Axis Mutual Fund, a rapidly growing Indian fund house, has launched its new fund offer, the Axis S&P BSE Sensex Index Fund, an open-ended index fund tracking the S&P BSE Sensex TRI. The fund will be managed by Mr. Karthik Kumar (Fund Manager) and Mr. Ashish Naik (Fund Manager). The new fund will track the S&P BSE Sensex TRI benchmark. The minimum investment amount is Rs. 500 and in multiples of Re.1/- thereafter.
The Axis S&P BSE Sensex Index Fund aims to provide returns before expenses equivalent to the total returns of the S&P BSE Sensex TRI, subject to tracking errors. The scheme invests in stocks in the same ratio as the index, with 95% to 100% of investments in securities covered by the index. The NFO opens on 8th Feb 2024 and closes on 22nd Feb 2024.
The S&P BSE Sensex Index is a free float market-weighted index representing 30 financially sound, well-established Indian large cap companies listed on the Bombay Stock Exchange. Considering the wide spectrum of sectors the index covers, it offers investors a diversified portfolio and an opportunity to participate in the growth story of various sectors with a single index. Mr. B. Gopkumar, MD & CEO, Axis AMC said, “The fund also aims to offer a cost-effective solution to participate in the market’s growth narrative.”
