Moneycontrol Be a Pro
Get App
Last Updated : Nov 18, 2015 07:52 AM IST | Source: PTI

Axis MF expects to raise Rs 700cr from Children's Gift Fund

While 40-60 percent of the fund will be invested in equity, remaining amount would go to debt and cash future arbitrage. The fund will comprise two plans - direct plan and regular plan - with each offering two sub plans, compulsory lock-in and no lock-in

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Axis Mutual Fund, which launched an open-ended balanced scheme Children's Gift Fund here today, expects to raise Rs 700 crore through the fund. The fund, which opens on November 18, will close on December 2. It will reopen for continuous sale and repurchase on or before December 14.


"We are looking at mopping up Rs 600-700 crore from the Children's Gift Fund during the NFO period itself," Axis Mutual Fund managing director and chief executive Chandresh Kumar Nigam told reporters on the sidelines of the launch.

"While 40-60 percent of the fund will be invested in equity, remaining amount would go to debt and cash future arbitrage. The fund will comprise two plans - direct plan and regular plan - with each offering two sub plans, compulsory lock-in and no lock-in," he said.

Some of the fund houses which are already having children fund include HDFC MF, UTI MF and LIC Nomura MF. Even as retail AUM (Assets Under Management) of the mutual fund industry currently stands at over Rs 3 trillion, merely 1 percent of this AUM is being contributed by children's fund.

Close


Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Nov 17, 2015 09:15 pm
Loading...
Follow us on
Available On