Axis Mutual Fund launched the Axis Income Plus Arbitrage Passive Fund of Fund, blending structured allocation between debt instruments and arbitrage strategies as a lower-volatility, tax-efficient NFO construct. This hybrid profile is positioned for investors who prefer smoother risk curves instead of directional equity beta chasing. The fund opens for subscription until November 11 and aims to systematically exploit arbitrage spreads while debt provides ballast through market cyclicality. Advisors are positioning this for conservative allocation buckets, high-liquidity short-duration parking and tactical tax-aware rebalancing frameworks. Category peers will likely map pricing competitiveness based on post-launch realized spreads in the upcoming quarters.