New fund launches in July: Axis, Mirae, Motilal Oswal launch new passive funds; GIFT City gets physical gold fund
Mutual fund houses and investment managers have introduced a fresh set of investment products, reflecting growing demand for passive investing and alternative asset exposure. The launches include index funds, exchange-traded funds (ETFs), a fund of fund (FoF) and a physical gold fund.
GIFT City-based Artha Bharat Investment Managers IFSC LLP has launched the Artha Bharat FinMet Physical Gold Fund, one of the first physical commodity investment funds to be introduced from GIFT City following recent regulatory changes by the International Financial Services Centres Authority (IFSCA).
The launch follows an IFSCA notification, effective January 2026, that brought commodity trading within the definition of financial products under the IFSC regulatory framework.
The fund has been launched in partnership with Singapore-based FinMet, which will act as the investment adviser.
Under the scheme, at least 95% of the corpus will be invested in London Bullion Market Association (LBMA) standard gold bars traded on the India International Bullion Exchange (IIBX). Structured as an open-ended, passively managed fund, it will offer weekly subscriptions and redemptions, with investors having the option to redeem units either in cash or through physical delivery of gold, subject to applicable terms.
The gold will be stored in insured vaults operated by India International Depository IFSC (IIDI), which is regulated by IFSCA.
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The launch is expected to strengthen GIFT City’s bullion ecosystem by expanding the range of investment products available through the IFSC. Artha Bharat said the fund will be among the first institutional vehicles to hold physical gold through the IIBX infrastructure as a financial investment asset rather than for import-related transactions.
Axis Nifty50 Equal Weight Index Fund
Axis Mutual Fund has launched the New Fund Offer (NFO) for the Axis Nifty50 Equal Weight Index Fund, an open-ended passive scheme that tracks the Nifty50 Equal Weight Total Return Index (TRI). The NFO opened on July 3 and will close on July 17.
The fund follows an equal-weight strategy, investing equally across all 50 Nifty constituents and rebalancing the portfolio quarterly. Unlike the market-cap-weighted Nifty 50, the equal-weight index reduces concentration in large-cap stocks and provides more balanced exposure across the index.
The scheme will be managed by Nandik Mallik and Rohit Gautam. The minimum investment is ₹100, and an exit load of 0.25% applies for redemptions within 15 days of allotment.
Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund
Motilal Oswal Mutual Fund has launched the New Fund Offer (NFO) of the Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund, an open-ended passive scheme that seeks to replicate the performance of the BSE Midcap 150 Momentum 30 Index. The NFO opened on July 3 and will close on July 17.
The fund will invest in 30 midcap stocks selected from the BSE Midcap 150 Index using a momentum-based methodology that considers 12-month price performance adjusted for volatility. The portfolio will be rebalanced quarterly to capture changing market trends.
According to the fund house, the underlying index has delivered a five-year CAGR of 30.46% as of May 29, 2026, outperforming the BSE Midcap 150 TRI (18.31%) and Nifty 50 TRI (9.88%).
The minimum investment is ₹500. The scheme carries a 1% exit load if redeemed within 15 days of allotment. The fund will be managed by Swapnil Mayekar, Dishant Mehta and Rakesh Shetty.
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Mirae Asset BSE Midcap 150 Momentum 30 ETF
Mirae Asset Mutual Fund has launched two passive investment products tracking the BSE Midcap 150 Momentum 30 Index—an exchange-traded fund (ETF) and a fund of fund (FoF)—expanding its range of smart beta offerings.
The New Fund Offer (NFO) for the Mirae Asset BSE Midcap 150 Momentum 30 ETF opens on July 6 and closes on July 13, while the NFO for the corresponding FoF will remain open until July 20.
The ETF seeks to replicate the performance of the BSE Midcap 150 Momentum 30 Total Return Index, which comprises 30 stocks selected from the BSE Midcap 150 universe using a rules-based momentum strategy. The FoF will primarily invest in units of the ETF, offering investors exposure to the strategy without the need to trade on stock exchanges.
The underlying index identifies stocks based on their 12-month risk-adjusted momentum and applies liquidity filters while capping the weight of each stock at 5%. The portfolio is reviewed and rebalanced every quarter to reflect changing market trends.
Momentum investing aims to capture stocks exhibiting sustained price strength, although such strategies can underperform during sharp market reversals. Since the index focuses on midcap stocks, investors may benefit from higher growth potential but should also be prepared for relatively higher volatility.
The minimum investment during the NFO period is ₹5,000, with additional investments allowed in multiples of Re 1. Both schemes will be managed by Ekta Gala and Vishal Singh and benchmarked against the BSE Midcap 150 Momentum 30 Total Return Index. The fund house said the launches strengthen its suite of factor-based passive investment products.
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Disclaimer: Business Today provides market and personal news for informational purposes only and should not be construed as investment advice. All mutual fund investments are subject to market risks. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.