Mutual Fund News : BOI AXA Mutual Fund files offer document for BOI AXA Overnight Fund

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BOI AXA Mutual Fund has filed offer document with SEBI to launch an open ended debt scheme named 'BOI AXA Overnight Fund'.

The investment objective of the scheme is to generate income commensurate with low risk and high liquidity by investing in overnight securities having residual maturity of 1 business day.

The performance of the scheme will be benchmarked against CRISIL Overnight Index.

The New Fund Offer price is Rs 1,000 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter. The scheme offers growth and dividend options.

It seeks to collect a Minimum Target Amount of Rs 20 crore.