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 stated its new fund has collected greater than Rs 100 crore from over 17,000 buyers in 10 days. Navi Nifty 50 index — whose new fund provide (NFO) was open throughout July 3-12 — is now accessible for investments throughout all on-line funding channels or by means of monetary advisors, the newly created fund home stated in an announcement.

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 thus far, has garnered important traction from buyers, as they recognise the substantial financial savings they make over the long run. As per the business’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 through 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 shouldn’t be solely from the AUM of this NFO but additionally by means of the notice that has unfold throughout buyers round Index Fund investing and expense ratio. This is seen by means of the 1.4 lakh customers who visited our web site throughout these 10 days.