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Axis Mutual Fund (MF) has launched the Axis Global Innovation Fund of Fund, an open-ended fund of fund scheme investing in Schroder International Selection Fund Global Disruption. The NFO opens for subscription on May 10 and closes on May 21, 2021. The Entry is not applicable for the scheme. If redeemed / switched-out within 12 months from the date of allotment the exit load will be nil for 10% of investment and 1% exit load for remaining investment. If redeemed/switched out after 12 months from the date of allotment nil. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked to the performance to MSCI AC World (Net TR) and its fund managers are Hitesh Das and R. Sivakumar.

The investment objective of the Scheme is to provide long term capital appreciation by predominantly investing in units of Schroder International Selection Fund Global Disruption, an equity fund that aims to provide capital growth by investing companies worldwide which benefit from disruption and to invest a part of corpus in debt, money market instruments and / or units of liquid schemes in order to meet liquidity requirements from time to time.