
On August 16, 2021, Axis Mutual Fund announced that Axis Equity Advantage Fund- Series 1, a closed-end fund, would merge with Axis Flexi Cap Fund, with effect from September 30, 2021, i.e., on the maturity date of the former scheme. We decided to explore the impact of the merger of this fund with the flexi-cap fund, which is one of our recommended funds in the growth category. According to the AMC, the proposed merger is in line with the similar investments strategy and stock selection process and aimed at enabling investors to continue their equity investments with the added liquidity advantage of an open
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