Bharati AXA investment managers launch maiden fixed income funds

Mumbai, Jul 9 (UNI) Bharati AXA Investment Managers today announced the launch of maiden fixed income products -- Bharati AZA Liquid fund and Bharati AZA Treasury Plus.

These are the first MF schemes offered by BAIM, a joint venture between Bharati Ventures and AXA Investment managers. The Company in a release here said, the primary objective of the funds was to deliver reasonable market related returns with lower risk and higher liquidity through investment in debt and money market funds.

The new Funds, both open ended schemes, opened today and would close on July 14. The Unit offer for both the schemes was Rs 1,000 per unit during NFO period with no entry or exit load for the Liquid Fund, where as an exit load of 0.25 would be levied on Treasury Plus, if redeemed before seven days from allotment. The minimum investment for a retail investor would be Rs 5,000, for institutional investors Rs one crore and Rs 25 crore for super institutional investors. Under both the schemes both growth and dividend reinvestment options were available.

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