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Axis Mutual Fund has launched 'Axis Nifty Bank Index Fund', an open-ended index fund tracking the Nifty Bank TRI.
In a press release B Gopkumar, MD and CEO, Axis AMC, said, "India's economic rise is a compelling narrative driven by several factors. If addressed effectively, our growth story has the potential to propel the nation toward becoming a major global economic power. Against this backdrop, India's banking sector continues to exhibit growth and resilience. Fuelled by robust regulatory frameworks and the rapid adoption of digital banking, the sector is well-positioned for sustained expansion.”
"This fund is an interesting opportunity for investors to gain exposure to the banking sector, which is expected to play a pivotal role in India's economic expansion," said Ashish Gupta, CIO, Axis AMC.
"With increasing financial inclusion and a shift towards more sophisticated banking services, the sector can offer the potential for significant returns," he added.
Karthik Kumar and Ashish Naik will manage this index fund.
