Axis Mutual Fund has announced the launch of its Axis Consumption Fund, a thematic equity scheme targeting India’s burgeoning consumption sector. With the New Fund Offer (NFO) open from August 23 to September 6, 2024, the fund offers investors an opportunity to tap into India’s rapidly evolving consumer market, driven by rising incomes, urbanization, and a growing middle class.
The Axis Consumption Fund, benchmarked against the NIFTY India Consumption TRI, will be managed by a team of experienced fund managers, including Mr. Hitesh Das, Mr. Shreyash Devalkar, and Ms. Krishnaa Narayan. The fund seeks to build a diversified portfolio encompassing sectors like FMCG, auto, healthcare, and realty, reflecting India’s structural shifts in consumer behavior.
Mr. Ashish Gupta, Chief Investment Officer at Axis AMC, noted, “As India’s consumption patterns evolve, this fund is positioned to capture the dynamic growth in sectors linked to rising consumer aspirations.”In Guwahati, the fund’s emphasis on urbanization and formalization aligns well with the city’s rapid growth and increasing consumer demand. Guwahati’s expanding retail sector, alongside rising incomes, makes it a significant player in India’s broader consumption narrative.
