Axis Mutual Fund has today announced the launch of its new fund, Axis Growth Opportunities Fund.
In a press release, the fund house said, “India’s equity market cap is just 3% of world’s market cap indicating that domestic mutual fund investors are not exposed to 97% of the world’s equity investment opportunities. This fund aims to offer global diversification to Indian investors by participating in equity and equity related instruments both in India as well as overseas.”
The fund will typically look to have 30-35% in domestic large caps and up to 35% in foreign securities (predominantly large caps) making total large cap as 35-65% and total domestic midcap of 35-40%.
Axis MF’s foreign partner, Schroder Investment will recommend overseas allocation strategy to invest in foreign securities. “Overseas investment philosophy is aligned with domestic Axis philosophy of bottom up investing in high quality stocks with high growth prospects. The target of the portfolio construct is to generate sustainable long term performance while keeping risk contained. The highly experienced fund management team at Axis AMC & global expertise from Schroder is well placed to execute on this philosophy,” said the fund house.
Chandresh Kumar Nigam, MD & CEO, Axis AMC said, “If Indian investors are the consumers of multiple global brands in their day to day lives, they should be given access to participate in their global growth stories. The fund offers global diversification to Indian investors by leveraging our relationship with Schroder and their global equity investing expertise.”
Jinesh Gopani, Head – Equity will manage the fund.
