Axis Mutual Fund targets to attract investment of ₹1,500 crore in Axis Growth Opportunities Fund which offers global diversification for Indian investors. The open-ended fund will invest in equity and equity-related instruments, both in India and overseas.

The new fund offer is open for investment between October 1 to 15 and minimum application amount is fixed at ₹5,000.

The fund will invest 30-35 per cent in domestic large-caps and up to 35 per cent in foreign securities (predominantly large-caps) making total large-caps at 35-65 per cent. The remaining corpus would be invested in domestic mid-caps.

Overseas allocation will be made in foreign securities under advise from Schroder Investment Management. The fund will follow the bottom up investing philosophy on its overseas exposure. The target of the high-quality portfolio will generate sustainable long-term performance while keeping risk contained.

Global exposure

India’s equity market-cap is just 3 per cent of world’s market-cap, indicating that domestic mutual fund investors are not exposed to 97 per cent of the world’s equity investment opportunities. The fund aims to offer global diversification to Indian investors by participating in equity and equity-related instruments, both in India as well as overseas, said Axis Mutual Fund.

Chandresh Kumar Nigam, Managing Director, Axis AMC, said if Indian investors are the consumers of multiple global brands in their day-to-day lives, they should have access to participate in their global growth stories and the new fund offer provides this opportunity.

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