Axis Mutual Fund has announced the launch of its ‘Axis Equity Hybrid Fund’, an open-ended hybrid scheme that would predominantly invest in equity. The scheme opens for subscription from July 20 to August 3, 2018.
The fund aims to invest between 65-80% in equity and equity related instruments and the remaining portion in debt and money market instruments. The fund will follow bottom up investing in quality stocks. The scheme aims to generate sustainable long-term performance while containing risk.
Speaking about the fund, Chandresh Kumar Nigam, MD & CEO, Axis MF said, “We aim to discover exceptional businesses, which have potential to compound in value over medium to long term. The fund will have large cap bias to reduce risk. On debt component, we will actively manage the portfolio duration. In the current scenario of rising interest rate, we will invest in corporate bonds and short duration papers.”
Sharing the rationale for launching the fund, he said, “While equity forms an integral part of an investor’s portfolio, it has its own share of risks. We have introduced schemes, which mix different asset classes to reduce volatility. With the addition of Axis Equity Hybrid Fund, we will complete our hybrid product suite."
Shreyash Devalkar, Senior Fund Manager – Equity, Ashish Naik, Fund Manager, Equity and R Sivakumar, Head – Fixed Income will manage the fund.