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Axis Mid Cap Fund - Growth

Axis Midcap Fund(G)
Dividend Yearly
NA
Category
Equity - Mid Cap
52-week NAV high
38.30  (As on 30-08-2018)
52-week NAV low
32.03  (As on 23-10-2018)
Expense
2.37%  (As on 28-02-2019)

Performance

1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
Fund Returns 4.82 0.71 -0.36 9.75 14.83 16.46 9.14 19.95 -
Scheme Details
Fund Type
Open Ended
Investment Plan
Growth
Bonus
NA
Launch Date
Feb 18, 2011
Last Dividend
NA
Minimum Investment
5000

One of the many schemes offered by Axis is the Axis Mid Cap Fund. It is an open-ended equity scheme which predominantly invests in Mid Cap stocks. The scheme has been framed as per the prescription of the Securities and Exchange Board of India (Mutual Funds) Regulations 1996.

Investment Objective of the Axis Mid Cap Fund - Growth

The investment objective of the Axis Mid Cap Fund - Growth is to generate long term capital appreciation through investments predominantly made in equity and other instruments related to equity of Mid Cap companies.

Key Features of the Axis Mid Cap Fund - Growth

Listed below are some of the important features of the Axis Mid Cap Fund - Growth:

Type of fund

Open-ended Equity Scheme

Plans available

  • Axis Mid Cap Fund (Existing Plan)
  • Axis Mid Cap Fund - Direct Plan

Options under each plan

  • Growth
  • Dividend (Payout and Reinvestment Facility)

Risk

Moderately High

Systematic Investment Plan

Available

Systematic Transfer Plan

Available

Systematic Withdrawal Plan

Available

Investment Amount for the Axis Mid Cap Fund - Growth

Minimum application amount

Rs.5,000 and in multiples of Re.1 thereafter

Minimum additional investment

Rs.100 and in multiples of Re.1 thereafter

Minimum instalment for Systematic Investment Plan (SIP)

  • Monthly Frequency: 12 instalments - Rs.1,000 (in multiples of Re.1)
  • Yearly Frequency: 3 instalments - Rs.12,000 (in multiples of Re.1)

Minimum instalment for Systematic Withdrawal Plan (SWP)

  • Monthly Option: Minimum value - Rs.1,000 (Additional amount in multiples of Re.1) - Min. Number of SWP - 6
  • Quarterly Option: Minimum value - Rs.1,000 (Additional amount in multiples of Re.1) - Min. Number of SWP - 4
  • Half Yearly Option: Minimum value - Rs.1,000 (Additional amount in multiples of Re.1) - Min. Number of SWP - 4
  • Yearly Option: Minimum value - Rs.1,000 (Additional amount in multiples of Re.1) - Min. Number of SWP - 2

Entry Load

Not Applicable

Exit Load

  • If redeemed before the completion of 12 months from the date of allotment:
    • Nil - for 10% of the investments
    • 1% - for the remaining investments
  • If redeemed after the completion of 12 months from the date of allotment: Nil

Asset Allocation for the Axis Mid Cap Fund - Growth

Instruments

Indicative Allocations(percentage of total assets)

Risk Profile

Minimum

Maximum

High/Medium/Low

Equity and instruments related to equity of Mid Cap companies

65%

100%

High

Equity and instruments related to equity of non Mid Cap companies

0%

35%

High

Debt and Money Market Instruments

0%

35%

Low to Medium

Who can Invest in the Axis Mid Cap Fund - Growth?

The following entities can invest in the Axis Mid Cap Fund - Growth:

  • Resident Individuals
  • Hindu Undivided Family (HUF)
  • Partnership Firms
  • Proprietorship which is under a sole proprietor
  • Limited Liability Partnerships
  • A natural guardian or a guardian appointed by court can invest on behalf of a minor
  • Companies
  • Public Sector Undertakings (PSUs)
  • Bodies Corporate
  • Bodies of Individuals (BOI)
  • Association of Persons (AOP)
  • Religious and Charitable Trusts
  • Non-Resident Indians (NRIs)
  • Banks and Financial Institutions (banks include both Co-operative Banks and Regional Rural Banks (RRBs)
  • Persons of Indian Origin (PIOs)
  • Foreign Portfolio Investors (FPI) who are registered under SEBI
  • Overseas Citizen of India (OCI)
  • Bodies and units created by Army
  • Bodies and units created by Navy
  • Bodies and units created by Air Force
  • Bodies and units created by other paramilitary units
  • Scientific and Industrial Research Organisations
  • Multilateral Funding Agencies
  • RBI
  • Bodies Corporate incorporated outside India with the permission of the Government of India and so on.

NAV Disclosure and Benchmark for the Axis Mid Cap Fund - Growth

The net assets of the Scheme will be divided by the number of units outstanding to ascertain the Net Asset Value (NAV) of each unit under the scheme. This NAV will vary from day to day of valuation. The value of the investments will be calculated by the Mutual Fund in accordance with the valuation norms specified in Schedule VIII of the Securities and Exchange Board of India (Mutual Funds) Regulations. The formula used for calculating the Net Asset Value (NAV) of the units under the scheme is:

NAV (Rs.) = (Market or Fair Value of Scheme Investments + Current Assets including Accrued Income - Current Liabilities and Provisions) ÷ Number of Units outstanding under the scheme on the day of valuation.

The NAV is usually calculated up to 2 decimal places. NAVs are calculated and disclosed on all business days before 9:00 p.m. It is published in at least 2 daily newspapers, on the AMC’s website (www.axismf.com), and on the Association of Mutual Funds in India (AMFI) website (www.amfiindia.com).

The benchmark of the Axis Mid Cap Fund - Growth is S&P BSE Midcap. The additional benchmark is Nifty 50.

Axis Mid Cap Fund - Growth Fund Manager

The Fund Manager of the Axis Mid Cap Fund - Growth scheme is Mr. Shreyash Devalkar. Mr. Devalkar has been a Fund Manager in Axis Asset Management Company Ltd. since November 2016. He has a Bachelor's degree in Chemical Engineering and a Master’s degree in Management Studies.

Investment Restrictions of the Axis Mid Cap Fund - Growth Scheme

As per the regulations prescribed in the Seventh Schedule and the amendments thereafter, there are certain restrictions in terms of investment. Some of the restrictions are listed below:

  • The investment made in equity shares or other instruments related to equity shares of a company should not be more than 10% of the Net Asset Value (NAV) of the scheme.
  • The investment made in unlisted equity shares or other instruments related to equity shares should not be more than 5% of the Net Asset Value (NAV) of the scheme.
  • A company’s paid up capital carrying voting rights can be owned by all the schemes under a Mutual Fund, but to the extent of 10% only.
  • The scheme can make investments in debt instruments issued by a single issuer to the extent of 10% of its Net Asset Value (NAV). Debt instruments include both money market instruments and non-money market instruments. However, with prior approval of the Trustee and the Board of Directors (BOD) of the Asset Management Company (AMC), the investment limit can be extended to 12% of the Net Asset Value (NAV) of the scheme.
  • More than 10% of the Net Asset Value (NAV) of the scheme should not be invested in unrated debt instruments issued by a single issuer. The total investment in such cases should not be more than 25% of the Net Asset Value of the scheme.
  • No fees will be charged in case the scheme invests in other schemes of the mutual fund or any other mutual fund. However, there are certain conditions which are required to be satisfied.
  • The scheme should not invest in:
    • any security offered by an associate or group company of the sponsor which is not listed
    • any security whose issuance is caused via private placement extended by an associate or group company of the sponsor
    • the listed securities of group companies of the sponsor which are in excess of 25% of the net assets.
  • If an investment was made with the intention of it being long-term in nature, the mutual fund should get the securities transferred in the name of the Fund.
  • No investments should be made in any fund of funds scheme by the mutual fund scheme.
  • No loans shall be advanced by the scheme.

Dividend Policy of the Axis Mid Cap Fund - Growth

The trustee will be able to declare the dividend under the Dividend option. However, it is dependent on the availability of distributable surplus which is calculated according to the regulations. The declaration of dividend and the frequency of declaration is dependent on the available distributable surplus which is calculated as per the norms of the SEBI (MF) Regulations. The decisions taken by the Trustee is considered as the final decision in this regard. The unitholders are not assured about the rate of dividend or the regularity in the payment of dividends.

The rights of changing the frequency of declaration of the dividend or providing additional frequency are reserved by the Asset Management Company (AMC) or the Trustee.

Other Facilities under the Axis Mid Cap Fund - Growth

There are a number of additional facilities which are offered by the Asset Management Companies (AMCs). Some of the facilities offered under the Axis Mid Cap Fund are as follows:

  • Systematic Investment Purchase (SIP)
  • Systematic Investment Purchase (SIP) through post-dated cheques
  • Systematic Investment Purchase (SIP) through Electronic Clearing System/Direct Debit
  • Facility of National Automated Clearing House (NACH) Platform for Systematic Investment Purchase (SIP)
  • Systematic Investment Purchase (SIP) Switch Facility
  • Mandate on Registration of multiple Systematic Investment Purchase (SIP)
  • Systematic Investment Purchase (SIP) Top-Up Facility
  • Purchasing or Redemption of units through stock exchange infrastructure
  • Systematic Transfer Plan (STP)
  • Capital Appreciation Systematic Transfer Plan (CAPSTP)
  • Flex - Systematic Investment Plan/Systematic Transfer Plan (Flex SIP/Flex STP)

Why should you invest in the Axis Mid Cap Fund - Growth?

Axis Mutual Funds is one of the most reliable funds in India with over 50 schemes on offer that is suitable for investors of all groups. At this moment it has a base of more than 20 lakh investors. They are present in more than 90 cities all across India. In addition to being a reliable company, it is also widespread. This makes it one of the safer options to invest in.

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