Axis Mutual Fund files offer document for Axis Nifty Midcap 50 Index Fund
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Axis Mutual Fund has filed offer document with SEBI to launch an open ended index traded fund named ‘Axis Nifty Midcap 50 Index Fund ‘. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and Exit load if redeemed or switched out within 7 days from the date of allotment will be 1%; if redeemed / switched out after 7 days from the date of allotment will be Nil. The scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by Nifty Midcap 50IndexTRI. The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to provide returns before expenses that closely corresponds to the total returns of the NIFTY MIDCAP 50subject to tracking errors.
