Micro Systematic Invest Plan (Micro SIP) facility will be available under the SIP facility offered under Axis Triple Advantage Fund of Axis Mutual Fund. The change in facility will be in effect from 1st April 2011. Minimum amount per SIP installments is Rs 100 and in multiples of Rs 1 thereafter. The minimum redemption amount will be Rs 300.
The SIP may be discontinued by the AMC, if the six installments are not submitted out of continuous series to the fund. These are the some key features of the mutual fund. And Axis Triple Advantage Fund is an open ended hybrid fund, incepted on 30th June 2010.
News Source – MONEY REDIFF.
NEW FUND LAUNCH
Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XVIII – Series 9, a close ended income scheme with the duration of 90 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 13 April and close on 19 April 2011.
News Source – NAV INDIA.