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Navi Mutual Fund (MF) has launched the Navi Nifty Next 50 Index Fund, an open-ended equity scheme replicating / tracking Nifty Next 50 Index. The NFO opens for subscription on January 01, 2022 and closes on January 15, 2022. The Entry load and the Exit load is nil for the scheme. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against Nifty Next 50 Index TRI (Total Return Index) and its fund manager is Pranav Vasa.

The investment objective of the scheme is to invest in companies whose securities are included in Nifty Next 50 Index and to endeavor to achieve the returns of the index as closely as possible, though subject to tracking error.