Axis MF introduces Banking ETF

Axis Mutual Fund (MF) has launched the Axis Banking ETF, an open-ended scheme replicating / tracking NIFTY Bank Index. The NFO opens for subscription on October 16, 2020, 2020 and closes on October 29, 2020. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against its performance to Nifty Bank TRI Index and its fund manager is Ashish Naik.

The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the NIFTY Bank Index subject to tracking errors.