Axis MF launches Axis NIFTY Midcap 50 Index Fund

Axis Mutual Fund, has announced the launch of Axis NIFTY Midcap 50 Index Fund (an open ended Index Fund tracking the NIFTY Midcap 50 Index). Managed by Jinesh Gopani, Head – Equity, the fund will track the NIFTY Midcap 50 Index TRI.

The NIFTY Midcap 50 Index consists of top 50 companies based on full market capitalization from NIFTY Midcap 150 index with preference given to those stocks on which derivative contracts are available on National Stock Exchange (NSE). The index is rebalanced on a semi-annual basis (March and September) using average data of the last six months.