AXIS Flexi Cap Fund (G)

ICICI Prudential Balanced Advantage Fund:

Regular Plan – Monthly IDCW: 0.07

Direct Plan – Monthly IDCW: 0.07

ICICI Prudential Equity & Debt Fund:

Regular Plan – Monthly IDCW: 0.16

Direct Plan – Monthly IDCW: 0.16

Change in Exit Load:

Invesco India Balanced Advantage Fund – Regular IDCW Option & Direct IDCW Option: 0.15

Details of Mr. Mohit Bhatnagar

Age: 45 years

Designation: Senior Vice President - Sales

Qualification: B.com, PGDBM,

Axis Mutual Fund has launched a new open-ended equity scheme focused on India's burgeoning consumption sector. The Axis Consumption Fund is now open for subscription, offering investors the chance to capitalize on the country's growing consumer market. The new fund offer or NFO of the scheme will close on September 6.

The fund will be managed by Hitesh Das, Shreyash Devalkar, and Krishnaa Narayan. It aims to provide a diversified portfolio that reflects the broad spectrum of India's consumption-driven sectors, such as FMCG, auto, telecommunication, healthcare, realty, and more.

The fund's investment strategy will be focused on quality-focused investing, aiming to capture the emerging trends within the consumer story. By actively managing its portfolio, the fund seeks to provide long-term capital appreciation through investments in equity and equity-related securities of companies engaged in consumption and related sectors.

Investors can participate in the Axis Consumption Fund with a minimum investment of Rs 100 and in multiples of Re 1 thereafter. Minimum investment amount for monthly SIP is Rs 1,000 with minimum six installments. The fund will follow a bottom-up approach, carefully selecting stocks based on their individual merits and potential for growth within the consumption sector.

With its thematic focus and experienced management team, the Axis Consumption Fund presents a compelling opportunity for investors looking to benefit from India's expanding consumer market. By investing in this fund, investors can potentially gain exposure to the long-term growth drivers of the Indian economy and achieve substantial returns over time.

Bandhan Conservative Hybrid Fund:

Regular Plan – Monthly IDCW: 0.0726

Direct Plan – Monthly IDCW: 0.0818

Bandhan Equity Saving Fund:

Regular Plan – Monthly IDCW: 0.075

Direct Plan – Monthly IDCW: 0.082

Bandhan Arbitrage Fund:

Regular Plan – Monthly IDCW: 0.0670

Direct Plan – Monthly IDCW: 0.0710

Deepak Shenoy, chief executive officer of Capitalmind, commented on the approval: "We are excited to introduce innovative investing approaches tailored to the evolving needs of Indian mutual fund investors. Our goal is to serve the rapidly growing cohort of 4.5 crore mutual fund investors with exceptional products and services while contributing to the growth of the overall Mutual Fund Industry. We look forward to playing a key role in the financialization of India by adding value to the rapidly growing Rs 64 lakh crore mutual fund industry."

Capitalmind's journey began as a humble blog, where Deepak Shenoy shared his insights on investing and personal finance. The blog evolved into a thriving community, offering equity research, model portfolios, and other valuable resources. In 2017, Capitalmind launched its PMS, followed by an Alternative Investment Fund (AIF) in 2024.

"The trifecta of increased investor participation, inflows from active investors, and a booming economy provides strong growth tailwinds to the mutual fund industry," added Shenoy.

As of March 31, 2024, India boasts a staggering 74.6 crore PAN card holders, yet only 4.5 crore unique mutual fund investors, indicating significant untapped potential. The industry has demonstrated rapid growth, with assets under management (AUM) increasing at a 24% compounded annual growth rate (CAGR) over the past five years.

Capitalmind joins a growing list of asset management companies based in Bengaluru, including Zerodha Fund House, Groww Mutual Fund, and Navi Mutual Fund. The Indian mutual fund industry is highly competitive, with 43 players and more vying to enter the space, managing a total of Rs 65 trillion in assets.

DSP Equity & Bond Fund - Regular Plan – IDCW & Direct Plan – IDCW: 0.200 each.

HDFC Balanced Advantage Fund:

Regular Plan – IDCW: 0.250

Direct Plan – IDCW: 0.250

Regular Plan – Monthly IDCW Option: Rs 0.0712

Direct Plan – Monthly IDCW Option: Rs 0.0807

HSBC Aggressive Hybrid Fund:

Regular Plan – IDCW: 0.210

Direct Plan – IDCW: 0.240

HSBC Balanced Advantage Fund:

Regular Plan – IDCW: 0.130

Direct Plan – IDCW: 0.150

HSBC Midcap Fund:

Regular Plan – IDCW: 7.500

Direct Plan – IDCW: 7.500

HSBC Business Cycle Fund:

Regular Plan – IDCW: 0.2500

Direct Plan – IDCW: 0.2500

Change in Fund Managers of the Schemes:

Axis Arbitrage Fund - Regular Plan - Monthly IDCW Option: 0.05

Axis Arbitrage Fund - Direct Plan - Monthly IDCW Option: 0.05

Axis Equity Saver Fund - Regular Plan - Monthly IDCW Option: 0.09

Axis Equity Saver Fund - Direct Plan - Monthly IDCW Option: 0.09

Axis Equity Hybrid Fund - Regular Plan - Monthly IDCW Option: 0.10

Axis Equity Hybrid Fund - Direct Plan - Monthly IDCW Option: 0.10

Axis Multi Asset Allocation Fund - Regular Plan - Monthly IDCW Option: 0.15

Axis Multi Asset Allocation Fund - Direct Plan - Monthly IDCW Option: 0.15

Baroda BNP Paribas Aggressive Hybrid Fund – Regular Plan – IDCW Option: Rs 0.14 per unit.

Baroda BNP Paribas Aggressive Hybrid Fund – Direct Plan – IDCW Option: Rs 0.15 per unit

Baroda BNP Paribas Multi Cap Fund – Regular Plan – IDCW Option: Rs 0.45 per unit.

Baroda BNP Paribas Multi Cap Fund – Direct Plan – IDCW Option: Rs 0.47 per unit.

LIC MF Aggressive Hybrid Fund – Regular Plan - IDCW Option: 0.10

LIC MF ELSS Tax Saver Fund – Regular Plan - IDCW Option: 0.10

LIC MF ELSS Tax Saver Fund – Regular Plan - IDCW Option: 0.10

DSP ELSS Tax Saver Fund - Regular Plan – IDCW Option: 0.660

DSP ELSS Tax Saver Fund - Direct Plan – IDCW Option: 0.660

The fund aims to replicate the BSE Healthcare Index by investing in its constituent securities in the same proportion as their weightage in the index. This approach seeks to deliver returns that closely correspond to the total return of the BSE Healthcare Index, subject to tracking errors.

The BSE Healthcare Index provides exposure to companies listed on the BSE AllCap Index and classified as members of the healthcare sector. The index is weighted based on market capitalization, with a breakdown of 47.6% in largecaps, 29.1% in midcaps, and 23.3% in smallcaps. The index is rebalanced annually in September. Individual stock holdings is capped at 33%, while the combined holdings of the top three stocks does not exceed 63%.

The minimum investment amount is Rs 1,000 for lump-sum investments and Rs 100 for Systematic Investment Plans (SIPs).

The fund will allocate 95-100% of its assets to securities included in the BSE Healthcare Index, including stocks and index derivatives. The remaining 0-5% may be invested in debt and money market instruments.

The BSE Healthcare Index covers a broad range of companies within the healthcare sector, including pharmaceuticals, hospitals, diagnostics, medical equipment and supplies, and biotechnology.

The healthcare industry in India has been experiencing significant growth, driven by factors such as an aging population, increasing prevalence of lifestyle diseases, and rising affordability. Between 2008 and 2022, the industry grew at an approximate CAGR of 16%.

Over the past 3 and 5 years, the BSE Healthcare Index has consistently outperformed the Nifty 50 Index. The average rolling returns for the BSE Healthcare TRI index have been 15.97% for 5 years and 14.89% for 3 years, compared to 12.84% and 12.52% for the Nifty 50, respectively.

Franklin India Focused Equity Fund:

Regular Plan – IDCW Option: 3.350

Direct Plan – IDCW Option: 4.00

Franklin India Debt Hybrid Fund:

Regular Plan – Monthly - IDCW Option: 0.085

Direct Plan – Monthly - IDCW Option: 0.095

The New Fund Offer (NFO) for the fund is open from August 21st to September 4th. The fund seeks to deliver returns that closely track the Nifty 500 Equal Weight Index.

Unlike traditional market-cap weighted indices, which give larger companies a greater influence, the Nifty 500 Equal Weight Index assigns the same weight to every constituent stock, regardless of its size. This approach aims to reduce concentration risk and offer a more diversified portfolio.

The index is divided into three segments: Large Cap (20%), Mid Cap (30%), and Small Cap (50%). The higher allocation to Mid and Small Cap stocks can potentially capture additional returns during periods of favorable market conditions.

The fund's constituents will be reviewed and adjusted twice a year, typically in March and September, to ensure alignment with the underlying Nifty 500 index. To maintain equal weighting, the fund's individual stock positions will be rebalanced quarterly (March, June, September, and December).

The Nifty 500 Equal Weight TRI index has demonstrated superior performance compared to its market-cap weighted counterpart, the Nifty 500 TRI. Over the past five years, the equal weight index achieved a CAGR of 30.6%, while the Nifty 500 TRI returned 22.3%. Similarly, over the past three years, the equal weight index delivered a CAGR of 25.9%, outperforming the Nifty 500 TRI's 21% return.

The new fund offer for the DSP Nifty Top 10 Equal Weight Index Fund and ETF opened on 16 August 2024, and will remain open for subscription until 30 August 2024.

The fund replicates the Nifty Top 10 Equal Weight Index, ensuring that it holds the same stocks in identical weights. Each company in the portfolio is allocated an equal 10% weight, which is rebalanced quarterly to maintain this allocation. Additionally, the portfolio undergoes semi-annual adjustments to account for any changes in the index, such as the addition or removal of stocks.

The DSP Nifty Top 10 Equal Weight Index Fund provides investors with a concentrated portfolio of large-cap companies, which are known for their durability, strong financial health, and high liquidity. This product is particularly appealing to investors seeking to enhance or rebalance their large-cap exposure without the biases that often come with active fund management. As a passive investment vehicle, it offers a relatively low-cost option with a lower expense ratio compared to actively managed large-cap funds.

The fund is well-suited for long-term investors looking to benefit from stable, durable businesses and those who aim to stay invested throughout market cycles. It also caters to cost-conscious investors, providing a passive investment approach that leverages the power of compounding over time.

Historical performance data supports the strategy behind this fund. The Nifty Top 10 Equal Weight Index has outperformed the Nifty 50 and Nifty 500 indices over the long term and on a rolling basis across various time periods. Specifically, it has outperformed the broader market in 9 out of the past 16 years. Despite recent underperformance over the last four years compared to other indices and active funds, historical trends indicate that when the three-year historical alpha is negative, the forward alpha for the Nifty Top 10 Equal Weight Index tends to be positive, suggesting potential for a rebound.

The portfolio quality is another strong point, with the Nifty Top 10 Equal Weight Index showing a return on equity that is 1.5 times higher than that of the Nifty 500 Index. Notably, in FY 2024, about 49% of the profits of Nifty 50 stocks were contributed by the companies within the Nifty Top 10 Equal Weight Index.

Anil Ghelani, CFA, Head – Passive Investments & Products, DSP Mutual Fund, stated, "While we have seen increasing level of interest in small and mid-cap stocks, the very large and mega cap stocks appear to be trading at relatively more attractive valuations. Sound investing principles suggest that it is always better to invest where there is a relatively lower valuation and margin of safety. Hence, we are considering an index which will have the largest ten stocks, in an equal weight strategy. The Nifty Top 10 Equal Weight Index can be part of long-term portfolios as it provides exposure to the largest companies which can help to reduce drawdowns during downturns and can also generate better returns over the long term."