Axis Mutual Fund has launched a new fund as Axis Triple Advantage Fund, an open ended hybrid fund. The Investment objective of the scheme is to generate long term capital appreciation by investing in a diversified portfolio of equity and equity related instruments, fixed income instruments & gold Exchange Traded Funds.
The New Fund Offer (NFO) open for subscription from June 30, 2010 to July 29, 2010. The scheme re-opens for continuous sale and repurchase on or before August 28, 2010. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.
The scheme offers growth and dividend option. Dividend option offers payout and reinvestment facility.
The minimum subscription amount is Rs 5,000 and in multiples of Re 1/- there after. For additional purchases Rs 1000 and in multiples of Re 1 thereafter.
Entry Load: Nil, Exit Load: 1% if redeemed / switched - out within 1 year from the date of allotment.
The scheme would allocate 30% - 40% of assets in equity and equity related instruments. It would allocate 30% to 40% of assets in debt & money market instruments. It would further allocate 20% to 30% of assets Gold Exchange Traded Funds.
The Scheme performance would be benchmarked against a customized composite benchmark consisting of S & P CNX Nifty (35%), CRISIL Composite Bond Fund Index (35%) and INR Price of Gold (30%).
The scheme will be managed by Mr. Chandresh Nigam and Mr. Ninad Deshpande.
Source: http://www.moneycontrol.com/news/mf-news/axis-mutual-fund-launches-triple-advantage-fund-_467211.html
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