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Axis Mutual Fund (MF) has launched the Axis Floater Fund, an open-ended debt scheme predominantly investing in floating rate instruments. The NFO opens for subscription on July 12, 2021, and closes on July 26, 2021. The Entry load is not applicable for the scheme. The Exit load is nil for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The performance of the scheme shall be benchmarked against NIFTY Ultra Short Duration Debt Index and its fund manager is Aditya Pagaria.

The investment objective of the Scheme is to generate regular income through investment in a portfolio comprising predominantly of floating rate instruments and fixed rate instruments swapped for floating rate returns. The Scheme may also invest a portion of its net assets in fixed rate debt and money market instruments.