Axis Mutual Fund has announced its latest offering, the ‘Axis Nifty Bank Index Fund’, targeting the thriving Indian banking sector. This open-ended index fund is designed to mirror the performance of the Nifty Bank TRI, offering investors direct exposure to the nation’s leading banks.
Managed by industry veterans Mr. Karthik Kumar and Mr. Ashish Naik, the fund aims to replicate the total returns of the Nifty Bank TRI, subject to tracking errors. With India’s banking sector experiencing robust growth, fueled by regulatory reforms and digital innovation, the Axis Nifty Bank Index Fund provides investors a strategic avenue to capitalize on this momentum. “Investors seeking to tap into India’s economic growth trajectory can now do so with ease through the Axis Nifty Bank Index Fund,” remarked B. Gopkumar, MD & CEO, Axis AMC.
The fund will primarily invest in stocks constituting the underlying index, employing a passive investment strategy. Additionally, it may allocate funds to debt and money market instruments for liquidity and expense management.With the NFO opening on May 3, 2024, and closing on May 17, 2024, investors are encouraged to explore this innovative offering from Axis Mutual Fund, promising a potential avenue for significant returns in the dynamic banking sector.
