Axis Asset Management Company Limited has launched a new fund offer for Axis Nifty 50 Index Fund. The fund is open for subscription between November 15, 2021, and November 29, 2021.
Read on to find out more about the NFO.
Axis Nifty 50 Index Fund is an Open-Ended Index Fund tracking the NIFTY 50 Index.
Indicative Asset Allocation
|Types of Instruments||Indicative allocation (% of total assets)||Risk Profile|
|Securities covered by Nifty 50 Index *||95%||100%||High|
|Debt and Money Market Instruments||0%||5%||Low to Medium|
|Scheme name||Axis Nifty 50 Index Fund|
|Type of scheme||An Open Ended Index Fund tracking the NIFTY 50 Index.|
|NFO Dates||November 15 – November 29, 2021.|
|Fund Managers||Mr. Jinesh Gopani|
|Benchmark||Nifty 50 Index TRI|
|Minimum Amount for Application during NFO||Rs. 5,000 and in multiples of Rs. 1/- thereafter|
|Minimum Additional Purchase Amount||Rs. 1,000 and in multiples of Re. 1/- thereafter|
|Minimum Redemption/Switch-Out Amount||No minimum redemption criterion|
|Load||a) Entry Load: N.A
b) Exit Load: Nil
|Plans||Direct and Regular|
|Options||Growth, Income Distribution cum capital withdrawal (“IDCW”) Option (Payout of IDCW)^|
|Minimum SIP Amount||Rs. 1,000/- and in multiple of Re. 1/-
Minimum installments: 6
Nifty 50 Index TRI
The NIFTY 50 represents the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.
A Total Return Index reflects the returns on the index arising from:
(a) Listed stock price movements and
(b) Dividend receipts from those stocks.
Mr. Jinesh Gopani
Mr Gopani has worked as a Fund Manager – Equity at Axis Asset Management Co. Ltd. since April 1, 2011. In the past, he has worked as Assistant Fund Manager – Equity, Axis Asset Management Co. Ltd. (October 21, 2009 till March 31, 2011) Portfolio Manager, Birla Sun Life Asset Management Company Ltd. (June 2008- October 2009)
Research Analyst and Portfolio Manager, Voyager India Capital Pvt. Ltd. (February 2006- May 2008) Research Analyst, Emkay Share & Stock Brokers Ltd. (June 2002 – February 2006) Research Analyst, Net worth Stock Broking Ltd.(May 2001 – May 2002).
Other schemes managed:
Axis Focused 25 Fund (along with Mr. Hitesh Das)
Axis Long Term Equity Fund
Axis Growth Opportunities Fund (along with Hitesh Das (for foreign securities)
Axis Retirement Savings Fund including Aggressive Plan
Dynamic Plan and Conservative Plan (along with Mr. R. Sivakumar)
Axis ESG Equity Fund (along with Mr. Hitesh Das)