Should you go for pharma funds amid fresh spike in covid cases?
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On Friday, Axis Mutual Fund launched the Axis Healthcare ETF, which will track the Nifty Healthcare Index.
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After years of underperformance, the Indian healthcare sector sprang into action post March 2020 as the first wave of covid-19 hit the country. However, from December onwards, the sector went into a healthy correction as investors moved to cyclicals as the economy opened up. The fresh spike in cases has again made the case for tactical allocation to healthcare.
To ride the trend, Axis Mutual Fund on Friday launched Axis Healthcare Exchange-Traded Fund (ETF). The open-ended ETF, which will close on 10 May, will track the Nifty Healthcare Index, and will be managed by Jinesh Gopani, head of equity, Axis AMC.