Navi Mutual Fund launches Navi S&P BSE Sensex Index Fund

Navi Mutual Fund has launched Navi S&P BSE Sensex Index Fund, an openended fund that will replicate and track the S&P BSE Sensex Index. The scheme aims to generate returns that are commensurate with the performance of the S&P BSE Sensex Index and will ensure that investors’ money is always invested in the 30 leading Indian companies.

The performance of the Scheme will be benchmarked with S&P BSE SENSEX Index (Total Returns Index). The scheme will be managed by Aditya Mulki and Ashutosh Shirwaikar.

With a Total Expense Ratio (TER) of 0.14% (direct plan), the Navi S&P BSE Sensex Index Fund will have the lowest cost across all Sensex index funds and active large funds, the fund house said. The average TER of other Sensex index funds is 0.22% while that of active large cap funds is 0.9975% (Source: AMFI TER data, August 1, 2023).