New Close Ended Scheme launched by Axis Mutual Fund
19/03/2015 11:39
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Fixed Term Plan - Series 74 (1105 days)”, with maturity period of 1105 days from and including the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 18 and will close on March 23. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be not 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 options. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index. Kedar Karnik will be the fund manager of the scheme. The asset allocation of the 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 & money market instruments that are maturing on or before the maturity of the respective plan(s). Hence, the scheme will allocate 80 to 100 per cent of asset in Debt Instruments and 0 to 20 per cent of asset in Money Market Instruments.
19/03/2015 11:39
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Fixed Term Plan - Series 74 (1105 days)”, with maturity period of 1105 days from and including the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 18 and will close on March 23. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be not 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 options. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index. Kedar Karnik will be the fund manager of the scheme. The asset allocation of the 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 & money market instruments that are maturing on or before the maturity of the respective plan(s). Hence, the scheme will allocate 80 to 100 per cent of asset in Debt Instruments and 0 to 20 per cent of asset in Money Market Instruments.
