Bharati AXA mutual fund has filed offer document with Securities and Exchange Board of India (SEBI) to launch Bharati AXA Short Term Income Fund. It is an open-ended income scheme. The face value of the new issue will be Rs 10 per unit. The scheme seeks to generate income and capital appreciation by investing in a diversified portfolio of debt and money market securities. The scheme will offer two plans viz. Regular and Institutional with growth & dividend options under each plan. Dividend option will further offer dividend payout and reinvestment facilities with monthly and quarterly frequency of dividend pay-out.
The minimum subscription amount under regular plan will be Rs 5,000 and in multiples of Re 1 thereafter. And the minimum amount under Institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter. The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period. The scheme will invest up to 30-100% in money market securities and debt securities including government securities, corporate debt, securitised debt and other debt instrument with average maturity less than or equal to 370 days
The minimum subscription amount under regular plan will be Rs 5,000 and in multiples of Re 1 thereafter. And the minimum amount under Institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter. The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period. The scheme will invest up to 30-100% in money market securities and debt securities including government securities, corporate debt, securitised debt and other debt instrument with average maturity less than or equal to 370 days
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