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Thursday, May 29, 2014

Axis Hybrid Fund Series 13 Floats On

NFO period is from 29 May to 10 June 2014 

Axis Mutual Fund has launched a new fund named as Axis Hybrid Fund Series 13, a 1275 days close ended debt scheme. During the New Fund Offer (NFO) period the units will be offered for Rs 10 each. The new issue is open for subscription from 29 May and close subscription on 10 June 2014. 

In order to provide liquidity, the units of the scheme will be listed on the capital market segment of the NSE and/ or any other Stock Exchange. 

This product is suitable for investors who are seeking capital appreciation while generating income over medium to long term. The scheme invests in debt and money market instruments as well as equity and equity related instruments with medium risk – Yellow. 

The primary objective is to generate income by investing in high quality fixed income securities that are maturing on or before the maturity of the scheme whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments. 

The scheme shall offer two options i.e. dividend (dividend payout facility) and growth option.
The scheme will allocate 70% to 95% of assets in debt instruments including securitized debt with low to medium risk profile, invest upto 25% of assets in money market instruments with low risk profile and it would allocate 5% to 30% of assets in equity and equity related instruments with high risk profile. Investment in securitized debt would be up to 50% of the net assets of the scheme. The scheme shall not invest in foreign securitized debt. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be not applicable for the scheme. 

Benchmark Index for the scheme is Crisil MIP Blended Index. 

The fund managers of the scheme are Devang Shah and Jinesh Gopani.
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