MUMBAI: At a time when domestic capital markets are witnessing volatility, Axis Mutual Fund is trying to offer a mix of global and domestic stock portfolios to Indian mutual fund investors through a new fund that opens for subscription next month.
Axis Growth Opportunities Fund intends to invest around 35 per cent of its corpus in global stocks, predominantly large cap, and rest in Indian securities, large as well as midcaps, said Chandresh Kumar Nigam, CEO, Axis AMC.
“We are anyway consuming global products … why not invest in them,” Nigam said, pointing out that a Flipkart or a Hotstar consumer doesn’t get a chance here to own the shares. Diversification with global securities also can optimise returns and reduce risk, the fund house said.
Axis would design the global portfolio with the help of its partner Schroder Investment Management. Nigam said there was no plan to hedge for any currency risk on global investments. Axis Mutual Fund currently has assets under management of around Rs 85,000 crore.