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Axis Mutual Fund has launched a new close-ended debt scheme named Axis Fixed Term Plan – Series 118 (100 Days). The scheme will invest in a portfolio of debt and money market instruments that mature on or before the scheme’s maturity date. The minimum investment amount is Rs 5,000 and the scheme will be open for subscription from November 28, 2023, to December 4, 2023.
The Scheme aims to generate returns by investing in a portfolio of debt and money market instruments that mature before or on the Scheme’s maturity date. Tenure of the Scheme is 100 days from the date of allotment (including the date of allotment.) The Units of the Scheme cannot be redeemed by the Unit holder directly with the Fund until the Maturity Date. This is a close-ended debt scheme, with a Moderate Interest Rate Risk and Moderate Credit Risk.
The Axis Fixed-Term Plan will avoid the aviation, gems and jewellery sectors, as mentioned in the scheme document. The benchmark used for this will be the CRISIL Ultra Short-Term Debt Index.
The scheme has a simple asset allocation consisting only of debt and money market instruments, where the risk profile will be kept low. The scheme can invest in securitized debt up to 40% of the debt portfolio and will not invest in foreign securitized debt.
The scheme invests in instruments like Certificate of Deposit (CD), Commercial Paper (CP), Treasury Bills (T-Bills), Commercial Usage Bills, Repos, Non-Convertible Debentures and Bonds, non-convertible parts of convertible debt securities, securitized assets, Pass-Through Certificates (PTC), etc.
Sachin Jain
Age- 36 Years
PGDM, B.Tech
Total number of years of experience: 10 years
| SCHEME NAME | NAV (RS. /UNIT) | AUM (RS. CR) | 1 Month (in %) | 1 Year (in %) | 3 Year (in %) |
| SBI Fixed Maturity Plan – Series 61 (1927 Days) Regular – Growth | 10.83 | 295.17 | 0.76 | 6.42 | – |
| ICICI Prudential Fixed Maturity Plan – Series 88 1226 Days Plan F – Growth | 10.61 | 118.23 | 0.79 | – | – |
| ICICI Prudential Fixed Maturity Plan – Series 85 10 Years Plan I – Growth | 14.43 | 397.88 | 0.74 | 7.01 | 4.73 |
| Axis Fixed Term Plan Series 112 (1143 Days) Regular – Growth | 10.58 | 69.9 | 0.76 | – | – |
Currently, there is no such perfect comparable scheme for Axis Fixed Term Plan – Series 118 (100 Days). The tenure for other plans is higher.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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