Axis Mutual Fund has launched Axis Money Market Fund. The scheme is an open-ended debt fund which will invest in AAA and equivalent high quality short term investments with high grade short term rating.
The NFO of Axis Money Market Fund opens today and will close on August 01. The scheme will be benchmarked against NIFTY Money Market index.
The minimum application amount for this fund is Rs 5,000. The fund offers direct and regular plan, both with growth and dividend options.
The fund will be managed by Devang Shah, Deputy Head – Fixed Income and Aditya Pagaria, Fund Manager – Fixed Income.
This fund is ideal for investors with an investment horizon of up to 3-6 months.
“Axis AMC has always believed in offering the best quality products to our investors whatever their needs be and to deliver consistent performance in every fund that we manage. We believe that the Money Market Fund will be a valuable addition to our bouquet and will provide our investors with a significant new tool to manage their short term investment objectives,” says Chandresh Kumar Nigam, MD & CEO, Axis AMC.