AXIS Mutual Fund files offer document for Retirement Planning Fund

AXIS Mutual Fund has filed offer document with SEBI to launch an Open Ended Retirement Benefit Scheme as Axis Retirement Planning Fund. The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 10 crore. The scheme will be benchmarked against scheme Crisil Balanced Fund Index. The minimum application amount is Rs.5, 000 and in multiples of 1 thereafter The investment objective of the scheme is to provide a long term investment vehicle that can be used for retirement planning. The fund will invest in both equity and debt. The investment objective of the fund will be to generate long-term capital appreciation through investments in equity & equity related instruments along with income by investing in debt & money market instruments.