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Axis Mutual Fund has launched a new fund offer (NFO) for a fund of funds (FoF). Axis Global Equity Alpha Fund of Funds NFO opens on September 4 and closes on September 18. 

What is a Fund of Funds?

A fund of fund is a mutual fund scheme that invests in other mutual funds. In this case, Axis Global Equity Alpha FoF will invest in Schroder International Selection Fund Global Equity Alpha.

Investment Strategy

According to Axis MF, the fund will invest in equity and equity-related securities of companies worldwide by investing in the Schroder International Selection Fund Global Equity Alpha fund. This scheme also invests a part of its corpus in debt or money market-related instruments.

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About Schroder International Selection Fund Global Equity Alpha

The scheme aims to outperform a broad global index by 3% per annum (gross of fees) versus the benchmark. Schroders is a global investment manager based out of the U.K. It is present in about 35 locations spread across Europe, the Americas, Asia, the Middle East and Africa.

The top five holdings of the fund as on August 31, 2020, are:

Benchmark

The benchmark index of Axis Global Equity Alpha FoF is MSCI World (Net TR). The MSCI World Index invests in large and mid-cap companies across 20+ developed markets (DM) countries. The index claims to cover almost 85% of the free float-adjusted market cap in each country.

Fund Details

Axis Global Equity Alpha FoF will have regular and direct plans with growth and dividend options under each of the plans. The dividend option will have a dividend reinvestment facility and dividend payout option.

Here are other details of the fund:

Name of the FundAxis Global Equity Alpha Fund of Fund
Type of SchemeAn open-ended fund of fund scheme investing in Schroder International Selection Fund Global Equity Alpha
BenchmarkMSCI World (Net TR)
NFO DatesOpens on September 4, 2020, and closes on September 18, 2020
Fund ManagerHitesh Das and R. Sivakumar
Minimum Application Amount/Minimum Purchase AmountRs. 5000 and in multiples of Re. 1 after that
Minimum Additional InvestmentRs 100 and in multiples of Re 1 after that
Minimum Redemption AmountNo minimum number of units or units for redemption
Entry LoadNil
Exit LoadNIL If up to 10% units are redeemed or switched on or before 12 months from the date of allotment of units
1% of applicable NAV: If more than 10% of units is redeemed/switched on or before 12 months from the date of allotment of UnitNIL: If Units are redeemed/switched after 12 months from the date of allotment of units: Nil
PlansRegular Plan and Direct Plan
OptionsGrowth and Dividend Option, Dividend Reinvestment Option

SIP, STP, SWP Details

SIP

TypeMinimum InstallmentsMinimum Amount
Monthly SIP6Rs. 1,000 /- and in multiples of Re. 1/- after that per instalment
Yearly SIP3Rs. 12,000/- and in multiples of Re. 1/- after that per instalment

STP

TypeFrequencyMinimum InstallmentsAmount
DailyMonday to Friday61,000
WeeklyMonday to Friday61,000
FortnightlyAlternate Wednesday61,000
Monthly STP1st, 7th, 10th, 15th or 25th61,000
Quarterly STP1st, 7th, 10th, 15th or 25th23,000

SWP

TypeMinimum AmountDates of instalmentMinimum no. of SWP
MonthlyRs. 1,000/- and in multiples of Re. 1/- after that per instalment1/5/10/15/256
Quarterly4
Half-Yearly4
Yearly2

Fund Managers

Hitesh Das: Mr Das will be managing the foreign equities bit of this particular fund. In the last 10 years, he has served as an equity research analyst in different organisations. The other funds managed by Das at Axis MF are:

  • Axis Growth Opportunities Fund (Alongside Jinesh Gopani)
  • Axis ESG Equity Fund (Alongside Jinesh Gopani)

Sivakumar: Mr Sivakumar is the head of fixed income and products at Axis MF. Mr Sivakumar has served as a research analyst, fixed income fund manager, PMS- fund manager and few other positions across organisations. Other funds managed by Sivakumar include:

  • Axis Dynamic Bond Fund (Alongside Mr. Devang Shah)
  • Axis Children’s Gift Fund (Alongside  Mr. Ashish Naik)
  • Axis Triple Advantage Fund (Alongside Mr. Ashish Naik)
  • Axis Dynamic Equity Fund (Alongside Mr. Anupam Tiwari)
  • Axis Equity Saver Fund (Alongside Mr. Anupam Tiwari) 
  • Axis Equity Hybrid Fund (Alongside  Mr. Ashish Naik)
  • Axis Retirement Savings Fund (Alongside Mr. Jinesh Gopani)

Risk Rating of the Fund. 

As per the scheme information document, the fund is rated high risk. Please conduct the necessary due diligence before investing.

Happy Investing!

Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.

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