Axis Mutual Fund (MF) has launched a new fund named as Axis MF Hybrid
Fund Series 23, a 1275 days close ended debt scheme.
During the New Fund Offer (NFO) period, the units
will be offered for Rs. 10 each.
The new issue is open for subscription from 8 May
and closes subscription on 21 May 2015.
In order to provide liquidity, the units of the scheme will be
listed on the capital market segment of the NSE and/ or any other Stock
Exchange.
This product is suitable for investors who are seeking capital
appreciation while generating income over medium to long term.
The scheme invests in debt and money market instruments as well
as equity and equity related instruments with medium risk - Yellow.
The primary objective is to generate income by investing in high
quality fixed income securities that are maturing on or before the maturity of
the scheme whilst the secondary objective is to generate capital appreciation
by investing in equity and equity related instruments.
The scheme shall offer 2 options i.e. dividend (dividend payout
facility) and growth option.
The scheme will allocate 70% to 95% of assets in debt
instruments including securitized debt with low to medium risk profile, invest
upto 25% of assets in money market instruments with low risk profile and it
would allocate 5% to 30% of assets in equity and equity related instruments
with high risk profile.
Investment in securitized debt would be up to 50% of the net
assets of the scheme. The scheme shall not invest in foreign securitized debt.
The minimum application amount is Rs. 5,000
Entry & exit load charge will be not applicable for the
scheme.
Benchmark Index for the scheme is Crisil MIP Blended Fund Index.
The fund managers of the scheme are Mr. Devang Shah & Jinesh
Gopani.
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