Axis Nifty IT Index Fund NFO: Everything you need to know

28 Jun 2023 , 10:14 AM

Axis Mutual Fund is launching NFO under its “index category”, named as Axis Nifty IT Index Fund. This open-ended fund of fund seeks to provide returns before expenses that corresponds to the total returns of the NIFTY IT TRI subject to tracking errors.

Investment strategy: The Scheme would invest in stocks comprising the underlying index to track the benchmark index. The Scheme may also invest in debt and money market instruments, in compliance with Regulations to meet liquidity and expense requirements.

Asset allocation: The net assets of the scheme will be invested in stocks constituting the NIFTY IT TRI. A small portion of the net assets will be invested in Debt and money market instruments to meet liquidity requirements.

Who should invest?

Investors with very high risk appetite and want to invest for 5 to 7 years in an index mutual fund should invest in Axis Nifty IT Index Fund. 

Risk associated: Very high level of risk.

Benchmark: Nifty IT TRI.

Fund Managers: Mr Hitesh Das.

The NFO is available for subscription from June 27 to July 11. The schemes will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 5000/- and in multiples of any amount thereafter. 

It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in Mirae Axis Nifty IT Index Fund.