Navi Mutual Fund has launched Navi Nifty 50 Index Fund.
The scheme aims to achieve return equivalent to Nifty 50 Index by investing in stocks of companies comprising the Nifty 50 Index. The fund will invest a minimum of 95% in equities and up to 5% in debt and money market instruments.
The minimum application amount is Rs 500 and Rs 100 for additional investments. The scheme will be managed by Girish Raj.
The NFO opens on July 3 and closes on July 12. The fund will charge 0.06% and 0.26% under the direct and regular plans, respectively.
