Axis Mutual Fund Renames Debt Scheme for Greater Clarity

Axis Mutual Fund has announced a name change for one of its fixed-maturity debt schemes. The fund, currently called the Axis CRISIL IBX AAA NBFC Index – Jun 2027 Fund, will be renamed Axis CRISIL IBX AAA Bond NBFC – Jun 2027 Index Fund, effective December 5, 2024.

This update aligns the fund’s name more closely with its benchmark, emphasizing its focus on AAA-rated bonds issued by non-banking financial companies (NBFCs) and its fixed maturity of June 2027.

Fund Details

The Axis CRISIL IBX AAA NBFC Index – Jun 2027 Fund will be renamed to Axis CRISIL IBX AAA Bond NBFC – Jun 2027 Index Fund, effective December 5, 2024. The fund focuses on investments in AAA-rated bonds issued by non-banking financial companies (NBFCs), maintaining a low to moderate risk profile. It is benchmarked against the CRISIL IBX AAA NBFC Index and is set to mature in June 2027.

Purpose of the Name Change

The new name provides a clearer representation of the fund’s investment strategy and objectives. It directly references the benchmark, offering transparency about the type of securities the fund tracks and its focus on debt instruments.

For existing investors, this name change does not affect the fund’s structure, portfolio, or objectives. The investment strategy and key features of the fund remain unchanged. The name change is intended to improve clarity without altering the underlying components of the fund.

Market Context

The Axis CRISIL IBX AAA Bond NBFC – Jun 2027 Index Fund, effective from December 5, 2024, represents a step toward transparency and clarity for investors. While the name is changing, the fund continues to provide a fixed-maturity option aligned with its benchmark and investment strategy.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.