Axis Mutual Fund Fixed Term Plan – Series 93 scheme’s maturity period has been extended, the fund house announced the news.
Accordingly, the maturity period of the Axis Fixed Term Plan – Series 93 has been extended from 91 days to 182 days. The extended maturity date of the scheme is March 12, 2019.
The objective of the closed-end debt FMP scheme is to produce returns through a portfolio of debt and money market securities maturing on or before the maturity period of the scheme.
The Axis Mutual Fund has designated Mr. Devang Shah as the fund manager of the closed-end debt FMP scheme. Chandresh Nigam is the CEO and Darshan Kapadia is the Investor Relations Officer.
Mr. Shah who has been managing the Axis Fixed Term Plan – Series 93 scheme since June 2018, has worked with Deutsche Asset Management (India) Pvt. Ltd., and Pricewaterhouse Coopers, before joining the Axis Asset Management Company. He holds B.Com and ACA as his educational qualifications.
The Axis Mutual Fund Fixed Term Plan – Series 93 scheme was launched in June 2018. The performance of the Fixed Maturity Plan is benchmarked against the CRISIL Short-Term Bond Index.
The scheme will invest 100 percent of its assets in debt instruments and other securities except for equity instruments. The Fixed Term Plan offers both Regular and Direct Plans with Growth and Dividend Options.
The NAV (Net Asset Value) of the scheme as on September 07, 2018, is 10.1802 Rupees. The AUM (Asset Under Management) of the Fixed Maturity Plan is 154.21 Crore Rupees. The expense ratio of the scheme is 0.16 percent.
The minimum initial investment amount for the closed-end debt FMP scheme is 5000 Rupees. The Face Value of the scheme is 10.00 Rupees per unit, and the Fund Size of the scheme is 30.06 Crore Rupees, according to The Economic Times.
Axis Mutual Fund Fixed Term Plan – Series 93 scheme has announced the rollover on September 07, 2018, according to KJMC.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]