Publish Date:
Axis Mutual Fund has launched an open-ended fund of fund scheme - Axis Greater China Equity Fund of Fund.
The scheme will be investing its assets in Schroder International Selection Fund Greater China.
The investment objective of the scheme is to provide long term capital appreciation by predominantly investing in units of Schroder International Selection Fund Greater China, a fund that aims to provide capital growth by investing in equity and equity related securities of People's Republic of China, Hong Kong SAR and Taiwan companies. The Scheme may also invest a part of its corpus in debt, money market instruments and / or units of liquid schemes in order to meet liquidity requirements from time to time.
However, there can be no assurance that the investment objective of the Scheme will be realized.
Axis Greater China Equity Fund of Fund is a passively managed fund mandated to invest 95% to 100% of its net assets in units / shares of Schroder International Selection Fund Greater China and 0% to 5% of the net assets in Debt, Money market instruments and / or units of liquid schemes.
Accordingly, the corpus of the Scheme, will be primarily invested in shares / units of Schroder International Selection Fund Greater China in accordance with the requirements stipulated by SEBI / RBI from time to time, Debt Instruments, Money Market Instruments and other permitted securities.
About Schroder International Selection Fund Greater China:
Schroder International Selection Fund Greater China (“SISF-GC”) invests at least two-thirds of its assets in equities of companies in People's Republic of China, Hong Kong and Taiwan. SISF-GC may invest directly in China B-Shares and China H-Shares and may invest less than 30% of its assets in China A-Shares through Shanghai/Shenzhen-Hong Kong Stock Connect. SISF-GC may also hold cash.
SISF-GC is benchmarked against the MSCI Golden Dragon Index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark.
Axis Greater China Equity Fund of Fund’s performance will be benchmarked against MSCI Golden Dragon Index (in INR Terms).
The fund will be managed by Mr Hitesh Das, and Mr R. Sivakumar.
The NFO opens for subscription on January 29, 2021 and closes on February 05, 2021. The scheme will reopen for continuous sale and repurchase within five Business Days from the date of allotment.
The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).