Abakkus Mutual Fund has mopped-up ₹2,468 crore through its maiden new fund offer of Flexi Cap Fund.
The NFO saw participation from nearly 5,518 pin codes from across 2,000 cities. About 36,688 retail and 1,060 institutional investors subscribed to the flexi cap fund during the NFO period.
To bring investment inclusivity and business scalability, Abakkus MF has built an extensive network of 4,700 empanelled distributors.
Vaiibhavv Chugh, Chief Executive Officer, Abakkus Investment Managers, said the investors’ response to NFO is a testament to the strong brand capital of Abakkus Group and trust built through prudent advisory offered by the sales team and distributors.
The portfolio construction will be true to label flexi cap product with diverse spread across market cap classifications and appropriate allocation to the conviction ideas, he said.
Sanjay Doshi, Head of Investments & Research, Abakkus AMC, said the fund will have notable allocation to conviction ideas and will be supported by a well-defined risk management framework aligned to long term wealth creation.
The equity scheme invests across large, mid and small-cap stocks, offering portfolio flexibility across market capitalisations. The fund is benchmarked against the BSE 500 TRI and will invest a minimum of 65 per cent of its assets in equities and equity-related instruments, with the balance allocated to debt, money market instruments, and up to 10 per cent in REITs and InvITs.