Thursday, 28 July 2011

Axis Hybrid Fund - Series 1 Launched

Axis Mutual Fund issues a New Fund Offer named Axis Hybrid Fund - Series 1, a close ended income scheme for 3 years which opens on 28th July, 2011. You can subscribe the New Mutual Fund (Fixed Maturity Plan) form today (28th July, 2011) to 11th August, 2011. The face value of one Single unit of the mutual fund is Rs. 10 and the minimum required investment should be Rs. 5000 and multiples of Rs. 10 thereafter. There is no entry load or exit load for the fund.

The primary objective of the Axis Hybrid Fund – Series 1 is to generate income by investing in high quality fixed income securities whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.

You can choose among the two options of the scheme which are growth option and Dividend option. The scheme plans to allocate around 65% to 95% of the accumulated money in debt and money market instruments which has a low or medium risk profile and around 5% to 32% money in equity related instruments with high risk profile. The Scheme plans to collect around Rs. 1 crore through the New Fund Offer. The Axis Hybrid Fund - Series 1 will be listed in NSE and also plan to be listed in any other stock exchange in India.

As a long term closed ended scheme the Fund has a good possibility to attain its goal easily.

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