Axis Mutual Fund Equity Hybrid Fund Scheme has revised its benchmark index, with immediate effect. The fund house has approved the change in nomenclature of the index by Index Services Provider and the name of benchmark index of the scheme.
Accordingly, the benchmark index of the Axis Equity Hybrid Fund has been changed from CRISIL Balanced Fund Index to CRISIL Hybrid 35 + 65 – Aggressive Index, with immediate effect.
The investment objective of the Axis Equity Hybrid Fund is to produce long-term capital appreciation together with current income by making investments in a combination of equity and equity-related securities, debt securities, and money market securities.
The NAV (Net Asset Value) of the Axis Mutual Fund Equity Hybrid Fund Scheme as on September 28, 2018, is 9.5900 Rupees. The AUM (Asset Under Management) of the scheme is 2326.84 Crore Rupees, and the expense ratio of the scheme is 2.55 percent.
The open-ended aggressive hybrid scheme was launched in July 2018 and has a face value of 10.00 Rupees per unit. R Sivakumar, Shreyash Devalkar and Ashish Naik have been managing the Axis Equity Hybrid Fund since July 2018.
Mr. Sivakumar has worked with Fortis Investment Management Ltd, Sundaram Mutual Fund, Zurich India and ITC Threadneedle before joining the Axis Mutual Fund. He holds B.Tech and MBA degrees as his educational qualifications.
Mr. Devalkar has worked with BNP Paribas Mutual Fund, IDFC Capital, JP Morgan Services India and Calyon Bank, before joining Axis AMC. He is a B.Tech and PGDM (Management) degree holder.
Mr. Naik has more than 7 years of working experience as an Equity Analyst, and has also worked in Goldman Sachs before joining Axis fund house. He has completed B.E and MBA, according to The Economic Times.
The fund house has announced the change in the benchmark of the Axis Mutual Fund Equity Hybrid Fund Scheme on September 28, 2018, according to KJMC.
The post Axis Mutual Fund Equity Hybrid Fund Scheme Alters Its Benchmark appeared first on OWLT Market.
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