Two equity new fund offerings (NFOs) will hit the market in December. Axis AMC will launch Axis Special Situations Fund, an open-ended equity scheme that will invest in domestic and global markets as well as across the market cap spectrum. It will be benchmarked to Nifty 500 TRI.
The overseas investments will be advised by Schroder Investment Management based on their disruption philosophy. The NFO will remain open for subscription from December 4-18.
"Our product development is backed by our unique and time tested philosophy of responsible investing with an unflinching focus on quality. As the world transforms around us led by ever accelerating technological change and innovation, investors need to be able to allocate to and benefit from this theme, whether in Indian or global markets," said Chandresh Nigam, MD & CEO, Axis AMC.
UTI Mutual Fund will hit the market with ‘UTI Small Cap Fund’, an open-ended equity scheme that will invest in small cap stocks. The NFO will remain open from December 2-16.
UTI Small Cap Fund will endeavour to invest in companies that have scalable business models and are run by seasoned management.
"In recent years, a wide spectrum of initiatives and opportunities have been set forth by the government to nurture small businesses. So, in the long run, the share of small companies in the economy is likely to expand,” said Ankit Agarwal, fund manager for the scheme.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU