The new fund offer or NFO of the scheme will open for subscription on August 23 and will close on September 6. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.
The scheme will be benchmarked against Nifty India Consumption TRI. The fund will be managed by Hitesh Das, Shreyash Devalkar, and Krishnaa Narayan.
The investment objective of the scheme is to provide long term capital appreciation from an actively managed portfolio of equity and equity related securities of companies engaged in consumption and consumption related sectors or allied sectors.
The fund aims to provide a diversified portfolio that reflects the broad spectrum of India’s consumption-driven sectors, including FMCG, Auto, Telecommunication, Healthcare, Realty, and more, according to a press release by the fund house.
Exit load applicable on the scheme is if redeemed / switched-out within 12 months from the date of allotment: For 10% of investments: NIL For remaining investments: 1%.The minimum investment amount is Rs 100 and in multiples of Re 1 thereafter. Minimum investment amount for monthly SIP is Rs 1,000 with minimum six instalments. “The evolving consumption patterns in India are a crucial aspect of India’s growth trajectory. As our population’s aspirations grow and spending power increases, companies in this space are positioned for sustained growth,” said Ashish Gupta, Chief Investment Officer, Axis AMC.
“The Axis Consumption Fund offers investors an opportunity to participate in this unfolding trend and aims to build a robust portfolio that captures this dynamic growth. This fund not only reflects the current consumption trends but also anticipates future growth drivers, positioning our investors to reap the benefits of India’s economic transformation. This thematic approach aligns with the fundamental drivers of our nation’s progress, potentially offering a unique avenue for long-term wealth creation,” he added.
The fund will follow a bottom-up approach with a quality-focused style of investing, capturing the emerging trend in the consumer story.
“India stands at a pivotal moment in its economic journey. As we navigate through global uncertainties, our domestic market’s resilience and growth potential have never been more evident,” said B. Gopkumar, MD and CEO, Axis AMC.
“The Axis Consumption Fund is our strategic approach to one of the most compelling narratives in our country today – the evolution of our consumer landscape. This fund aims to capture the value created by India’s expanding consumer base, their changing preferences, and increasing purchasing power. We have a great team of fund managers with extensive experience in equity markets, who will manage the fund. Under their guidance, the fund aims to build a diversified portfolio offering investors a strategic investment avenue that reflects the opportunities in the Indian market.” he added.
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