Contents
Key details of the Axis Nifty EV & New Age Automotive Index Fund NFO
| Fund house | Axis Mutual Fund |
|---|---|
| Category (AMFI) | Index Funds - Equity Funds |
| Scheme type | Open Ended |
| NFO opens | 16 October 2026 |
| NFO closes | 30 October 2026 |
| Offer price | ₹10 a unit |
| Minimum investment | ₹100 |
| Exit load | 0.25% if redeemed or switched out within 15 days of allotment; Nil after 15 days |
| Benchmark | Nifty EV & New Age Automotive TRI |
| Fund managers | Nandik Mallik and Rohit Gautam |
| Maximum expense ratio | Up to 0.90% a year, before taxes and levies |
| Scheme information document | Read on AMFI (PDF) |
What Axis Nifty EV & New Age Automotive Index Fund will invest in
The scheme information document states the objective as: “To provide returns before expenses that correspond to the performance of Nifty EV & New Age Automotive TRI subject to tracking error.”
How it compares with existing Nifty EV & New Age Automotive index funds and ETFs
- 2 ETFs already track the Nifty EV & New Age Automotive, according to AMFI's NAV list.
- Over the past one year to 15 October 2026, the 2 with that long a record returned between −2.8% and −2.7%.
- Funds on the same index hold the same shares, so the gaps between them come mainly from expense ratios and tracking error.
| Period | Funds | Lowest | Median | Highest |
|---|---|---|---|---|
| 1 year | 2 | −2.8% | −2.7% | −2.7% |
Index funds use Direct-Growth plans; ETFs count once each. Returns are from AMFI daily NAVs, annualised for three years, and leave out figures distorted by unit splits.
Other funds’ returns do not tell you how this fund will do. They show what the category or index has delivered and how far results have varied between funds.
What to check before investing in this NFO
- The ₹10 price is not a discount. Units start at ₹10 only to set the unit count. Returns depend on how the fund's investments move, in percentage terms, exactly as for an existing fund.
- Cost and tracking error decide the difference. Every fund on the same index holds the same shares, so the fund with the lower expense ratio and the smaller tracking error usually delivers more. A new fund's tracking error is unknown until it has run for a while; existing Nifty EV & New Age Automotive index funds and ETFs already have a record.
- Overlap with what you already own. If you already hold a fund on the same or a broader index, a new one may add little: the underlying shares can be largely the same.
- Direct plan and costs. The direct plan pays no distributor commission, so its expense ratio is lower than the regular plan’s. Over many years the difference compounds.
- Exit load. 0.25% if redeemed or switched out within 15 days of allotment; Nil after 15 days.
After the NFO closes
Units are allotted after the offer closes. The fund then publishes a daily NAV and reopens for regular purchases, SIPs and redemptions.
Once a fund has a record, Genvest Research shows its returns against its benchmark, volatility and drawdowns.
Questions people ask
The NFO closes on 30 October 2026. Fund houses can extend or close an NFO early, so check the fund house's notices close to the date.
The minimum is ₹100 during the NFO, according to AMFI's listing. Units are offered at ₹10 each.
No. The ₹10 starting price only sets the unit count. What you earn depends on the percentage change in the fund's investments, which is the same whether a unit costs ₹10 or ₹500.
0.25% if redeemed or switched out within 15 days of allotment; Nil after 15 days.
The scheme information document names Nifty EV & New Age Automotive TRI as the benchmark.
The scheme information document names Nandik Mallik and Rohit Gautam as the fund managers.
That depends on what you already own and why you would add this fund. A new fund has no record of its own, so compare it with existing Nifty EV & New Age Automotive index funds and ETFs: their costs, their returns over several years and how much they overlap with funds you hold. This page explains the facts; it is not a recommendation.
Other NFOs open now
| Fund | Type | Closes | Minimum | Existing funds |
|---|---|---|---|---|
| HDFC Nifty LargeMidcap250 Plus 8-13 yr G-sec 70:30 Index FundHDFC | Index fund · Nifty LargeMidcap250 Plus 8-13 yr G-sec 70:30 | 19 OctCloses in 3 days | ₹100 | 2 on the same index |
| ICICI Prudential Nifty Pharma ETFICICI Prudential | ETF · Nifty Pharma | 19 OctCloses in 3 days | ₹1,000 | 2 on the same index |
| JioBlackRock Income Plus Arbitrage Omni FOFJio BlackRock | Fund of funds | 19 OctCloses in 3 days | ₹500 | – |
| Kotak Nifty 500 Index FundKotak Mahindra | Index fund · Nifty 500 | 19 OctCloses in 3 days | ₹1,000 | 7 on the same index |
| SBI BSE India Defence ETFSBI | ETF · BSE India Defence | 19 OctCloses in 3 days | ₹5,000 | 1 on the same index |
| Motilal Oswal Nifty Midcap150 Plus 8-13 yr G-Sec 70:30 Index FundMotilal Oswal | Index fund · Nifty Midcap150 Plus 8-13 yr G-Sec 70:30 | 26 OctCloses in 10 days | ₹500 | First on this index |
| quant Nifty 100 Index Fundquant | Index fund · Nifty 100 | 26 OctCloses in 10 days | ₹5,000 | 8 on the same index |
| quant Nifty 50 Index Fundquant | Index fund · Nifty 50 | 26 OctCloses in 10 days | ₹5,000 | 45 on the same index |
Sources
- AMFI new fund offer list.
- Axis Nifty EV & New Age Automotive Index Fund scheme information document.
- AMFI daily NAVs to 15 Oct, for existing funds.
This page is educational research based on AMFI data and scheme information documents. It is not a recommendation to invest in any scheme, or personalised investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past performance of other funds does not indicate how a new fund will perform. Registration granted by SEBI, enlistment with IAASB and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.