Details as of: 1 November 2026
- Opened 16 Oct 2026 and closed 30 Oct 2026
- Offer price: ₹10 per unit
- Minimum investment: ₹100
- Exit load: 0.25% on or before 15D, NIL after 15D
- Benchmark: Nifty EV and New Age Automotive – TRI
- At least 95% must be in Securities covered under Nifty EV & New Age Automotive Index
The Axis Nifty EV & New Age Automotive Index Fund NFO closed on 30 October 2026. This Index Funds – Other category scheme opened for subscription on 16 October 2026. Investors purchased units at an offer price of ₹10. The minimum investment required to participate in the fund was ₹100.
Axis Nifty EV & New Age Automotive Index Fund NFO: key details
| Fund house | Axis Mutual Fund |
| Category | Index Funds – Other |
| Opens | 16 October 2026 |
| Closes | 30 October 2026 |
| Offer price | ₹10 per unit |
| Minimum investment | ₹100, then ₹100 in multiples of ₹1 |
| SIP | Daily from ₹100 (6 instalments); Monthly from ₹100 (6 instalments); Weekly from ₹100 (6 instalments); Yearly from ₹12,000 (3 instalments) |
| Exit load | 0.25% on or before 15D, NIL after 15D |
| Benchmark | Nifty EV and New Age Automotive – TRI |
| Fund managers | Nandik Mallik, Rohit Gautam |
| Plans | Regular and Direct plans, with Growth option |
What the scheme says it will invest in
The scheme states its objective as follows.
To provide returns before expenses that correspond to the performance of Nifty EV & New Age Automotive TRI subject to tracking error. There is no assurance that the investment objective of the scheme will be achieved.
| Where the money goes | Minimum | Maximum |
|---|---|---|
| Securities covered under Nifty EV & New Age Automotive Index | 95% | 100% |
| Money Market Instruments & units of debt & liquid MF schemes | 0% | 5% |
The scheme allocates at least 95% of its assets to securities covered under the Nifty EV & New Age Automotive Index. It may also invest up to 5% in money market instruments and units of debt and liquid mutual fund schemes. The fund maintains a maximum of 5% in money market instruments.
How it compares with existing funds
| Measure | Value |
|---|---|
| Funds in the category | 227 |
| Average 1-year return (184 funds) | −5.07% |
| Average 3-year return, a year (66 funds) | 12.02% |
| Highest 1-year return: ICICI Pru NASDAQ 100 Index Fund | 21.44% |
| Average expense ratio of Direct plans (214 funds) | 0.54% (range 0.16%–2.41%) |
| Fund | NFO period | Assets (₹ crore) | NAV now (Direct Growth) | Change on offer price |
|---|---|---|---|---|
| Quant Nifty Midcap 150 Index Fund | 12 October 2026 – 26 October 2026 | – | ₹9.96 (30 October 2026) | −0.44% |
| Quant Nifty 100 Index Fund | 12 October 2026 – 26 October 2026 | – | ₹10.12 (30 October 2026) | 1.21% |
| Kotak Nifty 500 Index Fund | 5 October 2026 – 19 October 2026 | – | ₹10.15 (29 October 2026) | 1.50% |
| Aditya Birla Sun Life BSE Total Market Index Fund | 30 September 2026 – 14 October 2026 | – | ₹10.08 (30 October 2026) | 0.80% |
| Motilal Oswal Nifty REITs & Realty Index Fund | 25 September 2026 – 9 October 2026 | – | ₹9.77 (30 October 2026) | −2.34% |
| Invesco India Nifty Chemical Index Fund | 15 September 2026 – 29 September 2026 | – | ₹9.37 (30 October 2026) | −6.29% |
| Invesco India Nifty India Defence Index Fund | 15 September 2026 – 29 September 2026 | – | ₹9.36 (30 October 2026) | −6.37% |
| HDFC BSE REITS and Commercial Real Estate Index Fund | 15 September 2026 – 17 September 2026 | 32 | ₹9.45 (30 October 2026) | −5.54% |
Existing funds in this category report an average 1-year return of −5.07% across 184 funds. The average expense ratio for 214 funds is 0.54%. Among earlier NFOs, the Kotak Nifty 500 Index Fund reports a NAV of ₹10.15, while the Invesco India Nifty India Defence Index Fund reports a NAV of ₹9.36.
Fund managers
| Name | Role | Experience |
|---|---|---|
| Nandik Mallik | Fund Manager | 6 Years |
| Rohit Gautam | Fund Manager | 13 Years |
Axis Nifty EV & New Age Automotive Index Fund NFO: FAQs
When does the Axis Nifty EV & New Age Automotive Index Fund NFO open and close?
The NFO opens on 16 Oct 2026 and closes on 30 Oct 2026.
What is the minimum investment in the Axis Nifty EV & New Age Automotive Index Fund NFO?
The minimum investment is ₹100. Further amounts are ₹100 in multiples of ₹1. SIPs: Daily from ₹100 (6 instalments); Monthly from ₹100 (6 instalments); Weekly from ₹100 (6 instalments); Yearly from ₹12,000 (3 instalments).
What is the exit load of the Axis Nifty EV & New Age Automotive Index Fund?
The scheme states its exit load as: 0.25% on or before 15D, NIL after 15D
Who manages the Axis Nifty EV & New Age Automotive Index Fund?
The fund is managed by Nandik Mallik, Rohit Gautam.
Which plans does the Axis Nifty EV & New Age Automotive Index Fund have?
Regular and Direct plans, with Growth option.
What does the NFO offer price mean?
The offer price is the price per unit at which units are allotted during the NFO, here ₹10. It is not a measure of value, and the fund has no track record to judge until it has run for some time.
What is the benchmark of the Axis Nifty EV & New Age Automotive Index Fund?
The scheme’s benchmark is the Nifty EV and New Age Automotive – TRI.
Scheme terms from the offer documents; fund data: Accord Fintech. Calculations: ThePip. For information only; not investment advice.