Bharti AXA Equity Fund is an open-ended diversified multi- cap equity scheme with an objective to generate income and long term capital appreciation through a diversified portfolio of mainly equity and equity-related securities including equity derivatives up to 50 per cent of its net asset of the portfolio, across all market capitalisations.The fund is also available in the eco plan to the retail investors for investment below two lakhs, wherein the total recurring expense per annum is 2.25 per cent as all communications with investors will be in electronic form, reducing paper consumption, while for regular plan it is 2.50 per cent.
The fund will use the top down approach to identify the theme/sector which has potential to outperform,
then the fund will do the final stock. selection based on valuations. The portfolio turnover of the fund might be similar to the other existing equity diversified scheme.
Prateek Agrawal is the Fund Manager for this fund who has over 14 years of experience in equity markets. From June 2006, he has been the head of equities at ABN AMRO AMC and has managed funds like ABN AMRO Tax Advantage Plan, Sustainable Development Fund, Multi Manager Series 3 and 2B funds. However, performance by most of these funds has been disappointing. The fund seems as a plain vanilla e4uity fund and being the first equity fund for the fund house, one should rather invest in the existing top performing equity funds in the diversified category like HSBC Equity, HDFC Growth, or Reliance Growth Fund.
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