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Axis Mutual Fund has launched Axis Consumption Fund, an open-ended equity scheme following consumption theme. The NFO opens for subscription on August 23, 2024 and closes on September 06, 2024. The Entry Load is not applicable for the scheme. The Exit Load will be nil - For 10% of investments if redeemed / switched-out within 12 months from the date of allotment and 1% - For remaining investments if redeemed / switched-out within 12 months from the date of allotment. There will be no exit load if redeemed / switched-out after 12 months from the date of allotment. The minimum subscription amount is Rs 100 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked with Nifty India Consumption TRI and its fund managers are Shreyash Devalkar, Hitesh Das and Krishnaa Narayan.

The investment objective of the scheme is to provide long term capital appreciation from an actively managed portfolio of equity and equity related securities of companies engaged in consumption and consumption related sector or allied sectors.