The asset management company has set an overall collection target of Rs 1,000-1,500 crore during the new fund offer (NFO) period. The new fund, an open-ended equity scheme, opened on July 11 and will close on July 25.
"We are betting big on Tier-II and Tier-III cities. We expect that 40 per cent of the targeted collection of the NFO will come from beyond the first fifteen cities. The awareness about the mutual fund is on the rise in Tier II and Tier -III cities", Ashwin Patni, head (products and fund manager) of Axis Mutual Fund told media persons here.
