Axis Mutual Fund has unveiled an ‘Axis Consumption Fund’ for investments in equities of consumption shares. The brand new fund supply (NFO) opens on August 23 and closes on September 6. The fund is an open-ended fairness scheme.
“The Axis Consumption Fund provides traders a chance to take part on this unfolding pattern and goals to construct a strong portfolio that captures this dynamic development,” Ashish Gupta, Chief Funding Officer, Axis AMC, stated in an announcement.
The fund is benchmarked on the Nifty India Consumption TRI and would put money into fairness in eight sectors, specifically FMCG, vehicle and equipment, telecommunication, healthcare, realty, energy, shopper providers, and shopper durables, the corporate stated in a media briefing.
The brand new fund will make investments each in cyclical and non-cyclical sectors for range and has an funding horizon of greater than 5 years. Cyclical sectors are these which are simply affected by fluctuations within the enterprise cycle, which suggests, the seasonal volatility can have an effect on portfolios within the fund. The publicity to cyclical sectors is lower than 30%, Axis MF stated in a media briefing. The mutual fund scheme is rated very excessive on danger, in keeping with the corporate’s assertion.
