Publish Date:
Axis Mutual Fund is to launch an open ended retirement solution oriented scheme, having a lock-in of 5 years or till retirement age (whichever is earlier). The scheme will be known as Axis Retirement Savings Fund.
The investment objective of the scheme is to provide long-term capital appreciation / income by investing in a mix of equity, debt and other instruments to help investors meet their retirement goals. However, there can be no assurance that the investment objective of the Scheme will be achieved.
The NFO opens for subscription on November 29, 2019 and closes on December 13, 2019.
Axis Retirement Savings Fund will offer 3 plans:
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Axis Retirement Savings Fund - Aggressive Plan
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Axis Retirement Savings Fund - Dynamic Plan
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Axis Retirement Savings Fund - Conservative Plan
Its performance will be benchmarked against NIFTY 50 Hybrid Composite Debt 70:30 Index, NIFTY 50 Hybrid Composite Debt 65:35 Index and NIFTY 50 Hybrid Short Duration Debt 25:75 Index, respectively.
The fund will be managed by Mr. Jinesh Gopani, Mr. R. Sivakumar and Mr. Hitesh Das (for Foreign Securities) Fund Manager.
The New Fund Offer will be priced at Rs 10 per unit and the minimum application amount for initial purchase will be Rs 5,000 and in multiples of Re 1 thereafter.