Axis Mutual Fund Launches ‘Axis Nifty 500 Index Fund’

(An Open-Ended Index Fund tracking the Nifty 500 TRI)

Highlights:

· Category: Open-Ended Index Fund

· Benchmark: Nifty 500 TRI

· Fund Managers: Mr. Karthik Kumar and Mr. Sachin Relekar

· NFO Period: June 26, 2024 – July 09, 2024

· Minimum Investment: Rs.100 and in multiples of Re. 1/- thereafter

· Exit Load:

o If redeemed/ switched out within 15 days from the date of allotment: 0.25%

o If redeemed/ switched out after 15 days from the date of allotment: Nil

Bengaluru, June 25, 2024: Axis Mutual Fund, one among the fastest growing fund houses in India, is pleased to announce the launch of its New Fund Offer – Axis Nifty 500 Index Fund. This open-ended index fund aims to replicate the performance of the Nifty 500 Total Return Index (TRI), offering investors broad exposure to India’s top 500 companies listed on the National Stock Exchange (NSE). The New Fund Offer (NFO) opens on June 26, 2024, and will close on July 09, 2024. The fund will be managed by Mr. Karthik Kumar and Mr. Sachin Relekar.

India is one of the fastest growing economies globally and could become the third largest economy by 2027. The Nifty 500 Index aims to capture this growth story through the performance of a broad universe of companies, providing investors with diversified exposure to the Indian equity market. Accordingly, the Axis Nifty 500 Index Fund aims to provide returns before expenses that closely correspond to the total returns of the Nifty 500 Index, subject to tracking errors. Therefore, investors who wish to capitalize on this growth opportunity, can consider exposure to this fund.

Mr. B. Gopkumar, MD & CEO of Axis AMC, said “At Axis Mutual Fund, our objective has always been to provide investors with innovative and high-quality investment solutions. The Axis Nifty 500 Index Fund is a simple passive fund designed to offer investors a simple yet effective way to participate in the growth story of a broad spectrum of Indian companies. We believe that the fund’s broad-based approach, coupled with the potential for sustainable long-term returns, will serve as a robust vehicle for wealth creation over the long term, making it an attractive option for both new and experienced investors.”

Managed by Axis Mutual Fund’s experienced team, the fund replicates the broad market exposure of the Nifty 500 Index, representing approximately 92% of India’s listed market capitalization. This extensive coverage translates into a well-balanced allocation across market segments, with approximately 73% in large-cap, 17% in mid-cap, and 10% in small-cap stocks.

Who Should Invest?

Long-term investors seeking broad market exposure to the top 500 companies in India.
First-time investors looking for a simple and diversified investment option.
Experienced investors aiming to complement their portfolio with a low-cost, passive investment strategy.

Mr. Ashish Gupta, Chief Investment Officer of Axis AMC, added, “India’s robust economic growth and market resilience have been remarkable. With the growing acceptance of passive investing, it is essential to offer our investors products that align with their evolving investment strategies. As India continues to benefit from structural advantages, this fund provides a strategic opportunity for investors to participate in India’s dynamic growth story.”

Key Attributes of the Axis Nifty 500 Index Fund:

· Diversified Exposure: The fund provides broad exposure to the top 500 companies, ensuring a diversified investment portfolio across sectors and market capitalizations

· Wider Market Cap Coverage: Nifty 500 covers around 92% of India’s listed universe, covering all 21 sectors across Large Cap, Mid Cap & Small Cap companies

· Simple yet Effective: The Nifty 500 Index is a comprehensive benchmark of the Indian equity market, making this fund an ideal choice for investors seeking market-linked equity returns, suitable for all types of investors

· Lower Expenses: As a passively managed index fund, it offers lower expenses compared to actively managed funds, providing a cost-effective investment option

· Aims for Long Term Returns: Nifty 500 Index Fund aims to deliver better risk adjusted returns in the long run

For detailed information on the investment strategy and to view the Scheme Information Document (SID)/Key Information Memorandum (KIM), please visit www.axismf.com.