Axis Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Axis Nifty Private Bank Index Fund’. The New Fund Offer price will be Rs 10 during the NFO. Entry load will be nil. If redeemed/ switched out within 15 days from the date of allotment exit load will be 0.25%; If redeemed/ switched out after 15 days from the date of allotment exit load will be Nil. The Scheme offers growth option for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.The performance will be benchmarked against Nifty Private Bank TRI. The minimum application amount is Rs 100 and in multiples Rs 1 thereafter.The investment objective of the scheme is to provide returns before expenses that correspond to the performance of Nifty Private Bank TRI.