(An Open-Ended Equity Scheme representing the India Manufacturing Theme)
Key Highlights: –
· Category: Thematic
· Scheme Details: An Open-Ended Equity Scheme representing the India Manufacturing Theme
· Fund Managers: Nitin Arora and Shreyash Devalkar
· Gross Sales: Over INR 3,400 crores
· Applications received: Around One Lakh Fifty Thousand
Bengaluru, December 22, 2023: Axis Mutual Fund, one among the fastest growing fund houses in India, is excited to announce that it has garnered over INR 3,400 crores in the Axis India Manufacturing Fund, one of the highest funds raises ever in a thematic fund this year. This NFO, from 1st Dec to 15th Dec 2023, received robust participation from diverse investor segments from over 500 locations in India and garnered close to one lakh fifty thousand applications. Further, fresh inflows accounted for nearly 70% of the applications, making the NFO a resounding success. The digital channel witnessed an overwhelming participation as well, contributing to nearly 20% of the total applications, creating a new milestone for the Fund House.
In fact, in one of the first of its kind for the fund house, unique customers from B30 markets accounted for nearly 44%, standing on an almost equal footing with T30 markets. The overwhelming response from B30 markets is a clear reflection of the financially maturing Bharat and investor aspirations.
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 SIPs (Systematic Investment Plans). 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 who are demonstrating the 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.”
For detailed information on the investment strategy and to view the Scheme Information Document (SID)/Key Information Memorandum (KIM), please visit www.axismf.com.
Sources: Axis MF Research as on 16th Dec 2023
Product Labelling and Riskometer:
AXIS INDIA MANUFACTURING FUND (An open-ended equity scheme representing the India Manufacturing Theme)
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About Axis AMC: Axis AMC is one of India`s fastest growing assets managers offering a comprehensive bouquet of asset management products across mutual funds (https://www.axismf.com/), portfolio management services and alternative investments (https://www.axisamc.com/homepage).
Disclaimer: This press release represents the views of Axis Asset Management Co. Ltd. and must not be taken as the basis for an investment decision. Neither Axis Mutual Fund, Axis Mutual Fund Trustee Limited nor Axis Asset Management Company Limited, its Directors or associates shall be liable for any damages including lost revenue or lost profits that may arise from the use of the information contained herein. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s).
The information set out above is included for general information purposes only and does not constitute legal or tax advice. In view of the individual nature of the tax consequences, each investor is advised to consult his or her own tax consultant with respect to specific tax implications arising out of their participation in the Scheme. Income Tax benefits to the mutual fund & to the unit holder is in accordance with the prevailing tax laws as certified by the mutual funds consultant. Any action taken by you on the basis of the information contained herein is your responsibility alone. Axis Mutual Fund will not be liable in any manner for the consequences of such action taken by you. The information contained herein is not intended as an offer or solicitation for the purchase and sales of any schemes of Axis Mutual Fund.
Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd. (liability restricted to Rs. 1 Lakh). Trustee: Axis Mutual Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC). Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of the scheme.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.