Axis Hybrid Fund minimum investment amount is 5k

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Axis Hybrid Fund minimum investment amount is 5k
Axis Mutual Fund launched new scheme named as Axis Hybrid Fund Series 3. The scheme is a close ended income scheme, having the time duration of 3 years from the date of allotment of units. The New Fund Offer (NFO) price for the schemes is Rs. 10 per unit. The NFO opened on September 16, 2011 for subscription and will close on September 30, 2011.

Entry load is nil and exit load charge will not be applicable in the scheme as per the circulation of SEBI and since the scheme is planned to be list on stock exchange hence there will be no exit load in plan.

The minimum application amount is Rs. 5,000 and in multiples of Rs 10 thereafter. The two options are available under the Plan of the Scheme viz. growth and Dividend option. Dividend option has dividend payout facility.

The performance of scheme will be standardized against CRISIL MIP Blended Index and Mr R Sivakumar and Mr Jinesh Gopani will be the Fund Manager the scheme.

The asset allocation of scheme will be in such a way that the objective of the schemes to generate the income will be met but with minimum risk through investments in high quality Fixed income securities. Hence schemes would allocate 65 to 95 per cent of its assets in Debt and Money Market instruments including securitized debt and fund will allocate 5 to 35 per cent in equity and equity related instruments. Investment in securitized debt would be up to 50 per cent of the net assets of the scheme while foreign securitized debt would not be used for investment by the scheme.

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