Axis Nifty Midcap 50 Index Fund has been launched by Axis Mutual Fund, one of India’s major asset management businesses (an open-ended Index Fund tracking the NIFTY Midcap 50 Index). The fund will track the NIFTY Midcap 50 Index TRI and will be managed by Jinesh Gopani, Head – Equity.
The NFO will open for subscription on March 10th, 2022, and end on March 21st, 2022. The minimum application amount is Rs 5,000, with subsequent amounts in multiples of Rs 1.
India is in the midst of a secular development phase, with numerous rising enterprises demonstrating growth potential. These companies, in addition to having a proven track record, are also flexible, making it critical for the investor to pick the correct midcap.
The NIFTY Midcap 50 Index consists of the top 50 businesses from the NIFTY Midcap 150 index based on entire market capitalization, with a bias for stocks with derivative contracts accessible on the National Stock Exchange (NSE). On a semi-annual basis (March and September), the index is rebalanced using average data from the previous six months.
The Axis NIFTY Midcap 50 Index Fund invests in the 50 most liquid midcap companies on the NSE, with a preference for stocks with F&O contracts traded. It offers investors a diverse portfolio with an emphasis on long-term sustainability when selecting stocks. Any F&O constituent in the NIFTY Midcap 150 Index that is among the top NIFTY Midcap 30 based on complete market capitalization is among the top NIFTY Midcap 30.
In the event of a shortfall (if F&O stocks are not available for inclusion in the index), securities having the greatest average daily turnover from the top 30 non-F&O constituents in the NIFTY Midcap 150 Index will be chosen based on full market capitalization.
The Axis NIFTY Midcap 50 Index Fund uses a rule-based passive investment strategy to seek market-linked returns. This simple and low-cost investment option is suitable for investors who want to gain exposure to midcaps while maintaining a disciplined and methodical approach to investing. Investors can choose from a variety of systematic choices, including SIPs and STPs, to take a more disciplined approach to invest, or they can invest in a lump sum.
Follow and connect with us on Facebook, LinkedIn&Twitter
