Axis Mutual Fund launches Axis Banking ETF

NFO period: 16^th October – 29^th October, 2020

Highlights of the NFO:

• Scheme type – An open ended scheme replicating / tracking NIFTY Bank Index


• Investment objective – The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the NIFTY Bank Index subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.


• Product suitability – 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 Bank Index stocks and aims to achieve returns of the stated index, subject to tracking error.


• Minimum Application Amount – First investment is Rs. 5,000/- and in multiple of Rs. 1/- thereafter


• Plan/ Options available – Not available.


• Fund Managers – Mr. Ashish Naik


• Benchmark – Nifty Bank TRI Index