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Axis MF Collects Rs 3,400 Cr Via Manufacturing NFO

BW Online Bureau Dec 22, 2023

Axis Mutual Fund has collected over Rs 3,400 crore in the Axis India Manufacturing Fund in a thematic fund.

The participation from diverse investor segments has been notable, with over 1.5 lakh applications. Further, fresh inflows accounted for nearly 70 per cent of the applications, making the NFO a resounding success. The digital channel witnessed nearly 20 per cent of the total applications, the fund house said.

Unique customers from B30 markets accounted for nearly 44 per cent, standing on an almost equal footing with T30 markets.

B. Gopkumar, MD & CEO, Axis AMC commented, “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. This strong response marks the evolution of India’s investor base, demonstrating the resilience and preference for such funds while understanding the long-term opportunities to leverage, given the fact that India remains on a higher growth trajectory and the government’s strong focus on manufacturing.”