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 Matrubai
Also visit http://equityadvise.blogspot.com