Publish Date:
Axis Mutual Fund has launched – Axis S&P 500 ETF Fund of Fund
It is an open-ended fund of fund investing in Exchange Traded Funds replicating S&P 500 TRI, subject to tracking errors.
Accordingly, the investment objective is to replicate the performance of the S&P 500 TRI by investing in Exchange Traded Funds replicating S&P 500 TRI, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Under normal circumstances, Axis S&P 500 ETF Fund of Fund will hold an allocation of 95% to 100% of its assets in Units / shares of Exchange Traded Funds replicating S&P 500 TRI and 0% to 5% in Debt, Money market instruments and / or units of liquid schemes.
As per the Scheme Information Document, the investment strategy of Axis S&P 500 ETF Fund of Fund is to replicate the performance of the S&P 500 Index by investing in Exchange Traded Funds, subject to tracking errors.
Axis S&P 500 ETF Fund of Fund’s performance will be benchmarked against S&P 500 TRI (INR)
The scheme will be managed by Mr Vinayak Jayanath (for Foreign Securities)
The NFO opens for subscription on March 22, 2023, and closes on April 05, 2023. The schemes will reopen for continuous sale and repurchase on Within five Business Days from the date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 500/- and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.