BoI AXA Mutual Fund plans to raise Rs. 100 crore through its new launch, BoI AXA Small Cap Fund, an open-ended equity fund that focusses on generating higher returns by investing in small-cap stocks.
The fund would invest up to 65 per cent in small-cap stocks as defined by SEBI reclassification norms, about 30 per cent in large- and mid-caps and hold 1-5 per cent in cash.