Flipkart co-founder Sachin Bansal’s Navi Mutual Fund (MF) has filed papers with the markets regulator seeking approval for a ‘Total US Stock Market’ fund-of-funds (FoF).
The proposed scheme will feed into Vanguard Total Stock Market Index Fund ETF. Vanguard, founded by John Bogle, is a pioneer in passive investing in the US and the second-largest money manager after Blackrock. Vanguard Total Stock Market Index Fund has an expense ratio of just 0.03% and has delivered annual average returns of 44.33%, 18.75% and 14.7% CAGR over the past 1, 3 and 10 years in dollar terms.