Home / Money / Personal Finance /  Axis Mutual Fund launches Axis NASDAQ 100 Fund of Fund

Axis Mutual Fund has announced the launch of the Axis NASDAQ 100 Fund of Fund (an open-ended fund of fund scheme investing in units of ETFs focused on the Nasdaq 100 TRI).

The new fund offer opens for subscription on 7 October and closes on 21 October.

The fund would focus on replicating the performance of the NASDAQ 100 TRI by investing ETFs whose primary objective would be to track/replicate the performance of the Nasdaq 100 TRI.

The minimum application amount would be 500 per application and in multiples of 1 thereafter. The fund manager is Hitesh Das and the fund would be benchmarked against the NASDAQ 100 TRI (INR).

According to the press release, the NASDAQ 100 Index includes 100 of the largest non-financial companies on NASDAQ stock market, based on market capitalization. It is home to global growth and innovation. The current NASDAQ 100 Index is a tech-heavy index and has exposure to new economy sectors such as healthcare, technology and consumer. It is predominantly led by some of the most innovative and rapidly expanding non-financial companies across the world that generate the bulk of their revenue from different countries. In addition to giving the benefit of global exposure and potentially reducing concentrated geographical risk for investors, NASDAQ-100 may also work as ha edge against INR depreciation, it added.

Chandresh Nigam, MD & CEO, Axis AMC said, “As investors are maturing and taking an active interest in their wealth creation journey, the paradigms of asset allocation are changing dynamically as well. With global boundaries slowly blurring, investors are eager to gain access to some international growth stories, which was earlier not feasible so seamlessly. With the Axis NASDAQ 100 Fund of Fund, we are presenting investors with the opportunity to gain global exposure. We are confident that the fund’s philosophy and underlying structure will make it a valuable addition for investors."

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