Axis Mutual Fund launches Dynamic Bond Fund

Axis Mutual Fund has launched a new fund as Axis Dynamic Bond Fund, an open ended debt scheme. The objective of the scheme will endeavor to generate optimal returns while maintaining liquidity through active management of a portfolio of debt and money market instruments.

The New Fund Offer (NFO) will be open for subscription from April 6, and close on April 20, 2011. The fund will re-open for continuous sale and repurchase on or before May 3, 2011. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.  (View - New Fund Offers open NOW)

The fund offers growth and dividend option. Dividend option offers Quarterly Dividend (Payout & Reinvestment), Half Yearly Dividend (Payout & Reinvestment). (Check out -Mutual Fund New Fund Listings)

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

Entry load - nil. The exit load charge will be 0.50% if redeemed / switched out within 6 months from date of allotment.

The fund will allocate upto 100% of assets in debt instruments including Government Securities and corporate debt with low to medium risk profile. On the other side it would allocate upto 100% of assets in money market instruments with low risk profile. Debt instruments include securitized debt upto 30% of the net assets of the scheme. Investments in derivatives shall be up to 75% of the net assets of the scheme.

The benchmark Index for the fund is CRISIL Composite Bond Fund Index.

The fund will be managed by Mr. R. Sivakumar and Mr. Ninad Deshpande.

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