Axis AMC, UTI Mutual Fund to launch equity NFOs, aim wide investments

Axis Special Situations Fund will tap domestic and global markets; UTI Small Cap Fund will invest in small cap stocks.

Two equity new fund offerings (NFOs) will hit the market in December. Axis AMC will launch Axis Special Situations Fund, an open-ended equity scheme that will invest in domestic and global markets as well as across the market cap spectrum. It will be benchmarked to Nifty 500 TRI.

The overseas investments will be advised by Schroder Investment Management based on their disruption philosophy. The NFO will remain open for subscription from December 4-18.

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