Axis MF unveils Axis Hybrid Fund Series 2

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Axis MF unveils Axis Hybrid Fund Series 2
Axis Mutual Fund has unveiled a new fund, namely Axis Hybrid Fund Series 2. It"s a close-ended income scheme with duration of 3 years from the date of allotment.

Investment objective of the schemes:
The primary objective is to generate income by investing in high quality fixed income securities whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.

The schemes target to collect a minimum subscription (minimum target) amount of Rs 1 crore under each scheme during the NFO period.

Allocation of funds:
The scheme will allocate 65% to 95% of assets in debt and money market instruments including securitized debt with low to medium risk profile. On the other side it would allocate 5% to 35% 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.

Basic Details:
NFO Opens: August 16, 2011
NFO Closes: August 30, 2011
NFO Price: Rs.10 per unit
Options: Dividend Payout and Growth option
Minimum Application Amount: Rs 5,000 per application and additional of Rs 10, thereafter
Exit Load: Nil
Benchmark: Crisil MIP Blended Index
Fund Manager: Mr. R. Sivakumar and Mr. Jinesh Gopani

Read more about: mutual funds, nfo, fmp, income
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