Navi Mutual Fund, which is backed by Flipkart co-founder Sachin Bansal, will soon be launching Navi Nifty50 Index Fund, an open-ended equity scheme which will replicate the Nifty50 index.
The fund will have a total expense ratio (TER) of 0.06% in its direct plan. The TER is lowest as compared to any other index fund schemes in the passive fund category, claims the fund house in a press release.
“Working with our partners and leveraging our technology background, Navi has lowered the cost to 0.06% for the direct plan offering, which is the lowest in the index schemes category, as of today. Our goal is to be able to keep providing investment opportunities to investors at the best possible cost,” said Saurabh Jain, MD and CEO, Navi AMC.
