Axis Mutual Fund to rename seven schemes from September 30 - Full details inside
SEBI guidelines prompt standardisation
Axis Mutual Fund has announced that it will be changing the names of several of its schemes effective September 30, 2024. These changes are in line with the Securities Exchange Board of India's (SEBI) directive to streamline and standardise the naming conventions of mutual funds.
The revised names aim to provide investors with a clearer understanding of each scheme's investment objectives. For instance, funds primarily focused on corporate bonds will now incorporate "Corporate Bond" in their titles, enhancing transparency and making them more distinguishable.
Here's a list of the existing schemes and their new names:
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Old Scheme Name
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New Scheme Name
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Axis Children’s Gift Fund
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Axis Children’s Fund
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Axis Retirement Savings Fund
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Axis Retirement Fund
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Axis Corporate Debt Fund
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Axis Corporate Bond Fund
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Axis Ultra Short Term Fund
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Axis Ultra Short Duration Fund
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Axis Short Term Fund
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Axis Short Duration Fund
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Axis Regular Saver Fund
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Axis Conservative Hybrid Fund
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Axis Equity Saver Fund
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Axis Equity Savings Fund
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Axis Equity Hybrid Fund
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Axis Aggressive Hybrid Fund
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Why the name change
- Improved Clarity: The revised names will offer investors a more accurate understanding of each scheme's investment focus.
- Enhanced Transparency: The standardization of naming conventions will contribute to a more transparent and investor-friendly market.
- Regulatory Compliance: The changes align with SEBI's guidelines, ensuring compliance with industry regulations.
Conclusion
Axis Mutual Fund's decision to rename its schemes is a positive step towards greater investor clarity and understanding. The revised names will help investors make informed investment choices and navigate the mutual fund landscape with ease.
About Axis Mutual Fund
Axis Asset Management Company Limited is Axis Mutual Fund’s Investment and Asset Manager. The company’s investment philosophy is laid on three principles – long-term wealth creation, outside-in view, and long-term relationships. The company boasts a well-rounded portfolio of more than 53 mutual fund schemes across categories like debt, equity, hybrid, etc. It maintains over 98 lakh investor accounts. Also, Axis Mutual Fund offers its services online and through more than 100 branches in India.
Disclaimer: The article is for informational purposes only and not investment advice.