If you too are looking for a cheap and good return mutual fund to invest, then now you just have to wait a little. Flipkart is going to launch the cheapest index fund soon. Flipkart co-founder Sachin Bansal has given information about this. The name of this fund will be Navi Nifty 50 Index Fund and it will be the cheapest fund ever. Sachin Bansal has announced this on Monday.
It is an open-ended equity scheme. The total expense ratio (TER) of the fund in the direct plan will be 0.06 per cent. TER means the cost of asset management fees and other expenses charged from investors.
As per ACE MF data, so far ICICI Prudential Nifty Index Fund is the cheapest fund in this category with a TER of 0.10 per cent. All other things being equal, a fund with a high TER may give slightly lower returns than a fund with a low TER.
The New Fund Offer (NFO) of Navi Nifty 50 Index Fund will be open for subscription from July 3, 2021 to July 12, 2021.