NFO opens on 30 May, 2012 and closes on 7 June, 2012
Axis Mutual Fund has announced the NFO Axis Banking Debt Fund, an open ended debt scheme.
The investment objective of the scheme is to generate stable returns by investing predominantly in debt and money market instruments issued by banks.
The NFO opens for subscription on May 30, 2012 and closes on Jun 7, 2012. This scheme would primarily invest in Bank Certificate of Deposits (CD) to exploit the higher yield in the 3 month segment.
During the NFO period, the units of the scheme will be offered at Rs 1000 per unit and at NAV based prices thereafter. No entry and exit load charge is applicable for the scheme. The scheme offers dividend payout and growth option.
The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs 5000 and in multiple of Rs 10 thereafter. The fund manager of the scheme will be Mr. Ninad Deshpande and Mr. Sivakumar.
Source: Accord Fintech
