Axis Mutual Fund Launches Axis Nifty Capital Markets Index Fund
Mumbai, 06th May 2026: Axis Mutual Fund, one of India’s leading asset management companies, has announced the launch of its new fund offering – Axis Nifty Capital Markets Index Fund, an open-ended index fund designed to track the Nifty Capital Markets Total Return Index (TRI), offering investors targeted exposure to India’s rapidly evolving capital markets ecosystem. The New Fund Offer (NFO) will open on May 4, 2026, and close on May 15, 2026. The fund aims to provide returns, before expenses, that closely correspond to the performance of the Nifty Capital Markets TRI, subject to tracking error.
Riding India’s capital market growth story
India’s capital markets have undergone a structural transformation over the past decade, driven by rising financialisation of savings, strong domestic participation, and rapid digitisation. As India moves toward becoming one of the world’s largest economies over the next decade, growing household incomes and formalisation are expanding the pool of financial savings. Rising retail participation, a sharp increase in demat accounts, and deeper mutual fund adoption have strengthened the depth and resilience of the market, while digital platforms have significantly lowered barriers to participation across geographies.
This momentum is evident in the mutual fund industry, with average assets under management at around ₹79 lakh crore as of March 2026, supported by record‑high systematic investment flows. Yet, mutual fund penetration remains modest, with India’s AUM‑to‑GDP ratio at under 20%, well below global averages, underscoring significant headroom for growth. Against this backdrop, the Nifty Capital Markets Index captures businesses central to the financial‑market ecosystem—such as exchanges, asset managers, brokerages, and depositories—offering investors a transparent way to participate in the long‑term expansion of India’s capital markets.
Axis Nifty Capital Markets Index Fund
The Axis Nifty Capital Markets Index Fund, by replicating the underlying index, aims to provide exposure to a diversified basket of companies that are integral to the functioning of capital markets. The underlying index comprises companies from the Nifty 500 universe classified under capital market-related industries, including asset management companies, exchanges and data platforms, stockbroking firms, and depository services. The index follows a free-float market capitalisation-based weighting methodology with stock caps and is rebalanced semi-annually.
Commenting on the launch, B. Gopkumar, MD & CEO, Axis AMC, said, “India’s capital markets are moving into a structurally deeper and more participative phase, supported by strong domestic flows, increasing retail engagement, and continued formalisation of savings. At Axis Mutual Fund, we see this as a long-term opportunity not just at the market level, but across the broader ecosystem that enables this growth.” He further added, “With the Axis Nifty Capital Markets Index Fund, we are extending our passive investment suite to offer investors a targeted way to participate in this evolution. The fund is designed as a simple and transparent building block for portfolios, allowing investors to align with the long-term growth of India’s financial ecosystem.”
The fund is positioned as a long‑term allocation for investors seeking participation in India’s evolving financial ecosystem through a low‑cost, transparent, and rules‑based investment structure. By offering diversified exposure to institutions that underpin capital‑market development, the Axis Nifty Capital Markets Index Fund provides investors with a straightforward way to align their portfolios with the structural expansion of India’s financial markets.
The fund will be managed by Nandik Mallik and Rohit Gautam.