Navi Mutual Fund has launched Navi Nifty 500 Multicap 50:25:25 Index Fund, the first-ever index fund to track the Nifty 500 Multicap 50:25:25 index.

The new fund offer or NFO of the scheme is open for subscription and will close on July 30, 2024. The scheme will reopen for continuous sale and repurchase within five business days from date of allotment.

This fund continuously offers units at applicable NAV (Face Value: Rs 10). The Nifty 500 Multicap 50:25:25 index offers investors a unique opportunity to gain diversified exposure across large, mid, and small-cap companies in the Indian stock market. This innovative index allocates a fixed weight of 50%, 25%, and 25% to large, mid, and small-cap segments respectively. Moreover, this strategic allocation helps mitigate risk by reducing concentration in any single market-cap category.

The investment objective of the scheme is to achieve return equivalent to Nifty 500 Multicap 50:25:25 Index by investing in stocks of companies comprising Nifty 500 Multicap 50:25:25 Index, subject to tracking error.