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NFO News Rush of equity savings funds

Rush of equity savings funds

Axis MF is the latest fund house to launch an equity saving fund which straddles across equity, fixed income and arbitrage categories.
Team Cafemutual Jul 21, 2015

After Kotak, JP Morgan, Birla Sun Life and Reliance, Axis Mutual Fund is the latest fund house to join the equity savings fund launch bandwagon.

Axis MF announced the launch of its open ended equity fund called Axis Equity Saver Fund which will invest in equity, arbitrage and debt. “Such combined portfolios have lower risk compared to pure equity products. It will allow investors to plan for their longer term goals without getting affected by short term market fluctuations. Globally multi-asset portfolios are extremely popular across all kinds of investors for achieving their long term investment objectives,” said a press release issued by the company.

The fund will invest a maximum of 45% in equities and the balance between income generating assets including fixed income and arbitrage.

Chandresh Nigam, CEO, Axis MF said, “Axis MF has been at the forefront of product innovation. The core principle that we like to work with is to have sound risk management across all our products. With that objective, we have launched a number of multi-asset funds in the past including Axis Income Saver, Axis Triple Advantage Fund, Axis Hybrid Funds and Axis Capital Protection Oriented Funds. Continuing on that approach we are very excited to launch Axis Equity Saver Fund that will endeavor to offer a superior risk-return mix for long term investors in a tax efficient structure.”

He further adds, “We have observed that across markets, across time periods, asset allocation portfolios are able to bring down risk and generate reasonable outcomes for investors. In the Indian context, where the high volatility of equities deters investors, asset allocation strategies are likely to lead the way in getting investors to experience the power of long-term investments and to try and achieve their goals using mutual funds.”

The scheme is benchmarked against CRISIL MIP Blended Fund Index. The fund will be managed by Jinesh Gopani (equity) and R Sivakumar (debt).

The NFO opens on July 27 and closes on August 10. The scheme would reopen for ongoing subscription from August 20.

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