If you are thinking of investing then you have a good chance. Axis Mutual Fund has launched the Axis Technology ETF. It is an open-ended exchange-traded fund that will track the NIFTY IT Index. NFO has been opened for investment since March 18, 2021 and will close on March 23, 2021. According to the product document, the fund is suitable for investors who want to create wealth in the long term and who are able to take more risk.
Axis Technology ETF, being an ETF, the units will be traded on the stock exchange during trading. In addition, it is a passive fund and it will repeat the index it tracks.
Passive funds are cheap
At the global level, passive funds have been the fastest-growing investment segment in the last several years because of its low cost. Passive funds are a means of investing in the stock market that tracks an index or a particular segment.
Passive funds are also gaining popularity in India in the last few years mainly due to the widespread participation of retirement trusts and greater investor awareness and maturity. Passive funds are essentially designed to track the performance of an index. After tracking the index, they are invested in fixed ratios.
How much can we invest in a minimum?
At least Rs 5,000 can be invested in Axis Technology ETF. This is its benchmark Nifty IT TRI Index.
The fund is designed to track the performance of the NSE IT index. The index consists of the 10 largest IT companies in the country, listed on the NSE, Free-float Market Capitalization. Lockdown and ban on corporates movements across the country have given a boost to the digital economy.
read this also- LIC Micro Bachat: Guaranteed Return of 2 Lakhs at a premium of only Rs. 10320 in this scheme
read this also- Do this work in 10 days, otherwise, your PAN card will be useless, there may be a loss of 10 thousand
