Axis MF introduces Retirement Savings Fund-Conservative Plan

Axis Mutual Fund (MF) has launched the Axis Retirement Savings Fund-Conservative Plan, an open-ended retirement solution oriented scheme. The NFO opens for subscription on November 29, 2019 and closes on December 13, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against NIFTY 50 Hybrid Short Duration Debt 25:75 Index and its fund managers are Jinesh Gopani, R. Sivakumar and Hitesh Das.

The investment objective of the scheme is to generate regular income through investments predominantly in debt and money market instruments and to generate long term capital appreciation by investing certain portion of the portfolio in equity and equity related securities. The Investment Plan may also invest in units of Gold ETF or units of REITs & InvITs for income generation / wealth creation.