Publish Date:
Axis Mutual Fund has launched – Axis NIFTY G-Sec September 2032 Index Fund
It is an open-ended Target Maturity Debt index fund investing in constituents of NIFTY G-Sec September 2032 Index. A Relatively High Interest Rate Risk and Relatively Low Credit Risk.
Accordingly, the investment objective of the scheme is to provide investment returns corresponding to the total returns of the securities as represented by the NIFTY G-Sec September 2032 Index before expenses, subject to tracking errors. However, there is no assurance that the investment objective of the Scheme will be achieved.
Under normal circumstances, Axis NIFTY G-Sec September 2032 Index Fund will hold an allocation of 95% to 100% of its assets in Debt Instruments comprising NIFTY G-Sec September 2032 Index and 0% to 5% in Debt & Money Market Instruments.
As per the Scheme Information Document, Axis NIFTY G-Sec September 2032 Index Fund is a passively managed index fund which will employ an investment approach designed to track the performance of NIFTY G-Sec September 2032 Index.
The scheme will follow Buy and Hold investment strategy in which debt instruments will be held till maturity unless sold for meeting redemptions/rebalancing. The Scheme shall replicate the index completely. In case the Scheme is not able to replicate the index the Fund Manager may invest in other issuances within the limits specified and subject to conditions laid down by SEBI circular dated May 23, 2022, as amended from time to time.
Axis NIFTY G-Sec September 2032 Index Fund’s performance will be benchmarked against NIFTY G-Sec September 2032 Index
The scheme will be managed by Mr Aditya Pagaria and Mr Hardik Shah
The NFO opens for subscription on March 06, 2023, and closes on March 13, 2023. The schemes will reopen for continuous sale and repurchase on Within five Business Days from the date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000/- and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.