Navi ELSS Tax Saver Nifty 50 Index Fund NFO Review, Offer

Navi ELSS Tax Saver Nifty 50 Index Fund NFO Review

Updated on 17 Oct, 2023

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Navi Mutual Fund is launching a new tax saver index fund, Navi ELSS Tax Saver Nifty 50 Index Fund, that invests across top 50 companies across 14 sectors.
The New Fund Offer (NFO) period for the Navi ELSS Tax Saver Nifty 50 Index Fund is from 14th February 2023, to 28th February 2023. The scheme re-opens for continuous repurchases and sale within 5 business days from the date of allotment.

Investment Objective: The investment objective of the Scheme is to invest in companies whose securities are included in Nifty 50 Index and to achieve the returns of the index, though subject to tracking error. Investment in this scheme would be subject to statutory lock-in period of 3 years from the date of allotment to be eligible for income tax benefit under section 80 C. However, there is no assurance that the investment objective of the Scheme will be realized.

Navi ELSS Tax Saver Nifty 50 Index Fund NFO Details

Fund Name	Navi ELSS Tax Saver Nifty 50 Index Fund
NFO Opening Date	14th February 2023
NFO Closing Date	24th February 2023
Re-open Date	Within 5 business days from date of allotment
Type of Fund	ELSS Fund
Lock in Period	3 Years
Fund Manager	Mr Aditya Mulki
Minimum Investment Amount	INR 500
Minimum Additional Purchase Amount	INR 5000
Exit Load	Nil
Suitability	Very High Risk
Benchmark	Nifty 50 TRI Index
Plans and Options	Direct and Regular PlanGrowth and Income Distribution cum Capital Withdrawal (IDCW) Option

NOTE:

All additional investment amounts should be multiple of INR 500.
Minimum SIP/SWP for Monthly frequency is INR 500.

Who Can Invest in Navi ELSS Tax Saver Nifty 50 Index Fund NFO?

Navi ELSS Tax Saver Nifty 50 Index Fund is an index fund that invests in the same companies that comprise the Nifty 50 index. It is a unique tax-saver index fund that offers low-cost exposure to India’s top 50 companies across 14 sectors. The scheme offers tax deduction benefits up to INR 1,50,000 per annum under Section 80C of the Income Tax Act, 1961. ELSS funds come with a mandatory lock-in period of 3 years. Thus, investors who are willing to invest with a lock-in period can consider investing in the Navi ELSS Tax Saver Nifty 50 Index Fund. This passive fund suits investors having an investment horizon of a minimum of 3 years or more, as it helps in long-term wealth creation.

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Fund Manager

Mr Aditya Mulki

Mr Aditya Mulki joined Navi AMC in October 2021. He currently manages all equity mutual funds at the fund house. He has about 6 years of experience as an Equity Analyst. Prior to joining Navi AMC, he was with Quantum Advisors Ltd. He is a Chartered Financial Analyst (CFA) Charterholder, CFA Institute. Mr Mulki also holds a B.Com degree from Mumbai University.

Asset Allocation

Instruments	Minimum Allocation	Maximum Allocation	Risk Profile
Equity and Equity Related Instruments covered by Nifty50 Index	95%	100%	Very High
Debt and Money Market Instruments	0%	5%	Low to Medium

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Frequently Asked Questions

How Can I Invest in the Navi ELSS Tax Saver Nifty 50 Index Fund?

You can invest in the Navi ELSS Tax Saver Nifty 50 Index Fund through any of the following methods:
Offline: By filling out the Navi NFO application and submitting it along with all documents and cheques to the nearest Investor Service Centre of CAMS or Navi mutual fund office.
Online:
Navi Mutual Fund Website
Online FinTech platforms and mutual fund platforms
Through Demat account
Through a mutual fund distributor or agent

Is Navi ELSS Tax Saver Nifty 50 Index Fund risky?

Yes, it is a very high-risk investment based on the riskometer. Navi ELSS Tax Saver Nifty 50 Index Fund is a pure equity sector mutual fund that invests in stocks that comprise the Nifty 50 Index and in the same proportion.

Is there a lock-in period for Navi ELSS Tax Saver Nifty 50 Index Fund?

Yes, the Navi ELSS Tax Saver Nifty 50 Index Fund has a three-year lock-in period.

When will the scheme open for ongoing subscriptions, switches and redemptions?

The Navi ELSS Tax Saver Nifty 50 Index Fund scheme re-opens for ongoing subscriptions, switches and redemptions within 5 business days from the date of allotment.