Axis Mutual Fund has launched a new close ended equity scheme named “Axis Small Cap Fund”.Axis Small Cap Fund
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription from 11 Nov and will close on 25 Nov 2013.
Axis Small Cap Fund is a 5-year close-ended equity fund that will focus on investing at least 80% of its assets in small-cap stocks (stocks that are in market-cap range of the CNX Smallcap Index). The fund will automatically become an open-ended fund at the end of 5 years.
As even quality picks in the small-cap space would require a buy and hold approach, the fund’s close-ended nature is likely to help implement this without pressure of redemptions.
|Issue Details||Axis Small Cap Fund|
|Issue Open||11 Nov 2013|
|Issue Close||25 Nov 2013|
|Issue Type||A five year close-ended equity scheme (with automatic conversion into open ended equity scheme on completion of 5 years)|
|Face Value||Rs 10|
|80 to 100||Equity and equity related instruments of small cap companies|
|0 to 20||Equity and equity related instruments of non-small cap companies|
|0 to 20||Debt and money market instruments|
Axis Small Cap Fund is Close ended fund, so you can not exit before convert to open ended. Dividend Payout option is best for Investment point of view