Axis Mutual Fund has filed offer document with SEBI to launch a close-ended debt scheme named ‘Axis Fixed Term Plan – Series 104 – 106’. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The scheme offers growth options and seeks to collect a Minimum Target Amount of Rs 20 crore.
The performance of the will be benchmarked by NIFTY Liquid Index for Scheme(s) having maturity of upto 3 months from the date of allotment (including date of allotment), NIFTY Short Duration Debt Index for scheme(s) having maturity of more than 3 months up to 36 months from the date of allotment (including date of allotment) and NIFTY Composite Debt Index for scheme(s) having maturity of more than 36 months from the date of allotment. The minimum application amount for initial purchase is Rs 5000 and in multiples of Rs 10 thereafter.
The investment objective of the scheme is to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the Scheme.