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Axis MF launches Axis Nifty Bank Index Fund

NFO period: 03rd May ? 17th May, 2024

Highlights of the NFO:

  • Scheme type ? An open ended Index Fund tracking the Nifty Bank TRI

  • Investment objective ? To provide returns before expenses that corresponds 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.

  • Product suitability ? The product is suitable for investors who are seeking long term wealth creation solution. An index fund that seeks to track returns by investing in a basket of Nifty Bank TRI stocks and aims to achieve returns of the stated index, subject to tracking error.

  • Minimum Application Amount ? First investment is Rs. 500/- and in multiple of Rs. 1/- thereafter

  • Plan/ Options available ? Regular Plan and Direct Plan having Growth Option and Income Distribution cum Capital Withdrawal (IDCW) (Payout and Re-Investment Facility).

  • Fund Managers ? Mr. Karthik Kumar and Mr. Ashish Naik

  • Benchmark ? Nifty Bank TRI

(Mutual Fund investments are subject to market risks, read all scheme related documents carefully.)