Publish Date:
Axis Mutual Fund launches – Axis CRISIL IBX SDL June 2034 Debt Index Fund
It is an open-ended Target Maturity index fund investing in constituents of CRISIL IBX SDL Index – June 2034. A Relatively High Interest Rate Risk and Relatively Low Credit Risk
Accordingly, investment objective of the scheme is to provide investment returns corresponding to the total returns of the securities as represented by the CRISIL IBX SDL Index – June 2034 before expenses, subject to tracking errors. However, there can be no assurance that the investment objective of the Scheme will be achieved
Under normal circumstances, Kotak Long Duration Fund will hold an allocation of 95% to 100% in Fixed Income Instruments comprising CRISIL IBX SDL Index – June 2034 and 0% to 05% in Debt and Money Market Instruments.
[Read: Best Debt Mutual Fund Categories for 2024]
As per the Scheme Information Document, Axis CRISIL IBX SDL June 2034 Debt Index Fund is a passively managed index fund which will employ an investment approach designed to track the performance of CRISIL IBX SDL Index – June 2034.
The Scheme will follow Buy and Hold investment strategy in which debt instruments by state government securities will be held till maturity unless sold for meeting redemptions/rebalancing. The Scheme shall replicate the index completely. During normal circumstances, the Scheme’s exposure to money market instruments will be in line with the asset allocation table. However, in case of maturity of instruments in the scheme portfolio, the reinvestment will be in line with the index methodology.
Axis CRISIL IBX SDL June 2034 Debt Index Fund’s performance will be benchmarked against CRISIL IBX SDL Index – June 2034
The scheme will be managed by Mr Hardik Shah
The NFO opens for subscription on March 04, 2024 and closes on March 12, 2024. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).