BOI AXA MF launched its new fund, BOI AXA Mid Cap Equity & Debt Fund, a mix of Mid Cap stocks (to generate growth) & Fixed Income securities (to rein-in volatility), says a press release issued by the company.
Commenting on this launch, Sandeep Dasgupta, Chief Executive Officer, BOI AXA Investment Managers, said, “While mid caps have generally outperformed large caps over the long-term they have also proven to be more volatile than large caps over the short term. By investing in a mix of mid cap equities and debt, the debt instruments offer a cushion and helps reduce the volatility of the portfolio.”
The Fund will endeavor to maintain mid cap equity allocation between 65%-68% of the portfolio. It is suitable for investors who are looking for capital appreciation and income distribution from a portfolio constituting of mid cap equity and equity related securities as well as fixed income securities.
The Fund will be benchmarked against a combination of the Nifty Midcap 100 Index (70%) and the CRISIL Short Term Bond Fund Index (30%). The Fund has a minimum application amount of Rs.5,000/-. It offers Regular Plan and Direct Plan with Growth and Dividend Re-investment & Dividend Pay-out Options. the NFO period started from June 29 and closes on July 13.
