Mumbai: Axis Mutual Fund has filed an offer document with SEBI to launch its open ended fund of fund scheme- Axis Life Plan.
The fund aims to generate long term capital appreciation by investing in mutual fund schemes based on a target asset allocation structure linked to the time period between current date and target date of the respective plan. The target asset allocation of the plan is designed to become more conservative & reduce risk as it approaches its target date.
The fund will invest in a range of mutual fund schemes including equity funds, debt funds, Gold ETFs and offshore funds.
Minimum Application: Rs. 5,000
Minimum Additional Purchase: Rs.100
Exit Load: 5% if redeemed/switched out within 3 years
Investment allocation
|
Instruments Indicative Allocation (% of net assets) |
Indicative Allocation (% of net assets) |
Risk Profile |
|
Equity Funds*# |
10% - 65% |
High |
|
Debt Funds# |
35% - 90% |
Low to Medium |
|
Debt & Money Market Securities |
0% - 10% |
Low to Medium |
*Includes investments of up to 10% of the net assets of the scheme in domestic gold ETFs, balanced/hybrid funds. # includes investment in offshore funds up to 10% of net assets.
The scheme will have 4 different plans - Plan 2020, Plan 2025, Plan 2030 & Plan 2035. Each plan will have a different portfolio. The name of the plan mentions the target date based on which the asset allocation will be run as per the investment strategy. Target date will be December 31 of the respective year.
The indicative allocation that the scheme will follow is mentioned below: