Axis Mutual Fund's thematic fund collects Rs 3,400-crore in NFO period
The thematic fund received robust participation from investor segments from over 500 locations in the country and garnered close to 1.5 lakh applications, Axis Mutual Fund said in a statement.
Axis Mutual Fund on Friday said it has collected over Rs 3,400 crore from the New Fund Offering (NFO) of its manufacturing scheme.
Axis India Manufacturing Fund, an open-ended equity scheme, was open during December 1-15.
The thematic fund received robust participation from investor segments from over 500 locations in the country and garnered close to 1.5 lakh applications, Axis Mutual Fund said in a statement.
Further, fresh inflows accounted for nearly 70 per cent of the applications and the digital channel witnessed an overwhelming participation as well, contributing to nearly 20 per cent the total applications.
"A significant 10 per cent of the applicants opted for long-term investments through SIPs (Systematic Investment Plans). Almost 30 per cent of the investors who invested in the NFO were new to Axis Mutual Fund, advocating their faith in us," B Gopkumar, MD and CEO, Axis AMC, said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
02:49 PM IST