Axis Mutual Fund has filed a draft offer document with SEBI to launch its open ended Axis Dynamic Balance Fund.
The fund aims to generate capital appreciation by investing in a portfolio of equity or equity linked securities, debt securities and money market instruments.
The scheme will invest 50% in S&P CNX 500 and rest in CRISIL Composite Bond Fund Index.
The scheme will charge an exit load of 3 % if redeemed before 6 months, 2 % if redeemed before 12 months and 1% after 12 months and up to 24 months from the date of allotment. The fund will be co-managed by R Sivakumar (Fixed Income) and Jinesh Gopani (Equity).
