Axis Mutual Fund launches Axis NASDAQ 100 Fund of Fund – Check Details | The Financial Express

Axis Mutual Fund launches Axis NASDAQ 100 Fund of Fund – Check Details

The scheme is an open-ended fund of fund scheme investing in units of ETFs focused on the Nasdaq 100 TRI.

Axis Mutual Fund launches Axis NASDAQ 100 Fund of Fund – Check Details
The NASDAQ 100 Index includes 100 of the largest non-financial companies on NASDAQ stock market, based on market capitalization.

Axis Mutual Fund, one of the leading asset management companies in India announced the launch of the Axis NASDAQ 100 Fund of Fund (an open-ended fund of fund scheme investing in units of ETFs focused on the Nasdaq 100 TRI). The fund would focus on replicating the performance of the NASDAQ 100 TRI by investing in ETFs whose primary objective would be to track/replicate the performance of the Nasdaq 100 TRI, subject to tracking errors.

The minimum application amount would be Rs 500 per application and in multiples of INR 1 thereafter. With Hitesh Das (Fund Manager – Overseas Investments) helming the Axis NASDAQ 100 Fund of Fund, the fund would be benchmarked against the NASDAQ 100 TRI (INR).

Also Read: Biggest difference between Indian and US stock markets is about making stock-buying affordable

Salient features of the Axis NASDAQ 100 Fund of Fund

  • The fund would be investing in some overseas NASDAQ-100 ETFs tracking NASDAQ 100 Index such as the Xtrackers Nasdaq 100 UCITS ETF, iShares NASDAQ 100 UCITS ETF, Invesco EQQQ NASDAQ-100 UCITS ETF
  • These ETFs have historically demonstrated their ability for comparatively lower tracking error, thereby benefiting the fund
  • Access to some of the largest non-financial companies
  • Opportunity to leverage top global expertise
  • Better execution capabilities

Also Read: Buying Top US Stocks from India: How to invest in shares of Apple, Amazon, Tesla, Microsoft and many others

The NASDAQ 100 Index includes 100 of the largest non-financial companies on the NASDAQ stock market, based on market capitalization. It is home to global growth and innovation. The current NASDAQ 100 Index is a tech-heavy index and has exposure to new economy sectors such as healthcare, technology, and consumer. It is predominantly led by some of the most innovative and rapidly expanding non-financial companies across the world that generate the bulk of their revenue from different countries. In addition to giving the benefit of global exposure and potentially reducing concentrated geographical risk for investors, NASDAQ-100 may also work as a hedge against INR depreciation.

Chandresh Nigam, MD & CEO, Axis AMC said, “As investors are maturing and taking an active interest in their wealth creation journey, the paradigms of asset allocation are changing dynamically as well. With global boundaries slowly blurring, investors are eager to gain access to some international growth stories, which were earlier not feasible so seamlessly. With the Axis NASDAQ 100 Fund of Fund, we are presenting investors with the opportunity to gain global exposure. We are confident that the fund’s philosophy and underlying structure will make it a valuable addition for investors.”

The NFO opens for subscription on 7th October 2022 and closes on 21st October 2022.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos
7 Photos
Assembly Election Results 2022: BJP’s celebratory dance in Gujarat, Congress exudes confidence in Himachal – See Photos
10 Photos
Realme 10 Pro Plus launched in India: The 10-point rough cut
9 Photos
AAP sweeps away 15 year BJP reign in MCD election – Photos from celebrations