The Flipkart co-founder Sachin Bansal-backed Navi Mutual Fund (MF) is going to soon launch its second new fund offer - Navi Nifty Next 50 Index Fund.

The Navi Nifty Next 50 Index Fund will mimic the returns of the Nifty Next 50 Index.The Nifty Next 50 index signifies 50 companies from the NIFTY 100 index after excluding the NIFTY 50 companies.

Some companies eventually graduate to being a part of the Nifty 50 index. Some Nifty Next 50 companies also get demoted to lower-rung indices.

In July 2021, Navi MF had launched its first NFO - Navi Nifty 50 Index Fund.

Navi MF has been filing several passive funds with SEBI, including a recent filing of a blockchain fund.

Some of the other funds Navi MF has filed for are Navi Nifty India Manufacturing Index Fund, Navi S&P 500 FoF and Navi Total China Index FoF.