Navi Mutual Fund (Formerly known as Essel Mutual Fund) has launched its 6th fund for the year 2022, the Navi Nifty India Manufacturing Index Fund which is India’s first open-ended manufacturing index fund.
The fund is an open-ended equity scheme replicating the Nifty India Manufacturing Index, which tracks the performance of manufacturers among the top 300 companies in India.
- Navi Nifty India Manufacturing Index Fund aims to simplify investing in the Indian manufacturing sector.
- The fund proposes to have a total expense ratio (TER) of 0.15 percent for the direct plan and 1 percent for the regular plan and the fund will be managed by Aditya Mulki.
- The companies are selected from the combined universe of Nifty 100, Nifty Midcap 150 and Nifty Smallcap 50 index based on 6-month average free-float market.
- The index holds a minimum weight of 20 percent for certain manufacturing sectors.
- The weightage of each stock in the index is based on its free float market capitalisation which is reconstituted semi-annually along with Nifty Broad-based indices.
- The largest sectors in the Nifty India Manufacturing Index include automobile & auto components, capital goods, healthcare, and metals & mining.
- The top 10 stocks constitute around 37 percent of the index which includes Sun Pharma, Reliance Industries, Tata Steel, Maruti Suzuki India, Mahindra & Mahindra and JSW Steel.
MPPEB Group 5 application process ends on March 29, apply at esb.mp.gov.in
Madhya Pradesh Professional Examination Board (MPPEB) will end the registration process for Group 5 vacancies on March 28. Interested candidates who have not applied yet can apply online through the official website at esb.mp.gov.in. RRB NTPC Recruitment 2019:...
TET Exams 2023: Refer to these books to prepare for Teacher Eligibility Test
The Teacher Eligibility Test (TET) is an examination that is conducted at various levels to assess the eligibility of candidates for becoming teachers in government and private schools. It was introduced by the Government of India in 2011 to improve standards...
BSEB 12th Compartmental Exam 2023: Registration date extended till March 30
Bihar School Examination Board has extended the registration date for Bihar Board 12th Compartment Exam 2023. The last date to register for the compartmental examination is till march 30, 2023. Candidates can apply online through the official site of BSEB at...