Axis AMC eyes to collect Rs 1,500-cr from global innovation fund of funds

Axis Mutual Fund is looking at collecting at least Rs 1,500 crore from investors through its just-launched global fund of funds, making it the AMC‘s fourth international fund that collectively manage around Rs 3,000 crore of AUM. The new international fund of funds will invest in the Schroder international selection fund global disruption, which is a global equity fund that aims to provide capital growth by investing in companies worldwide that benefit from disruption.

Disruptive growth is an opportunity for investors to capture significant value creation over time it focuses on a broad set of sub-themes, including fin-tech, e-commerce, environmental, healthcare etc, the company said.

We plan to collect at least Rs 1,500 crore from the new global innovation fund of funds. This is our fourth international fund, which together manage around USD 400 million or Rs 3,000 crore of assets of around 1 lakh investors, Chandresh Kumar Nigam, the managing director and chief executive of Axis AMC told on Thursday.

While around 45 fund houses manage over Rs 31 lakh crore of domestic funds, there are over 100 international fund schemes from a dozen-odd player with an AUM of around USD 3 billion now, which was only around USD 1 billion three years ago, he said.

By investing in this new fund of funds, which open on May 10 and closes on 21, domestic investors get an opportunity to participate in a globally diversified equity portfolio that can complement their domestic allocation.

Schroders international selection fund global disruption is an equity fund that aims to provide long-term capital growth by investing in companies worldwide that benefit from disruption as witnessed in sectors like environment, automation, healthcare, fin-tech, communication, food & water, new consumer, digitalisation, and e-commerce.

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Thematic products like this new fund allow investors to participate in important structural themes in a targeted manner. Companies that are bringing about and benefiting from these technological disruptions have the potential to generate high growth, Nigam said.

Schroders is a leading global asset manager with assets of over 526 billion pounds under management across asset classes from 37 countries. It is also part of the joint venture that owns Axis Asset Management Company.

On the impact of the AMC market from the second wave of the pandemic Nigam said, over time investors have more mature and have developed a long-term view now therefore if at all the market falls like it did last year during the first wave, it will reverse the losses as it did last year.


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