Axis NASDAQ 100 Fund-of-Fund

Axis Mutual Fund, asset management company in India announced the launch of the Axis NASDAQ 100 Fund of Fund (an open ended fund of fund scheme investing in units of ETFs focused on the Nasdaq 100 TRI). 
The fund would focus on replicating the performance of the NASDAQ 100 TRI by investing ETFs whose primary objective would be to track/replicate the performance of the Nasdaq 100 TRI, subject to tracking errors.

The minimum application amount would be Rs. 500 per application and in multiples of Rs. 1/- thereafter. With Hitesh Das (Fund Manager – Overseas Investments) helming the Axis NASDAQ 100 Fund of Fund, the fund would be benchmarked against the NASDAQ 100 TRI (INR).  The fund would be investing in some overseas NASDAQ-100 ETFs tracking NASDAQ 100 Index such as the Xtrackers Nasdaq 100 UCITS ETF, iShares NASDAQ 100 UCITS ETF, Invesco EQQQ NASDAQ-100 UCITS ETF.