Axis mutual fund has announced Axis small cap fund with NFO closure date on 25 Nov'2013.Its raining close ended mutual funds these days. Few days back ICICI Prudential closed ICICI Prudential Value fund Series 1 and they are about to launch its Series 2 in next few days. Reliance Mutual fund is also coming up with a close ended equity fund. All these funds are playing over the valuation theory and are of the view that even if Market which is viewed as Sensex or Nifty has regained the level of 2008, but still there are lot of undervalued stocks available at this time, which has a potential to deliver good returns over 3-5 years' time frame. With this pretext in mind AMCs are launching New fund offers to collect long term money from investors. I have few concerns over close ended mutual funds with special reference to Axis Small cap fund. - See more at: Axis Small Cap fund is a 5 year close ended mutual fund scheme, which will automatic convert into open ended fund after 5 years). This scheme will predominantly invest in Small cap companies out of CNX Small Cap index which will also act as fund's Benchmark. Axis Small cap fund will be managed by Mr Pankaj Murarka who is also solely managing Axis Mid cap and Axis Large Cap. The fund management is of the view that 5 year time horizon is essential for a small cap to grow to its potential and current market valuations are likely to be favorable for the entry.

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