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Axis MF Hits Market Running

The new-to-the industry fund has unveiled a number of new schemes

Axis Asset Management Company (AMC), after getting the nod from the Securities and Exchange Board of India (SEBI) filed an offer document for its equity fund soon after that. Now, within days of that, it has gone ahead and filed offer documents for three more funds.

They are Axis Liquid Fund, Axis Treasury Advantage fund and Axis Tax Saver Fund. Here are the details:

Axis Liquid Fund
An open-end liquid scheme, whose corpus will be invested in money market and debt instruments with maturity/average maturity/residual maturity/interest rate reset not greater than 91 days. The scheme can invest up to 50 per cent of the net assets in foreign securities too.

The units are valued at Rs 1,000 each. The fund would be managed by Ninad Deshpande.

Axis Treasury Advantage fund
An open-end debt scheme, it retains the flexibility to invest across all securities in the debt and money market instruments. The scheme may also invest in units of debt and liquid mutual fund schemes. The portfolio may hold cash depending on market conditions. The scheme may also invest in suitable investment avenues in foreign securities in overseas financial markets for the purpose of diversification.

Units are valued at Rs 1,000 each. This fund would also be managed by Ninad Deshpande.

Axis Tax Saver Fund
This one too is an open-end fund, except that it is an  equity-linked savings scheme. It would invest in equity and equity-related instruments, debt instruments, money market instruments and other permitted securities. The units are valued at Rs 1,000 each. The fund would be managed by Chandresh Nigam.