Axis Mutual Fund files offer document for Sector Rotation Fund
Axis Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘Axis Sector Rotation Fund'. The New Fund Offer price for units would be Rs 10 each during the NFO. Entry load will be nil. Exit load -If redeemed / switched-out within 12 months from the date of allotment: For 10% of investments will be NIL; For remaining investments it will be 1%; If redeemed / switched-out after 12 months from the date of allotment it will be NIL. The Scheme offered growth as well as Income Distribution cum Capital Withdrawal option 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 during NFO will be Rs 100 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to provide long term capital appreciation from an actively managed portfolio of equity and equity related securities following sector rotation theme.
