BOI AXA Mutual Fund has launched a new fund named as BOI AXA Small Cap Fund, An open ended equity scheme predominantly investing in small cap stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 28 November and closes on 12 December 2018.

The investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity-related securities of small cap companies.

The scheme offers regular and direct plan. Both the plans will have growth and dividend option offering dividend payout & reinvestment facilities.

The scheme will invest 65%-100% assets in equity & equity related instruments of small cap companies with high risk profile and invest upto 35% of assets in equity and equity related instruments of companies other than small cap companies with high risk profile and invest upto 35% assets in debt & money market instruments with low to medium risk profile and invest upto 10% assets in units issued by REITs and InvITs with medium to high risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.

The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load: NA

Exit load: 1% if redeemed within 1 year from the date of allotment.

The scheme's performance will be benchmarked against Nifty Smallcap 100 Total Return Index.

The fund managers of the scheme are Saurabh Kataria and Ajay Khandelwel.