After conducting a market research, the company will select 25 most progressive companies and will ensure the diverse investment across sectors, according to the company.
Commenting on the launch of new funds, Axis Asset Management head investments Chandresh Nigam was quoted by Business Standard as saying, "We believe sustainable business performance drives stock returns. Picking business cycles therefore is important."
Axis Asset Management managing director and CEO Axis Asset Management said, "The key feature of the fund is the fact that we will attempt to nurture these companies over their business cycle without being unduly concerned by short term market volatility. It is thus ideal for patient and long term equity investors with an investment time horizon of more than 5 years."
The new fund offer closes for subscription on 25 June 2012 and investors can either invest through monthly installments of INR1000 or a one-time investment of INR5000 ($89.46).
Axis AMC, a wholly owned subsidiary of Axis Bank manages assets of over INR90bn ($1.61bn) in over 410,000 investor accounts.
