The Hindu Business Line : Axis to launch equity diversified fund

The scheme seeks to achieve long-term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity-related securities including derivatives. It will invest a minimum of 80 per cent and a maximum of 100 per cent in equity and equityrelated instruments and up to 20 per cent in debt and money market instruments. The scheme may invest in derivatives up to 100 per cent of the net assets and up to 40 per cent in foreign securities (including ADR's/GDR's/foreign equity and debt securities). The fund would be benchmarked to S&P CNX Nifty.

"Our research has shown that there is a huge demand for simplicity and trust in financial service. We, therefore, chose to launch a simple but effective product in the category of diversified equity funds," said Mr Rajiv Anand, MD & CEO, Axis AMC.

The minimum lump sum purchase that one can make is for Rs 5,000 with no restrictions on the maximum amount. The scheme is available in two options - growth and dividend. There is no entry load on the scheme. However, a 1 per cent exit load would be charged if the investor redeems or switches scheme within one year from the date of allotment

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