Axis Mutual Fund files offer document for Nifty Midcap 150 Index Fund
Axis Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Axis Nifty Midcap 150 Index Fund'. The New Fund Offer price will be Rs 10 during the NFO. Entry load will be nil. If redeemed/ switched out within15 days from the date of allotment exit load will be 0.25%; If redeemed/ switched out after 15 days from the date of allotment exit load will be Nil. The Scheme offers growth option only for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.
The performance will be benchmarked against Nifty Midcap 150 TRI. The minimum application amount will be Rs. 100 and in multiples of Rs 10 thereafter.
The investment objective of the scheme is to provide returns before expenses that correspond to the performance of Nifty Midcap 150 TRI.
