About this Fund
This Mutual Fund has investments in T-bills and Commercial Papers and is managed by Axis Mutual Fund that has a total AUM of INR 79,201Cr. One should look at this fund to park idle money or very short-term money. You can redeem up to 90% of the current value of available units or a maximum of INR 50,000 per day, whichever is lower.
The fund was launched on October 2009. They invest primarily in money market instruments such as treasury bills and certificate of deposits (CoD), commercial papers etc.
About the Fund Manager:
Mr. Devang Shah has 9 years total experience. He is with Axis Asset Management Co. Ltd. from October 16, 2012, to date. His previous experience includes Price Waterhouse Coopers, Deutsche AMC & ICICI Prudential AMC.
Mr. Aditya Pagaria is associated with ICICI Prudential AMC from May 2007 till date. Prior to working in Dealing function, he was handling NAV and fund accounting related functions.
This fund has invested in Sovereign (7.4%), Others (10.2%), Financials (71.6%), Energy (5.6%) and Metals (5.3%).
Asset Preservation and Liquidity
Ideal for someone looking to park their money for less than 6 months which makes it a highly liquid and low-risk investment option for investors. This can be a good substitute for Fixed Deposits and can be withdrawn anytime as there is no entry nor exit load.
1. Fund Factsheet by the AMC
2. Details of the Fund Manager
How did we identify this Mutual Fund:
The entire Mutual Fund universe across the 36 SEBI categories and 44 AMCs are screened based on various qualitative and quantitative parameters. The qualitative factors involve assessing the credibility of the AMCs / fund houses & the fund manager, the nature of the fund, the fund's adherence to its mandate and so on. Quantitative factors involve analyzing the returns, maximum drawdown, Sharpe ratio, expense ratio, exit load, the fund size and overall rating across Crisil, Value Research etc. Quant and research analysts in the team assign points to these parameters and allocate a composite score to each fund based on which the top funds under each SEBI category are selected. We keep a track of the performance of the selected funds and update the top funds on a quarterly basis.More