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Home / Mutual Funds / News /  Sachin Bansal backed Navi AMC files for 1 index, 3 FoFs
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Sachin Bansal’s Navi Asset Management Company (AMC) Ltd has filed draft papers for four more mutual funds schemes, including a fund of fund (FoF) based on electric vehicles and driving technology. Other schemes that Navi MF has applied for with the Securities and Exchange Board of India (Sebi) are Nifty India Manufacturing Index Fund, Total China Index FoF, and S&P 500 FoF. The AMC is primarily focusing on passive funds. Passive investing is the most basic form of putting one’s money in mutual funds and the purpose of this style of investment is to mirror the index and not beat it.

Among the newly applied schemes, Navi Electric Vehicles and Driving Technology FoF is an open-ended fund that will invest in units of overseas exchange-traded funds (ETF) and/or index fund based on STOXX Global Electric Vehicles and Driving Technology NET Index. The STOXX index includes firms that are involved in the manufacturing of electric and autonomous vehicles, battery suppliers for electric vehicles, and other suppliers in the electric and autonomous vehicle manufacturers’ supply chain.There are 90 constituents in the index, including Tesla Inc, NVIDIA Corp, and Toyota Motor Corp.

Navi Total China Index FoF is an open-ended fund investing in the units of overseas ETF’s and/or index fund based on the MSCI China Index.

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