Axis Consumption Fund NFO review

Axis Consumption Fund NFO opened for subscription on August 23 and will remain open to the public until September 6. Here's a quick look at the details of the Axis Consumption Fund NFO. Axis Consumption Fund NFO at a glance Fund name Axis Consumption Fund Type of fund Actively-managed thematic fund Fund manager(s) Shreyash Devalkar, Hitesh Das and Krishnaa Narayan Exit load If an investor withdraws within 12 months from the date of allotment, 1 per cent exit load on 90 per cent of the investment.  Tax treatment 20 per cent tax if units are sold within a year. If the units are sold after a year, 12.5 per cent tax will be applicable, provided the gains exceed Rs 1.25 lakh. Axis Consumption Fund NFO: Investment strategy As the name suggests, the new fund will actively look to invest in companies engaged in consumption and consumption-related or allied sectors. This will be the 22nd active fund investing in consumption-only companies. The existing consumption funds manage assets worth Rs 28,048 crore as of July 31, 2024, with Aditya Birla Sun Life India GenNext being the largest fund in this space. The five largest consumption funds are as follows: Aditya Birla Sun Life India GenNext: Rs 5,786 crore worth of net assets Mirae Asset Great Consumer: Rs 4,069 crore worth of net assets SBI Consumption Opportunities: Rs 2,679 crore worth of net assets ICICI Prudential Bharat Consumption: Rs 2,613 crore worth of net assets Tata India Consumer: Rs 2,247 crore worth of net assets Performance of consumption funds Consumption funds have been head and shoulders above the broader market. If you consider the median returns of the seven funds with a five-year history, it has beaten the Nifty 500 TRI a whopping 87 per cent of the time. This is based on five-year daily rolling returns. What's more, these