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Axis MF launches Axis Income Saver

The new scheme will have limited equity exposure of maximum 35 per cent

Axis Mutual Fund today announced the launch of Axis Income Saver. The fund will allocate assets between equity and debt with equity exposure capped at a maximum 35 per cent.

This scheme is suitable for investors who are looking for an investment option that combines debt with equity to generate regular income along with capital appreciation, while managing risk through asset allocation.

Axis Income Saver will be open for subscription from May 24, 2010 to June 16, 2010. Investors can apply through a lump sum purchase during the NFO, while the SIP and STP options will be available post the NFO period.

The minimum purchase amount for lump sum applications is Rs 5,000 with no restrictions on the maximum amount. The fund will be managed by  Ninad Deshpande (fixed income) and Pankaj Murarka (equity).