Axis Mutual Fund has announced the launch of Axis Nifty Midcap 50 Index Fund, an open-ended index fund tracking the Nifty Midcap 50 Index. The new fund offer (NFO) opened for subscription on Thursday and will close on 21 March.
- Alteria Capital Successfully Closes the Fund III Venture Debt Scheme at Rs 19.5 Crore
- Finance Ministry to Borrow Rs 7.5 lakh Crore in H1FY25, Plans to Raise Sovereign Green Bonds
- Reliance Power to Settle Debt Worth Rs 1,023 Crore With Authum Investment’s Arm
- BHEL Shares Rally 4% on Bagging Rs 4,000 Crore Order
- Gartner Survey Shows AI-Related Risks see Greatest Audit Coverage Increases in 2024
The rank of any F&O constituent in the Nifty Midcap 150 Index based on entire market capitalisation is among the top Nifty Midcap 30. In case of any shortfall (if F&O stocks are not available for inclusion in the index), securities with the highest average daily turnover will be selected from the top 30 non-F&O constituents in the Nifty Midcap 150 Index based on entire market capitalisation.
The Axis Nifty Midcap 50 Index Fund follows a rule-based passive investing strategy to deliver market-linked returns.