Mutual Fund NFO: This fund has minimum investment of Rs 100; will invest in top Nifty 500 companies. Who should invest?

Axis Mutual Fund NFO: Asset management company Axis Mutual Fund has launched a new fund Axis Nifty 500 Index Fund in the equity category. The New Fund Offer (NFO) opened on Wednesday (June 26, 2024) and will close on July 09, 2024. It is an open-ended index fund tracking the Nifty 500TRI index. Through the investment, investors will get an opportunity to invest in India's top 500 companies listed on the National Stock Exchange (NSE).

Minimum investment

Axis Mutual Fund house says that one can invest in the Axis Nifty 500 Index Fund with a minimum of Rs 100 and thereafter, in multiples of Rs 1.

The fund managers of the scheme are Karthik Kumar and Sachin Relekar.

In this scheme, a 0.25 per cent exit load will have to be paid on redemption/switch out within 15 days from the date of allotment.

Exit load is zero on redemption/switch out after 15 days.

B Gopakumar, MD & CEO, Axis AMC said, "Axis Nifty 500 Index Fund is a simple passive fund designed to provide investors with enhanced exposure to a broad spectrum of growth of Indian companies."

This scheme will provide an opportunity for balanced investment in different market segments.

It invests about 73 per cent in large-cap, 17 per cent in mid-cap and 10 per cent in small-cap stocks.

Who should invest?

The mutual fund house says that this is a good option for creating wealth in the long term.

Long-term investors looking to invest in India's top 500 companies can invest.

This fund is a good option for investors looking for simple and diversified investment options with a low-cost, passive investment strategy.

(Disclaimer: Here are the details of the NFO. This is not an investment advice. Investment in mutual funds is subject to market risks. Consult your advisor before taking any investment decision.)