Axis Nifty Bank Index Fund NFO: Essential details you need to know

3 May 2024 , 12:17 PM

Axis Mutual Fund is launching NFO under its “Index Fund”, named as Axis Nifty Bank Index Fund. The open-ended fund aims to provide returns before expenses that correspond to the total returns of the Nifty Bank TRI subject to tracking errors. However, there is no assurance that the investment objective of the Scheme will be achieved.

Investment strategy: The Scheme would invest in stocks comprising the underlying index and shall 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 Scheme will follow a passive investment strategy and invest in a basket of Nifty Bank TRI stocks and aims to achieve returns of the stated index.

Who should invest?

Investors with a very high-risk appetite should invest in the Axis Nifty Bank Index Fund for 5 or more years.

Risk associated: Very high level of risk.

Benchmark: Nifty Bank TRI

Fund Managers: Mr. Karthik Kumar and Mr. Ashish Naik

The NFO is available for subscription from May 03 to May 17. 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 ₹500/- 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 Axis Nifty Bank Index Fund.