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BOI AXA Mutual Fund

BOI AXA Mutual Fund is a mutual venture between Bank of India and AXA Investment Managers, a part of AXA Group, one of the world’s most significant players in the Financial Protection industry. Bank of India has 5000 branches in India. Presently Bank of India has an overseas presence in 22 countries spread over five continents with 60 offices including 5 Subsidiaries, 5 Representative Offices, and 1 Joint Venture. 

BOI AXA Mutual Fund was inaugurated as a trust in accordance with the provisions of the Indian Trust Act, 1882 by Bank of India and AXA Investment Managers (the sponsors) as settlers. The trust deed is registered in accordance with the 1908 Indian Registration Act. BOI AXA Mutual Fund was registered with SEBI vide registration number MF/056/08/01 dated 25th May 2012. BOI AXA Mutual Fund is co-sponsored by Bank of India and AXA investment managers. AXA IM assigned a sum of Rs 1,00,000 to the trustee as the prime donation towards the corpus of the mutual fund

BOI AXA Mutual Fund NAV and Scheme Details

Scheme Name Current NAV Scheme Category
BOI AXA Equity Debt Rebalancer Fund 14.34 Equity - Hybrid -2.84%
BOI AXA Equity Debt Rebalancer Fund 10.36 Equity - Hybrid -2.84%
BOI AXA Equity Debt Rebalancer Fund - Direct Plan 14.79 Equity - Hybrid -2.24%
BOI AXA Equity Debt Rebalancer Fund - Direct Plan 9.86 Equity - Hybrid -7.29%
BOI AXA Credit Risk Fund 7.20 Debt - Income -45.11%
BOI AXA Credit Risk Fund - Direct Plan 7.26 Debt - Income -44.97%
BOI AXA Mid & Small Cap Equity & Debt Fund 12.61 Equity - Hybrid 2.77%
BOI AXA Mid & Small Cap Equity & Debt Fund 11.15 Equity - Hybrid 2.76%
BOI AXA Mid & Small Cap Equity & Debt Fund - Direct Plan 13 Equity - Hybrid 3.67%
BOI AXA Mid & Small Cap Equity & Debt Fund - Direct Plan 11.39 Equity - Hybrid 3.64%
BOI AXA Liquid Fund - Unclaimed Dividend - Upto 3 Years 1,154.99 Liquid Fund 5.90%
BOI AXA Liquid Fund - Unclaimed Dividend - Greater than 3 Years 1,000 Liquid Fund 0%
BOI AXA Liquid Fund - Unclaimed redemption - Upto 3 Years 1,154.87 Liquid Fund 5.90%
BOI AXA Liquid Fund - Unclaimed redemption - Greater than 3 Years 1,000 Liquid Fund 0%
BOI AXA Mid Cap Tax Fund Series 1 9.48 Equity - ELSS 18.65%
BOI AXA Mid Cap Tax Fund Series 1 9.48 Equity - ELSS 18.65%
BOI AXA Mid Cap Tax Fund Series 1 - Direct Plan 9.63 Equity - ELSS 19.48%
BOI AXA Mid Cap Tax Fund Series 1 - Direct Plan 9.63 Equity - ELSS 19.48%
BOI AXA Arbitrage Fund 10.88 Equity - Hybrid 5.46%
BOI AXA Arbitrage Fund 10.12 Equity - Hybrid -1.98%

BOI AXA Equity Debt Rebalancer Fund, BOI AXA Equity Debt Rebalancer Fund-Regular Plan, BOI AXA Short Term Income Fund-Regular Plan, BOI AXA Treasury Advantage Fund-Regular Plan, BOI AXA Treasury Advantage Fund-Regular Plan, BOI AXA Mid Cap Equity & Debt Fund-Regular Plan, BOI AXA Regular Return Fund-Regular Plan.

AXA Investment Managers

AXA Investment Managers endorsed by the intensity of the AXA group is one of the world's paramount asset managers.

AXA IM generates local and global investment services for a wide range of consumers from AXA group and its insurance to the investors. The multi-expert business model of AXA IM comprises of one asset of special investment group, AXA Fixed Income, AXA Framlington, AXA Rosenberg, AXA Funds of Hedge, AXA Private Equity, AXA Real Estate, AXA Structured Finance as well as investment services group based on Asset Liability Management and Multi-Asset Investment.

BOI AXA Trustee Services Private Limited is authorized as the trustee of BOI AXA Mutual Fund and also registered under the Companies Act, 1956.

The Trustee

BOI AXA Trustee Services Private Limited was registered under the Companies Act in 1956 and has been named as Trustee of BOI AXA Mutual Fund under the re-established undertaking of trust on 24th May 2012. The trustee is able to control overall of the funds by the internal processes within the fund.

Present trust deed regulations require that the Fund's Trustee shall be granted a payment of 0.01 % per annum. The trustee is allowed to refund any fees, penalties pr expenses liable in/or for the successful execution of the Trustee's agreement and responsibilities.

BOI AXA Asset Management Company

The AMC has approved to act as asset manager on 25th May 2012 and also engaged as the investment manager of the fund by the Trustee under the Investment Management Agreement on 24th May 2012. The AMC conducts an array of duties and operations, including superintending the properties of the schemes. BOI AXA Investment Managers Private Limited is a joint venture of AXA Investment Managers between BOI and AXA group. As per 19th June 2019, the AMC has launched miscellaneous schemes for the fund which are mentioned below:-

BOI AXA Equity Funds

  • BOI AXA Large and Mid Cap Equity Fund formerly known as BOI AXA Equity Fund.
  • BOI AXA Tax Advantage Fund
  • BOI AXA Manufacturing and Infrastructure Fund
  • BOI AXA Small Cap Fund

BOI AXA Hybrid Funds

  • BOI AXA Conservative Hybrid Fund formerly known as BOI AXA Regular Return Fund.
  • BOI AXA Equity Debt Rebalancer Fund.
  • BOI AXA Mid and Small Cap Equity and Debt Fund formerly known as BOI AXA Mid Cap Equity and Debt Fund.
  • BOI AXA Arbitrage Fund

BOI AXA Debt Funds

  • BOI AXA Liquid Fund
  • BOI AXA Ultra Short Duration Fund formerly known as BOI AXA Treasury Advantage Fund.
  • BOI AXA Short Term Income Fund
  • BOI AXA Credit Risk Fund formerly known as BOI AXA Corporate Credit Spectrum Fund.

BOI AXA Debt Funds

The acquisition of a debt fund is equivalent to authorize a loan to the entity. BOI AXA Debt Funs invest in fixed-interest investment such as Corporate Bonds, Government Securities, Treasury Bills, Commercial Papers and Other Money Market Instruments. Gaining interest income or capital growth is the key reason for engaging in BOI AXA Debt Funds. This fund invests in securities which have high credit ratings. BOI AXA Debt Funds are attempting to optimize returns by diversifying across various security types. This makes it possible for debt funds to earn higher returns. However, there is no guarantee of returns in Debt Funds. Returns from Debt Funds often fall within a predictable range. BOI AXA Debt Funds are suitable for those peoples who are seeking short-term and medium-term investment horizons. Short-term Debt Funds varies from 3 months to 1 year, whereas medium-term spans from 3 years to 5 years.

 BOI AXA Liquid Fund

The scheme aims to generate fair market-related returns with lower risk and greater flexibility through an equity and money market assets strategy, but there can be no guarantee that the scheme's investment targets will be met. This scheme provides a direct and regular plan that have common portfolio. The scheme will provide NAV related purchasing and redeeming units on an ongoing basis on each business days, but not later than 10 business days from the date of receipt of the redemption request. In addition, units in a scheme are transfigured form which is freely transferable into a depository account.

Options

Both Direct and Regular plan has the following options

Growth option- No dividend will be declared by the company under this option. Unit becomes under this option will remain invested in the scheme and will be expressed under this option in the net asset value of units.

Bonus option- Bonus unit is a fully paid unit provided by capitalizing the surplus that can be allocated under the respective schemes. Under the bonus option, the bonus may be determined at the discretion of the trustees o the basis of the quality of the allocated surplus. Bonus unit will be given in proportion to the number of units kept by the owner of the unit under the bonus option as set for the bonus unit declaration date. BOI AXA Mutual Fund investors are requested to remember that the bonus option is available for subscription under the Regular and Direct Plans. Because of the availability of distributed surpluses bonus units can be declared at the discretion of the trustees from time to time. Bonus units are not subject to exit loads according to SEBI Guidelines. Investors must contact their tax advisor to understand the tax consequences of bonus option subscribing units, including the transfer or redemption of bonus units.

Dividend reinvestment option- Dividends will be announced every day and weekly basis which will allow investors to opt for a frequency of their preference. The plans under this option shall declare dividends that are mandated and will be re-invested in a plan/option. The new units generated by way of reinvestment of the dividend would be applied to the units already owned by the holder. There will be no entry load on the reinvested dividends. The NAV of the Dividend Re-Invest Policy will be diminished by the relevant dividend payout tax/ surcharge/ cess/ any other legal levy after dividend declaration. Dividends thereby re-invested shall represent a positive payout of dividends to the unit-holders and a beneficial acquisition of the same sum from each unit-holder for re-investment of units of the same plan/sub-plan.

Dividend transfer option- All plans offer dividend transfer choice under both schemes with regular dividend rate. Under this process, unit-holders may use Liq-uity facility to move the specified regular dividends to the BOI AXA Equity Fund/BOI AXA Focused Infrastructure Fund as chosen by the investor or in any other fund schemes as may be informed by the AMC from time to time on each business days. Consequently, the dividend payable to the unit-holder will be passed to the target scheme compulsorily and without any further intervention by them, and units to the dividend sum will be assigned to the relevant NAV in the target scheme.

Benchmark- CRISIL Liquid Fund Index.

Transparency/NAV Disclosure

NAVs are measured on a daily basis.

The AMC will release NAVs in at least two daily newspapers circulated in India, on the website of the  Indian Mutual Fund Association AMFI on every business days in at least 2 of them. The AMC will publish the details of the scheme portfolio on a semi-annual basis or as otherwise as may be required, in a newspaper within one month of the end of each half-year (i.e 31st March - 30th September) or alternatively sent to the unit owners.

Loads- Entry and Exit Load NIL

Minimum application amount- Rs 5000 and in multiples of Rs 1 thereafter.

Minimum additional Investment- Rs 1000 and in multiples of Rs 1 thereafter.

For liquidity facility- Rs 1 lac.

Minimum redemption other than STP- Rs 1000 or account balance whichever is lower.

 Where will the scheme Invest?

  • Debt and Money Market Instruments
  • Government of India, state and local government debt obligations, government agencies, statutory bodies, public sector undertakings, scheduled commercial banks, financial institutions for development, corporate entities and trusts. As far as transactions in government securities are concerned, these securities typically carry national guarantees and state guarantees in case of central and state securities.
  • Debt and money market securities and other securities as may be allowed from time to time under the regulations.
  • Money market instruments, including but not limited to treasury bills, commercial papers, reverse-reposit contracts, Collateralized Borrowing and lending obligations, Commercial Deposits of scheduled commercial banks and financial institutions for growth, bills of exchange/promissory notes of public and private sector companies, government securities.
  • Transfer pay through or other certificates of membership that reflect value in a pool of assets including receivables.
  • Non-convertible debt securities part.
  • Derivative instruments such as interest rate swaps, forward rate agreements and other derivative methods allowed under the regulations.
  • Any other instruments as allowed from time to time under the regulations.

Features of BOI AXA Liquid Fund

Date of allotment- July 16, 2008

Average AUM- Rs 550.48 Crs.

Latest AUM- Rs 485.74 Crs.

Top Portfolio with % of Net Assets

Kotak Mahindra Bank Limited- 9.19

Bank of Baroda- 5.11

Small Industries Dev Bank of India- 5.10

Axis Bank Limited- 5.10

National Bank For Agriculture and Rural Development- 5.09

LIC Housing Finance Limited- 10.26

Power Grid Corporation of India Limited- 5.14

Tata Capital Financial Services Limited- 5.13

ICICI Securities Limited- 5.13

Housing Development Finance Corporation Limited- 5.09

Bajaj Finance Limited- 5.09

Axis Bank Limited (FD)- 4.12

HDFC Bank Limited (FD)- 4.12

Net Receivables/Payables- 0.41

TREPS / Reverse Repo Investments- 5.50

BOI AXA Liquid Fund NAV (As on September 30, 2019)

Regular Plan

Growth- 2,210.3132

Daily Dividend- 1,002.1069

Weekly Dividend- 1,001.3124

Direct Plan

Growth- 2,224.7191

Daily Dividend- 1,002.6483

Weekly Dividend- 1,061.5518

How does the scheme benchmark its performance?

The CRISIL Liquid Fund Index is designed to track returns from a portfolio that incorporates call resources and commercial paper assets. The CRISIL Liquid Fund offers market participants with a simple, practical and easily accessible method for tracking and evaluating market movements and determining the result affect on a portfolio of call market and commercial paper assets. The index is built to benchmark the quality of all liquid funds in the Indian Financial markets against an index reflecting the liquid funds in collaboration with AMFI. After detailing the reasons for such adjustment and following the appropriate regulatory process, the AMC and the trustee may mutually agree to change the benchmark index. Schemes efficiency including results of benchmarks indices will be addressed and updated on a regular basis by the AMC and trustee boards respectively and assigned committees.

Who manages the Scheme?

Amit Modani  (July 15, 2019) - More than 7 years of Experience in Fixed Income.

How to Apply for BOI AXA Liquid Fund?

  • Applicants are required to make a minimum amount. Application forms, Transaction Slips for purchasing/Repurchasing the units of the scheme are accessible from AMC's ISC's/Distributors/Designated Branches.
  • Application completed and duly signed by all joint investors should be submitted to an Investor Service Center together with the cheque/draft/ or other payment option.
    All subscription cheques/drafts/payment instruments must be drawn in favour of BOI AXA Liquid Fund.
  • Account payee should be reviewed in order to prevent deceptive activity, it is advised that the shareholders also provide the name of the single or first joint holder/ its PAN/ folio number after the name of the scheme.
  • To investors who enrol under a scheme's direct plan, they should state “Direct Plan” in the application form against the scheme title e,g BOI AXA Liquid Fund.
  • Investors should also include “Direct” in the ARN row of the application form.
  • Furthermore when distributor code is specified in the application form, but “Direct Plan” is indicated against the name of the scheme, the distributor code is overlooked and the application is handled under Direct Plan.
  • Therefore if the request for a regular plan is submitted without the distributor code in the ARN row. The application shall be handled under the Direct Plan.
  • Payments can be done by Cheque, Demand Draft, RTGS, NEFT or electronic transfer of funds over the Internet.

Eligibility for BOI AXA Liquid Fund

 

  • All Indians either singly or jointly.
  • Minor through parent/guardian.
  • Company or Private entities, undertaking in the public sectors and companies licensed under the Societies Registration Act, 1860.
  • Religious, Private and Charitable trusts
  • Partnership firms licensed under the Indian Partnership Act, 1932.
  • A Hindu Undivided Family under its Karta.
  • Limited Liability Partnerships licensed under Limited Liability Partnerships Act 2008
  • NRIs on full repatriation basis.
  • Foreign Institutional Investors and Sub Accounts registered with SEBI.
  • Army, Air-force or any other para-military applicants
  • Scientific and Industrial Research Organizations.
  • International Multilateral Agencies approved by the government of India.
  • Insurance company registered under Insurance Regulatory.

BOI AXA Ultra Short Duration Fund

Formerly known as BOI AXA Treasury Advantage Fund. It is an Open-ended Ultra Short Term Debt Scheme investing for a short period for 3 to 6 months. This scheme intends to generate fair-market related returns by equity and money market instruments portfolio with lower risk and greater flexibility. No expected or guaranteed returns are provided by this scheme.

Features of BOI AXA Ultra Short Duration Fund

  • It is a perfect investment source for maintenance of funds in the short to medium term.
  • Investors can also use this fund with liquid fund to start as an emergency fund.
  • Invest part of your investments together with other types of debt funds in the Ultra Short Duration Fund and use it to achieve a monthly revenue through a regular withdrawal policy.
  • An open-ended ultra short term debt fund is ideal to invest fund in short-term.
  • Suitable for those investors who are willing to invest for 3-6 months of investment period.
  • This aims to provide higher returns than liquid funds by keeping a longer investment plan.
  • Benchmark- CRISIL Liquid Fund Index
  • Average AUM- Rs 324.97Cr
  • Latest AUM- Rs 304.80Cr
  • Minimum Lumpsum amount- Rs 5000 and in multiples of Rs 1 thereafter.
  • Minimum additional Investment- Rs 1000 and in multiples of Rs 1 thereafter.
  • Average Maturity- 5.55 months
  • Modified duration- 0.42
  • Portfolio yield- 6.34%
  • Loads- Entry and Exit Load NIL
  • Date of allotment- July 16, 2008

    Top Portfolios with % of Net Assets

    Bonds and NCDs

    Avendus Finance Private Limited- 8.51

    Mahindra & Mahindra Financial Services Limited- 8.29

    National Housing Bank- 8.24

    LIC Housing Finance Limited- 6.58

    Money Market Instruments

    IndusInd Bank Limited- 8.09

    Small Industries Dev Bank of India- 8.00

    ICICI Bank Limited- 8.00

    Bank of Baroda- 7.99

    Export-Import Bank of India- 7.98

    Indian Bank- 7.87

    National Bank For Agriculture and Rural Development- 6.07

    Commercial Papers

    Housing Development Finance Corporation Limited- 8.00

    Cash & Cash Equivalent

    Net Receivables/Payables- 2.40

    TREPS / Reverse Repo Investments- 0.64

     

BOI AXA Ultra Short Duration Fund NAV (As on September 30, 2019)

Regular Plan

Growth- 2,348.5172

Bonus- 0

Daily Dividend- 1,007.4498

Weekly Dividend- 1,008.3941

Direct Plan

Growth- 2,384.8902

Bonus- 2,372.9093

Daily Dividend- 1,011.8070

Weekly Dividend- 1,007.8766

How to Apply for BOI AXA Ultra Short Duration Fund

  • Applicants are required to make a minimum amount. Application forms, Transaction Slips for purchasing/Repurchasing the units of the scheme are accessible from AMC's ISC's/Distributors/Designated Branches.
  • Application completed and duly signed by all joint investors should be submitted to an Investor Service Center together with the cheque/draft/ or other payment option.
    All subscription cheques/drafts/payment instruments must be drawn in favour of BOI AXA Ultra Short Duration Fund.
  • Account payee should be reviewed in order to prevent deceptive activity, it is advised that the shareholders also provide the name of the single or first joint holder/ its PAN/ folio number after the name of the scheme.
  • To investors who enroll under a scheme's direct plan, they should state “Direct Plan” in the application form against the scheme title e,g BOI AXA Ultra Short Duration Fund.
  • Investors should also include “Direct” in the ARN row of the application form.
  • Furthermore when distributor code is specified in the application form, but “Direct Plan” is indicated against the name of the scheme, the distributor code is overlooked and the application is handled under Direct Plan.
  • Therefore if the request for a regular plan is submitted without the distributor code in the ARN row. The application shall be handled under the Direct Plan.
  • Payments can be done by Cheque, Demand Draft, RTGS, NEFT or electronic transfer of funds over the Internet.

Eligibility for BOI AXA Ultra Short Duration Fund

  • All Indians either singly or jointly.
  • Minor through parent/guardian.
  • Company or Private entities, undertaking in the public sectors and companies licensed under the Societies Registration Act, 1860.
  • Religious, Private and Charitable trusts
  • Partnership firms licensed under the Indian Partnership Act, 1932.
  • A Hindu Undivided Family under its Karta.
  • Limited Liability Partnerships licensed under the Limited Liability Partnerships Act 2008
  • NRIs on full repatriation basis.
  • Foreign Institutional Investors and Sub Accounts registered with SEBI.
  • Army, Air-force or any other para-military applicants
  • Scientific and Industrial Research Organizations.
  • International Multilateral Agencies approved by the government of India.
  • Insurance company registered under Insurance Regulatory.

Who manages the Scheme?

Fund Manager

Nitish Gupta who has done BA in Production and MBA in finance. He has 20 years of experience in managing Fixed income portfolios. He has started managing this funds from 5th December 2018
Amit Modani who has done CA from the ICAI and CS from the ICSI Institute. He has more than 7 years of experience in Fixed Income. He has started managing this funds from 22nd October 2018.

BOI AXA Short-Term Income Fund

Through participating in a diversified portfolio of debt and money market instruments the scheme intends to generate income and capital growth. There is no certainty that for profit can be generated. It is an open-ended short-term debt scheme which invests between 1 year and 5 years in instruments. This fund is suitable for those investors who are willing for regular income over short to medium term. The scheme is able to invest up to 20% of its net assets in foreign securities. The scheme aims to assign scheme corpus to the shorter-dated money market and debt instruments within the scope of the regulations. The scheme adopts an overall flexible approach to credit risk and place a high priority on flexibility.

Plans and Options

BOI AXA Short-Term Income Fund offers Regular and Direct Plan. Both the plans have common portfolio which are listed below.

  • Growth option for capital appreciation.
  • Dividend Re-investment Option for regular income
  • Dividend Pay-out Option for regular income

Features of BOI AXA Short-Term Income Fund

Benchmark- CRISIL Short Term Bond Fund Index

Date of allotment- December 18, 2008

Average AUM- Rs 49.88 Cr

Latest AUM- Rs 49.05 Cr

Minimum application amount- Rs 5000 in multiples of Rs 1

Additional Purchase- Rs 1000 in multiples of Rs 1

Investments through SIP/STP (Minimum Duration 6 months)

Minimum Installment Amount- Rs 1000 in multiples of Rs 100

Minimum Redemption- The minimum amount for redemption must be Rs 1,000/- or equivalent Unit value, or entire account balance whichever is lower.

Schemes Top Portfolio Holdings

Aadhar Housing Finance Limited - 8.02%

Coffee Day Natural Resources Private Limited - 10.01%

Indian Railway Finance Corporation Limited - 10.69%

Bharat Petroleum Corporation Limited CRISIL - 10.39%

Coffee Day Natural Resources Private Limited - 10.01%

Avendus Finance Private Limited - 8.14%

Aadhar Housing Finance Limited - 8.02%

IDFC First Bank Limited - 6.11%

Load Structure

Entry Load NIL

Exit Load NIL

Fund Manager

Nitish Gupta funding this fund and have more than 20 years of experience in managing Fixed Income Portfolios

How to Apply BOI AXA Short-Term Income Fund

  • Applicants are required to make a minimum amount. Application forms, Transaction Slips for purchasing/Repurchasing the units of the scheme are accessible from AMC's ISC's/Distributors/Designated Branches.
  • Application completed and duly signed by all joint investors should be submitted to an Investor Service Center together with the cheque/draft/ or other payment option.
  • All subscription cheques/drafts/payment instruments must be drawn in favor of BOI AXA Short-term Income Fund
  • Account payee should be reviewed in order to prevent deceptive activity, it is advised that the shareholders also provide the name of the single or first joint holder/ its PAN/ folio number after the name of the scheme.
  • To investors who enroll under a scheme's direct plan, they should state “Direct Plan” in the application form against the scheme title e,g BOI AXA Short-term Income Fund.
  • Investors should also include “Direct” in the ARN row of the application form.
  • Furthermore when distributor code is specified in the application form, but “Direct Plan” is indicated against the name of the scheme, the distributor code is overlooked and the application is handled under Direct Plan.
  • Therefore if the request for a regular plan is submitted without the distributor code in the ARN row. The application shall be handled under the Direct Plan.
  • Payments can be done by Cheque, Demand Draft, RTGS, NEFT or electronic transfer of funds over the Internet.

Eligibility for BOI AXA Short-term Income Fund

  • All Indians either singly or jointly.
  • Minor through parent/guardian.
  • Company or Private entities, undertaking in the public sectors and companies licensed under the Societies Registration Act, 1860.
  • Religious, Private and Charitable trusts
  • Partnership firms licensed under the Indian Partnership Act, 1932.
  • A Hindu Undivided Family under its Karta.
  • Limited Liability Partnerships licensed under Limited Liability Partnerships Act 2008
  • NRIs on full repatriation basis.
  • Foreign Institutional Investors and Sub Accounts registered with SEBI.
  • Army, Air-force or any other para-military applicants
  • Scientific and Industrial Research Organizations.
  • International Multilateral Agencies approved by the government of India.
  • Insurance company registered under Insurance Regulatory.

BOI AXA Short Term Income Fund NAV (As on September 30, 2019)

Regular Plan

Growth- 16.7592

Monthly Dividend- 8.5992

Quarterly Dividend- 8.4742

Direct Plan

Growth- 17.7303

Monthly Dividend- 8.6256

Quarterly Dividend- 8.3937

BOI AXA Credit Risk Fund

The investment goal of the scheme is to produce capital appreciation over the long-term by concentrating primarily on corporate Debt across the credit continuum in the space of investment-grade rating. In order to achieve the goal the scheme aims to invest in public and private companies, rated and unrated instruments and structured obligations. However, the investment objective of the scheme is not assured or guaranteed. The scheme will provide a continuous offer to redeem units at NAV derived rates subject to the relevant exit load. The scheme will dispatch the proceeds of redemption within 10 business days of receipt of the application for redemption or any other time as may be approved by SEBI from time to time. In addition, units of the scheme which are held in a depository account in dematerialized mode are free to be transferred. The scheme has a unit offer price of Rs 10 each at applicable NAV.

Loads

Entry Load- NIL

Exit Load

4% if redeemed within 12 months from the date of allotment

3% if redeemed after 12 months but within 24 months from the date of allotment

2% if redeemed after 24 months but within 36 months from the date of allotment

Nil if redeemed after 36 months from the date of allotment

Risk Factors

Standard Risk factors

  • Investment in Mutual Fund Units includes investment risks such as trading volumes, settlement risk, liquidity risk, default risk and potential loss of principal
  • As the price/cost/ interest rate of the securities in which the scheme invests fluctuates the value of the investment in the scheme will rise or fall. As with any investments in securities, NAV units under the scheme can rise or fall, depending on the factors and forces influencing the market.
  • BOI AXA Credit Risk Fund is the only title of the scheme and does not reflect the value and future prospects and returns of the scheme in any way.
  • The sponsor is not liable for any surplus in the scheme fund occurring and resulting from the execution of the scheme beyond the nominal contribution of Rs 1,00,000 provided by the sponsor to the fund at the time of the establishment of the mutual fund. The sponsors' associates are not responsible for any loss or shortfall from the execution of the scheme.
  • This scheme is not a secured or guaranteed scheme of returns and no fixed assured returns are provided to shareholders in the scheme.

Risk associated with investments in Bonds / Fixed Income Instruments

Credit Risk- Downgrades, delays or defaults of the issuer can result in a credit risk.

Securities with moderate credit rating and unrated securities- The scheme can invest in medium credit rating securities or unrated debt securities and instruments.

Valuation Risk associated with investing in unrated securities- The scheme is planning to invest up to 25% of its NAV in unrated debt securities. Unrated securities carry additional value-related risks due to the absence of the market index/quality requirements. These unrated securities will, therefore, be priced on the basis of the rules for SEBI /AMFI valuation.

Re-investment Risk- This risk refers to the interest rate levels at which cash flows received from the securities in the Scheme or from maturities in the Scheme are re-invested.

Counterparty Risk- For deals executed in the secondary market, certain investments of the Scheme will be exposed to the credit risk of the counterparties (dealers, brokers and exchanges) through which the Fund deals.

Liquidity or Marketability Risk- This refers to the ease with which a security can be sold at or near its true value. The primary measure of liquidity risk is the spread between the quoted bid price and the offer price quoted by a dealer. Liquidity risk is characteristic of the Indian fixed income market. Trading volumes, settlement periods and transfer procedures may restrict the liquidity of some of these investments

Legal / Enforcement Risk- In case of default in any of its portfolio investments, the Scheme may engage with various agencies/law firms in order to initiate remedial action including litigation to recover the proceeds from its investments and such enforcement of securities including liquidation of underlying assets may take a long period of time, maybe expensive and may not lead to recovery of all outstanding amounts.

Interest Rate Risk- Like all debt securities, interest rate changes can impact the net asset value of the scheme asset value prices generally increase as interest rates drop a usually falls as interest rate rise.

How will the Scheme Allocate its Assets?

The scheme will invest mainly in securities of corporate bond. Dated government securities and state development loans will not be included in the portfolio.

Where will the scheme invest?

  • Debt obligations of public and private sector companies, holding companies, Special Purpose Vehicles (SPV), trusts (which include secularized debt) across all sectors (including but not limited to Automobiles, Cement, Chemicals, Construction, Consumer Goods, Energy, Fertilizers, Financial Services, Industrial Manufacturing, IT, Media, Metals, Pharmaceuticals, Real Estate, Services, Telecom and Textiles)
  • Debt, money market securities and other assets which may be allowed from time to time under the regulations.
  • Money market instruments including but not limited to, treasury bills, commercial papers, reverse-repo agreements, TREPs (Tri party Repo), CDs (Commercial Deposits) of scheduled commercial banks and development financial institutions, bills of exchange/promissory notes of public sector and private sector corporate entities.
  • Pass through, Pay through or other Participation certificates, representing interest in a pool of assets including receivables.
  • The non-convertible part of convertible debt securities.
  • Debt securities may be classified, unlisted, privately held or secularized including but limited to certificates.

Investment Strategy

The investment objective of the scheme is to generate long-term capital appreciation by inversing mainly in corporate debt across the credit spectrum within the investment grade rating universe.

To achieve this goal the scheme will seek to invest in public and private corporations classify unrated instruments and defined obligations. The Scheme will also invest in the debt instruments where the fund manager believes that the capital structure needs or where broader market dislocation has created an opportunity to generate superior risk-adjusted returns. The Scheme may also invest in debt instruments of companies requiring structured debt solutions where the fund manager believes investment in debt securities of such companies provides attractive opportunities and meets specific financing need of the issuer.

How will the Scheme benchmark its performance?

The scheme does not have a distinct benchmark. Based on the investment objective of investing predominantly in corporate debt, CRISIL Short Term Bond Fund Index is the most appropriate benchmark for the Scheme. The Index, however, seeks to track the performance of a debt portfolio that includes government securities and AAA/AA+ rated corporate bonds.

Eligibility Require for BOI AXA Credit Risk Fund

  • All Indians either singly or jointly.
  • Minor through parent/guardian.
  • Company or Private entities, undertaking in the public sectors and companies licensed under the Societies Registration Act, 1860.
  • Religious, Private and Charitable trusts
  • Partnership firms licensed under the Indian Partnership Act, 1932.
  • A Hindu Undivided Family under its Karta.
  • Limited Liability Partnerships licensed under Limited Liability Partnerships Act 2008
  • NRIs on full repatriation basis.
  • Foreign Institutional Investors and Sub Accounts registered with SEBI.
  • Army, Air-force or any other para-military applicants
  • Scientific and Industrial Research Organizations.
  • International Multilateral Agencies approved by the government of India.
  • Insurance company registered under Insurance Regulatory.

How to apply?

  • Applicants are required to make a minimum amount. Application forms, Transaction Slips for purchasing/Repurchasing the units of the scheme are accessible from AMC's ISC's/Distributors/Designated Branches.
  • Application completed and duly signed by all joint investors should be submitted to an Investor Service Center together with the cheque/draft/ or other payment option.
    All subscription cheques/drafts/payment instruments must be drawn in favour of BOI AXA Credit Risk Fund
  • Account payee should be reviewed in order to prevent deceptive activity, it is advised that the shareholders also provide the name of the single or first joint holder/ its PAN/ folio number after the name of the scheme.
  • To investors who enrol under a scheme's direct plan, they should state “Direct Plan” in the application form against the scheme title e,g BOI AXA Credit Risk Fund.
  • Investors should also include “Direct” in the ARN row of the application form.
  • Furthermore when distributor code is specified in the application form, but “Direct Plan” is indicated against the name of the scheme, the distributor code is overlooked and the application is handled under Direct Plan.
  • Therefore if the request for a regular plan is submitted without the distributor code in the ARN row. The application shall be handled under the Direct Plan.
  • Payments can be done by Cheque, Demand Draft, RTGS, NEFT or electronic transfer of funds over the Internet.

Transaction Charges

First Time Mutual Fund Investor

Transaction charge of Rs. 150/- for a subscription of Rs. 10,000 and above will be deducted from the subscription amount and paid to the distributor/agent of the first time investor and the balance shall be invested.

Investor other than First Time Mutual Fund Investor

Transaction charge of Rs. 100/- per subscription of Rs. 10,000 and above will be deducted from the subscription amount and paid to the distributor/agent of the investor and the balance shall be invested.

Features of BOI AXA Credit Risk Fund

Date of allotment- February 27, 2015

Average AUM- Rs 192.25 Crs.

Latest AUM- Rs 179.22 Crs.

Minimum application amount

Regular/ Direct Plan- Rs 5,000 and in multiples of Rs 5,000

Additional Purchase Amount

Regular/ Direct Plan- Rs 5,000 and in multiples of Rs 5,000

Top Portfolios with % of Net Assets

DRSR Logistics Private Limited- 39.10

Amanta Healthcare Limited- 27.75

RKV Enterprise Private Limited- 17.20

Accelarating Education and Development- 4.01

Dinram Holdings Private Limited- 2.15

Dewan Housing Finance Corporation Limited- 1.39

TREPS / Reverse Repo Investments / Liquid Fund Investments- 13.45

BOI AXA Credit Risk Fund NAV (As on September 30, 2019)

Regular Plan- 6.8797
Direct Plan- 6.9287

Fund Manager

Alok Singh: (February 27, 2015) Around 18 years of experience, including 14 years in mutual fund industry

 

 

 

 

Disclaimer : The details given in the mutual fund section is for informational purposes only. Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee the authenticity. The service provider has made every effort to ensure accuracy of information provided; however, neither Greynium Information Technologies Pvt Ltd, its subsidiaries and associates, nor the provider can guarantee such accuracy. This information is strictly for informational purposes only. It is not a solicitation to buy, sell in mutual funds or other financial instruments. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the service provider do not accept culpability for losses and/or damages arising based on information.
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