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Wednesday, June 17, 2009

Bharti AXA Build India Fund files documents with Sebi

Investments will be in companies that are expected to benefit from the growth and development of Infrastructure

Bharti AXA mutual fund has filed an offer documents with Securities and Exchange Board of India (Sebi) to launch Bharti AXA Build India Fund. The face value of the unit will be Rs 10 per unit.

The scheme will endeavour to generate long term capital appreciation through a portfolio of predominantly equity and equity related securities of companies that are expected to benefit from the growth and development of infrastructure in India.

The scheme will offer two plans i.e. regular, eco, institutional and super institutional plans. Each of the plans will be having following options: growth, quarterly and regular dividend options. Dividend options will further offer dividend payout and reinvestment facilities.

The scheme may invest 65-100% in equity and equity related securities of companies that are expected to benefit from the growth and development of Infrastructure in India with high risk profile. It will have investment up to 35% in equity and equity related securities of other companies with high risk profile. The fund will invest up to 35% in debt & money market securities/instruments with low to medium. Investments in derivative instruments shall not exceed 50% of net assets of the portfolio. No investments will be made in securitized debt.

Regular plan will ask entry load of 2.50% for application less than Rs 5 crore and nil for application of Rs 5 crore and above. Eco plan will charge 2.50% while institutional and super institutional plan will not levy entry load.

Regular and eco plan will charge an exit load of 1.00% if redeemed within six months from the date of allotment. Institutional plan may levy exit load of 0.25% if redeemed within 3 months from the date of allotment. Super institutional plan will not charge an exit load.

The minimum investment amount under regular and eco plan is Rs 5,000 and in multiples of Re 1 thereafter and minimum investment amount institutional and super institutional plan is Rs 5 crore and Rs 25 crore, respectively.

The Fund seeks to collect a minimum subscription amount of Rs 1 lakh during NFO.

The performance of the scheme is being benchmarked against BSE 100 Index.

The investments under the scheme will be managed by Prateek Agrawal.

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