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Axis Mutual Fund has filed offer document with SEBI to launch an open ended Index Fund named ‘Axis Nifty 500 value 50 Index Fund'. The New Fund Offer price is Rs 10. Entry load will be nil and exit load for If redeemed/ switched out within 15 days from the date of allotment will be 0.25%; If redeemed/ switched out after 15 days from the date of allotment will be Nil. The Scheme offers Growth Option only for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.

The performance of the scheme will be benchmarked by Nifty 500 Value 50 TRI. The minimum application amount is Rs 100 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to provide returns before expenses that correspond to the Nifty500 Value 50 TRI subject to tracking error.