In an endeavour to harness the potential of India’s growing manufacturing theme, Axis Mutual Fund, one among the fastest growing fund houses in India, has announced the launch of Axis India Manufacturing Fund. An open-ended equity scheme, benchmarked against the Nifty India Manufacturing TRI, is set to open on 1st December 2023, aiming to capitalize on India’s growing manufacturing theme. The scheme, which will remain open until 15th December 2023, is expected to attract investors.
The Axis India Manufacturing Fund is a strategic investment initiative aiming to leverage India’s manufacturing capabilities in capital goods, textiles, and pharmaceuticals. The fund will select companies from three Indian economy segments:investments (capex cycle), consumption (industry with rising demand due to domestic consumption and premiumization), and net exports (focusing on import substitution).
The fund managers are Shreyash Devalkar and Nitin Arora. The minimum application amount is Rs. 500. The exit load is Nil for 10% of investment, 1% for remaining investment, and Nil for redeemed or switched out within 12 months.Mr. B. Gop Kumar, MD & CEO, Axis AMC explained, “The Axis India Manufacturing Fund arrives at a critical juncture where India’s economy is being fuelled by strategic initiatives like ‘Make in India’, and a spate of reforms.”
