Bharti Axa Investment Managers Rolled Out A New Fund - Sep 5, 2008

Bharti AXA Investment Managers has rolled out a new fund called as Bharti AXA Equity Fund. The fund offer started on September 4 and will close on October 1. The open ended equity growth fund is benchmarked to S&P CNX Nifty Index Fund Index. The fund seeks to generate long term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

65 - 100 per cent of assets will be allocated in equity and equity related securities while debt & money market securities/instruments will constitute 0 - 35 per cent. Investments in derivative instruments shall not exceed 50 per cent of net assets of the portfolio. No investments will be made in securitized debt. The issue price for the scheme is Rs. 10 per unit plus applicable load during NFO period. An investor can begin investment with a minimum investment Rs. 5,000 for retail and eco plan and Rs. 5 crore for institutional plan. The scheme comes with three unique features - quarterly dividend plan, eco plan and daily systematic investment plan. Under each of these plans, the options available are growth, bonus and regular dividend and quarterly dividend plan - offering dividend re-investment and dividend pay-out facilities. For the first time in the Indian Mutual Fund Industry, Bharti AXA Equity Fund offers investors the option of a daily SIP. Interestingly, investors can also opt for a daily systematic transfer plan by investing a lump sum in Bharti AXA Liquid Fund and transferring a specified amount to Bharti AXA Equity Fund on a daily basis. Minimum instalment for daily SIP/STP is Rs.300 and in multiples of Rs.100 thereafter.