Axis Mutual Fund has filed a draft offer document with SEBI to launch its open ended Axis Money Market Fund. The scheme aims to generate excessive returns by investing in money market instruments which carry low risk and provide high degree of liquidity.
The benchmark of the scheme is CRISIL Liquid Fund Index. The minimum application amount will be Rs 5000 while the minimum additional purchase amount will be Rs 1000. No exit load will be charged in the scheme. The scheme will be co-managed by Kedar Karnik and Devang Shah.
