Axis Mutual Fund has recently unveiled a new index fund known as the ‘Axis CRISIL-IBX AAA Bond Financial Services – Sep 2027 Index Fund’. This open-ended fund is designed to invest in constituents of the CRISIL-IBX AAA Financial Services Index – Sep 2027, offering a balance of moderate interest rate risk and relatively low credit risk. The NFO for this fund is scheduled to be open for subscription from November 8 to November 21, 2024.
Key Details
Benchmark: CRISIL-IBX AAA Financial Services Index – Sep 2027
Expected Scheme Maturity Date: 30th Sep, 2027
Minimum Investment: Rs 5,000 and in multiples of ₹1/- thereafter
Fund Manager: Aditya Pagaria
Investing in the AXIS CRISIL-IBX AAA Financial Services – Sep 2027 Index Fund offers numerous benefits. This index fund, provided by Axis MF, caters to investors seeking a cost-effective passive investment or fixed income product.
The fund primarily invests in AAA-rated assets that boast high quality and sufficient liquidity. Additionally, the selection of securities is conducted with minimal bias as the fund replicates the CRISIL-IBX AAA Financial Services Index – Sep 2027.
India Manufacturing Fund
Canara HSBC Life Insurance launched the India Manufacturing Fund as part of its Unit Linked Insurance Plan (ULIP) offerings on Thursday, November 7. Investors have the opportunity to subscribe to this New Fund Offer (NFO) at an initial NAV of Rs 10 until November 21, 2024.
The fund’s objective is to achieve long-term capital appreciation by capitalizing on the growth potential of India’s manufacturing sector through a diversified equity portfolio.
By concentrating on equity and equity-related investments within the manufacturing industry, the India Manufacturing Fund aims to generate wealth-building prospects for investors. Key sectors include Automobiles, Capital Goods, Defence, Healthcare, and Metals.
The fund is aligned with the Nifty India Manufacturing Index, which spans across various sectors of Indian manufacturing and is calculated based on free-float market capitalisation.
In order to mitigate risk, no single stock within the fund exceeds a maximum weight of 5%.
In conjunction with potential wealth accumulation, the fund also offers life insurance benefits.
The fund’s investment strategy allocates 60-100% of assets in equities and equity-linked instruments, with the remaining 0-40% in money market instruments, excluding debt securities.
Canara HSBC Life’s Wealth Edge Plan aims to assist customers in achieving their life goals while providing the security of life insurance protection against uncertainties, the company announced.
Jyoti Vaswani, Chief Investment Officer at Canara HSBC Life Insurance, said: “The India Manufacturing Fund aligns with India’s growth in manufacturing and industry, which drive economic progress. It offers investors exposure to promising companies in this sector.”