NFONEST

June 2021

Three NFOs of various hues are open at present and find a place in the June 2021 GEMGAZE.   

BOI AXA Bluechip Fund

Opens: June 8, 2021

Closes: June 22, 2021

BOI AXA Mutual Fund has launched its new fund offer, BOI AXA Bluechip Fund, an open ended mutual fund scheme. The primary investment objective of the scheme is to provide capital appreciation and/or dividend distribution by investing predominantly in large cap stocks. The scheme’s performance will be benchmarked against Nifty 50 Total Return Index. It will be managed by Mr. Dhruv Bhatia.

Axis Quant Fund

Opens: June 11, 2021

Closes: June 25, 2021

Axis Mutual Fund has launched an open-ended equity scheme, Axis Quant Fund. It is an open ended equity scheme mandated to follow a quantitative model. The investment objective of the scheme is to generate long-term capital appreciation by investing primarily in equity and equity related instruments selected based on a quantitative model. The scheme is mandated to invest 80% to 100% of its total assets in equity and equity related instruments of selected companies based on a quantitative model, upto 20% of its assets in other equity and equity related instruments. It can also hold upto 20% of its assets in debt and money market instruments and upto 10% in units issued by REITs & InvITs. The investment process of Axis Quant Fund will be based on a fundamental factor based approach with the aim of generating superior risk adjusted returns compared to the benchmark. The factors employed are the ones that have a strong academic basis and / or are considered central by fundamental investors in their process. The universe would be screened using quantitative measures like data availability, liquidity etc. and then subsequently several factors would be used to evaluate the stocks’ attractiveness from a risk and return perspective. Axis Quant Fund’s performance will be benchmarked against S&P BSE 200 TRI (Total Return Index). The fund will be managed by Mr Deepak Agarwal and Mr Hitesh Das (for foreign securities).

HDFC Banking and Financial Services Fund

Opens: June 11, 2021

Closes: June 30, 2021

HDFC Mutual Fund launches HDFC Banking and Financial Services Fund. The investment objective of the fund is to provide long-term capital appreciation by investing predominantly in equity and equity-related instruments of companies engaged in banking and financial services. The scheme will benchmark its performance to the NIFTY Financial Services TRI. The fund is managed by Mr. Anand Laddha (equity and derivative research and sales) and Mr. Sankalp Baid (overseas investments).

Axis Nifty 50 Index Fund, NJ Flexi Cap Fund, ICICI Prudential Metal and Energy FOF, Axis AAA Bond Plus SDL ETF – 2026 Maturity Fund of Fund, NJ Dynamic Asset Allocation Fund, Axis 2050 Gilt Fund of Fund, Axis Asset Allocator Fund, Aditya Birla Sun Life NASDAQ 100 FOF, Nippon India CPSE Bond Plus SDL G Sec Index Fund, Nippon India Nifty Auto ETF. Nippon India CPSE Bond Plus SDL Index Fund and DSP Nifty 50 Equal weight ETF are expected to be launched in the coming months.