Axis Mutual Fund has launched the Axis India Manufacturing Fund, an open-ended equity scheme aimed at leveraging India’s growing manufacturing theme. The scheme, benchmarked against the Nifty India Manufacturing TRI, will open on 1st December 2023 and remain open until 15th December 2023. The NFO aims to help investors capitalize on India’s manufacturing theme’s potential, which is expected to grow in the coming years.
The Axis India Manufacturing Fund is a diversified investment scheme that targets industries that are likely to benefit from structural changes in the Indian economy. It covers capital goods, consumer durables, textiles, and pharmaceuticals, identifying companies across three segments: investments (Capex Cycle), consumption (Increasing Income leads to Premiumization), and net exports (Focus on Import Substitution).
The fund managers are Mr. Shreyash Devalkar and Mr. 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.
