Navi MF files for Global Ex-US ETF Fund of Fund

3 Aug 2022 , 01:18 PM

Navi Mutual Fund (MF) on 2 August 2022 filed an offer document with the Securities and Exchange Board of India (Sebi) for a Global Ex-US ETF Fund of Fund.

The scheme will seek to replicate FTSE Global All Cap ex-US Index. The index is a free-float, market-capitalization weighted index representing the performance of large, mid and small cap companies in developed and emerging markets worldwide, excluding the USA. The index was launched on 1 September 2003 (base date 31 December 2002).

The corpus of the scheme will be invested in units of overseas ETFs based on Global Ex-US ETF. The indicative list of overseas ETFs include Vanguard FTSE All-World ex-US ETF, Vanguard Total International Stock ETF, iShares MSCI ACWI ex U.S. ETF.

According to the scheme information document, the minimum application amount will be Rs 500 and in multiples of Re 1 thereafter. The scheme’s riskometer states that the scheme will fall in the ‘very high risk’ category.

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