Axis MF unveils 370 days plan

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Axis MF unveils 370 days plan
Axis Mutual Fund has unveiled a new fund, namely Axis Fixed Term Plan - Series 16 (370 days) under Axis Fixed Term Plan - Series 14-16. It"s a close-ended income scheme with duration of 370 days from the date of allotment.

Investment objective of the scheme:
The plan of the scheme will endeavour to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the plan.

The scheme 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 100% of assets in money market and debt instruments including securitized debt with low to medium risk profile. Investment in securitized debt would be upto 50% of the net assets of the scheme. The scheme shall not invest in foreign securitized debt. Investment in derivatives shall be up to 100% of the net assets of the scheme.

Basic Details:
NFO Opens: September 22, 2011
NFO Closes: September 22, 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 Short Term Bond Fund Index
Listing: National Stock Exchange
Fund Manager: Mr. Ninad Deshpande and Mr. Sivakumar

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Read more about: mutual funds, nfo, fmp, axis
Story first published: Wednesday, September 14, 2011, 13:21 [IST]
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