Axis Mutual Fund launches Axis NASDAQ 100 Fund of Fund

Axis Mutual Fund has introduced the launch of the Axis NASDAQ 100 Fund of Fund (an open-ended fund of fund scheme investing in items of ETFs centered on the Nasdaq 100 TRI).

The new fund supply opens for subscription on 7 October and closes on 21 October.

The fund would concentrate on replicating the efficiency of the NASDAQ 100 TRI by investing ETFs whose main goal can be to trace/replicate the efficiency of the Nasdaq 100 TRI.

The minimal software quantity can be ₹500 per software and in multiples of ₹1 thereafter. The fund supervisor is Hitesh Das and the fund can be benchmarked in opposition to the NASDAQ 100 TRI (INR).

According to the press launch, the NASDAQ 100 Index contains 100 of the biggest non-financial firms on NASDAQ inventory market, primarily based on market capitalization. It is dwelling to world development and innovation. The present NASDAQ 100 Index is a tech-heavy index and has publicity to new economic system sectors akin to healthcare, expertise and client. It is predominantly led by a number of the most progressive and quickly increasing non-financial firms the world over that generate the majority of their income from totally different international locations. In addition to giving the good thing about world publicity and doubtlessly decreasing concentrated geographical danger for traders, NASDAQ-100 may work as ha edge in opposition to INR depreciation, it added.

Chandresh Nigam, MD & CEO, Axis AMC mentioned, “As traders are maturing and taking an energetic curiosity of their wealth creation journey, the paradigms of asset allocation are altering dynamically as properly. With world boundaries slowly blurring, traders are keen to realize entry to some worldwide development tales, which was earlier not possible so seamlessly. With the Axis NASDAQ 100 Fund of Fund, we’re presenting traders with the chance to realize world publicity. We are assured that the fund’s philosophy and underlying construction will make it a worthwhile addition for traders.”

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