MUTUAL FUNDS
Axis Mutual Fund files offer document for Overnight Fund
Dec-12-2018

Axis Mutual Fund has filed offer document with SEBI to launch an open-ended debt scheme named ‘Axis Overnight Fund’. The New Fund Offer price is Rs1000 per unit. Entry load and Exit Load will be nil. The scheme offers dividend and growth options and seeks to collect a Minimum Target Amount of Rs 20 crore.

The performance of the schemes will be benchmarked by NIFTY 1D Rate Index .The minimum application amount for initial purchase is Rs 500 and in multiples of Re 1.

The investment objective of the scheme is to provide reasonable returns commensurate with very low interest rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity/residual maturity of 1 business day.

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