On May 6,2021, Axis Mutual Fund launched a mutual fund scheme called Axis Global Innovation Fund of Fund to provide opportunity for investors to invest in Schroder International Selection Fund (SISF) Global Disruption.This is AMC’s fourth international fund.
- SISF Global Disruption is an equity fund that aims to provide long term capital growth by investing in worldwide companies that benefit from disruption.
Type of the Scheme:
i.It is an open-ended fund of fund scheme that will invest in SISF Global Disruption to provide capital growth.
ii.This global investment fund will access different global disruption themes such as environment, automation, healthcare, fintech, communication, food and water, new consumer, digitalization, and e-commerce.
iii.SISF Global Disruption will provide capital growth by investing in innovative companies that are redefining their industries or are successfully adapting to change.
i.From May 10 to 21, 2021, the New Fund Offer (NFO) will be open for subscription and the minimum application will be Rs 5,000 and in multiples of Re 1/- thereafter. The benchmark against the scheme will be MSCI All Country World index (ACWI) (Net TR) (INR).
ii.At first the scheme will be investing in shares/units of the underlying fund, which in turn invests in global equities. An expense ratio of 2.25 percent is estimated by the Axis asset management company.
Suitability of the scheme:
This scheme will be suitable for investors who want international allocation/global diversification and having high risk appetite, as the scheme is thematic and highly risky one.
Note – Fund of Funds (FOF)- It is an investment strategy, which utilises its pool of resources to invest in various other kinds of mutual funds available in the market rather than investing directly in stocks, bonds or other securities.
Note – New Fund Offer (NFO) – It is the first subscription offering for any new fund offered by an investment company.
Recent Related News:
On March 10, 2021, Axis Bank became India’s first bank after launching its own wearable payment device named ‘Wear ‘N’ Pay’, to make contactless transactions. It includes a variety of accessories like the band, key chain, and watch loop.
About Axis Mutual Fund:
Establishment – 2009
Headquarters – Mumbai, Maharashtra
MD & CEO – Chandresh Kumar Nigam