Axis MF introduces S&P 500 ETF Fund of Fund
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Axis Mutual Fund (MF) has launched Axis S&P 500 ETF Fund of Fund, an open-ended fund of fund investing in Exchange Traded Funds replicating S&P 500 TRI, subject to tracking errors. The NFO opens for subscription on March 22, 2023 and closes on April 05, 2023. The Entry load is not applicable for the scheme. The Exit load will be 0.25%, if redeemed / switched-out within 30 Days from the date of allotment and nil, if redeemed / switched-out after 30 days of allotment. The minimum subscription amount is 500 and in multiples of Re 1 thereafter.
The performance of the scheme will be benchmarked against S&P 500 TRI (INR) and its fund manager is Vinayak Jayanath.
The investment objective of the Scheme is to replicate the performance of the S&P 500 TRI by investing in Exchange Traded Funds replicating S&P 500 TRI, subject to tracking errors.
