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Navi Mutual Fund has launched Navi Nifty IT Index Fund, an open-ended index scheme replicating/tracking the Nifty IT Index.
The Nifty IT Index is a collection of India's top IT companies, based on their free float market capitalization listed on the NSE. This includes major players such as Infosys, TCS, and Wipro.
Investors can participate in the fund with Rs.10. The fund house claims that the fund has the lowest TER among all IT Index funds with TER of 0.22%.
A Navi spokesperson said, "We are thrilled to introduce the Navi Nifty IT Index Fund, marking our first entry into this segment. With a commitment to efficiency, we've crafted this fund with a remarkably low expense ratio, ensuring that our investors can maximize their returns while staying invested in the country’s top IT companies and participating in the sector’s long-term growth."
