Axis AMC eyes Rs 100 crore from new debt fun

Axis Mutual Fund on Monday launched a debt scheme with a target to collect at least Rs 100 crore during the primary subscription period. The open-ended target maturity index fund will invest in the constituents of the Crisil SDL index, maturing in June 2034.

The scheme opened on Monday and closes on March 12, the fund house said in a statement, adding they have set an internal target of collecting at least Rs 100 crore during the primary subscription period.

The scheme will be managed by Hardik Shah and does not have any exit load. The passive fund has a relatively high-interest rate risk and relatively low credit risk. B Gopkumar, MD & CEO of the fund house said the current yield curve presents material opportunities to investors with a medium to long-term investment horizon and can be a notable add-on to the investor's passive debt portfolio.