Axis Asset Management Company Limited has launched a New Fund Offer (NFO) named as Axis Fixed Term Plan – Series 12 (367 days), a close ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 3rd February and close on 8th February 2011.
The objective of the scheme would be to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme. Axis Asset Management Company Limited is one of the well known mutual funds company in the country.
The scheme would allocate up to 100% of assets in Government of India dated Securities and Treasury Bills, PSU & Corporate Bonds/Debt Instruments, Money Market Instruments. Exposure to securitized debt may be to the extent of 40% of the net assets.
Presently, two options are available under the scheme viz. Growth and dividend option. Maturity date of the scheme would be 367 days from the date of allotment of units.
Entry load charge as well as exit load charge will be nil for the scheme. The exit load is not applicable since the scheme will be listed on National Stock Exchange.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Benchmark Index for the scheme is CRISIL Liquid Fund Index.
Mr Ninad Deshpande and Sivakumar will manage the fund.
|Fund Name||Axis Mutual Fund|
|Scheme Name||Axis Fixed Term Plan – Series 12 (367 days)|
|Scheme Category||Close Ended (Income)|
|NFO Launch Date||3rd Feb 2011|
|NFO Closure Date||8th Feb 2011|
|NFO Price||(Rs) 10|
|Min. Subscription Amount||(Rs) 5000
and in multiples of Rs 10 thereafter.
For Further Details Please Visit Website : www.axismf.com Google+