NFO Alert: Navi Mutual Fund launches the Navi NiftyIT Index Fund; all you need to know

livemint.com:

₹10 per plan/option and in multiples of Re 1. There is no upper limit for investment. Under normal circumstances, the asset allocation of the scheme will be as follows:Indicative allocations (% of total assets)MinimumMaximumEquities and equity-related securities covered by NiftyIT Index95%100%Very HighDebt and Money Market Instruments0%5%Low to Medium To date, many asset management companies (AMCs) have launched such mutual funds, thus, allowing inclined investors to avail of returns corresponding to the total returns of the securities in this particular index.

These include:Mutual Fund HouseNifty IT Index FundsICICI Prudential Mutual FundICICI Prudential Nifty IT Index FundNippon India Mutual Fund Nippon India Nifty IT Index FundAxis Mutual FundAxis Nifty IT Index Fund The performance of the scheme will be benchmarked with Nifty IT Index TRI. The trustees reserve the right to change the benchmark in the future if a benchmark better suited to the investment objective of the scheme is available subject to SEBI regulations as amended from time to time. This scheme involves no “Entry Load", which means that investors do not have to pay anything to park their earnings in this scheme.

The “Exit Load" would also calculated as “Nil". The scheme will be managed by Aditya Mulki and Ashutosh Shirwaikar. The scheme involves “Very High Risk" as per the details mentioned in the Scheme Information Document and is best suited to investors willing to understand that their principal will be subject to very high risk only.