Sunil Singhania’s Abakkus Mutual Fund has announced that the new fund offer (NFO) of their maiden fund, Abakkus Flexi Cap Fund, secured assets under management (AUM) with a subscription value of Rs 2,468 crore. The fund opened for subscription on December 8 and closed on December 22.

This reflects strong interest from investors across the country, with participation from nearly 5,518 pin codes across 2,000 cities. About 36,688 retail and 1,060 institutional investors subscribed to the flexi cap fund during the NFO period. To promote investment inclusivity and business scalability, Abakkus Mutual Fund has built an extensive network of 4,700 empanelled distributors, according to a press release by the fund house.

Favourable reception from investors across the country for our maiden fund is a testament to the strong brand capital of Abakkus Group and the trust built through prudent advisory offered by our sales team and distributors during the NFO period of Abakkus Flexi Cap Fund. Our portfolio construction is true to label flexi cap products, with diverse spread across market cap classifications and appropriate allocation to conviction ideas. We will aim to launch more funds in the coming years, said Vaiibhavv Chugh, Chief Executive Officer, Abakkus Investment Managers.

The Abakkus Flexi Cap Fund is managed by Sanjay Doshi, Head of Investments and Research, and re-opened for investments from December 30, available in both regular and direct plans.