Axis Mutual Fund Debuts Axis NIFTY Midcap 50 Index Fund: Check NFO Offer

Axis Mutual Fund, one of India's major asset management companies, has unveiled the debut of the Axis NIFTY Midcap 50 Index Fund in the midst of the market slump. The fund is an open-ended Index Fund tracking the NIFTY Midcap 50 Index. Mr. Jinesh Gopani, Axis AMC's Head of Equity, will manage the fund.

NIFTY Midcap 50 comprises the top 50 companies from the NIFTY Midcap 150 index based on total market capitalization, with a bias for stocks with derivative contracts accessible on the National Stock Exchange (NSE).

Midcap stocks are the 101st to 250th largest firms by market capitalization and hence these are start-ups that can generate market-linked returns with having a decent portfolio diversification and are cost-effective in order to achieve growth and wealth creation. Thus, investing in the Axis Nifty Midcap 50 Index fund can be a decent approach for diversification as the fund invests in quality midcap firms with growth prospects.

Benefits of Axis NIFTY Midcap 50 Index Fund

• According to the Axis Mutual Fund house's website, the minimum application amount is Rs 5,000, with subsequent amounts in multiples of Rs 1. The NFO will open for subscription on March 10th, 2022, and end on March 21st, 2022.
• Exposure to the top 50 midcaps by market capitalization in a single portfolio with high-quality, liquid stocks.
• The scheme's benchmark is the Nifty Midcap 50 Index TRI.
• The fund has an exit load of 0.25 percent if redeemed/switched out within 7 days from the date of allotment/ investment.
• Those eager to contribute can do so in lump payments, SIPs, or by switching into the scheme. Investors interested in SIPs can begin with a minimum SIP of Rs. 1,000/- and in multiples of Rs. 1/- each month. Whether during the NFO period or afterward, there is a maximum investment amount.