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Monday, July 27, 2015

Axis Equity Saver Fund Floats On

NFO period is from 27 July to 10 August 2015 

Axis Mutual Fund has launched a new fund named as Axis Equity Saver Fund, an open ended equity 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 27 July and closes subscription on 10 August 2015. 

The investment objective is to provide capital appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities and investments in debt and money market instruments. 

The scheme shall offer two options i.e. dividend (dividend payout and dividend reinvestment option with monthly and quarterly dividend frequency) and growth option under both regular and direct plan. 

The scheme will allocate 65%-80% of assets in equity & equity related securities, of which 20%-45% in equities & equity related instruments (unhedged) with high risk profile, 20%-60% in equities, equity related instruments and derivatives including index futures, stock futures, index options & stock options etc. as part of hedged / arbitrage exposure with medium to high risk profile and invest 20%-35% of assets in debt & money market instruments with low to medium risk profile. 

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 10 crore under the scheme during the NFO period. 

Entry load: Nil. 

Exit load: 1%, if redeemed / switched-out within 12 months from the date of allotment. 

Benchmark Index for the scheme is Crisil MIP Blended Fund Index. 

The fund managers of the scheme are R.Sivakumar and Jinesh Gopani. 
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