Axis Mutual Fund, on Nov 26, announced the launch of its new open-ended fund ‘Axis Retirement Savings Fund’, which has a lock-in of 5 years or till retirement age, whichever is earlier. The new fund offer (NFO) opens on Nov 29 and ends on Dec 13.
Chandresh Kumar Nigam, MD & CEO, Axis AMC said, “Axis Retirement Savings Fund is our small step to help investors execute the most critical part of their financial plan. Further we have designed this product keeping in mind the need to offer each investor the flexibility to navigate this journey in the manner that works best for them. Given Axis AMC’s investment philosophy that focuses on sustainable long term returns, we are confident that we can help investors reach a happy retirement”
The fund offers three investment plans: an aggressive plan where equity exposure will range between 65-80%, a dynamic plan where equity exposure will be managed between 65-100% and a conservative plan where debt exposure will range between 40 - 80%.
The fund also offers a unique and innovative feature that aims to ensure that the investor’s long term planned investments don’t fall victim to the risk of the unknown.
The iPlus SIP Insurance facility offers investors a complementary life cover that is equal to the remaining commitment of their long term SIPs. This feature will allow investors peace of mind as they can make long term investment plans keeping in mind their family and dependents. The insurance will be provided by HDFC Life Insurance Company Limited.
