Published: 28th Aug 2024
By: Value Research
Axis Mutual Fund recently launched its latest fund offering – the Axis Consumption Fund. It will be an actively-managed fund and the 22nd actively managed consumption fund. The NFO (new fund offer) opened for subscription on August 23, 2024, and will remain available until September 6, 2024.
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.
The fund will seek to actively invest in companies engaged in consumption and consumption-related or allied sectors.
The Aditya Birla Sun Life India GenNext is the largest fund in this space, with net assets worth Rs 5,786 crore. It is followed by Mirae Asset Great Consumer (net assets: Rs 4,069 crore), SBI Consumption Opportunities (net assets: Rs 2,679 crore), ICICI Prudential Bharat Consumption (net assets: Rs 2,613 crore) and Tata India Consumer (net assets: Rs 2,247 crore).
A glance at the above graph shows that consumption funds have performed impressively. If you take into account the performance of seven such funds with a five-year history, consumption funds have outperformed the broader markets 87% of the time. Further, during periods of downturn, these funds fell less than the Nifty 500 TRI.
Shreyash Devalkar has been overseeing six actively-managed funds at the AMC. With the exception of Axis Growth Opportunities and Axis ELSS Tax Saver, all his funds have outperformed their respective categories since he took over.
Returns data as of Aug 25, 2024. Ranking category as per Value Research.
<!--td {border: 1px solid #cccccc;}br {mso-data-placement:same-cell;}-->Fund schemeDate managed fromReturn (%) since heldCategoryCategory median return (%)Category rankAxis BluechipNov 23, 201617.77Equity: Large Cap16.8914/70Axis MidcapNov 23, 201623.32Equity: mid cap21.666/21Axis MulticapMar 01, 202352.32Equity: multi cap46.423/18Axis ESG Integration StrategyAug 04, 202334.46Equity: Thematic-ESG33.814/10Axis Growth OpportunitiesAug 04, 202342.12Equity: Large & MidCap44.0319/28Axis ELSS Tax SaverAug 04, 202332.24Equity: ELSS38.8233/38