- The proposed scheme will feed into Vanguard Complete Inventory Market Index Fund ETF.
By Neil Borate, Mumbai
PUBLISHED ON SEP 01, 2021 07:19 AM IST
Flipkart co-founder Sachin Bansal’s Navi Mutual Fund (MF) has filed papers with the markets regulator searching for approval for a ‘Complete US Inventory Market’ fund-of-funds (FoF).
The proposed scheme will feed into Vanguard Complete Inventory Market Index Fund ETF. Vanguard, based by John Bogle, is a pioneer in passive investing within the US and the second-largest cash supervisor after Blackrock. Vanguard Complete Inventory Market Index Fund has an expense ratio of simply 0.03% and has delivered annual common returns of 44.33%, 18.75% and 14.7% CAGR over the previous 1, 3 and 10 years in greenback phrases.
Below the Securities and Alternate Board of India (Sebi) guidelines, the expense ratio of the Indian fund home can’t be greater than twice the underlying fund. This is able to cap the expense ratio of the Navi Complete US Inventory Market FoF to only 0.09%.
Bansal’s Navi Mutual Fund additionally focuses on passive investing. Alongside its Complete US Inventory Market submitting, the fund home additionally filed for a NASDAQ 100 FoF. Nevertheless, this scheme will spend money on different asset managers within the US.
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