Navi Mutual Fund launches new fund

Hyderabad: Navi Mutual Fund announces the launch of Navi US Total Stock Market Fund of Fund. The fund will invest in Vanguard Total Stock Market ETF, which is one of the largest passively managed US-based ETFs. The Fund's Expense Ratio is 0.06 per cent per annum. The NFO will open for subscription on February 4, 2022.

This will be the third fund launched by Navi Mutual Fund this year. It launched the Navi Nifty Next 50 Index Fund and Navi Nifty Bank Index Fund in January, both of which are lowest cost index funds in their respective categories. The fund house plans to launch three more funds by the end of March this year.

Vanguard Total Stock Market ETF tracks the CRSP US Total Market Index which comprises over 4000 stocks, representing nearly 100 per cent of the investable equity US Market. Though the fund invests in US equities of all sizes - large, mid, small and micro capitalization, it has a considerable allocation to the most popular names such as Apple, Microsoft, Alphabet, Amazon, Facebook and Tesla.

The broad-based US index has provided an annualised return of 28.15 per cent, 20.11 per cent and 20.27 per cent over the last one year, five years and ten years respectively as of Dec 31, 2021.