Navi Mutual has launched a new fund offer for Navi Nifty Next 50 Index Fund. The fund is open for subscription between January 01, 2022, and January 15, 2022.
Read on to find out more about the NFO.
Navi Nifty Next 50 Index Fund is an open-ended equity scheme replicating/tracking Nifty Next 50 Index.
|Types of Instruments||Indicative allocation
(% of total assets)
|Equities and equity related securities covered by
Nifty Next 50 Index
|95%||100%||Medium to High|
|Debt & Money Market Instruments||0%||5%||Low to Medium|
|Scheme name||Navi Nifty Next 50 Index Fund|
|Type of scheme||An open-ended equity scheme replicating / tracking Nifty Next 50 Index|
|NFO Dates||January 1 – January 15, 2022|
|Fund Managers||Mr. Pranav Vasa|
|Benchmark||Nifty Next 50 Index TRI (Total Return Index)|
|Minimum Amount for Application during NFO||Rs. 500/- and in multiples of Re. 1/- thereafter.|
|Minimum Additional Purchase Amount||Rs. 100/- and in multiples of Re. 1/-|
|Minimum Redemption/Switch-Out Amount||Rs. 500/- or 100 Units or account balance whichever is lower|
|Load||a) Entry Load: N.A
b) Exit Load: Nil
|Plans||Direct and Regular|
|Options||Growth, Income Distribution cum Capital Withdrawal Option / IDCW Option.|
|Minimum SIP Amount||12 installments of Rs. 500/- each and in multiples of Rs. 100/- thereafter|
Nifty Next 50 Index TRI (Total Return Index)
The NIFTY Next 50 Index represents the rest 50 companies from NIFTY 100 after excluding the NIFTY 50 companies.
A Total Return Index (TRI) reflects the returns on the index arising from:
(a) Listed stock price movements and
(b) Dividend receipts from those stocks.
The methodology also takes into account constituent changes in the index and corporate actions such as stock splits, rights issuance, etc., without affecting the index value.
Mr. Pranav Vasa
Mr. Pranav Vasa has over 6 years of experience. In his past employment, he has worked with Birla Sun Life Insurance and he has been associated with Navi Mutual Fund since 2016.
Other funds managed by him are: