Publish Date:
Axis Mutual Fund launches – Axis India Manufacturing Fund
It is an open-ended equity scheme representing the India manufacturing theme.
Accordingly, the investment objective of the scheme is to provide long term capital appreciation by investing in equity and equity related securities of companies engaged in manufacturing theme. However, there can be no assurance that the investment objective of the Scheme will be achieved.
[Read: Top 5 Mutual Funds That Are Betting on the Manufacturing Boom]
Under normal circumstances, Axis India Manufacturing Fund will hold an allocation of 80% to 100% in Equity & Equity related instruments selected based on the manufacturing theme, 0% to 20% in other Equity & Equity Related Instruments, 0% to 20% in Debt & Money Market Instruments and 0% to 10% in Units issued by REITs & InVITs.
As per the Scheme Information Document, Axis India Manufacturing Fund aims to provide long-term capital growth by investing in a diversified portfolio of equity & equity related securities with an underlying manufacturing theme.
The scheme aims to invest in listed companies that manufacture goods and that have/will have manufacturing facilities. The Scheme also aims to invest in such companies that are likely to benefit from government incentives & the entire manufacturing opportunity available in India. The fund manager may at his discretion invest up to 20% of the scheme assets outside the Manufacturing theme based on his assessment of the investment opportunities.
Axis India Manufacturing Fund’s performance will be benchmarked against NIFTY India Manufacturing TRI
The scheme will be managed by Mr Shreyash Devalkar and Mr Nitin Arora.
The NFO opens for subscription on December 01, 2023 and closes on December 15, 2023. The schemes will reopen for continuous sale and repurchase Within five business days of allotment date.
The minimum subscription amount is Rs 500/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).