Axis MF Launches Childrens Gift Fund

17 November, Mumbai

Axis Mutual Fund Tuesday announced its new fundoffer, the Axis Children’s Gift Fund.

This is Axis’ first goal-based investment option, the MF house said.

Investments can only be made for a minor, represented by a parentor guardian.

According to the company, such an investment would be better thantaking an education loan in the future for a child’s education. TheNFO comes with an optional lock-in period till the child turns 18years old.

The open-ended balanced scheme will invest up to 60 per cent inequity and equity derivatives, a maximum of 55 per cent in debt anda maximum of 15 per cent in cash arbitrage. The minimum applicationamount is Rs. 5,000. The fund will be benchmarked against the CrisilComposite Bond Fund Index.