Page 17 - Banking Finance October 2022

MUTUAL FUND

cap stocks. The fund will be managed Investors can invest a minimum Alliance Capital's Indian mutual fund
by Mr. Sudhir Kedia - Fund Manager - amount of Rs 5,000 during the NFO business.
Equity and Mr. Ravi Gopalakrishnan, period. The fund will be managed by
The company has joined entities like
CIO - Equity. The benchmark for the Pankaj Tibrewal and Abhishek Bisen.
Zerodha, Samco Securities and Bajaj
scheme is the Nifty 500 TRI Index.
Kotak Business Cycle Fund will take into Finserv that received Sebi's go-ahead
"The support of more than 5800 Dis- account various economic parameters to launch mutual fund operations. Be-
tribution Partners and the faith re- (GDP growth, current account deficit, sides, half a dozen companies are
posed by 70,000 + Investors has far corporate profit growth trend, infla- awaiting Sebi's nod to enter into the
exceeded our expectations. It is now tion etc.), investment indicators (in- mutual fund space.
our turn to exceed their expectations. vestment in capex, capacity utilisation,
The fund will aim to live up to its credit growth, etc.), business and lead- Axis Mutual Fund laun-
tagline of Optimizing Opportunities by ing economic indicators (business con-
ches Silver ETF and Silver
seeking to manage the Risk-Reward fidence index, purchasing manager in-
trade-off in the investors' favour and dex, etc.) while picking stocks. FoF
deliver appropriate wealth creation
Speaking at the launch of the fund, Axis Mutual Fund has launched the Axis
over the medium term," said Sunil
Nilesh Shah, Group President and Man- Silver ETF, an open ended scheme rep-
Subramaniam, Managing Director,
aging Director, Kotak Mahindra Asset licating domestic price of Silver, and
Sundaram Mutual.
Management, said, "Kotak Business Axis Silver Fund of Fund, an open ended
He also attributed the success to the Cycle Fund provides a good opportunity fund of fund scheme investing in units
high octane multi-media campaign for investors to diversify their equity of Axis Silver ETF. Both the funds will
across Print, Digital and OOH of the portfolio as there are equity stocks be benchmarked against the LBMA Sil-
'Laughing Buddha' creative. The prod- across categories, which tend to do ver daily spot AM fixing price.
uct video, which aptly conveyed the better at various stages of the Business
Pratik Tibrewal, Fund Manager, Com-
fund's aim to choose the right cap curve Cycle. Even during challenging times of
modities, will be managing the Axis
mix across time to meet investor economic slowdown, these companies
Silver ETF and the minimum application
needs, received over 19 million+ views. have managed to navigate the chal-
amount would be Rs 500 per applica-
The Sundaram Mutual website re- lenges and perform well across various
tion and in multiples of INR 1/- there-
ceived a record 1.5 million visitors over economic parameter."
after. Aditya Pagaria, Fund Manager,
the course of the NFO and resulted in
Fixed Income will be managing the Axis
roughly half of the collections being
Helios Capital gets Sebi's Silver FoF and the minimum application
digital.
in-principle approval to amount be Rs 500 and in multiples of
Re 1/- per application in the ETF and
Kotak Mutual Fund laun- launch mutual fund busi-
Rs 5,000 and in multiples of INR 1/-
ches Kotak Business Cycle ness thereafter in the FoF.
Fund Helios Capital has received capital The fund house said in a press release
markets regulator Sebi's in-principle that Silver in its physical form may pose
Kotak Mutual Fund has launched Kotak
approval to launch a mutual fund busi- challenges with respect to corrosion
Business Cycle Fund, an openended
scheme following business cycles based ness. Helios Capital Management PTE over time, safety, purity of the metal,
Limited, which is the business of port-
on investing themes. The fund would liquidity risk etc. Investors can opt to
folio management services, applied for
invest in stocks and sectors of the com- gain exposure to the precious metal
a mutual fund license with the Securi-
panies that can navigate through vari- via an ETF (Exchange Traded Fund) that
ties and Exchange Board of India (Sebi)
ous economic cycles. The term "Busi- aims to generate returns in line with
in February 2021.
ness Cycle" refers to various stages the performance of physical silver in
where a company or a specific sector After quitting Alliance Capital almost domestic prices, subject to tracing er-
undergoes a period of expansion, mod- 20 years ago, Arora is re-entering the ror. Investors who do not have a Demat
eration and contraction in the busi- 43-player mutual fund industry. He account can gain exposure by invest-
ness. was the Chief Investment Officer of ing in Silver FoF (Fund of Fund).

BANKING FINANCE | OCTOBER | 2022 | 17