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Thursday, March 05, 2009

Bharti AXA MF collects Rs.20 crore through its Regular Return Fund

Investment exposure to money market and debt securities

Bharti AXA Mutual Fund has collected Rs 20 crore via Bharti AXA Regular Return Fund during their initial offer period from 28 January to 26 February 2009. It is an open-ended income scheme. The scheme re-opens on 16 March 2009.

The scheme aims to generate regular income through investments in fixed income securities and also to generate long-term capital appreciation by investing a portion in equity and equity related instruments.

The scheme will invest up to 80%-100% in money market securities and debt securities including government securities, corporate debt, securitized debt and other debt instruments and invest up to 20% in equity and equity related securities.

The scheme will offer two plans viz. eco and regular plan with growth & dividend options. Dividend option will further offer dividend payout and reinvestment facility. Dividend reinvestment option will have with monthly, quarterly, and annual frequency of dividend re-investment. Dividend payout option for regular income will be having monthly, quarterly, and annual frequency.

The fund will not charge any entry load.

It will charge 1% of exit load if redeemed before 12 months from date of allotment. A switch out will also attract an exit load like any redemption and no exit load will be charged in case of switched made between different options of a plan in the scheme.

The performance of the scheme will be benchmarked against CRISIL MIP Blended Index.

The fund managers for the scheme are Sujoy Kumar Das and Prateek Agrawal.

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