Axis Mutual Fund Mumbai: Axis Mutual Fund, one of the leading asset management companies in India announced the launch of Axis NIFTY Midcap 50 Index Fund (an open ended Index Fund tracking the NIFTY Midcap 50 Index), on Wednesday.
Managed by Jinesh Gopani, Head – Equity, the fund will track the NIFTY Midcap 50 Index TRI. The NFO opens for subscription on 10th March 2022 and closes on 21st March 2022.
The minimum application amount is INR 5,000 and in multiples of INR 1, thereafter.
Exit load is as mentioned below:
· If redeemed or switched out within 7 days from the date of allotment: is 1%
· If redeemed / switched out after 7 days from the date of allotment: Nil
Chandresh Nigam, MD & CEO, Axis AMC said, “In the broader market, Midcaps have consistently outperformed making them ideal for long term wealth creation. Along with an attractive entry point for long term investors, they also offer a favourable risk-reward quotient. The introduction of the Axis NIFTY Midcap 50 Index Fund, aligns with our belief of offering quality products to investors that suits their risk appetite. We believe it will be a notable addition to our portfolio of passive offerings.”
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