Axis Mutual Fund files offer document for its Retirement Planning Fund
Axis Mutual Fund has filed a draft offer document with SEBI for its open ended retirement benefit scheme called – Axis Retirement Planning Fund.
The scheme aims to generate long-term capital appreciation by investing in equity and equity related instruments along with income generation by investing in debt and money market instruments. The scheme will be investing 65%-75% in equity and equity related instruments and 25%-35% in debt and money market instruments.
The benchmark of the scheme is CRISIL Balanced Fund Index. The exit load if redeemed within 1 year of allotment will be 3%, if redeemed after 1 year but before 2 years will be 2%, if redeemed after 2 years but before 3 years will be 1% and there will be no exit load after 3 years.
The fund will be co-managed by Pankaj Murarka and R Sivakumar.
