Axis Mutual Fund: Axis launches open-ended index fund, know when it will open for subscription…

Axis Mutual Fund: Axis Mutual Fund has announced the launch of Axis Nifty 500 Momentum 50 Index Fund, an open-ended index fund tracking the Nifty 500 Momentum 50 TRI.

Will open for subscription from 24th January

The New Fund Offer (NFO) will open for subscription on January 24 and will close on February 7, 2025. This fund has been benchmarked against Nifty 500 Momentum 50 TRI (Axis Mutual Fund). It will be managed by Karthik Kumar (Axis Mutual Fund) and Sachin Relekar.

Investment objective of the scheme

The investment objective of the scheme is to provide returns (before expenses) in line with the Nifty 500 Momentum 50 TRI as reported by the fund house.

By focusing on high-performing stocks, this index fund provides investors with the opportunity to benefit from stocks that have performed well recently, which can potentially enhance future returns.

Investing in Top 50 High Momentum Stocks

Axis Nifty 500 Momentum 50 Index Fund aims to provide investments in the top 50 high momentum stocks. The key feature of the Nifty 500 Momentum 50 Index is that it selects stocks across large, medium and small caps, eliminating the need for investors to follow multiple momentum strategies based on market cap size.

Minimum Application Amount (Axis Mutual Fund)

The minimum application amount is Rs 100, after which investments can be made in multiples of Re 1. The scheme follows a passive investment strategy, investing in stocks that make up the Nifty 500 Momentum Index.

If the amount is encashed or switched out within 15 days from the date of allotment, an exit load of 0.25 per cent will be applicable. If the amount is encashed or switched out after 15 days from the date of allotment, the exit load will be nil.