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Axis Mutual Fund launches Axis Retirement Savings Fund

The scheme offers flexible risk profiles, strong fund management capabilities across asset classes, tax efficiency, flexibility in using the fund for post-retirement income as well as one of the feature offering life cover to long term SIP investors.

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Last Updated: Nov 28, 2019, 04.53 PM IST|Original: Nov 28, 2019, 04.53 PM IST
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Axis Mutual Fund has announced the launch of a new scheme, called Axis Retirement Savings Fund. The open-ended retirement solution-oriented scheme comes with a lock-in period of five years or until retirement age, whichever happens first. The new fund offer (NFO) will be open for subscription between November 29 and December 13.

In a press release, the fund house said that retirement planning is slowly emerging as a critical issue for the working age population of the country as they face the prospect of living out a long post retirement life with a lack of formal social security and changes to traditional family support structures. These issues are backed by findings from a market research study carried out by Axis AMC. The AMC also said that the study reached out to people from different backgrounds and across different locations who have all voiced concerns on their readiness for retirement. People have a desire to remain self-sufficient during their retirement years even while they don’t want their retirement to lead to a change in their lifestyle, the fund house said.

According to the press release, Axis Retirement Savings Fund offers flexible risk profiles, strong fund management capabilities across asset classes, tax efficiency, flexibility in using the fund for post-retirement income as well as one of the feature offering life cover to long term SIP investors to encourage them to remain disciplined on their path.

Keeping in mind the diverse investor risk profiles, the fund offers three investment plans – Aggressive Plan where equity exposure will range between 65-80%, Dynamic Plan where equity exposure will be dynamically managed between 65-100% and Conservative Plan where debt exposure will range between 40 - 80%.

The fund offers a feature called iPlus SIP Insurance. This facility offers investors a complementary life cover that is equal to the remaining commitment of their long term SIPs. The insurance will be provided by HDFC Life Insurance Company Limited.

“Axis AMC has always focused on offering a responsible product basket that keeps at its core the needs and aspirations of our investors. Axis Retirement Savings Fund is our small step to help investors execute the most critical part of their financial plan. Further we have designed this product keeping in mind the need to offer each investor the flexibility to navigate this journey in the manner that works best for them. Given Axis AMC’s investment philosophy that focuses on sustainable long term returns, we are confident that we can help investors reach a happy retirement,” said Chandresh Kumar Nigam, MD & CEO, Axis AMC.

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