Warm Greeting To Our Readers!!
“Axis Mutual Fund launches ‘Axis NIFTY Midcap 50 Index Fund’ NFO. The fund is open for subscription between March 10, 2022, to March 21, 2022!!”
Read below for more details about the NFO!
Basic Details About The New Fund Offer!!
- Fund Name- Axis NIFTY Midcap 50 Index Fund
- Type- An open-ended hybrid fund.
- Subscription open date- 10th March 2022
- Subscription close date- 21st March 2022
- Benchmark- Nifty Midcap 50 Index TRI
- Minimum Amount for Application during NFO- Rs. 5,000 and in multiples of Re. 1/- thereafter
- Minimum Additional Purchase Amount- Rs. 1,000 and in multiples of Re. 1/- thereafter
- Plans- Both Direct and Regular Plans are available
- Options Available- Both Growth and Income Distribution Cum Capital Withdrawal Option (ICDW)
The ITI Conservative Hybrid Fund is an open-ended hybrid scheme that invests predominantly in debt instruments.
The scheme seeks to provide returns before expenses that closely correspond to the total returns of the NIFTY MIDCAP 50 subject to tracking errors. However, there can be no assurance that the investment objective of the Scheme will be achieved.
Exit Load And Entry Load Trends!!
The NFO does not charge any entry load but it has trends for exit load listed below:
- If redeemed or switched out within 7 days from the date of allotment, the exit load charged is equal to 0.25% of the sell value.
- If redeemed/switched out after 7 days from the date of allotment, no exit load charged.
Fund Managers Of The NFO!!
The fund manager appointed to manage the new NFO is Mr. Jinesh Gopani.
Mr. Gopani has completed M.M.S. in Finance from Mumbai University. A total experience of 16 years in the capital markets of which 8 years are in equity fund management. Previous experience includes Birla Sun Life Mutual Fund and Voyager Capital.
Who Should Invest In This NFO?
The product is suitable for investors who are seeking
- Long term wealth creation solution
- An index fund that seeks to track returns by investing in a basket of Nifty Midcap 50 Index stocks and aims to achieve returns of the stated index, subject to tracking error.
Note: Investors should consult their financial advisers if in doubt about whether the product is suitable for them or you can also get in touch with our executives for more suggestions.
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For any kind of query, you can contact us at Shri Ashutosh Securities Pvt Ltd., we are here to help you in any way possible.
(Mutual Fund investments are subject to market risk Illustrations are for example only, there is no guarantee of returns. Past performance is not an indicator/guarantee to future returns).