Axis Mutual Fund to launch multicap fund on Oct 30; offer to close Nov 13

Axis Mutual Fund will launch an open-ended equity scheme that would invest in a diversified portfolio of stocks across market-caps.

The scheme called Axis Multicap Fund will open for subscription on October 30 and close on November 13.

In terms of asset allocation, the fund will deploy 80 percent of its corpus in equity and equity-related securities, and the balance in debt and money market instruments.

Speaking on the launch of Axis Multicap Fund, Chandresh Kumar Nigam, Managing Director & Chief Executive Officer, Axis Mutual Fund said, "Over long term, it has been seen that multicap funds tend to outperform large caps over a market cycle while having a comparable risk profile."

"We believe that this fund is suitable for all class of investors to help them participate in wealth creation and compounding potential of equity over the long term," he added.

Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: Rs 5,000 and in multiples of one rupee
thereafter
* Performance benchmark: S&P BSE 200 Index.
* Exit Load: 1 percent if redeemed or switched-out within 12 months from the date of allotment
* Risk: Moderately high
* Fund managers: Jinesh Gopani and Shreyash Devalkar

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