Axis Mutual Fund files offer document for Dividend Yield Fund
Axis Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘Axis Dividend Yield Fund'. The New Fund Offer price will be Rs 10 during the NFO. Entry load will be nil. If redeemed / switched-out within 12 months from the date of allotment: For 10% of investments exit load will be NIL; For remaining investments exit load will be 1% ; If redeemed / switched-out after 12 months from the date of allotment exit load will be Nil. The Scheme offers growth and IDCW options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance will be benchmarked against Nifty 500 TRI. The minimum application amount will be Rs. 100 and in multiples of Re 1 thereafter.
The investment objective of the scheme is provide long term capital appreciation from an actively managed portfolio of equity and equity related instruments (including REITs) of dividend yielding entities.
