Navi MF launches its Sensex Index Fund

Navi Mutual Fund has launched Navi S&P BSE Sensex Index Fund, an open-ended fund that will replicate the performance of S&P BSE Sensex Index.  The NFO opens on August 21 and closes on September 01.

The underlying index consists of 30 large cap companies based on their market capitalization.

The fund house claims that the scheme will have the lowest TER.

In a press release, Sachin Bansal, Co-founder, Navi Group said, “With a minimum investment of just Rs. 10, we are confident that this scheme will aid us in our mission- to make finance accessible to a billion Indians. By combining innovation, accessibility, and affordability our endeavour remains to keep the cost to the customer low and reduce the barrier of entry into the mutual fund space.”