Axis Mutual Fund, one of the leading asset management companies in India announced the launch of Axis Nifty Next 50 Index Fund (An Open Ended Index Fund tracking the NIFTY NEXT 50 Index), today. The NFO will be open for subscription on January 7, 2022 and close on January 21, 2022. The new fund will be managed by Jinesh Gopani, Head-Equity. The minimum application amount is INR 5,000 and investors can invest in multiples of INR 1, thereafter. The new fund will allow investors to participate in the growth story of companies that come after the top 50.
The Nifty Next 50 index is designed to measure the performance of 50 companies from the constituents of Nifty 100 Index after excluding the constituents of Nifty 50 Index (essentially 51-100), spread across 13 distinct industries. Based on free-float market capitalisation, the Nifty Next 50 index is structured in a manner to leverage the potential of the companies that will form the next generation of market leaders.
