NIFTY Midcap 50 | Index fund: Axis Mutual Fund launches the NIFTY Midcap 50 index fund

Axis Mutual Fund has announced the launch of the Axis NIFTY Midcap 50 index fund. The program will be managed by Jinesh Gopani, Head – Equity. The fund will track the NIFTY Midcap 50 Index TRI.

The new fund offering or NFO will open for subscription on March 10 and will close for subscription on March 21. The minimum claim amount is Rs 5,000 and in multiples of INR 1, thereafter.

According to the press release, Axis NIFTY Midcap 50 Index Fund will follow a rules-based passive investment strategy. The fund house says this low-cost investment solution is ideal for investors looking for exposure to mid-caps, while following a disciplined and systematic investment format. Investors can seek to invest through various systematic options like SIPs, STPs to take a more discipleship approach or invest via a lump sum.

Axis NIFTY Midcap 50 Index Fund will invest in the 50 most liquid midcap stocks, with a preference for stocks whose F&O contracts are traded on NSE.

“In the broader market, Midcaps have consistently outperformed, making them ideal for long-term wealth creation. Besides an attractive entry point for long-term investors, they also offer a favorable risk-reward quotient. The introduction of the Axis NIFTY Midcap 50 Index Fund is in line with our conviction to offer investors quality products suited to their risk appetite. We believe this will be a notable addition to our portfolio of passive offerings,” says Chandresh Nigam, Managing Director and CEO of Axis AMC.

Dolores W. Simon