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Axis Mutual Fund (MF) has launched Axis NASDAQ 100 Fund of Fund, an open-ended fund of fund scheme investing in units of ETFs focused on the Nasdaq 100 TRI. The NFO opens for subscription on October 07, 2022 and closes on October 21, 2022. The Entry load is not applicable for the scheme. The Exit load will be 1%, if redeemed / switched-out within 7 Days from the date of allotment and nil, if redeemed / switched-out after 7 days of allotment. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.

The performance of the scheme would be benchmarked against NASDAQ 100 TRI (INR) and its fund manager is Hitesh Das (for Foreign Securities).

The investment objective of the scheme is to replicate the performance of the Nasdaq 100 TRI by investing ETFs whose primary objective is to track/replicate the performance of the Nasdaq 100 TRI, subject to tracking errors.