Axis MF introduces Nifty Bank Index Fund
Axis Mutual Fund (MF) has launched Axis Nifty Bank Index Fund, an open-ended Index fund tracking the Nifty Bank TRI. The NFO opens for subscription on May 03, 2024 and closes on May 17, 2024. The Entry load is not applicable for the scheme. The Exit load will be 0.25% - if redeemed/ switched out within 7 days from the date of allotment/ Investment and nil -if redeemed/ switched out after 7 days from the date of allotment/ Investment. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.
The performance of the scheme will be benchmarked against Nifty Bank TRI and its fund managers are Karthik Kumar and Ashish Naik.
The investment objective of the Scheme is to provide returns before expenses that corresponds to the total returns of the Nifty Bank TRI subject to tracking errors.
