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.
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.
Listed below are some of the important features of the Axis Mid Cap Fund - Growth:
Type of fund | Open-ended Equity Scheme |
Plans available |
|
Options under each plan |
|
Risk | Moderately High |
Systematic Investment Plan | Available |
Systematic Transfer Plan | Available |
Systematic Withdrawal Plan | Available |
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) |
|
Minimum instalment for Systematic Withdrawal Plan (SWP) |
|
Entry Load | Not Applicable |
Exit Load |
|
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 |
The following entities can invest in 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.
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.
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 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.
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:
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.
GST rate of 18% applicable for all financial services effective July 1, 2017.
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