New Close Ended Scheme launched by Axis Mutual Fund
23/04/2015 10:00
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Hybrid Fund - Series 22 (1278 days close ended debt scheme)” with maturity period of 1278 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 April 21 and will close on May 5.
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 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 the scheme will be in such a way that the objective of the scheme to generate income and capital appreciation will be met by investing in high quality fixed income securities, equity and equity related instruments that are maturing on or before the maturity of the Scheme. Hence, the scheme will allocate 70 to 95 per cent of asset in Debt instruments including securitized Debt, 0 to 25 per cent of asset in Money Market Instruments and 5 to 30 per cent of asset in Equity and Equity Related Instruments.
23/04/2015 10:00
Axis Mutual Fund has launched a new close ended debt scheme named “Axis Hybrid Fund - Series 22 (1278 days close ended debt scheme)” with maturity period of 1278 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 April 21 and will close on May 5.
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 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 the scheme will be in such a way that the objective of the scheme to generate income and capital appreciation will be met by investing in high quality fixed income securities, equity and equity related instruments that are maturing on or before the maturity of the Scheme. Hence, the scheme will allocate 70 to 95 per cent of asset in Debt instruments including securitized Debt, 0 to 25 per cent of asset in Money Market Instruments and 5 to 30 per cent of asset in Equity and Equity Related Instruments.
