November 21, 2025
RA Jainee
Navi Nifty MidSmallcap 400 Index Fund Direct-Growth
Navi Nifty MidSmallcap 400 Index Fund Direct-Growth snapshot
| NFO opens on | 24 November 2025 |
| NFO Closes on | 05 December 2025 |
| Min. Investment | Rs. 100 |
| Plans | Growth |
| Sahifund Verdict | Long-term wealth creation potential, but expect volatility. |
⏱️ Last Update: 26 November 2025, 10.00 AM
Table of Contents:
1. NFO Open date, Close date
2. NFO Investment Strategy
3. Basic Details NFO
4. Benchmark Index NFO
5. Fund Manager | Performance Review of Fund Manager
6. Should You Invest in this NFO?
7. Invest Online
What is the Navi Nifty MidSmallcap 400 Index Fund Direct-Growth Open Date, Close Date?
NFO opens on November 24, 2025
NFO will close on December 05, 2025
Investment Strategy for this NFO?
The scheme seeks to achieve a return equivalent to Nifty MidSmallcap 400 Index by investing in the stocks of companies which comprise the Nifty MidSmallcap 400 Index, subject to tracking error.
Basic Details
| Fund House | Navi Mutual Fund |
| Issue Open | 24 November 2025 |
| Issue Close | 05 December 2025 |
| Type | Open-ended |
| Category | Equity: Mid Cap |
| Min. Investment(₹) | 100 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | Nifty MidSmallcap 400 TRI |
About Benchmark Index for this NFO?
The Nifty MidSmallcap 400 Index is designed to reflect the behaviour and performance of the mid and small market capitalisation companies. The index includes all companies forming part of Nifty Midcap 150 and Nifty Smallcap 250 Index.
Nifty MidSmallcap 400 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base period.
Nifty MidSmallcap 400 can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variant: Nifty MidSmallcap 400 Total Returns Index
Portfolio Characteristics
| Methodology | Free Float Market Capitalization |
| No. of Constituents | 402 |
| Launch Date | April 01, 2016 |
| Base Date | April 01, 2005 |
| Base Value | 1000 |
| Calculation Frequency | Real-Time |
| Index Rebalancing | Semi-Annually |
Fund Managers of Navi Nifty MidSmallcap 400 Index Fund Direct-Growth
1) Ashutosh Shirwaikar
Education: Mr. Shirwaikar has done MMS and CFA
Experience: Prior to joining Navi MF, he has worked with Quantum AMC and ICICI Bank
AMC
Navi AMC Limited
Address: 7th Floor, Wing B, Prestige RMZ Startech, No. 139, 2, Hosur Rd Koramangala Industrial Layout, S.G. Palya. Bangalore – 560095
Website: http://www.navimutualfund.com
Registrar & Transfer Agent
Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Website: www.camsonline.com
Review for Navi Nifty MidSmallcap 400 Index Fund Direct-Growth @ sahifund.com by Paresh Gordhandas, C.A. & Research Analyst
[ A ] Benchmark Performance of Nifty MidSmallcap 400 TRI
Performance
| Index Returns (%)# | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 4.41 | 1.82 | 2.64 | 27.86 | 15.75 |
| Total Return | 4.43 | 2.33 | 3.22 | 28.81 | 17.10 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 18.07 | 17.10 | 20.91 |
| Beta (NIFTY 50) | 1.09 | 0.94 | 0.83 |
| Correlation (NIFTY 50) | 0.76 | 0.78 | 0.83 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 32.85 | 4.12 | 0.78 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| BSE Ltd. | 1.73 |
| Hero MotoCorp Ltd. | 1.23 |
| Suzlon Energy Ltd. | 1.23 |
| Dixon Technologies (India) Ltd. | 1.09 |
| Persistent Systems Ltd. | 1.09 |
| PB Fintech Ltd. | 1.03 |
| Coforge Ltd. | 1.02 |
| Cummins India Ltd. | 1.01 |
| Federal Bank Ltd. | 1.00 |
| HDFC Asset Management Company Ltd. | 0.94 |
Past Performance of Ashutosh Shirwaikar
| Fund | Navi ELSS Tax Saver Nifty 50 Index Fund | It’s Benchmark | Navi Flexi Cap Fund | It’s Benchmark |
| 1 Year | 11.57 | 9.75 | 5.53 | 9.75 |
| 3 Year | — | — | 12.80 | 16.25 |
| 5 Year | — | — | 16.00 | 18.99 |
| 7 Year | — | — | 13.60 | 16.33 |
| 10 Year | — | — | — | — |
As on 21-11-2025
[B] Review of Fund Managers
Ashutosh Shirwaikar
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Background: Mr. Shirwaikar has done MMS and CFA, Prior to joining Navi MF, he has worked with Quantum AMC and ICICI Bank
Sahifund Verdict:
Navi Nifty MidSmallcap 400 Index Fund offers diversified exposure to 400 mid- and small-cap companies, capturing India’s fast-growing emerging businesses. The benchmark has delivered strong long-term performance (28.8% CAGR over 5 years), but comes with high volatility (18%+ standard deviation) and elevated valuations (PE ~33). The index provides a balanced mix of leaders like BSE, Hero MotoCorp, Persistent Systems, Dixon, and PB Fintech. Fund manager Ashutosh Shirwaikar, with experience in passive funds and index strategies at Quantum and Navi, adds comfort on execution. Suitable only for investors with very high risk appetite and a long investment horizon (5–7 years). Not ideal for conservative or short-term investors due to sharp drawdown risks.
Sahifund Verdict: Long-term wealth creation potential, but expect volatility.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
Is it good to invest in Navi Nifty MidSmallcap 400 Index Fund Direct-Growth NFO?
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