Wednesday, 16 March 2011

Axis Fixed Term Plan - Series 13 (370 days)

Axis Mutual Fund issued Mew Fixed Maturity Plan (FMP) Named Axis Fixed Term Plan - Series 13 (370 days). This is a 370 days closed ended income Scheme and one can redeem only on 370 days of allotment. The objective of the scheme is to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the respective plan(s). The issue of FMP is already opened on 14th March, 2011 and the closing date is 22nd March, 2011. The price of one unit is Rs. 10 and the minimum required investment is Rs. 5000 and in multiples of Rs. 10 thereafter.

The Scheme plans to deposit 100% of assets in Government of India dated Securities and Treasury Bills, PSU & Corporate Bonds/Debt Instruments, Money Market Instruments. The debt related investments may be around 40% of the net assets. The mutual fund will be listed in National Stock Exchange (NSE) and there is not entry load or exit load for the scheme. The Scheme plans to accumulate around Rs. One Crore during the NFO period and the Benchmark Index is CRISIL Liquid Fund Index. The name of the fund managers are Mr. Ninad Deshpande and Mr. Sivakumar.

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