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Axis Mutual Fund has launched Axis S&P 500 ETF Fund of Fund, an open ended fund of fund investing in ETFs replicating S&P 500 TRI.
The underlying index tracks the performance of 500 large companies listed on the US stock exchange.
In a press release, Chandresh Nigam, MD & CEO, Axis AMC said, “In India, Fund of Funds can be considered as an interesting entry point for investors with a longer investment horizon and who wish to diversify their portfolio from a global standpoint. With the launch of the FoF, we are seamlessly enabling global exposure through passive strategies. The new scheme’s approach aligns with our philosophy of ‘Responsible Investing’ and we believe, will be a notable addition to our portfolio of products.”
The NFO is open for subscription from March 22 to April 05
