Axis NIFTY IT Index Fund NFO Review, Offer Details

Axis NIFTY IT Index Fund New Fund Offer Review

Updated on 17 Oct, 2023

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Axis Mutual Fund is launching a 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 26th May 2023 to 8th June 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 Offer Details

Fund Name	Axis NIFTY IT Index Fund
NFO Opening Date	26th May 2023
NFO Closing Date	8th May 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/-
Minimum SIP/SWP/STP for monthly frequency is INR 1,000/-

Who Can Invest in Axis NIFTY IT Index Fund NFO?

Axis NIFTY IT Index Fund is an index fund that invests in companies that form part of the Nifty IT index. The NIFTY IT index captures the performance of Indian IT companies. The index comprises 10 companies listed on the National Stock Exchange. NIFTY IT index is computed using the free float market capitalization method.

Therefore, investors seeking exposure to an equity scheme and having high-risk tolerance levels can consider investing in the scheme. Also, investors must be well aware of the associated risks in the Informational Technology industry. 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.

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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

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Frequently Asked Questions

How Can I Invest in the Axis NIFTY IT Index Fund?

You can invest in the fund through any of the following methods:
Offline: By filling out the Axis NFO application and submitting it along with all documents and cheques to the nearest Investor Service Centre of CAMS or Axis mutual fund office.
Online:
Axis Mutual Fund Website
Online FinTech platforms and mutual fund platforms
Through Demat account
Through a mutual fund distributor or agent

Is Axis NIFTY IT Index Fund risky?

Yes, it is a very high-risk investment based on the riskometer. Axis NIFTY IT Index Fund is an index fund that closely tracks the Nifty IT Index. The IT index comprises 10 companies Information Technology companies listed on the National Stock Exchange.

Is there a lock-in period for Axis NIFTY IT Index Fund?

No, the Axis NIFTY IT Index Fund has no lock-in period.

When will the scheme open for ongoing subscriptions, switches and redemptions?

The Axis NIFTY IT Index Fund scheme re-opens for ongoing subscriptions, switches and redemptions within 5 business days.