Axis AMC has launched ‘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. Overseas investments will be advised by Schroder (which is around 25% shareholder in Axis AMC).

Here are the key 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

> The NFO of Axis Special Situations Fund will open on December 4 and will close on December 18.

>The scheme will be benchmarked against Nifty 500 TRI.

“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 the needs of 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,” says Chandresh Kumar Nigam, MD & CEO, Axis AMC.

Mean-while, On Tuesday, India reported a significant drop in the number of fresh Covid-19 cases. Its case tally now stands at 9,499,710. The country’s death toll has mounted to 138,159. With 1,828,826 cases, Maharashtra has the highest number of coronavirus cases, followed by Karnataka 886,227, Andhra Pradesh 868,000, Tamil Nadu 783,319, and Kerala 608,357. Delhi recorded 4,006 fresh Covid-19 cases, taking the infection tally in the national capital to over 574,000, while 86 more fatalities pushed the toll from the disease to 9,260.

In the wake of reporting of two adverse events that occurred with the volunteers during the vaccine trial, the fear and hesitation among the people to take the vaccine are growing. However, the union health ministry on Tuesday said that the government doesn’t intend to immunize each individual with the Covid-19 vaccine.
World coronavirus update: The global tally of coronavirus cases stands at 64,167,294. While 44,426,026 have recovered, 1,485,649 have died so far. The US, the worst-hit country, has 14,102,948 cases, and 276,914 have died from the disease there. It is followed by India, which has 9,499,710 cases, Brazil (6,388,526), Russia (2,322,056), France (2,230,571).