NFO Alert: Axis CRISIL-IBX AAA Bond Index Fund Launched, India Manufacturing Fund; check the details before investing

Axis Mutual Fund has recently introduced a new index fund known as ‘Axis CRISIL-IBX AAA Bond Financial Services – September 2027 Index Fund’. This open-ended fund is designed to invest in the constituents of the CRISIL-IBX AAA Financial Services Index – September 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 21, 2024.

Key details

Benchmark: CRISIL-IBX AAA Financial Services Index – September 2027
Expected maturity date of the scheme: September 30, 2027
Minimum Investment: Rs.5000 and multiples of Rs.1/- thereafter
Fund Manager: Aditya Pagaria

Investments in the index fund AXIS CRISIL-IBX AAA Financial Services – September 2027. offer numerous advantages. This index fund by Axis MF caters to investors looking for a profitable passive investment or fixed income product.

The fund mainly invests in AAA-rated assets that have high quality and sufficient liquidity. In addition, the selection of securities is carried out with minimal bias as the fund tracks the CRISIL-IBX AAA Financial Services Index – September 2027.

Indian Production Fund

On Thursday, November 7, Canara HSBC Life Insurance launched India Manufacturing Fund under its Unit Linked Insurance Plan (ULIP). Investors have an opportunity to subscribe to this new fund offer (NFO) with an initial NAV of Rs 10 crore till November. 21, 2024.

The objective of the fund is to achieve long-term capital appreciation by leveraging the growth potential of India’s manufacturing sector through a diversified equity portfolio.

With a focus on equity and equity-related investments in the manufacturing industry, India Manufacturing Fund aims to create capital appreciation prospects for investors. Key sectors include automobiles, capital goods, defense, healthcare and metals.

The fund is aligned to the Nifty India Manufacturing Index, which covers various Indian manufacturing sectors and is calculated on the basis of free float market capitalization.

To reduce risk, no share in the fund exceeds a maximum weighting of 5%.

Combined with potential wealth accumulation, the fund also offers life insurance benefits.

The investment strategy of the fund involves placing 60-100% of assets in shares and instruments related to shares, and the remaining 0-40% in money market instruments, excluding debt securities.

The Canara HSBC Life Wealth Edge Plan aims to help customers achieve their life goals while providing the security of life insurance, protection against uncertainty, the company announced.

Jyoti Vaswani, Chief Investment Officer, Canara HSBC Life Insurance, said: “The Indian manufacturing stock is in line with the growth of Indian manufacturing and industry, which is driving economic development. It offers investors to familiarize themselves with promising companies in this sector.”