Axis MF launches “Axis Fixed Term Plan - Series 69 (3
years)”; NFO to close on July 23
17/07/2014 10:49
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Fixed Term Plan - Series 69 (3 years)” with maturity period of 3 years from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 16 and will close on July 23. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth, Dividend and Half Yearly Dividend option. The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. Kedar Karnik will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns will be met by investing in a portfolio of debt instruments and money market instruments. Hence, the scheme will allocate 70 to 100 per cent of asset in debt instruments and 0 to 30 per cent of asset in money market instruments.
17/07/2014 10:49
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Fixed Term Plan - Series 69 (3 years)” with maturity period of 3 years from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 16 and will close on July 23. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth, Dividend and Half Yearly Dividend option. The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. Kedar Karnik will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns will be met by investing in a portfolio of debt instruments and money market instruments. Hence, the scheme will allocate 70 to 100 per cent of asset in debt instruments and 0 to 30 per cent of asset in money market instruments.
