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The NASDAQ 100 index includes the 100 largest non-financial companies on the NASDAQ stock market, based on market capitalization. Here are some important things to know about NFO

Axis Mutual Fund (MF) has announced the launch of the Axis Mutual Fund NASDAQ 100 Fund – an open-ended fund of funds investing in ETF units based on the Nasdaq 100 TRI. This new fund offer (NFO) is open for registration today and will be available until 21 October 2022.

The fund would aim to replicate the performance of the NASDAQ 100 TRI by investing in ETFs whose primary objective would be to track/mimic the performance of the Nasdaq 100 TRI, subject to tracking errors, the fund said.

“The minimum application amount is Rs 500 per application and in increments of Re 1/- thereafter. With Hitesh Das (Fund Manager – Overseas Investments) managing the Axis Fund of Funds NASDAQ 100, the fund would be the same benchmark as the NASDAQ 100 TRI ( INR),” it said.

Key Features of Axis NASDAQ 100 Fund:

  • The fund will be investing in some overseas NASDAQ-100 ETFs that track the NASDAQ 100 Index such as Xtrackers Nasdaq 100 UCITS ETF, iShares NASDAQ 100 UCITS ETF, Invesco EQQQ NASDAQ-100 UCITS ETF.
  • These ETFs have historically demonstrated their ability to have low tracking error, benefiting the fund
  • The acquisition of some of the largest non-financial companies
  • An opportunity to add top international expertise
  • Better execution ability
  • NASDAQ 100 Index

    (Source: NASDAQ and Bloomberg as of September 27, 2022. The above Sectors/Stocks/Issuers/Issuers are for illustrative purposes only. These stocks may or may not remain part of the Nasdaq portfolio. 100 Index. Past performance may sustained or unsustainable in the future.)

    The NASDAQ 100 index includes the 100 largest non-financial companies on the NASDAQ stock market, based on market capitalization. It is home to global growth and innovation. The current NASDAQ 100 index is a technology-heavy index and has an understanding of emerging sectors of the economy such as healthcare, technology and consumer. The former is led by some of the world’s most innovative and rapidly expanding non-financial companies that generate the majority of their revenue from various countries.

    In addition to providing the benefit of global exposure and potentially reducing geographic risk to investors, the NASDAQ-100 can also act as a hedge against a fall in the value of the Rs.

    Chandresh Nigam, MD & CEO, Axis AMC said, “As investors grow and take greater interest in their wealth creation journey, the paradigms of asset allocation are changing dramatically. With global boundaries slowly blurring, investors are eager to gain access to some of global growth stories, which were previously not easily possible. With the Axis NASDAQ 100 Fund of Funds, we are bringing investors the opportunity to gain global exposure.”



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