Axis Mutual Fund has launched Axis Nifty 50 Index Fund. It is an open-ended scheme that will track the Nifty 50 Index TRI. The fund’s passive strategy seeks to replicate the Nifty 50 Index by investing in a basket of Nifty 50 Index stocks across 13 categories in the same proportions as their weightages in the index.
The Nifty 50 Index represents 50 companies selected from NIFTY 50 universe, based on free-float market capitalization. As the index is considered as the de-facto barometer of the Indian equity market, the fund can be an ideal option for investors looking for market-linked equity returns and long term wealth creation solutions. Investors can invest through various systematic options like SIPs, STP & Flexi SIP/STP in addition to lumpsum investments.
The NFO opens for subscription on November 15, 2021, and closes on November 29, 2021. The Axis Nifty 50 Index Fund will be managed by Jinesh Gopani, Head-Equity. The minimum application amount is Rs 5,000.
