| Axis Mutual Fund | |
| Scheme Name | Axis Banking ETF |
| Objective of Scheme | The investment objective of the Scheme is to provide returns before expenses that closely correspond to the total returns of the NIFTY Bank Index subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. |
| Scheme Type | Open Ended |
| Scheme Category | Other Scheme – Other ETFs |
| New Fund Launch Date | 16-Oct-2020 |
| New Fund Offer Closure Date | 29-Oct-2020 |
| Indicate Load Separately | Entry Load: Nil; Exit Load: Nil |
| Minimum Subscription Amount | Rs.5,000/- and in multiples of Re. 1/- thereof |
| For Further Details Please Visit Website | www.axismf.com |
Source from: www.amfiindia.com
Mutual Funds Based on Asset Class
Equity Traded Fund: An ETF, or exchange traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold.
Mutual Funds Based on Structure
Open-Ended Funds: These are funds in which units are open for purchase or redemption through the year. All purchases/redemption of these fund units are done at prevailing NAVs. Basically these funds will allow investors to keep invest as long as they want. There are no limits on how much can be invested in the fund. They also tend to be actively managed which means that there is a fund manager who picks the places where investments will be made. These funds also charge a fee which can be higher than passively managed funds because of the active management. They are an ideal investment for those who want investment along with liquidity because they are not bound to any specific maturity periods. Which means that investors can withdraw their funds at any time they want thus giving them the liquidity they need.
