The new fund offer or NFO of the scheme will open for subscription on August 23 and close on September 6. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.
The plan will be compared with Nifty India TRI Consumption IndexThe fund will be managed by Hitesh Das, Shreyash Devalkarand Krishna Narayan.
The investment objective of the plan is to provide long-term capital appreciation from an actively managed portfolio of equity and equity-related securities of companies engaged in consumer and consumer-related or related industries.
The fund aims to provide a diversified portfolio reflecting the broad spectrum of India’s consumption-driven sectors including fast-moving consumer goods (FMCG), automobiles, telecom, healthcare, real estate and more, according to a press release from the fund manager.
Output load Applicable under the scheme if redeemed/exchanged within 12 months from the date of allotment: For 10% of investments: NONE For remaining investments: 1%. Minimum investment amount is Rs 100 and in multiples of Rs 1 thereafter. Minimum investment amount for monthly SIP is Rs 1,000 with a minimum of six instalments. “Changing consumption patterns in India are a crucial aspect of India’s growth trajectory. As the aspirations of our population grow and purchasing power increases, companies in this space are positioned for sustained growth,” said Ashish Gupta, Chief Investment Officer, Axis AMC.
“The Axis Consumer Fund offers investors an opportunity to participate in this developing trend and aims to build a robust portfolio that captures this dynamic growth. This fund not only reflects current consumer trends but also anticipates drivers of future growth, 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 investment style, capturing the emerging trend in the history of consumption.
“India is at a crucial juncture in its economic journey. As we navigate through global uncertainties, the resilience and growth potential of our domestic market has never been more evident,” he said. B. GopkumarManaging Director & CEO, Axis AMC.
“The Axis Consumption Fund is our strategic approach to address one of the most important issues facing our country today – our evolving consumption landscape. This fund aims to capture the value created by India’s growing consumer base, changing preferences and rising 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 that offers investors a strategic investment avenue that reflects the opportunities in the Indian market,” he added.
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