365Telugu.com online news,Mumbai,November 9, 2024: Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – AXIS CRISIL-IBX AAA Financial Servies – Sep 2027 Index Fund. The Scheme is an open-ended Target Maturity Index Fund investing in constituents of CRISIL-IBX AAA Financial Services Index – Sep 2027, a moderate interest rate risk and relatively low credit risk. The new fund will track the CRISIL-IBX AAA Financial Services Index – Sep 2027. The fund will be managed by Aditya Pagaria. The minimum investment amount is Rs. 5,000/- and in multiples of Rs. 1/- thereafter. Currently, the exit load is Nil.
AXIS CRISIL-IBX AAA Financial Services – Sep 2027 Index Fund
The investment objective of the scheme is to provide investment returns before fees and expenses that closely correspond to the total returns of the securities as represented by the CRISIL-IBX AAA Financial Services Index – Sep 2027, subject to tracking error/ tracking difference. However, there is no assurance that the investment objective of the Scheme will be achieved. The scheme would be allocating 95% to 100% of its underlying assets in Fixed Income Instruments replicating CRISIL-IBX AAA Financial Services – Sep 2027 Index and the remaining in Debt and Money Market instruments for liquidity purposes. (Please refer to SID for detailed Asset Allocation & Investment Strategy)
The open-ended nature of such a fund means that investors can use systematic investment and withdrawal facilities to tailor entry and exit in the fund to meet investor objectives. The fund is a passively managed scheme that provides exposure to constituents of CRISIL-IBX AAA Financial Services – Sep 2027 and tracks its performance, before expenses. Furthermore, the Scheme endeavors to follow a Buy and Hold investment strategy in which debt instruments by Financial Services sector would be held till maturity unless sold for meeting redemptions/rebalancing.
Top features of the fund include:
- Index YTM: 7.72% (as of 3rd November 2024)*
- Low-Cost Passive Investment: A hassle-free solution for investors looking for a low-cost fixed income product
- High quality portfolio: Predominantly invests in AAA rated assets and balance for liquidity purpose
- Reduced Bias in Security Selection: As the fund is passively managed and replicates CRISIL-IBX AAA Financial Services Index – Sep 2027, there is reduced bias in security selection
- Simple and Easy: Target maturity Financial Services sector portfolio
*Axis AMC is not assuring/guaranteeing any returns on investment in the Scheme.
The above features are based on Index details as on 3rd November 2024
Commenting on the launch of the NFO,Mr. B. Gopkumar, MD & CEO, Axis AMC said, “Axis CRISIL-IBX AAA Bond Financial Services – Sep 2027 Index Fund is our first offering in the sectoral ‘Financial services’ based target maturity mutual fund scheme. It gives an opportunity to investors to invest in a high-quality, AAA-rated portfolio. Target Maturity Funds can be a viable option for investors seeking some degree of predictability. The newly launched scheme will be an important add-on to Axis Mutual Fund’s portfolio of passive debt offerings”
The new fund offers (NFO) open for subscription between November 08 to November 21, 2024.
For more information, please visit www.axismf.com.
Source: Axis MF Research as on 3rd Nov 2024
Product Labelling: AXIS CRISIL-IBX AAA BOND Financial Services – Sep 2027 Index Fund
AXIS CRISIL-IBX AAA BOND FINANCIAL SERVICES – SEP 2027 INDEX FUND is not a capital protection or guarantees returns scheme. Please refer to SID for detailed Investment Strategy and other scheme related features available at axismf.com