Axis Mutual Fund has announced the launch of their new fund offer –Axis Business Cycles Fund, an open ended equity scheme following business cycles based investing theme. The NFO opens on 2nd February 2023 and closes on 16th February, 2023. The scheme will be managed by Mr. Ashish Naik. The new fund will track the NIFTY 500 TRI and the minimum investment amount would be Rs. 5000 and in multiples of Rs. 1/- thereafter.
The fund will have a cycle-driven portfolio. During slowdowns, or uncertain times, the portfolio would tilt to counter cyclical themes or companies that would be in a better position to navigate tough times. Contrary to the bottom up approach to investing, this fund will employ a hybrid approach to investing. Further, the fund will follow a dynamic approach with no market bias.
It will have the flexibility to be more aggressive in terms of overweight and underweight across sectors. It means that when we find an opportunity in a sector, we will try to build a bigger position in that sector showing our high conviction. Equally important would be to try to cut our weightages as the investment story plays out, and we move onto the next sector with an imminent favorable upcycle. On the launch of the NFO, Mr. Chandresh Nigam, MD & CEO, Axis AMC, said “As a fund house that believes in leveraging market opportunities in a disciplined manner, we believe that the Axis Business Cycles Fund will be a notable add on in an investor’s portfolio.”