Axis Mutual Fund launches Axis Healthcare ETF

Axis Mutual Fund has announced the launch of Axis Healthcare ETF. The new fund offers (NFO) opens on April 30th and closes on May 10. The scheme will allow investors to invest in the Healthcare sector in a neatly packed bite-sized exchange-traded fund. The fund will be benchmarked against Nifty Healthcare TRI Index. The fund will be managed by Jinesh Gopani, Head -Equity, Axis AMC.

According to the press release, the new fund offer is suitable for investors who are seeking long-term wealth creation through targeted sectoral exposure to the healthcare sector. The Nifty Healthcare Index comprises of 20 largest healthcare-oriented companies by free-float market capitalization and has the ability to take exposure across the entire healthcare value chain including – hospitals, diagnostics players, pharmaceutical manufacturers and R&D players.

“As a responsible fund house, we want to develop, introduce and provide the products that are relevant in the current context as well as in the long term. Accordingly, we recognize the need to offer investors a choice of strategies including robust passive products. Our ETF strategy relies on offering highly innovative yet relatable products to our target investors and we have already seen a number of launches in this space in the last year. The launch of Axis Healthcare ETF continues to take forward our endeavour to build up our passive product suite over time and towards our target of being the preferred manager to investors across the entire spectrum of active and passive products,” said Chandresh Kumar Nigam, MD & CEO, Axis AMC.

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