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Axis MF has launched Axis Nifty500 Momentum 50 Index Fund, an open-ended index fund that will replicate the performance of the Nifty500 Momentum 50 TRI.
The underlying index measures momentum score based on stocks last 6 month and 12 months returns of stocks adjusted for volatility.
In a press release, B Gopkumar, MD & CEO, of Axis MF said, “With passive strategies continuing to gain popularity, we believe that this fund will offer a unique opportunity to invest in India’s most promising momentum-driven stocks, all while keeping costs low and ensuring broad diversification. It is an ideal product for investors looking to benefit from market trends without having to make stock-picking decisions.”
Ashish Gupta, CIO, Axis MF said, “The Nifty500 Momentum 50 Index has shown resilience in India's dynamic market environment, often outpacing broader market indices by identifying stocks that are poised for growth. This momentum-driven approach aims to capitalize on stocks with a strong upward trajectory in recent history. Given this context, the fund is a simplified passive strategy designed to offer investors a simple yet effective way to participate in the growth story of a broad spectrum of Indian companies. We believe that the fund's broad-based approach, coupled with the potential for sustainable long-term returns, will serve as a robust vehicle for wealth creation over the long term, making it an attractive option for both new and experienced investors."
The minimum investment amount is Rs. 100.