Navi Mutual Fund files offer document for Nifty Index Fund
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Navi Mutual Fund has filed offer document with SEBI to launch an open ended equity scheme named ‘Navi Nifty Index Fund’. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The Scheme offers growth option for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by Nifty 50Index TRI .The minimum application amount is Rs 500 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to achieve return equivalent to Nifty 50 Index by investing in stocks of companies comprising Nifty 50 Index.
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