NAVI MUTUAL FUND LAUNCHES NAVI NIFTY IT INDEX FUND; INVESTMENT AMOUNT STARTS AS LOW AS INR 10

~ NFO opens on Monday, 11th March 2024 and closes on Friday, 22nd March 2024 ~

● An open-ended index scheme replicating/tracking the Nifty IT Index

● Provides investors the opportunity to stay invested in India’s leading IT companies

● NFO opens on 11th March 2024 and closes on 22nd March 2024

● Lowest cost across all IT Index Funds, with TER of 0.22% for direct plan

● Investment amount starts with as low as INR 10

INDIA, 19 March’24: Navi Mutual Fund (“Navi MF”) announces the launch of Navi Nifty IT Index Fund, an open-ended index scheme replicating/tracking the Nifty IT Index. The Nifty IT Index is a collection of India’s top IT companies, based on their free float market capitalization listed on the National Stock Exchange of India Limited. This includes major players such as Infosys, TCS, and Wipro. Navi’s Nifty IT Index Fund strives to match the performance of the benchmark of the Nifty IT Index and invests in the top IT companies in India. The NFO will open on 11th March 2024, and close on 22nd March 2024. Investors can participate in the new fund with a starting amount of just INR 10.

The Navi Nifty IT Index Fund has the lowest TER among all IT Index funds with a Total Expense Ratio (TER) of 0.22% for its direct plan. As per the AMFI TER data as of 29th February 2024, the average TER of other IT Index funds is 0.34%.

A Navi spokesperson said, “We are thrilled to introduce the Navi Nifty IT Index Fund, marking our first entry into this segment. With a commitment to efficiency, we’ve crafted this fund with a remarkably

low expense ratio, ensuring that our investors can maximize their returns while staying invested in the country’s top IT companies and participating in the sector’s long-term growth.”

The Nifty IT Index has historically delivered strong performance with a CAGR of 29.48% (1-year performance), 21.49% (5 years performance), 16.06% (10 years performance), and 23.37% (15 years performance) as of 29th Feb 2024. The Nifty IT Index has outperformed the Nifty 50 Index in 10 out of the past 12 fiscal years. As of 29th February 2024, some of the top constituents of the Nifty IT Index include the best-known IT companies such as Infosys, TCS, HCL Technologies, Tech Mahindra, Wipro, and LTIMindTree.

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