Navi Mutual Fund has recently rolled out manufacturing India Index that offers a highly diversified investment opportunity to invest in India’s growing sector.
The fund house claims that investors should invest in this new fund offer if they are aiming for capital appreciation over a long period of time, want to invest in equity and equity-related securities covered by Nifty India Manufacturing index, want returns that correspond to the performance of the Nifty India Manufacturing Index subject to tracking error.
Also, the scheme is meant for investors with a high-risk appetite and want to be a part of the growth of the manufacturing industry in India.
Scheme allocation
The fund will allocate between 95 percent to 100 percent to equity and equity related securities covered by Nifty India Manufacturing Index and the remaining 0-5 percent in debt and debt and money market instruments.
The minimum amount that one can subscribe is ₹500 and in multiples of Re 1 thereafter. Additional purchase of ₹100 and in multiples of Re 1 thereafter.
The scheme will be managed by fund manager Aditya Mulki.
| Particulars | Details |
| NFO opened | Aug 12 |
| NFO to close | Aug 23 |
| Minimum subscription | ₹500 |
| Equity allocation | 95-100% |
| Debt & money market | 0-5% |
The new fund offer opened on August 12 and it seeks to collect a minimum subscription amount of ₹5 crore only under the scheme while there is no upper limit on the total amount to be collected in this new fund offer.
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The scheme will adhere compliance with the portfolio concentration norms which include the index will have a minimum of 10 stocks as its constituents and for a sectoral or thematic index, no single stock will have more than 35 percent weight in the index.
For other than sectoral/ thematic indices, no single stock shall have more than 25 percent weight in the index. And on the top of it, the weightage of the top three constituents of the index won't be more than 65 percent of the Index.
