MUMBAI: Navi Mutual Fund, part of Sachin Bansal’s technology-driven BFSI group Navi, whose new fund offer (NFO) was open from 3-12 July 2021, has accumulated more than Rs100 crore from around 17,000 investors, a release issued by the company said. An index fund seeks to replicate and track the returns of an index such as the Nifty 50. Investors who place their money in index funds essentially give up on the possibility of both outperformance and underperformance. However, an index fund’s returns can differ from the underlying index, an issue measured by a metric called tracking error. 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."

Source: Mint July 19, 2021 06:33 UTC