The latest entrant to the Mutual Fund Industry is Axis Mutual fund which is promoted by Axis Bank.
It has launched Axis Equity Fund.
Axis Equity Fund is a plain vanilla Diversified Equity Fund and will be managed by Chandresh Nigam who was earlier with ICICI Prudential Mutual fund. The Fund is open for subscription from November 11 to December 8.
Axis Equity Fund would follow a bottom-up approach to choose its basket of 35-40 scrips, entirely comprising midcaps and large caps.
Axis Mutual Fund's maiden offering Axis Equity Fund New Fund Offer can be given a miss.
Not only the Fund is new, even the Fund House is new and yet to prove its worth.
The Fund is no different from the over 200 Diversified Equity Funds and does not merit attention. Let the Fund prove its worth before you commit your hard earned money to the fund.
Put your money to better use by investing in existing schemes which have proven their worth.
Best of luck,
Srikanth MatrubaiAlso visit http://equityadvise.blogspot.com
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thanks for your input, but dont you think that since it is first fund from Axis bank and having known this bank and the way it has fared in recent years, i think they would try to do best to prove themself before retail investors else Axis will loose all credibility, and will never be able to come up with other funds as anticipated, i have invested on my instincts and on basis of Axis Bank past performance, lets see how well it do.
ReplyDeleteYes, everyone does try to prove themselves, and Axis too may do well. But, I wonder why you should invest in Axis Equity Fund, when it does not offer anything different either in terms of investment theme or style.
ReplyDeleteI am not against the Axis AMC, but still I would like to see their performance (for at least 2 quarter), their style of investing and then take a call on committing on my hard earned money.