Navi AMC launches Nifty MidSmallcap 400 Index Fund; NFO open till December 5

Navi AMC has announced the launch of the Navi Nifty MidSmallcap 400 Index Fund, described as India’s first index fund designed to track the Nifty MidSmallcap 400 Index, a diversified benchmark combining the Nifty Midcap 150 and Nifty Smallcap 250 indices.

The New Fund Offer (NFO) opened on 24 November and will remain available until 5 December, with a minimum investment of Rs 100.

The fund is positioned as an open-ended index scheme aimed at replicating and tracking the Nifty MidSmallcap 400 Index, which represents the combined universe of mid-cap and small-cap companies within the broader Nifty 500 landscape.


According to scheme details, the index will be replicated through the Nifty MidSmallcap 400 Total Return Index, a free-float market-capitalisation-weighted index comprising 400 companies. The index is maintained and rebalanced based on the methodology set out by NSE Indices.

The objective of the fund is to generate returns in line with the performance of the Nifty MidSmallcap 400 Index, subject to tracking error. The documentation clarifies that there is no assurance that the investment objective will be achieved.

“Mid- and small-cap companies have been at the forefront of India’s growth story, yet accessing this segment in a diversified and cost-efficient manner has remained a challenge for many investors. With the Navi Nifty MidSmallcap 400 Index Fund, we are offering a simple way to participate in this opportunity through a single, broad-based index. Our focus is on creating transparent, rules-based products that help investors build long-term wealth without complexity,” said Aditya Mulki, CEO of Navi AMC.

Navi AMC, the investment manager to Navi Mutual Fund and part of Navi Limited, offers a range of mutual fund products spanning passive, rules-based, and actively managed strategies. The AMC follows a direct-to-customer model aimed at making investing simpler, more transparent, and accessible.

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