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Navi Mutual Fund has witnessed AUM of its flagship index fund Navi Nifty 50 Index Fund crossing AUM of Rs. 500 crore in September 2022.
With the lowest expense ratio of 0.06% in direct plan, the fund’s AUM has grown 5X in the 15 months since its launch. It collected over Rs.100 crore during its NFO last year.
Interestingly, majority of assets have come from individual investors. The average AUM data of Navi MF on August 2022 shows that 97% of the total assets come from individual investors. While the fund house managed retail assets of 57%, its assets from HNIs stood at 40% in August 2022. Majority of these investments have come through direct plan.
In a press release, Sachin Bansal, Co-Founder of Navi Group said, “We are delighted that Navi Nifty 50 index fund has become one of the only seven Nifty 50 index funds in the country to cross the Rs. 500 crore AUM milestone. This was the first Navi fund we launched as part of our passive-first strategy, and we will continue to focus on offering our customers innovative, cost-effective and simple investment products.”
Of the total 17 Nifty 50 index funds, 6 funds have AUM in excess of Rs. 500 crore AUM and Navi Nifty 50 Index Fund has become the newest and youngest entrant in this list.
