Axis Mutual Fund has launched the Axis Consumption Fund, an open-ended equity scheme focused on India’s consumption theme. The New Fund Offer (NFO) will be open from August 23 to September 6, 2024, allowing investors to benefit from India’s growing consumer market, driven by rising incomes and urbanization. The fund is benchmarked against the NIFTY India Consumption TRI and will be managed by Mr. Hitesh Das, Mr. Shreyash Devalkar, and Ms. Krishnaa Narayan.
The Axis Consumption Fund aims to provide diversified exposure to sectors like FMCG, auto, healthcare, and realty, capitalizing on India’s consumption-driven growth. With a minimum application amount of Rs. 100, the fund targets long-term investors seeking to tap into the evolving consumer landscape.
Guwahati, known for its robust retail growth and increasing consumer spending, is expected to benefit from the fund’s focus on urbanization and premiumization. The fund’s strategic emphasis aligns with Guwahati’s expanding middle class and rising demand for branded products.Axis Mutual Fund’s Chief Investment Officer, Mr. Ashish Gupta, highlighted the fund’s potential to capture India’s dynamic consumption trends, offering investors a promising avenue for wealth creation.
