Axis Mutual Fund, one among the fastest-growing fund houses in India, is pleased to announce the launch of its New Fund Offer - Axis Nifty 500 Index Fund. This open-ended index fund aims to replicate the performance of the Nifty 500 Total Return Index (TRI), offering investors broad exposure to India’s top 500 companies listed on the National Stock Exchange (NSE). The New Fund Offer (NFO) opens on June 26, 2024, and will close on July 09, 2024. The fund will be managed by Mr. Karthik Kumar and Mr. Sachin Relekar.
India is one of the fastest-growing economies globally and could become the third-largest economy by 2027. The Nifty 500 Index aims to capture this growth story through the performance of a broad universe of companies, providing investors with diversified exposure to the Indian equity market. Accordingly, the Axis Nifty 500 Index Fund aims to provide returns before expenses that closely correspond to the total returns of the Nifty 500 Index, subject to tracking errors. Therefore, investors who wish to capitalize on this growth opportunity can consider exposure to this fund.
The Odisha government is considering innovative solutions to alleviate traffic congestion in urban areas. Housing and Urban Development Minister Krushna Chandra Mahapatra on Tuesday announced plans to potentially replace traffic lights with alternative infrastructure.
A review meeting was held in Bhubaneswar to discuss traffic management strategies. Proposed alternatives include constructing overbridges and approach roads. The goal is to reduce commute times and improve traffic flow for residents. Minister Mahapatra emphasized the importance of smooth road communication for the public. The department will conduct further discussions before finalizing any decisions.
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