AXIS Mutual Fund has launched a new fund named as Axis Fixed Term Plan - Series 104 (1112 Days), a close ended debt scheme. The duration of the scheme is 1112 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 19 March to 26 March 2019.

The investment objective of the scheme is to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the Scheme.

The scheme offers growth option, regular dividend payout option, quarterly dividend payout option and half yearly dividend payout option.

The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest up to 20% of assets would be allocated to money market instruments with low risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be nil for the scheme.

The benchmark index for the scheme would be Nifty Composite Debt Index.

The fund manager of the scheme is Devang shah.