Axis Banking ETF NFO Period From 16th October to 29th October 2020:
Axis Mutual Fund introduced its new fund offer, namely Axis Banking ETF. So then, this fund comes as an open-ended scheme and the fund category is Other Scheme-Other ETFs Fund. Besides, the NFO subscription period started on 16th October and it will be closed on 29th October 2020.
|Fund Name||Axis Banking ETF|
|Fund House||Axis Mutual Fund|
|Benchmark||Nifty Bank TRI Index|
|NFO Period||16th October to 29th October 2020|
The Axis Mutual Fund NFO offered the initial price of Rs. 100 per each unit in the subscription period. Moreover, the face value of the mutual fund is Rs. 100 per each unit. The benchmark of this NFO is Nifty Bank TRI Index.
Entry Load and Exit Load:
There was nil entry load for this NFO. Similarly, nil exit loads applicable to this new fund offer. Similarly, the nil exit loads applicable for this NFO.
Axis Banking ETF Minimum Investment Amount:
Significantly, as per the draft prospectus, the minimum investment for the initial purchase stood as Rs. 5,000 and in multiples of ₹ 1 thereafter. Furthermore, the minimum target amount of the scheme is Rs. 10 Cr.
|Instruments||Allocation (% of net assets)||Risk Profile|
|Equity instruments covered by Nifty Bank Index||95% to 100%||High|
|Debt & Money Market Instruments||0% to 5%||Low to Medium|
Objects of the NFO:
The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the Nifty Bank Index. As well as, the investor needs to know the fund has been introduced with the high-risk principle. It schemes available in both the direct plan and regular plan.
Disclaimer: This article offers just information regarding the scheme. It does not provide any advice or investment tips to investors. MF investments are fixed to market risk.