Mumbai: Axis Mutual Fund
has filed offer documents with SEBI to launch two an open ended listed Index
schemes, Axis Banking ETF and Axis Energy ETF.
The investment objective for both schemes is to provide returns that, before expenses,
closely track the total returns of the benchmark by investing in a portfolio of
equity shares in the same proportion as the benchmark index.
Axis Banking ETF would allocate 95-100 per
cent of assets in equity & equity related instruments covered by CNX Bank
Index. It would further allocate upto 5 per cent of assets in money market
instruments with low risk profile. Axis Energy ETF would allocate 95-100 per
cent of assets in equity & equity related instruments covered by CNX Energy
Index. It would further allocate upto 5 per cent of assets in money market
instruments with low risk profile.
The fund will be benchmarked against CNX Bank Index and CNX Energy Index respectively. Axis
Banking ETF will be managed by Sudhanshu Asthana, Assistant Fund Manager –
Equity and Axis Energy ETF will manage by Jinesh Gopani, Assistant Fund Manager
– Equity.
