: Navi Mutual Fund Launches India’s First Manufacturing Index Fund; NFO opens on August 12th #IndiaNEWS #Business Bengaluru, August 12th, 2022 Navi Mutual Fund announced the launch of its sixth
Navi Mutual Fund Launches India’s First Manufacturing Index Fund; NFO opens on August 12th #IndiaNEWS #Business
Bengaluru, August 12th, 2022 Navi Mutual Fund announced the launch of its sixth fund of this year, the Navi Nifty India Manufacturing Index Fund. This is India’s first index fund focusing on the manufacturing sector. It is an open-ended index fund that will seek to replicate the Nifty India Manufacturing Index, which tracks the performance of manufacturers among the top 300 companies in India.
Manufacturing is one of India’s high-growth sectors, which has been buoyed by the governments constant support to strengthen the sector. The ‘Make in India’ initiative, Production Linked Incentive (PLI) Scheme, and the Skill India initiative are a few of the programmes that aim to put India on the world map as a global manufacturing hub. Foreign Direct Investment (“FDI?) policy initiatives aimed at reducing restrictions have led to an increase in foreign investment. FDI in the manufacturing sector increased by 25% to . 3 billion(2) in 2021.
Navi Nifty India Manufacturing Index Fund aims to simplify investing in the Indian manufacturing sector. It will provide easy and cost-effective access to the entire manufacturing landscape through an index that is well diversified across sectors and market caps. Investors would gain exposure to not just the leaders of the sector but also to growth in upcoming sectors like electric vehicles, semiconductors, defense, etc. , among others. The largest sectors in the Nifty India Manufacturing Index currently are Automobile & Auto Components, Capital Goods, Healthcare, and Metals & Mining. It also has a well-balanced representation, with the top 10 stocks constituting only LHو H[^ H[^[]Y] X]H]YH[X[ ] [ H 8$ IK
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