Axis Mutual Fund has announced the launch of Axis Multicap Fund, an open-ended equity scheme that would invest in a diversified portfolio of stocks across the market-cap spectrum.

In a press release, the fund house says that the fund will focus on looking for high conviction ideas that have the potential of generating sustainable growth in the medium to long term.

The fund house further states, "Within the overall investment process, Axis Multicap Fund distinguishes itself by aiming to identify companies that are at their inflection points – in the midst of circumstances that have the potential to substantially improve the growth trajectory of the company. This can happen for various reasons like market share gain due to competitive advantage, industry consolidation, sunrise industry, improved management focus & capital allocation and regulatory & policy changes."

Speaking about the fund, Chandresh Kumar Nigam, MD & CEO, Axis MF said, "The fund would offer a diversified portfolio that can cater to all equity investors – whether first time or sophisticated. Over long term, it has been seen that multicap funds tend to outperform large caps over a market cycle while having a comparable risk profile. From an investor's perspective, being consistently good rather than occasionally great has the potential to create long term wealth. We believe that this fund is suitable for all class of investors to help them participate in wealth creation and compounding potential of equity over the long term."