Axis MF today announced the launch of its money market fund. The scheme is open for subscription from today.
According to a company press release, the scheme will invest in money market instruments of issuers having high credit quality. Money market instruments are short-term debt instruments that allow businesses to borrow for their short-term liquidity needs. Overall, the scheme aims is to generate regular income while keeping risks contained.
Money market funds have risen into the spotlight as an ideal alternative for investors looking at parking short term funds in high quality liquid assets. This category of funds lies between the liquid fund, ultrashort term and low duration categories of mutual funds and is ideal for investors with an investment horizon of up to 3-6 months, says the company.
Talking about the scheme. Chandresh Kumar Nigam, MD & CEO, Axis MF said, “Axis AMC has always believed in offering the best quality products to our investors whatever their needs be and to deliver consistent performance in every fund that we manage. We believe that the money market fund will be a valuable addition to our bouquet and will provide our investors with a significant new tool to manage their short term investment objectives.”
Devang Shah, Deputy Head – Fixed Income and Aditya Pagaria, Fund Manager – Fixed Income will manage the fund.
