Axis Mutual Fund Introduces Manufacturing Fund
Axis Mutual Fund unveiled its latest offering on Wednesday – the ‘Axis India Manufacturing Fund.’ Scheduled to kick off on December 1, 2023, and run until December 15, 2023, the open-ended equity scheme is set to be benchmarked against the Nifty India Manufacturing TRI.
The fund’s primary objective is to achieve long-term capital appreciation by strategically investing in companies operating within manufacturing sectors such as capital goods, consumer durables, textiles, and pharmaceuticals.
B. Gop Kumar, Managing Director, and CEO of Axis AMC, expressed that this thematic fund is strategically designed to leverage India’s burgeoning momentum, with a keen focus on sectors poised to redefine the nation’s industrial landscape.
According to the scheme document, under normal circumstances, the asset allocation will be predominantly toward equity and equity-related instruments based on the manufacturing theme, ranging from 80-100 percent. Additionally, the fund will employ a bottom-up approach with a multi-cap stock selection strategy, targeting stocks based on specific merits such as financial performance, management quality, and growth prospects.
Fund managers Shreyash Devalkar and Nitin Arora will adopt an active sectoral allocation and quality style of investing, concentrating on under-represented segments of the Indian listed markets.
Ashish Gupta, Chief Investment Officer at Axis AMC, emphasized the fund’s aim to create a portfolio that not only reflects robust growth potential but also actively contributes to investors’ wealth creation, positioning them to benefit from companies at the forefront of India’s industrial renaissance.
