Axis Mutual Fund, one among the fastest growing fund houses in India, is pleased to announce the launch of its New Fund Offer – Axis S&P BSE Sensex Index Fund (an open-ended index fund tracking the S&P BSE Sensex TRI). The fund will be managed by Mr. Karthik Kumar (Fund Manager) and Mr. Ashish Naik (Fund Manager). The new fund will track the S&P BSE Sensex TRI benchmark. The minimum investment amount is Rs. 500 and in multiples of Re.1/- thereafter.
The S&P BSE Sensex Index is a free float market-weighted stock market index representing 30 financially sound Indian large cap companies listed on the Bombay Stock Exchange. It provides investors with a diversified portfolio and a single index to track the growth stories of various sectors.
The Axis S&P BSE Sensex Index Fund aims to provide returns before expenses equivalent to the total returns of the S&P BSE Sensex TRI, subject to tracking errors. The scheme invests in stocks in the same ratio as the index, with 95% to 100% of investments in securities covered by the index. Mr. B. Gopkumar, MD & CEO, Axis AMC said, “The fund also aims to offer a cost-effective solution to participate in the market’s growth narrative.”
