Axis MF accumulates over ₹3,400 crores via Manufacturing Fund NFO. Details here

livemint.com:

₹3,400 crores in the Axis India Manufacturing Fund. This thematic fund was introduced to deliver long-term capital appreciation through investments in equity and equity-related securities of companies aligned with the manufacturing theme. From December 01 to December 15, 2023, this new fund offer (NFO) witnessed strong engagement from various investor segments across more than 500 locations in India, accumulating nearly 1,50,000 applications.

Notably, approximately 70% of the applications represented new inflows, underscoring the substantial success of the NFO. Additionally, the digital channel played a significant role, contributing to nearly 20% of the total applications, indicating a gradual transition in investor preferences towards the digital investing sphere. B Gopkumar, MD & CEO, Axis AMC commented, “The overwhelming response underscores the confidence that investors have placed in India’s growth potential and Axis Mutual Fund’s commitment to deliver value.

A significant ~10% of the applicants opted for long-term investments through systematic investment plans (SIPs). Almost 30% of the Investors who invested in the NFO were new to Axis Mutual Fund, advocating their faith in us. This strong response marks the evolution of India’s investor base demonstrating resilience and preference for such funds while understanding the long-term opportunities to leverage, given the fact that India remains on a higher growth trajectory and the government’s strong focus on manufacturing." Investors inclined towards this scheme have the flexibility to invest with a minimum amount of ₹500 per plan/option, and they can increase their investment in multiples of Re 1.