Axis Mutual Fund, one of the largest fund houses in India, has launched a New Fund Offer – Axis CRISIL IBX 50:50 Gilt Plus SDL September 2027 Index Fund. It is an open-ended target maturity index fund that invests in the constituents of CRISIL IBX 50:50 Gilt Plus SDL Index with a maturity date of September 30, 2027 and has relatively high-interest rate risk and relatively low credit risk. Aditya Pagaria and Sachin Jain will co-manage the new fund, which will follow the CRISIL IBX 50:50 Gilt Plus SDL Index till September 2027. The minimum investment amount is Rs. 5,000, and thereafter, multiples of Rs. 1 without exit load. The date of NFO is from February 08 to February 21, 2023.
The investment objective of the scheme is to provide investment returns, subject to tracking errors, equal to the total return of the securities represented by CRISIL IBX 50:50 Gilt Plus SDL Index up to September 2027. In this scheme, 95% to 100% of the underlying securities will be held in CRISIL IBX 50 :50 Gilt Plus SDL Index, with the remaining securities being allocated to debt and money market instruments such as treasury bills and government securities with a residual maturity of up to one year .
By giving exposure to the constituents of CRISIL IBX 50:50 Gilt Plus SDL Index – September 2027 and monitoring its performance and yields prior to the expense, the scheme will be a passively managed scheme by Axis Mutual Fund. High quality G-Sec and SDL portfolio funds with potential returns, low cost passive investment, no bias in security selection, target maturity, and indexation benefits are some of the top features.
Commenting on the launch of the NFO, Chandresh Nigam, MD & CEO, Axis AMC said, “The current yield curve presents a material opportunity for an investor with a medium to long-term investment horizon. Axis CRISIL IBX 50:50 Gilt Plus SDL September 2027 Index Fund offers investors an opportunity to invest in a high quality portfolio with minimal default risk. The ‘held to maturity’ nature of target maturity strategies is intended to reduce duration risk for investors who remain invested throughout the life of the fund. The newly launched scheme will be a valuable add on to the portfolio of passive debt offerings of Axis Mutual Fund.”
Axis AMC is one of the asset managers in India with the fastest growth rate, offering a wide range of asset management solutions. Axis Mutual Fund, Axis Securities Limited, Axis Finance, Axis Trustee, Axis Capital, A.Trades Limited, Freecharge and Axis Bank Foundation are all part of the Axis Group.
catch all mutual fund news And updates on Live Mint. download mint news app To get daily market update & Live business News,