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 DetailsAxis Small Cap Fund
Issue Open11 Nov 2013
Issue Close25 Nov 2013
Issue TypeA five year close-ended equity scheme (with automatic conversion into open ended equity scheme on completion of 5 years)
Face ValueRs 10
Entry LoadNil
Asset Allocation
80 to 100Equity and equity related instruments of small cap companies
0 to 20Equity and equity related instruments of non-small cap companies
0 to 20Debt 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

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