Axis Mutual Fund has introduced a new investment avenue with the launch of the ‘Axis Nifty 500 Index Fund’. This open-ended index fund is designed to mirror the performance of the Nifty 500 Total Return Index (TRI), providing investors with exposure to the top 500 companies listed on the National Stock Exchange (NSE).
Managed by seasoned professionals Mr. Karthik Kumar and Mr. Sachin Relekar, the Axis Nifty 500 Index Fund aims to replicate the total returns of its benchmark index, offering a diversified portfolio across large-cap, mid-cap, and small-cap stocks. The New Fund Offer (NFO) opens on June 26, 2024, and closes on July 09, 2024, with a minimum investment requirement of Rs. 100 and in multiples of Re. 1 thereafter. “With India poised to become one of the world’s largest economies, the Axis Nifty 500 Index Fund presents a strategic opportunity for investors to capitalize on the growth potential of the nation’s leading companies,” said Mr. B. Gopkumar, MD & CEO of Axis AMC. He highlighted the fund’s objective to provide sustainable long-term returns, appealing to both new and seasoned investors seeking a straightforward investment solution.
The fund aims to cover approximately 92% of India’s listed market capitalization, spanning across 21 sectors, thereby offering broad-based market exposure. It boasts of lower expenses compared to actively managed funds, making it a cost-effective choice for investors looking to align their portfolios with India’s economic growth trajectory.
