Axis Mutual Fund has launched a new open ended scheme, Axis Triple Advantage Fund. The new fund offer will be available from 30th June, 2010 to 29th July, 2010. The minimum investment amount of the scheme is Rs 5,000. The investment objective is to generate long term capital appreciation by investing in a diversified portfolio of equity and equity related instruments, fixed income instruments and gold exchange traded funds. The scheme would allocate 30 per cent to 40 per cent of assets in equity and equity related instruments with high risk profile. It would allocate 30 per cent to 40 per cent of assets in debt and money market instruments with low to medium risk profile. It would further allocate 20 per cent to 30 per cent of assets in gold exchange traded funds with medium risk profile. The scheme will charge an exit load charge of 1 per cent, if investment is redeemed within 1 year from the date of investment. The scheme will be managed by Mr. Chandresh Nigam and Mr. Ninad Deshpande and will be benchmark against S&P CNX Nifty, CRISIL Composite Bond Fund Index and Price of Gold.
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