Sachin Bansal backed Navi AMC files for 1 index, 3 FoFs

Sachin Bansal’s Navi Asset Management Company Ltd has filed draft papers for four more mutual funds schemes, including a fund of fund based on electric vehicles and driving technology.

Other schemes that Navi MF has applied for with the Securities and Exchange Board of India are Nifty India Manufacturing Index Fund, Total China Index FoF, and S&P 500 FoF. The AMC is primarily focusing on passive funds.

Passive investing is the most basic form of putting one’s money in mutual funds and the purpose of this style of investment is to mirror the index and not beat it.

[Via]

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