Axis Mutual Fund eyes ₹3 lakh crore AUM by March, expects ₹2,500 crore from new fund

If 10% of the investment is redeemed/switched within 12 months from the date of allotment there will be no exit load, while for the remaining investments, there will be a 1% charge, B Gop Kumar, managing director & chief executive of the fund house said.

On the overall AUM target for the year, Kumar said the growth has been very good for the company and hopes to close the year with ₹2.8-3 lakh crore in AUM driven by SIPs and fixed-income funds.

On the new fund offer, Raghav Iyengar said they have set an internal target of collecting at least ₹2,500 crore during the offer period. Kumar said the fund will endeavour to harness the potential of the country's growing manufacturing theme, which of late has been gaining increased traction.

The fund managers see increased scope for exports to the US and Europe when it comes to capital goods and power section equipment. The country is transitioning rapidly, thanks to significant government impetus, favourable policy frameworks, and improving cost competitiveness, said Ashish Gupta, a chief investment officer.