Axis MF Launches Income Fund

Axis Mutual Fund has launched a new fund named as Axis Income Fund, an open ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 9 March and will close on 21 March 2012. The scheme re-opens on or before 3 April 2012.

Investment Objective:
The investment objective of the scheme will endeavor to generate optimal returns in the medium term while maintaining liquidity of the portfolio by investing in debt and money market instruments.

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

Allocation of funds:
The scheme would allocate upto 100% of assets in debt and money market instruments with low to medium risk profile.

Basic Details:
NFO Opens: March 9, 2012
NFO Closes: March 21, 2012
NFO Price: Rs 10 per unit
Benchmark: CRISIL Composite Bond Fund index.
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 5000 and in multiples of Rs 1 thereafter
Exit Load: 0.75% if redeemed / switched out within 12 months from date of allotment.
Listing:BSE
Fund Manager:Mr. Sivakumar and Ninad Deshpande.

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