Axis Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Axis Fixed Term Plan - Series 1 - 10, a close-ended debt scheme. The new fund offer (NFO) price for the scheme is Rs 10 per unit.
The investment objective of the scheme is to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the respective plan(s).
Axis Fixed Term Plan - Series 1-10 offers plans of tenure from 12 months to 24 months from the date of allotment of the respective Plans (including the date of allotment).
Each plan under the scheme would offer growth, dividend and quarterly dividend options. Dividend and quarterly dividend options would have dividend payout facility.
The scheme would invest 100% of assets in money market and debt instruments including securitized debt, with low to medium risk profile. Securitized debt will be up-to 100% of the net assets of the respective plan(s). The scheme shall not invest in foreign securitized debt.
The entry and exit load charge will not be applicable for the scheme.
The minimum application amount for purchase and switch in is Rs 5000 and in multiples of Re 10 thereafter (with respect to each plan).
The fund seeks to collect a minimum subscription amount of Rs one crore under the scheme during the NFO period.
The schemes performance would be benchmarked against CRISIL Short Term Bond Fund Index.
The Units of Scheme will be listed on the Stock Exchange(s).
The fund manager of the scheme will be Sriraj Bhattacharjee.
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