Axis Mutual Fund launches Axis India Manufacturing Fund

 
Axis Mutual Fund has launched AxisIndia Manufacturing Fund, an open-ended equity scheme representing the India manufacturing theme. The new fund offer or NFO of the scheme will open for subscription on December 1 and it will close on December 15.

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 themes. The scheme will be benchmarked against NIFTY India Manufacturing TRI. The scheme will be managed by Shreyash Devalkar and Nitin Arora. The minimum application amount will be Rs 500 and in multiples of Rs 1 thereafter.

In 2023, Axis Mutual Fund offers a diverse range of mutual fund schemes. As of February 28th, 2023, they have a total of 77 schemes. Out of these, there are 23 equity schemes, 32 debt schemes, and 6 hybrid schemes. Some of the trending schemes include Axis Multicap Fund, which has an annualized return of 12.94% and a benchmark return of 15.59%, and Axis Small Cap Fund with a return rate of 93.32% [1]. Axis Mutual Fund has a product lineup of over 53 different schemes and operates in 19 countries. They have reported Assets Under Management (AMU) of Rs. 2.6 lakh crores as of March 31, 2023.

Axis Mutual Fund has recently launched the Axis India Manufacturing Fund, which is an open-ended equity scheme specifically focused on the Indian manufacturing theme [1]. This fund aims to capitalize on the potential of India's growing manufacturing sector, which is expected to expand in the coming years due to initiatives like 'Make in India' and various reforms [2]. The Axis India Manufacturing Fund will be benchmarked against the Nifty India Manufacturing TRI and will remain open for investment until December 15 [2]. It will invest in a diverse range of industries and sectors within the Indian economy, including capital goods, consumer durables, textiles, and pharmaceuticals [2]. The fund will follow a bottom-up approach and adopt a multi-cap stock selection strategy [2]. However, it is important to note that the fund carries a high risk, as indicated by its riskometer [2].