Publish Date:
Axis Mutual Fund has launched an open ended retirement solution oriented scheme, having a lock-in of 5 years or till retirement age (whichever is earlier). The scheme is 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.
Axis Retirement Savings Fund offers 3 plans:
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Axis Retirement Savings Fund - Aggressive Plan
The investment objective of Axis Retirement Savings Fund - Aggressive Plan is to generate capital appreciation by predominantly investing in equity and equity related instruments. The Investment Plan may also invest in debt and money market instruments, units of Gold ETF or units of REITs & InvITs for income generation / wealth creation.
The performance of this plan will be benchmarked against NIFTY 50 Hybrid Composite Debt 70:30 Index.
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Axis Retirement Savings Fund - Dynamic Plan
The investment objective of Axis Retirement Savings Fund - Dynamic Plan is to generate capital appreciation by investing in equity and equity related securities as well as generating income by investing in debt and money market securities, while attempting to manage risk from the market through active asset allocation. The Investment Plan may also invest in units of Gold ETF or units of REITs & InvITs for income generation / wealth creation.
The performance of this plan will be benchmarked against NIFTY 50 Hybrid Composite Debt 65:35 Index.
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Axis Retirement Savings Fund - Conservative Plan
The investment objective of Axis Retirement Savings Fund - Conservative Plan is to generate regular income through investments predominantly in debt and money market instruments and to generate long term capital appreciation by investing certain portion of the portfolio in equity and equity related securities. The Investment Plan may also invest in units of Gold ETF or units of REITs & InvITs for income generation / wealth creation.
The performance of this plan will be benchmarked against NIFTY 50 Hybrid Short Duration Debt 25:75 Index.
The fund will be managed by Mr. Jinesh Gopani, Mr. R. Sivakumar and Mr. Hitesh Das (for Foreign Securities) Fund Manager.
The NFO opens for subscription on November 29, 2019 and closes on December 13, 2019.
The New Fund Offer is priced at Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.