Mutual Funds

Axis Mutual Fund garners over INR 3,400 Crores in the Axis India Manufacturing Fund

Posted On : 2023-12-22 13:51:29( TIMEZONE : IST )

Axis Mutual Fund garners over INR 3,400 Crores in the Axis India Manufacturing Fund

Axis Mutual Fund, one among the fastest growing fund houses in India, is excited to announce that it has garnered over INR 3,400 crores in the Axis India Manufacturing Fund, one of the highest funds raises ever in a thematic fund this year. This NFO, from 1st Dec to 15th Dec 2023, received robust participation from diverse investor segments from over 500 locations in India and garnered close to one lakh fifty thousand applications. Further, fresh inflows accounted for nearly 70% of the applications, making the NFO a resounding success. The digital channel witnessed an overwhelming participation as well, contributing to nearly 20% of the total applications, creating a new milestone for the Fund House.

In fact, in one of the first of its kind for the fund house, unique customers from B30 markets accounted for nearly 44%, standing on an almost equal footing with T30 markets. The overwhelming response from B30 markets is a clear reflection of the financially maturing Bharat and investor aspirations.

B. Gopkumar, MD & CEO, Axis AMC commented, "The overwhelming response underscores the confidence that investors have placed in India's growth potential and Axis Mutual Fund's commitment to deliver value. A significant ~10% of the applicants opted for long-term investments through SIPs (Systematic Investment Plans). Almost 30% of the Investors who invested in the NFO were new to Axis Mutual Fund, advocating their faith in us. This strong response marks the evolution of India's investor base who are demonstrating the resilience and preference for such funds while understanding the long-term opportunities to leverage, given the fact that India remains on a higher growth trajectory and the government's strong focus on manufacturing."

Source : Equity Bulls


AxisBank INE238A01034 AxisMutualFund AxisIndiaManufacturingFund