Mutual Fund News : Axis Mutual Fund files offer document for Special Situations Fund

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Axis Mutual Fund has filed offer document with SEBI to launch an open ended equity scheme named ‘Axis Special Situations Fund '.

The investment objective of the scheme is to generate long-term capital appreciation by investing in mis-priced stocks facing special situations. The mis-pricing of stocks can occur due to companies facing special situations like regulatory/policy changes, management restructuring, technology led disruption and innovation or any temporary challenges in the operating environment.

The performance of the scheme will be benchmarked against NIFTY 500 TRI.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5000 and in multiples of Re 1 thereafter.

The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 10 crore.