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Wednesday, March 18, 2015

Axis Fixed Term Plan – Series 74 (1105 Days) Floats On

NFO period is from 18 March to 23 March 2015

Axis Mutual Fund has launched a new plan named as Axis Fixed Term Plan – Series 74 (1105 Days), a close ended debt scheme. The duration of the scheme is 1105 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 18 March to 23 March 2015. 

The plan of the scheme will endeavor to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the plan. 

The scheme would have two plans - regular and direct. Both the plans will have growth option, dividend (payout facility) option and Quarterly dividend (Payout facility) option. 

The scheme will allocate 80%-100% of assets in debt instruments including Certificate of Deposits with low to medium risk and invest upto 20% of assets in money market instruments with low risk profile. Investment in securitized debt would be upto 50% of the net assets of the scheme. The scheme shall not invest in foreign securitized debt. Investment in derivatives shall be up to 50% of the net assets of the scheme. 

40% to 45% of net assets would be invested in AA rated NCDs/Bonds. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 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. 

Benchmark index for the scheme is CRISIL Composite Bond Fund Index. 

The fund manager of the scheme will be Kedar Karnik. 
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