Navi Mutual Fund launches new fund

Navi Mutual Fund has announced the launch of Navi US Total Stock Market Fund of Fund. It will invest in Vanguard Total Stock Market ETF, which is one of the largest passively managed US-based ETFs. The Fund’s Expense Ratio will currently be 0.06% per annum, Navi MF said in a statement.

The NFO will open for subscription on 4th February 2022.

Navi MF said that the Vanguard Total Stock Market ETF (VTI) tracks the CRSP US Total Market Index comprising over 4000 stocks and representing nearly 100 percent of the investable equity US Market. Though the fund invests in US equities of all sizes – large, mid, small and micro capitalization, it has a considerable allocation to the most popular names such as Apple, Microsoft, Alphabet, Amazon, Facebook and Tesla.

CRSP US Total Market Index, the benchmark for the Vanguard ETF, is a well-diversified, comprehensive and broader index having exposure to multiple sectors. In contrast, most of the US-focused index funds currently offered by other mutual fund houses in India have NASDAQ 100 Index as their benchmark, which has a higher exposure to the technology sector, the statement said.