Axis Mutual Fund launches ‘Axis S&P BSE Sensex ETF’
New Delhi: Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis S&P BSE Sensex ETF (An Open Ended Exchange Traded Fund Tracking S&P BSE Sensex TRI).
Ashish Naik (Fund Manager) would be managing the fund and the minimum investment amount is Rs. 5,000 and in multiples of Re.1/- thereof.
The new fund will track the S&P BSE Sensex TRI benchmark and endeavour to generate alpha by investing in domestic equity ETFs basis the fund manager’s top down investment view.
ETFs are soon becoming one of the most popular vehicles of investing in passive strategies as they replicate the portfolio of the underlying index while trading in bite sized units on an exchange at market determined prices.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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