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. The new fund offer (NFO) opened for subscription on Thursday and will close on 21 March.

• L&T Shares Trade With Nominal Losses Despite Securing Orders 
• Daily vs Weekly SIP: Which Can Supercharge Your Portfolio to the Million-Mark?
• Rail Vikas Nigam Shares Take a Hit Despite Rs 165 Crore Order 
• Lupin Shares Gain 1% as Unit Receives EIR Status from USFDA
• Glenmark Unit Signs Exclusive NSCLC Drug Pact with Hansoh Pharma; Shares Drop 1%

The rank of any F&O constituent in the Nifty Midcap 150 Index based on entire market capitalisation is among the top Nifty Midcap 30. In case of any shortfall (if F&O stocks are not available for inclusion in the index), securities with the highest average daily turnover will be selected from the top 30 non-F&O constituents in the Nifty Midcap 150 Index based on entire market capitalisation.
The Axis Nifty Midcap 50 Index Fund follows a rule-based passive investing strategy to deliver market-linked returns.