Axis Mutual Fund unveils Axis Gold Fund

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Axis Mutual Fund unveils Axis Gold Fund
Axis Mutual Fund has unveiled a New Fund Offer (NFO), namely, Axis Gold Fund. It's an open-ended debt scheme.

Investment Objective:
The investment objective of the Scheme is to seek to generate returns that closely corresponds to
returns generated by Axis Gold ETF.

The fund targets to raise a minimum subscription of Rs 20 lakh under the scheme during the NFO period.

Allocation of funds:
The scheme shall invest 95-100% in the units of gold ETFs (primary axis gold ETF) with medium risk profile and invest upto 5% in the money market instruments with low to medium risk profile.

Basic Details:
NFO Opens: September 30, 2011
NFO Closes: October 14, 2011
NFO Price: Rs 10 per unit
Options: Growth and Dividend (Payout and Reinvestment)
Minimum Application Amount: Rs 5,000 per application and additional Re 1, thereafter
Minimum SIP: Rs 1,000
Exit Load: 1% if units are redeemed /switched out within 1 year from the date of allotment
Benchmark: Domestic price of gold
Fund Manager: Mr. Anurag Mittal

Read more about: mutual funds, gold, gold etf, nfo
Story first published: Tuesday, September 27, 2011, 13:09 [IST]
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