Feb 7: Axis Mutual Fund has filed draft scheme document for Axis Fixed Term Plan-Series 92-95 with a tenure of 1100 days with atleast 65% portfolio exposure in AAA/A1+ rated securities.
The close ended scheme is expected to provide optimal returns over medium to long term. Investor funds will be put in debt and money market instruments mature on or before the maturity of the scheme.
There is no entry load or exit load and minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. The scheme has dividend and growth options.
The scheme will invest in Certificate of Deposit of Schedule Commercial Banks and Development Financial Institutions, Commercial Paper, Treasury Bill, Cash Management Bill, Bill of Exchange, Repos (Repurchase Agreements), Non-Convertible debentures and bonds, floating rate debt instruments, securitized assets and pass through certificate among others.