Axis Mutual Fund (MF) has launched a new fund named as Axis Hybrid Fund
Series 24, a 1276 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 28 May and closes
subscription on 10 June 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) & 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 Devang Shah and Jinesh Gopani.
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