Axis Mutual Fund has launched an open-ended equity scheme Axis Multicap Fund which would invest in a diversified portfolio of stocks across market-cap spectrum. The new fund offer will be open for investment between October 30 and November 13.

Within the overall investment process, Axis Multicap Fund targets to identify companies that are at their inflection points with the potential to substantially improve its growth trajectory. Growth in these companies can happen due to market share gain from competitive advantage, industry consolidation, sunrise industry, improved management focus and capital allocation and regulatory and policy changes, said Axis MF in a statement on Wednesday.

Chandresh Kumar Nigam, Managing Director, Axis Asset Management Company, said the fund would offer a diversified portfolio that can cater to all equity investors including the first time or sophisticated. Over the longer term, it has been seen that multi-cap funds tend to outperform large-caps over a market cycle while having a comparable risk profile, he added.

From an investor’s perspective, being consistently good rather than occasionally great has the potential to create long-term wealth. It is suitable for all class of investors to help them participate in wealth creation and compounding potential of equity over the long term, he added.

The minimum investment in the fund during the new fund offer has been fixed at ₹5,000 and the minimum under systematic investment plan is ₹1,000. The fund is benchmarked to S&P BSE 200 index.

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