Axis MF launches Nifty Capital Markets Index Fund

Axis Mutual Fund has launched the Axis Nifty Capital Markets Index Fund, an open-ended index fund that will track the Nifty Capital Markets Total Return Index (TRI), providing investors exposure to companies operating in India’s capital markets ecosystem.

The New Fund Offer (NFO) opened on May 4 and will close on May 15.

The fund will be benchmarked to the Nifty Capital Markets TRI and aims to generate returns that correspond closely to the performance of the underlying index, subject to tracking error.

The scheme will be managed by Nandik Mallik and Rohit Gautam. It allows investments starting at ₹100, with additional investments in multiples of ₹1. An exit load of 0.25% will be applicable if units are redeemed or switched out within 15 days from the date of allotment, after which no exit load will be charged.

The fund will invest in companies that form part of India’s capital markets infrastructure, including stock exchanges, asset management companies, brokerage firms, and depositories. The index follows a free-float market capitalisation-based methodology with stock caps and is rebalanced semi-annually.

Axis Mutual Fund said the launch comes at a time when India’s capital markets are witnessing structural growth driven by rising retail participation, increasing financialisation of savings, and wider digital access to investment platforms.

It noted that while assets under management in the mutual fund industry have expanded significantly, overall penetration relative to GDP remains low compared to global markets.

The fund is positioned as a passive investment option aimed at providing diversified exposure to the capital markets sector through a rules-based index strategy.

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