The expense ratio offered by the fund at 0.06% for its direct plan offering, which is the lowest in the index schemes category so far, has garnered significant traction among investors. As per AMFI’s June report the overall passive fund folios are 13.5 lakh and Navi has gained 17,000 or approximately 1.3% of this folio base, during the NFO already. Interestingly, NFO’s generally span over 15 days while Navi Nifty 50 Index Fund NFO hit the Rs 100 crore mark in a short span of 10 days.
“The success of this launch is not only from the AUM of this NFO but also through the awareness that has spread across investors around index fund investing and expense ratio. This is visible through the 1.4 lakh users who visited our website during these 10 days. This is the beginning of a long-term partnership with our investors for wealth creation and we are delighted with the response we have received for this Index Fund NFO,” said Saurabh Jain, MD and CEO, Navi AMC Limited.