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Today Date : Wednesday, July 24, 2024

Axis Mutual Fund launches ‘Axis S&P 500 ETF Fund of Fund’

Axis Mutual Fund launches ‘Axis S&P 500 ETF Fund of Fund’

Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – 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). 

Minimum investment

The new fund will adhere to the S&P 500 TRI (INR) benchmark. Mr. Vinayak Jayanath would be managing the fund and the minimum investment amount is Rs. 500 and in multiples of Re. 1/- thereafter. The exit load is as mentioned below: If redeemed/switched-out within 30 Days from the date of allotment – 0.25%. If redeemed/switched-out within 30 Days of allotment – Nil Chandresh Nigam, MD & CEO, Axis AMC said, “ETFs are soon becoming popular amongst the various vehicles of investing in passive strategies in India. In India, Fund of Funds can be considered as an interesting entry point for investors with a longer investment horizon and who wish to diversify their portfolio from a global standpoint. 

With the launch of the Axis S&P 500 ETF Fund of Fund, we are seamlessly enabling global exposure through passive strategies. The new scheme’s approach aligns with our philosophy of ‘Responsible Investing’ and we believe, will be a notable addition to our portfolio of products.”The NFO opens for subscription from March 22, 2023 to April 05, 2023. For more information, please visit www.axismf.com.