Axis Nifty IT Index Fund NFO

Axis Mutual Fund is launching a new index fund, Axis Nifty IT Index Fund NFO, that seeks to track the Nifty IT Index closely and aims to achieve returns of the index, subject to tracking errors. 

The New Fund Offer (NFO) period for the Axis Nifty IT Index Fund is from 27th June 2023 to 11th July 2023. The scheme re-opens for continuous repurchase and sale within 5 business days.

Investment Objective: To provide returns before expenses that correspond to the total returns of the NIFTY IT TRI subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

Axis Nifty IT Index Fund Details

Fund Name	Axis Nifty IT Index Fund
NFO Opening Date	27th June 2023
NFO Closing Date	11th July 2023
Re-open Date	Within 5 business days
Type of Fund	Index Fund
Fund Manager	Mr Hitesh Das
Minimum Investment Amount	INR 5,000
Minimum Additional Purchase Amount	INR 1,000
Exit Load	0 – 0.25%
Suitability	Very High Risk
Benchmark	Nifty IT TRI
Plans and Options	Direct and Regular PlanGrowth and Income Distribution cum Capital Withdrawal (IDCW) Option

NOTE:

• All additional investment amounts should be multiple of INR 1/-

Who Can Invest in Axis Nifty IT Index Fund NFO?

Axis Nifty IT Index Fund is a theme-based index fund that invests in the companies that form part of the Nifty IT index. The Nifty IT index captures the performance of the IT sector. Nifty IT index consists of the top 10 IT companies. The NIFTY IT index is computed using the free float market capitalisation method. The IT sector’s share of India’s GDP has almost doubled in the last decade from 2.2% to 4.8%, indicating significant growth.

Investors seeking exposure to the IT sector and having very high-risk tolerance levels can consider investing in the scheme. Also, since it is a thematic fund, investors must be aware of the industry-specific risks. This index fund requires a minimum investment horizon of 5 years or more.

Fund Manager

Mr Hitesh Das

Mr Hitesh Das is currently the Equity Research Analyst at Axis Mutual Fund. He has more than twelve years of experience in financial markets. He joined Axis Mutual Fund in 2015. Prior to working with Axis, he worked with Barclays and Credit Suisse Securities India. Moreover, as a Research Analyst at Axis Mutual Fund, he covered Capital Goods, Engineering & Construction, and Information Technology sectors. He also holds a Bachelors’s and Master’s degree in technology and a Diploma in Management from IIM Lucknow.

Popular Funds by Axis Mutual Fund

• Axis Long Term Equity Fund
• Axis Small Cap Fund
• Axis Midcap Fund
• Axis Growth Opportunities Fund
• Axis Focused 25 Fund

Asset Allocation

Types of Instruments	Minimum Allocation	Maximum Allocation	Risk Profile
Securities covered by Nifty IT TRI	95%	100%	Very High
Debt & Money Market Instruments	0%	5%	Low to Moderate

Frequently Asked Questions