Description
Axis NASDAQ 100 Fund of Fund renamed to Axis US Specific Equity Passive FOF with immediate effect on NSE MF Invest Platform.
Summary
NSE has informed members about the change in scheme name of Axis Mutual Fund’s fund of fund scheme from “Axis NASDAQ 100 Fund of Fund” to “Axis US Specific Equity Passive FOF” effective immediately on the NSE MF Invest platform. This change aligns with SEBI’s framework for Fund of Fund schemes with multiple underlying funds.
Key Points
- Scheme name changed from “Axis NASDAQ 100 Fund of Fund” to “Axis US Specific Equity Passive FOF”
- Change effective immediately on NSE MF Invest platform
- Alignment with SEBI framework for FOF schemes dated February 06, 2025
- Category changed from “Equity oriented FOF (Overseas) - Country specific” to “Equity FOF - Passive option”
- All other terms and conditions remain unchanged
Regulatory Changes
The scheme has been realigned with SEBI’s Framework for launching Fund of Fund (FOF) schemes with multiple underlying funds. The categorization has been updated from equity-oriented overseas FOF to passive equity FOF to comply with the new framework.
Compliance Requirements
- NSE members are informed of the name change for operational purposes
- Investors should note the scheme name change for future transactions
- Updated Scheme Information Document (SID) and Key Information Memorandum (KIM) reflect the changes
Important Dates
- Effective Date: August 31, 2025 (scheme alignment)
- Notification Date: September 04, 2025 (NSE circular)
- Immediate Effect: Name change on NSE MF Invest platform
Impact Assessment
Minimal operational impact as this is purely an administrative name change. The underlying investment strategy and fund operations remain unchanged. Members and investors need to use the new scheme name for future transactions and references on the NSE MF Invest platform.
Impact Justification
Administrative change in mutual fund scheme name with no trading or compliance impact