Publish Date:
Navi Mutual Fund introduces – Navi S&P BSE Sensex Index Fund
It is an open-ended equity scheme replicating/ tracking S&P BSE SENSEX Index
Accordingly, the investment objective of the Scheme is to generate returns that are commensurate with the performance of the S&P BSE SENSEX Index, subject to tracking errors. There is no assurance that the investment objective of the Scheme will be achieved.
Under normal circumstances, Navi S&P BSE Sensex Index Fund will hold an allocation of 95% to 100% of its assets in Equity and Equity related securities of companies constituting the underlying index i.e. S&P BSE Sensex Index and 0% to 5% in Debt and Money Market instruments.
As per the Scheme Information Document, Navi S&P BSE Sensex Index Fund will be invested in stocks constituting the respective benchmark of the Scheme i.e. S&P BSE Sensex. The Scheme intends to maintain a low tracking error by actively managing the portfolio in line with the index. The stocks comprising the S&P BSE Sensex is periodically reviewed by the Fund Manager. Navi S&P BSE Sensex Index will follow a passive investment strategy, the endeavour will be to minimise portfolio turnover subject to the exigencies and needs of the Schemes.
Navi S&P BSE Sensex Index Fund performance will be benchmarked against S&P BSE SENSEX Index
The scheme will be managed by Mr Aditya Mulki
The NFO opens for subscription on August 21, 2023 and closes on September 01, 2023. The schemes will reopen for continuous sale and repurchase on September 07, 2023
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 10/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option only.