Axis Mutual Fund files offer document for 2050 Gilt Fund of Fund
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Axis Mutual Fund has filed offer document with SEBI to launch an open ended Target Maturity Fund scheme named ‘Axis 2050 Gilt Fund of Fund’. The New Fund Offer price is Rs 10 per unit. Entry load and will be nil and Exit load If redeemed / switched-out within 12 months will be 1%; If redeemed/switched out after 12 months from the date of allotment will be Nil. The scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by Nifty G-Sec Dec 2050 Index . The minimum application amount is Rs 5000 and multiples of Rs.10 thereafter.
The investment objective of the scheme is to generate optimal returns over long term by investing primarily in Axis 2050 Gilt ETF, an open-ended Target Maturity Exchange Traded Gilt Fund predominantly investing in constituents of Nifty G-Sec Dec 2050 Index, subject to tracking errors .
