May 1, 2024
mayank
Axis Nifty Bank Index Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
Table of Contents:
- NFO Open date, Close date
- NFO Investment Strategy
- NFO Basic Details
- NFO Benchmark Index
- Past Performance of NFO Benchmark Index
- Performance Review of Fund Manager
- Should You Invest in this NFO?
- Invest Online
What is the Axis Nifty Bank Index Fund Open Date, Close Date?
NFO opens on May 03, 2024
NFO will close on May 17, 2024
What is the Investment Strategy?
The scheme seeks to provide returns before expenses that corresponds to the total returns of the Nifty Bank TRI subject to tracking errors.
Basic Details
| Fund House | Axis Mutual Fund |
| Issue Open | 03 May 2024 |
| Issue Close | 17 May 2024 |
| Type | Open-ended |
| Category | Equity: Sectoral-Banking |
| Min. Investment(Rs) | 500 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0.25% for redemption Within 7 days |
| Riskometer | Very High |
| Benchmark | NIFTY Bank TRI |
What is the Benchmark Index?
The Nifty Bank Index comprises of the most liquid and large Indian Banking stocks. It provides investors and market intermediaries a benchmark that captures the capital market performance of the Indian banks. The Index comprises of maximum 12 companies listed on National Stock Exchange of India (NSE).
Nifty Bank Index is computed using free float market capitalization method.
Nifty Bank Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and
structured products.
Index Variant: Nifty Bank Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | -2.42 | -2.42 | 16.05 | 9.14 | 17.22 |
| Total Return | -2.42 | -2.42 | 17.02 | 9.68 | 18.75 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 12.69 | 26.17 | 28.87 |
| Beta (NIFTY 50) | 1.05 | 1.23 | 1.09 |
| Correlation (NIFTY 50) | 0.82 | 0.90 | 0.84 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 15.84 | 2.77 | 0.78 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| HDFC Bank Ltd. | 29.00 |
| ICICI Bank Ltd. | 23.73 |
| Axis Bank Ltd. | 9.19 |
| State Bank of India | 9.14 |
| Kotak Mahindra Bank Ltd. | 9.11 |
| IndusInd Bank Ltd. | 6.92 |
| Bank of Baroda | 3.31 |
| Punjab National Bank | 2.49 |
| Federal Bank Ltd. | 2.27 |
| IDFC First Bank Ltd. | 2.01 |
Performance Review of the Fund Manager of Axis Nifty Bank Index Fund?
1) Ashish Naik
Education: Mr. Naik is a B.E from Mumbai University and MBA from XLRI, Jamshedpur.
Experience: Prior to joining Axis Mutual Fund he was associated with organizations such as Goldman Sachs and has over 7 years of experience as an Equity Analyst.
Past Performance of his Schemes
| Fund | Axis Nifty Bank ETF | It’s Benchmark | Axis Nifty 100 Index Fund | It’s Benchmark |
| 1 Year | 14.83 | 15.15 | 30.72 | 31.10 |
| 3 Year | 15.17 | 15.21 | 16.67 | 18.54 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 01-5-2024
2) Karthik Kumar
Education: Mr. Kumar has done M.B.A, C.F.A, (USA) & B.E (Mechanical)
Experience: Prior to joining Axis Mutual Fund he has worked with SilverTree Hong Kong and Asiya Investment, Hong Kong
Past Performance of his Schemes
| Fund | Axis Nifty 50 ETF | It’s Benchmark | Axis Nifty 50 Index Fund | It’s Benchmark |
| 1 Year | 26.27 | 31.10 | 25.70 | 31.10 |
| 3 Year | 16.86 | 18.54 | — | — |
| 5 Year | 15.17 | 16.39 | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 01-5-2024
Which Company Owns Axis Nifty Bank Index Fund?
Axis Asset Management Company Ltd.
Address: 23rd Floor, One Lodha Place, S. B. Road, Lower Parel. Mumbai – 400013
Website: http://www.axismf.com
Registrar & Transfer Agent:
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: https://mfs.kfintech.com/mfs/
Is it good to invest in Axis Nifty Bank Index Fund NFO?
Guidance for Axis Nifty Bank Index Fund by Paresh Gordhandas, C.A., Research Analyst.
Will Post Soon
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