Axis Overnight Fund – Upcoming NFO – New Fund Offer Issues in India

Axis Mutual Fund is launching its new fund namely “Axis Overnight Fund” in the NFO (New Fund Offer) during March 07, 2019, to March 12, 2019. This fund is an Open-Ended Debt fund which aims to invest in the debt and money market instruments having the maturity of one day (overnight). Axis mutual fund is sponsored by the Axis Bank, one of India’s top private sector banks. The assets of this mutual fund are managed by AMC company named Axis Asset Management Company Limited. 


Axis Overnight Fund - Upcoming NFO Issues in India 2019 - Mutual Funds

Axis Overnight Fund – Features

The upcoming mutual fund, i.e., Axis Overnight Fund has the following features:-

  • It is a debt fund which will provide a regular income with low risk.
  • It will invest in debt and money market instruments which will have the maturity of one business day.
  • The scheme will follow the Nifty 1D rate index as the benchmark.
  • The scheme has both the regular plan and the direct plan for investment.
  • Both the above plans offer growth and dividend options.
  • There is neither entry load nor exit load charged in the scheme.
  • Price of per unit of the scheme is Rs 1,000.
  • The minimum application amount required is Rs 500 for the growth scheme and Rs 5,00 for other schemes.
  • The scheme requires a minimum additional purchase amount of Rs 500 for growth option and Rs 1,0o0 for others.

Axis Overnight Fund – NFO Issue Details

Type of Issue NFO (New Fund Offer)
Scheme Name Axis Overnight Fund
Mutual Fund House Axis Mutual Fund
Type of Scheme Open – Ended
Category of Scheme Debt Fund
Issue Opens March 07, 2019
Issue Closes March 12, 2019
Offer Unit Price Rs 1,000 per unit
Minimum Investment Rs 500 to 1,000
Plans Offered Direct and Regular
Options Offered Growth and Dividend
Entry Load Nil
Exit Load Nil
Investment Manager Axis Asset Management Company Limited

Axis Overnight Fund – Proposed Asset Allocation

According to the Axis Mutual Fund, the assets of this scheme will be invested in overnight securities where minimum investment may be 0% and maximum investment may be 100% of the total asset. These securities will be debt securities which have a maturity of one business day. The investment in securitised debt may be up to 50% of the total asset which will not include the foreign securitised debts. Investments in derivatives will be up to 50% of the total asset.

The debt and money market instruments where the scheme will invest may include the third party repos, certificates of deposits, commercial papers, treasury bills (T-Bill), cash management bill, bills of exchange, securities issued by the central and the state governments, non-convertible debentures, bonds, floating rate debt instruments, pass through certificates etc.

Axis Overnight Fund – Proposed Investment Strategies

The Axis Overnight Fund will follow the investment strategies such as directional trading, gedging, imperfect hedging, arbitrage, overnight indexed swaps, interest rate swap, forward rate agreement, interest rate futures etc.

Axis Overnight Fund – Fund Manager

The fund manager of Axis Overnight Fund is Mr Aditya Pagaria.

About Axis Mutual Fund

Axis Mutual Fund was incepted in the year 2009. It is sponsored by Axis Bank Limited, one of India’s top private sector banks. The fund house is running 50 mutual funds schemes in which they have more than 20 lakh investors. They have a presence in more than 90 cities across the country. As on December 31, 2018, the total Asset Under Management (AUM) of the Axis Mutual Fund stands at Rs 81,622.25 crore.

Axis Overnight Fund – Important Documents

Click here to read the draft Scheme Information Document (SID) for more details.

Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions. 

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Tags: #Mutual Fund #Axis Mutual Fund #Upcoming NFO Issue 2019 #Axis Overnight Fund

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