Axis Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Axis Nifty500 Low Volatility 50 Index Fund'. The New Fund Offer price will be Rs 10 per unit 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 after15 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 500 Low Volatility 50 TRI. The minimum application will be Rs 100 and in multiples of Re 1 thereafter.The investment objective of the scheme is to provide returns before expenses that correspond to the performance of Nifty500 Low Volatility 50 TRI subject to tracking error.