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* An open-ended index fund offering exposure to companies across the electric mobility and new-age automotive value chain
Key highlights:
Type: An open-ended scheme replicating/tracking the Nifty EV & New Age Automotive Index
Benchmark: Nifty EV & New Age Automotive TRI
New Fund Offer Period: October 16, 2026 to October 30, 2026
Fund Managers: Nandik Malik and Rohit Gautam
Minimum Application Amount: ₹100 and in multiples of ₹1 thereafter
Exit Load: 0.25% if redeemed/switched out within 15 days from the date of allotment; Nil thereafter
Axis Mutual Fund, one of India's leading mutual fund companies, announced the launch of the Axis Nifty EV & New Age Automotive Index Fund, positioned as India's first index fund tracking the Nifty EV & New Age Automotive Index. The open-ended scheme aims to replicate the performance of the Nifty EV & New Age Automotive TRI, subject to tracking error. The fund offers investors a passive investment avenue to gain exposure to companies across the evolving electric mobility and new-age automotive ecosystem. The New Fund Offer (NFO) will open on October 16, 2026 and close on October 30, 2026.
Commenting on the launch, B Gopkumar, MD & CEO, Axis AMC, said, “India's transition towards electric mobility represents a significant shift in the automotive landscape, with implications extending beyond transportation to energy security, domestic manufacturing and technological innovation. Improving EV economics, technological advancements, and supportive policy measures are further driving adoption. We believe these developments are reshaping the automotive industry and creating long-term opportunities across its supporting ecosystem.”
“At Axis Mutual Fund, our focus is on providing investors with access to emerging investment themes through simple, transparent and disciplined solutions. With the Axis Nifty EV & New Age Automotive Index Fund, we aim to offer a rules-based investment avenue that provides exposure to different segments of the automotive value chain. The launch further strengthens our passive investment offerings, enabling investors to participate in the industry's long-term development through a single fund”, he further added.
Understanding the Nifty EV & New Age Automotive Index
EV penetration in India has increased from less than 1% in FY21 to 9.4% in FY26. The Nifty EV & New Age Automotive Index represents companies involved in the development of electric vehicles and new-age automotive technologies. The index selects eligible companies from the Nifty 500 universe after applying prescribed liquidity and eligibility criteria. Its methodology covers six groups spanning vehicle manufacturers, battery makers, component manufacturers, raw material suppliers, advanced automotive technology providers and eligible companies under specified government schemes. As of September 30, 2026, large-cap companies accounted for 44% of the index, while mid-cap and small-cap companies represented 29% and 27%, respectively. The index is reconstituted and rebalanced semi-annually in March and September.
Axis Nifty EV & New Age Automotive Index Fund
The Axis Nifty EV & New Age Automotive Index Fund seeks to provide returns before expenses that correspond to the performance of the Nifty EV & New Age Automotive TRI, subject to tracking error. The scheme aims to invest in the constituents of the underlying index, providing exposure to companies operating across different parts of the electric mobility ecosystem through a single fund. Its passive investment approach is designed to reflect the composition of the benchmark, with portfolio adjustments made in line with changes to the index.
The fund offers investors an avenue to participate in the automotive industry's ongoing evolution, supported by developments in EV technology, battery economics and charging infrastructure. By following a predefined index methodology, the scheme provides exposure to the theme without requiring investors to select individual companies. It is designed for investors seeking long-term wealth creation through thematic equity exposure, while recognising the market risks associated with such investments. There is no assurance that the investment objective of the scheme will be achieved.
Note: The sectors mentioned above are used to explain the concept and is for illustration purpose only and should not be used for development or implementation of any investment strategy. It should not be construed as investment advice to any party. Past performance may or may not be sustained in future.
Disclaimer: This document represents the views of Axis Asset Management Co. Ltd. and must not be taken as the basis for an investment decision. Neither Axis Mutual Fund, Axis Mutual Fund Trustee Limited nor Axis Asset Management Company Limited, its Directors or associates shall be liable for any damages including lost revenue or lost profits that may arise from the use of the information contained herein. No representation or warranty is made as to the accuracy, completeness or fairness of the information and opinions contained herein. The material is prepared for general communication and should not be treated as research report. The data used in this material is obtained by Axis AMC from the sources which it considers reliable. The above should not be construed as an investment advise. Axis MF/AMC is not guaranteeing any returns on any investments.
While utmost care has been exercised while preparing this document, Axis AMC does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s). The AMC reserves the right to make modifications and alterations to this statement as may be required from time to time.
Axis Bank Ltd. is not liable or responsible for any loss or shortfall resulting from the operation of the scheme.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
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