Indian equity mutual funds have lured billions of dollars in inflows over the last couple of years amid a retail-investing boom
Axis Mutual Fund on Wednesday launched an exchange-traded fund focused on technology stocks.
Axis Special Situations Fund will tap domestic and global markets; UTI Small Cap Fund will invest in small cap stocks.
The outflows seen in March are a quarterly and annual phenomenon whereby some institutional and corporate investors redeem and re-invest at the start of the new quarter/year, says Sivakumar
The strategy has paid off for Axis. Its largest fund, Axis Long Term Equity Fund, has delivered an annual return of over 12 per cent over the past five years, beating 96 per cent of peers
The fund is targeting investments (through structured debt route) in the top-eight cities of the country
It has hired real estate funds veteran Balaji Rao to head the business and build a core team of eight to 10 people in the investment and asset management verticals