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Navi Mutual Fund (MF) has launched Navi Nifty IT Index Fund, an open-ended Index Scheme replicating / tracking Nifty IT Index. The NFO opens for subscription on March 11, 2024 and closes on March 22, 2024. The Entry load and Exit load nil for the scheme. The minimum subscription amount is Rs 10 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against Nifty IT Index TRI (Total Return Index) and its fund managers are Aditya Mulki and Ashutosh Shirwaikar. 

The investment objective of the scheme is to achieve a return equivalent to Nifty IT Index by investing in stocks of companies comprising Nifty IT Index, subject to tracking error.