Axis Mutual Fund has announced its latest offering, the ‘Axis Nifty 500 Index Fund’, aimed at capturing the growth potential of India’s premier companies listed on the National Stock Exchange. This open-ended index fund tracks the Nifty 500 Total Return Index (TRI), providing investors with a diversified portfolio spanning large-cap, mid-cap, and small-cap stocks.
Managed by industry veterans Mr. Karthik Kumar and Mr. Sachin Relekar, the fund’s New Fund Offer (NFO) will run from June 26, 2024, to July 09, 2024, with a minimum investment threshold of just Rs. 100. The fund carries an exit load of 0.25% if redeemed within 15 days post allotment, thereafter becoming load-free.
“As India progresses towards becoming a global economic powerhouse, the Axis Nifty 500 Index Fund offers a strategic opportunity for investors to participate in the nation’s growth story,” remarked Mr. B. Gopkumar, MD & CEO of Axis AMC. The fund aims to encompass approximately 92% of India’s market capitalization, covering a broad spectrum of sectors, making it an attractive choice for both novice and seasoned investors seeking exposure to India’s dynamic equity market.
