Axis Mutual Fund launches Axis NASDAQ 100 Fund of Fund

Axis Mutual Fund has launched Axis NASDAQ 100 Fund of Fund, an open ended fund of fund scheme investing in units of ETFs focused on the Nasdaq 100 TRI.

Overseas ETFs which track NASDAQ 100 Index are Xtrackers Nasdaq 100 UCITS ETF, iShares NASDAQ 100 UCITS ETF and Invesco EQQQ NASDAQ-100 UCITS ETF.

The NASDAQ 100 Index includes 100 of the largest non-financial companies on NASDAQ stock market, based on market capitalization. The current NASDAQ 100 Index is a tech-heavy index and has exposure to new economy sectors such as healthcare, technology and consumer.

In a press release, 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. We are confident that the fund’s philosophy and underlying structure will make it a valuable addition for investors.”