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The NASDAQ 100 Index includes 100 of the largest non-financial companies on NASDAQ stock market, based on market capitalization. Here are key things to know about the NFO
Axis Mutual Fund (MF) 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. This new fund offer (NFO) has opened for subscription today and will be available till October 21, 2022.
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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, subject to tracking errors, the fund house said.
"The minimum application amount is Rs 500 per application and in multiples of Re 1/- thereafter. With Hitesh Das (Fund Manager – Overseas Investments) helming the Axis NASDAQ 100 Fund of Fund, the fund would be benchmarked against the NASDAQ 100 TRI (INR)," it said.
Salient features of the Axis NASDAQ 100 Fund of Fund:
The NASDAQ 100 Index
(Source: NASDAQ and Bloomberg as on Sept 27, 2022. The Sector(s)/ Stock(s)/ Issuer(s) mentioned above are for illustration purpose only. These stock may or may not remain a part of the portfolio of Nasdaq 100 Index. Past performance may or may not be sustained in the future.)
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 pre-dominantly 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, in NASDAQ-100 may also work as hedge against rupee depreciation.
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."
(Edited by : Anshul)
First Published: Oct 7, 2022 5:45 PM IST