NFO Watch: Axis Mutual Fund launches Axis Consumption Fund
Axis Mutual Fund has announced the launch of Axis Consumption Fund, an open-ended equity scheme following the consumption theme.
The new fund offer or NFO of the scheme will open for subscription on August 23 and will close on September 6. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.
The scheme will be benchmarked against Nifty India Consumption TRI. The fund will be managed by Hitesh Das, Shreyash Devalkar, and Krishnaa Narayan.
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The investment objective of the scheme is to provide long term capital appreciation from an actively managed portfolio of equity and equity related securities of companies engaged in consumption and consumption related sectors or allied sectors.
The fund aims to provide a diversified portfolio that reflects the broad spectrum of India's consumption-driven sectors, including FMCG, Auto, Telecommunication, Healthcare, Realty, and more, according to a press release by the fund house.
Exit load applicable on the scheme is if redeemed / switched-out within 12 months from the date of allotment: For 10% of investments: NIL For remaining investments: 1%.
The minimum investment amount is Rs 100 and in multiples of Re 1 thereafter. Minimum investment amount for monthly SIP is Rs 1,000 with minimum six instalments.
“The evolving consumption patterns in India are a crucial aspect of India’s growth trajectory. As our
