NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund
SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671
₹10.22
0.18%
NAV as on 16 Nov 24, 12:00 AM
very high risk
index funds
equity
NAV as on 16 Nov 24, 12:00 AM
very high risk
index funds
equity
0.00%p.a.
Last 1Y
0.00%p.a.
Last 3Y
0.00%p.a.
Last 5Y
5.95%p.a.
Since Inception
About Axis Nifty Bank Index Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the Axis Nifty Bank Index Fund Growth scheme from Axis Asset Management Company Limited. It is a Index Funds mutual fund scheme that predominantly invests in Index Funds stocks of companies. Launched on May 2024, Axis Nifty Bank Index Fund Growth is Index Funds fund of its category with 123.26 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Index Funds funds.
- Axis Nifty Bank Index Fund Growth delivered 0.0% annual returns during the last year. It has delivered 6.0% average annual returns since the fund was launched.
- Axis Nifty Bank Index Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in equity
Fund Objective
To provide returns before expenses that corresponds to the total returns of the Nifty Bank TRI subject to tracking errors. However, there is no assurance that the investment objective of the Scheme will be achieved.
Top 10 Holdings
HDFC Bank Ltd
28.09%
ICICI Bank Ltd
23.80%
State Bank of India
9.53%
Kotak Mahindra Bank Ltd
9.37%
Axis Bank Ltd
9.32%
IndusInd Bank Ltd
5.65%
The Federal Bank Ltd
2.85%
Bank of Baroda
2.74%
AU Small Finance Bank Ltd
2.47%
Canara Bank
2.20%
Fund Managers
- Ashish Naik (May 2024 - Present)
- Karthik Kumar (May 2024 - Present)
Key Information
View Scheme Document
Axis Nifty Bank Index Fund Growth SIP Calculator
If invested
per month
For a period of
Investment of ₹0 could have been
₹0(+0.0%)
₹0 (+0.0%)
This Fund
₹0 (+0.0%)
Fixed Deposit
NRI Mutual Fund Tax on Axis Nifty Bank Index Fund Growth
Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.
| Fund Type | Short-term Capital Gains (STCG) Tax | Long-term Capital Gains (LTCG) Tax |
|---|---|---|
| Equity mutual funds | 15% | 10% (above Rs. 1 lakh LTCG) without indexation* |
| Debt & other types of funds | At tax slab rate | 20% with indexation benefits |
How can NRIs invest in Axis Nifty Bank Index Fund Growth?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
- Passport – front and back
- Passport size photograph
- signature
If all details are correct, your KYC will be approved within 7 to 8 business days.
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in Axis Nifty Bank Index Fund Growth
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the latest 3 months
- Nominee details
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9.9%
Frequently Asked Questions
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