Description

NSE notifies members of the merger of Axis Nifty AAA Bond Plus SDL Apr 2026 50:50 ETF (merging scheme) into Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund (surviving scheme), effective after business hours on April 30, 2026.

Summary

NSE has informed its members about the merger of Axis Nifty AAA Bond Plus SDL Apr 2026 50:50 ETF (Merging Scheme) with Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund (Surviving Scheme) under Axis Mutual Fund. The merger will be effective after business hours on April 30, 2026. Investors who do not wish to continue may redeem or switch without exit load between March 30, 2026 and April 29, 2026.

Key Points

  • Merging Scheme: Axis Nifty AAA Bond Plus SDL Apr 2026 50:50 ETF (Exchange Traded Fund — open-ended Target Maturity ETF tracking Nifty AAA Bond Plus SDL Apr 2026 50:50 Index)
  • Surviving Scheme: Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund (open-ended Target Maturity Index Fund tracking CRISIL IBX 50:50 Gilt Plus SDL Index – June 2028)
  • No new scheme will emerge from the merger; the merging scheme ceases to exist post-merger
  • Post-merger investments will follow the investment objective and asset allocation of the Surviving Scheme
  • Existing SIP/XSIP/SWP in the merging scheme will continue to be processed during the exit load-free window (March 30 – April 29, 2026)
  • All SIP/XSIP/STP/SWP registered in the merging scheme will be automatically shifted to the surviving scheme after business hours on April 30, 2026
  • NSE circular reference: NSE/NMFTM/73585 | Circular Ref. No: 1307/2026

Regulatory Changes

Axis Mutual Fund Trustee Limited has decided to merge the two schemes as per SEBI mutual fund regulations. The surviving scheme’s investment objective, asset allocation, and features will govern the merged entity. No new scheme is created.

Compliance Requirements

  • NSE members must take note of and communicate this merger to relevant clients invested in the merging scheme via the NSE MF Invest platform
  • Investors wishing to exit must redeem or switch to other eligible Axis Mutual Fund schemes through the NSE MF Invest platform within the exit load-free window
  • Members should ensure no operational disruptions for SIP/XSIP/STP/SWP transitions post-merger

Important Dates

  • March 30, 2026: Start of exit load-free redemption/switch window
  • April 29, 2026: Last day of exit load-free redemption/switch window (both days inclusive)
  • April 30, 2026 (after business hours): Merger effective date; merging scheme ceases to exist; all SIP/XSIP/STP/SWP registrations shift to surviving scheme

Impact Assessment

Investors in Axis Nifty AAA Bond Plus SDL Apr 2026 50:50 ETF on the NSE MF Invest platform are directly impacted and must decide whether to continue (auto-migrated to the surviving scheme) or exit without load before April 29, 2026. The surviving scheme has a longer target maturity (June 2028 vs. April 2026) and tracks a different index (CRISIL IBX 50:50 Gilt Plus SDL vs. Nifty AAA Bond Plus SDL), which changes the interest rate risk profile for continuing investors. Systematic plan registrations will be migrated automatically, requiring no manual action from investors who wish to continue.

Impact Justification

Affects existing investors in Axis Nifty AAA Bond Plus SDL Apr 2026 50:50 ETF who must act by April 29, 2026 if they wish to exit without load; operational impact on SIP/XSIP/STP/SWP registrations which will auto-migrate to surviving scheme.