Axis MF has launched Axis Technology ETF that offers investors an opportunity to invest in a basket of the biggest IT companies in India in a neatly packed bite-sized exchange traded fund.
The fund is designed in a manner that it tracks the performance of the NSE IT index – which tracks the 10 largest IT companies by free float market capitalization listed on the NSE.
Apart from being cost effective, ETFs let investors invest at real-time prices as opposed to end of day price by sector funds. It protects their investments from the inflows and outflows of short-term investors.
Chandresh Kumar Nigam, MD & CEO, Axis MF said, “We want to develop, introduce and provide the products that are relevant in the current context. Accordingly, we recognize the need to offer investors a choice of strategies including robust passive products.”
Minimum investment in the fund is Rs.5,000.
