Index funds are in the news after Sachin Bansal-backed Navi Mutual Funds (MF) launched a Nifty 50-benchmarked fund that has the lowest expense ratio in the industry. The new fund offer (NFO) for the Navi Nifty 50 Index Fund opens on July 3. The scheme will have an expense ratio of just 0.06 per cent under the direct plan and 0.26 per cent under the regular plan (which is bought through an intermediary).
Until now, the cheapest index funds under the direct plan were offered by ICICI Prudential and Motilal Oswal MF. They had an expense ratio of 0.10 per cent. ICICI Prudential and UTI ...
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