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Axis Mutual Fund (MF) has launched the Axis Consumption ETF, an open-ended Exchange Traded Fund tracking NIFTY India Consumption Index. The NFO opens for subscription on August 30, 2021, and closes on September 13, 2021. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereof.

The performance of the scheme shall be benchmarked against Nifty India Consumption TRI Index and its fund managers are Viresh Joshi and Deepak Agarwal.

The investment objective of the Scheme is to provide returns before expenses that closely correspond to the total returns of the NIFTY India Consumption Index subject to tracking errors.