The Navi Nifty IT Index Fund is an open-ended index fund launched by Navi Mutual Fund on March 11, 2024. It aims to mirror the performance of the Nifty IT Index by investing in the same companies, with the goal of delivering returns equivalent to the index. The minimum investment amount is Rs 10 and there are no additional loads. The new fund offer will be open for subscription until March 22, 2024.
The investment objective of the Navi Nifty IT Index Fund is to achieve return equivalent to Nifty IT Index by investing in stocks of companies comprising Nifty IT Index, subject to tracking error. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.
This NFO of Navi Nifty IT Index Fund is suitable for investors who are seeking capital appreciation over the long-term investing in equity and equity related securities covered by Nifty IT Index and return that corresponds to the performance of Nifty IT index, with minor tracking error.
Risk-o-meter – Navi Nifty IT Index Fund: Very High, Benchmark: Very High
| Instruments | Indicative allocations (% of total assets) | Risk Profile |
| Equities and equity related securities covered by Nifty IT Index | Minimum 95% – Maximum 100% | Very High |
| Debt & Money Market Instruments* | Minimum 0% – Maximum 5% | Low to Medium |
The performance of the Navi Nifty IT Index Fund will be benchmarked with Nifty IT Index TRI
Mr. Aditya Mulki, Age: 33 years, Educational Qualification: B. com, CFA, and 6 years of experience.
Mr. Ashutosh Shirwaikar, Age: 33 years, Educational Qualification: MBA, B. Tech, over 6 years of experience.
| Scheme Name | Launch Date | AUM (Crore) | Expense Ratio (%) | Returns as on – 11-03-2024 in % | ||||
| 2024 | 2023 | 2022 | 2021 | 2020 | ||||
| Nippon India Nifty IT Index Reg Gr | 22-02-2024 | 96.85 | 0.95 | – | – | – | – | – |
| Axis Nifty IT Index Fund Reg Gr | 14-07-2023 | 109.16 | 1 | 4.24 | – | – | – | – |
| ICICI Pru Nifty IT Index Fund Gr | 17-08-2022 | 372.90 | 0.92 | 4.26 | 24.96 | – | – | – |
| Bandhan Nifty IT Index Fund Reg Gr | 31-08-2023 | 19.45 | 1.01 | 4.26 | – | – | – | – |
| All Index Funds | – | – | – | 4.14 | 21.46 | 1.91 | 27.96 | 15.29 |
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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