Axis Mutual Fund launches

 Axis Mutual Fund launches ‘Axis Special Situations Fund’

 

The Indian equity market has witnessed some of the most dramatic swings since the beginning of the pandemic, hitting unprecedented highs and lows. The pandemic has also been notable for how it has forced all of us to embrace significant change in our daily lives and caused innovation from companies responding to the stay at home/ work from home economy. As business models reconfigure themselves, there is also an increasing acceptance of technology and the transformative role that it is playing across multiple sectors.

The changes wrought by the pandemic have only accelerated the disruptive trends that have been around us both in India and globally and we fully expect these trends to sustain in the post pandemic economy as well. A combination of government push, global investments and domestic ingenuity and focus on low cost, wide adoption models have already seen us coming up with unique transformative solutions in India such as Aaadhar, UPI etc.

So while disruption and the resulting innovation itself is not new and we have seen multiple waves of it through history - right from the industrial revolution – what is different this time is the pace of change and the presence of well-funded disruptors in every sector that are up-ending the traditional ways of doing business.

 

What does this mean for investors?

At one glance all this change around us can seem unsettling, however there is also a significant opportunity for us as investors to benefit from these changes. Financial markets are usually slow to recognize disruptive innovation and the impact of unanticipated change is often overlooked by investors. This can lead to a significant gap between market expectations and the actual growth potential of the disruptive change.

 

Axis Special Situations Fund is a unique attempt by Axis AMC to create a dedicated equity fund that focuses and invests in these opportunities both across India and global markets.

 

Axis Special Situations Fund

Axis AMC has been at the forefront of product innovation and creating a robust investment process that has the potential to deliver long term performance for its investors. While Axis has a number of large successful traditional equity strategies, good quality thematic funds can complement these from an investor’s perspective.

 

Thematic funds target specific themes or segments of the market and allow investors greater ability to access those themes (such as sustainability or disruption) that they strongly believe in or which can complement their traditional equity allocations.

 

Axis AMC is thus excited to announce the launch of the Axis Special Situations Fund, an open ended equity scheme that follows a special situations theme focusing on investing in disruptive growth opportunities. The fund will allow investors to capture opportunities across the entire disruption value chain. Further the fund will be investing across both domestic and global markets as well as across the market cap spectrum – thus allowing the investors to participate in relevant opportunities in any of the segments of the market. Overseas investments will be advised by Schroder* (which is around 25% shareholder in Axis AMC).

 

Salient Features of Axis Special Situations Fund

·         The fund offers Indian investors an opportunity to invest in stocks that are participating in or enabling disruption

·         Its multi-sector and multi-cap asset allocation strategy along with exposure to global equities ensures that it is beneficiary to not only the disruptor but also companies which are adapter or enablers of disruption

·         Overseas investments will be advised by Schroder Investment Management Limited based on their disruption philosophy

Mr. Chandresh Kumar Nigam, MD & CEO, Axis AMC said, ‘Axis AMC has always tried to bring innovative new fund ideas for our investors that we believe can help in long term wealth generation. Our product development is backed by our unique and time tested philosophy of responsible investing with an unflinching focus on quality. The introduction of the Axis Special Situations Fund also continues our journey towards creating an industry leading asset management platform that can service needs for all our investors. As the world transforms around us led by ever accelerating technological change and innovation, investors need to be able to allocate to and benefit from this theme – whether in Indian or global markets’.

 

The new fund offers (NFO) opens for subscription from December 4^th to 18^th 2020.

Bank of Baroda launches paperless

Bank of Baroda launches paperless ‘INSTA CLICK SAVINGS ACCOUNT’

·         100% digital and self-assisted online savings account

·         Digital KYC and Aadhar based OTP authentication

·         Real time activation of S/B account

Bank of Baroda, India’s third-largest public sector bank, has launched ‘Insta Click Savings Account’, a 100% paperless digital self-assisted online savings account, for all its customers.

Bank of Baroda has been working towards continuously creating innovative digital offerings for customers; Insta Click Savings Account is one such outcome of the Bank’s efforts to transform digitally and make banking a safer and seamless experience for a customer, from the comfort of their homes.

The Insta Click Savings Account uses a new form of digital KYC and Aadhar based OTP authentication of the customer, which can be operated from the bank's website, through Mobile phone, IPad, Laptops, and PC. The account is activated in real-time, which means the customer can start transacting, using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.

The product also offers the customers an option to subscribe to a wide range of digital channels like Mobile Banking, Internet Banking, UPI, and Debit Card.

Speaking on the product, Shri. Sanjiv Chadha, MD & CEO, Bank of Baroda, said, “Bank of Baroda recognises that banking has transformed over the last few months. The needs of the customers have evolved, driving us to create innovative products to suit their requirements. We are working on digitisation of all our process and intend to be 100% paperless by 2023. The only way to ensure our customers can have a safe and secure banking experience without having the need to step out of their homes is with adoption of digital products and services.”