Axis Mutual Fund has launched the Axis S&P BSE Sensex Index Fund, an open-ended index fund tracking the S&P BSE Sensex TRI benchmark. The fund will be managed by Mr. Karthik Kumar and Mr. Ashish Naik and will open on February 8th, 2024, and close on February 22nd, 2024. The minimum investment is Rs. 500 and in multiples of Rs. 1/- thereafter.
The S&P BSE Sensex Index is a free float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. The fund aims to provide returns before expenses that correspond to the total returns of the S&P BSE Sensex TRI subject to tracking errors. The scheme aims to invest in stocks forming part of the underlying index in the same ratio as per the index to the extent possible. The fund follows a passive investment strategy, except to the extent of meeting liquidity and expense requirements.
Speaking about he launch Mr. B. Gopkumar Axis AMC’s MD & CEO, said Axis S&P BSE Sensex Index Fund, aims to provide diversified investment solutions and long-term wealth opportunities for investors, while also offering a cost-effective way to participate in the market’s growth narrative.
