Axis MF launches “Axis Hybrid Fund - Series 14”; NFO to
close on August 22
12/08/2014 10:55
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Hybrid Fund - Series 14” with maturity period of 1274 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on August 22. 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 and Dividend option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Fund Index. Devang Shah and Jinesh Gopani will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of debt instruments including securitized debt (not including money market instruments), money market instruments and equity & equity related instruments. Hence, the scheme will allocate 70 to 95 per cent of asset in debt instruments including securitized debt (not including money market instruments), 0 to 25 per cent of asset in money market instruments and 5 to 30 per cent of asset in equity & equity related instruments.
12/08/2014 10:55
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Hybrid Fund - Series 14” with maturity period of 1274 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on August 22. 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 and Dividend option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Fund Index. Devang Shah and Jinesh Gopani will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of debt instruments including securitized debt (not including money market instruments), money market instruments and equity & equity related instruments. Hence, the scheme will allocate 70 to 95 per cent of asset in debt instruments including securitized debt (not including money market instruments), 0 to 25 per cent of asset in money market instruments and 5 to 30 per cent of asset in equity & equity related instruments.
