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Navi Mutual Fund (MF) has launched the Navi Nifty Midcap 150 Index Fund, an open-ended scheme replicating /tracking Nifty Midcap 150 Index. The NFO opens for subscription on February 21, 2022 and closes on March 02, 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 would be benchmarked with Nifty Midcap 150 Index TRI and its fund manager is Pranav Vasa.

The investment objective of the scheme is to achieve return equivalent to Nifty Midcap150 Index by investing in stocks of companies comprising Nifty Midcap 150 Index, subject to tracking error