Sachin Banal’s Navi Nifty 50 Index Garners Rs 100 Cr in NFO

New Delhi: Navi AMC, a part of Sachin Bansal’s technology-driven BFSI group Navi, on Monday mentioned its new fund has collected greater than Rs 100 crore from over 17,000 traders in 10 days. Navi Nifty 50 index — whose new fund supply (NFO) was open throughout July 3-12 — is now out there for investments throughout all on-line funding channels or by way of monetary advisors, the newly created fund home mentioned in a press release.

The expense ratio supplied by the fund at 0.06 per cent for its direct plan providing, which is the bottom in the index schemes class to this point, has garnered vital traction from traders, as they recognise the substantial financial savings they make over the long run. As per the trade’s physique Amfi June report, the general passive fund folios are 13.5 lakh and Navi has gained 17,000 or roughly 1.3 per cent of this folio base in the course of the NFO already. NFO’s usually span over 15 days, whereas Navi Nifty 50 Index Fund NFO hit the Rs 100 crore mark in simply 10 days. “The success of this launch is just not solely from the AUM of this NFO but in addition by way of the attention that has unfold throughout traders round Index Fund investing and expense ratio. This is seen by way of the 1.4 lakh customers who visited our web site throughout these 10 days.