The new fund offer of Axis Global Alpha Equity Fund of Fund has mobilised Rs 1200 crore with about 70,000 applications. The new fund offer closed on September 18 and it will reopen for subscriptions from September 29.

Financial planners believe the need for geographical diversification is one of the reasons for many investors to put in money in the NFO. Since this is a fund of fund it will invest in Schroders ISF Global Equity Alpha fund, a 15-year-old existing fund with assets of $1.6 billion. The fund has outperformed its benchmark MSCI World Net – Total returns over three and five year periods delivering 15.2% and 11.2% annualized returns compared to its benchmark return of 13.2% and 11% respectively.

The top five holdings in the funds are Amazon, Alphabet Inc, Microsoft, Visa Inc and Adobe. Financial planners believe Axis Global Alpha Equity Fund of Fund gives investors an opportunity to ride on the expertise of Schroders and take exposure to a basket of global companies. Schroders operates in 37 locations across the globe and has over 400 fund managers and analysts worldwide.

While India holds the tag for the fastest growing projected economy, almost all equity investment opportunities that are arising in the sunrise sectors are not available on Indian exchanges. International markets are home to companies of a global stature with the kind of scale, customer base, network effect and competitive moat that very few Indian companies can achieve of emulating in the near term and hence the need to diversify overseas.

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