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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.

NFO Reviews

Axis Nifty IT Index Fund

Axis Nifty IT Index Fund Details

Fund NameAxis Nifty IT Index Fund
NFO Opening Date27th June 2023
NFO Closing Date11th July 2023
Re-open DateWithin 5 business days
Type of FundIndex Fund
Fund ManagerMr Hitesh Das
Minimum Investment AmountINR 5,000
Minimum Additional Purchase AmountINR 1,000
Exit Load0 – 0.25%
SuitabilityVery High Risk
BenchmarkNifty IT TRI
Plans and OptionsDirect and Regular PlanGrowth and Income Distribution cum Capital Withdrawal (IDCW) Option


  • 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

Asset Allocation

Types of InstrumentsMinimum Allocation Maximum Allocation Risk Profile
Securities covered by Nifty IT TRI95%100%Very High
Debt & Money Market Instruments 0%5%Low to Moderate

Frequently Asked Questions

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

You can invest in the Axis Nifty IT Index 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.
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 a theme-based index fund that closely tracks the Nifty IT Index. The IT index comprises the top 10 IT companies listed on the National Stock Exchange by market capitalisation.  

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.