Axis Bank promoted Axis Mutual Fund has launched its first equity fund, Axis Equity Fund. This is a diversified equity fund benchmarked to the S&P CNX Nifty.
The fund is available in two options – growth and dividend. Dividend option will further offer dividend payout and reinvestment facility. The face value of the new issue will be Rs 10 per unit. Investors can apply through a lumpsum purchase or through Systematic Investment Plans during the NFO. The minimum application amount for the scheme will be Rs 5,000. The scheme will charge an exit load of 1% if the units are redeemed within 1 year from the date of allotment.
Axis Equity Fund is open for subscription from November 11, to December 8, 2009. It will re-open for purchase and redemption on January 7, 2010.
For more info – www.axismf.com
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Axis Mutual Fund’s maiden offering Axis Equity Fund New Fund Offer can be given a miss.
Axis Equity Fund is a plain vanilla Diversified Equity Fund and will be managed by Chandresh Nigam who was earlier with ICICI Prudential Mutual fund. The Fund is open for subscription from November 11 to December 8.
Not only the Fund is new, even the Fund House is new and yet to prove its worth.
Hi! sir,
I need to know from which date will the fund be operational, and from when will we know the new NAV.
I want the new rate of NAV.
i have Rs 45000 thousand in Axia bank eqity fund i want to knew rate