Axis Mutual Fund aims to collect Rs 50 crore from new fund

(Representative image)

Axis Mutual Fund aims to collect around Rs 50 crore from the new fund it is launching next Monday during the primary subscription period.

The fund offer -- Nifty G-Sec September 2032 index fund -- is an open-ended target maturity debt index fund investing in the constituents of the Nifty G-Sec September 2032 index.

Aditya Pagaria and Hardik Shah will be managing the new fund which has no exit load.

The new fund will open for subscription on March 6 and close on March 13, it said in a statement on Friday.

The chief business development officer at the fund house Raghav Iyengar said the company is looking at collecting at least Rs 50 crore during the primary offer period.