Axis Money Market Fund
Money Market Fund is also a type of mutual fund investment. But it invests only in highly liquid instruments. MM Funds seek to limit exposure to losses due to credit, market, and liquidity risks. According to stock exchange updates, a new fund offering from Axis Money Market Fund.
Axis Mutual Fund has announced its new fund offer name as Axis Money Market Fund. It is scheduled for subscription on 26th July and will close on 1st August 2019.
Basic Details of Axis Money Market Fund
|Fund House||Axis Mutual Fund|
|NFO Period||26th July 2019 to 1st August 2019|
|Benchmark||Nifty Money Market|
|Minimum Investment||Rs. 5,000 and in Multiples of Re. 1 thereafter|
|Return Since Launch||0.43%|
It is an open-ended debt fund. The investment objective is to generate regular income through investment in a portfolio comprising of money market instruments.
The scheme is available in direct and regular plans. A new fund offer has follows growth and dividend options under both plans. Entry and Exit loads do not exist for anyone.
The NFO units of Rs 1000 per unit. Investors need to invest a minimum of Rs 5000 and in multiples of Re. 1 thereafter. The Additional purchase of a minimum of Rs 1,000 and in multiples of Re. 1 thereafter.
Asset Allocation Pattern
|Instruments||Indicative Allocation (% of Net Assets) ( Minimum-Maximum)||Risk Profile (High/Medium/Low)|
|Money Market Instruments||0% to 100%||Low|
It will invest in high-quality short term investments with high-grade short term ratings. The scheme is suitable for investors who are seeking regular income over the shorts term. Also for those who want to Investment in debt and money market instruments with maturity up to one year. It is ideal for investors with an investment horizon of up to 3 to 6 months.
The performance of the scheme will benchmark against the Nifty Money Market Index. Mr. Devang Shah, Deputy Head fixed income and Adity Pagaria, Fund Manager- Fixed Income should manage Axis Money Market Fund.
Disclaimer: This article gives only information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.