Axis Children's Gift Regular No Lock in Growth
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- Fund Summary
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- Why Cleartax
|Risk||Moderately High risk|
|Exit Load||3% for 365 Days|
More about this fund
|Reliance Industries Ltd||6.94%|
|6.19% Govt Stock 2034||6.52%|
|HDFC Bank Ltd||4.94%|
|Bajaj Finance Ltd||4.35%|
|Tata Consultancy Services Ltd||4.22%|
|Kotak Mahindra Bank Ltd||3.68%|
|Avenue Supermarts Ltd||3.46%|
|Housing Development Finance Corp Ltd||3.35%|
|ICICI Bank Ltd||3.05%|
About Axis Children’s Gift Fund
The Scheme is an open-ended scheme for investment for children, having a lock-in of 5 years or till the child attains majority (whichever is earlier) under compulsory lock-in option. Under no lock-in option, investment will not be locked-in and can be redeemed at any point at NAV based prices subject to exit load.
Pros & Cons of Axis Children’s Gift Fund
Axis Children’s Gift Fund offers following features: 1. It helps to plan for child’s education or any other goals the child want to pursue in future. 2. With the option of a larger holding period, one can have more time for the money to grow 3. Money is invested in equities, thus it holds great potential for long term wealth creation. Since a portion of money is also invested in debt and money market instruments, it gives the much-needed cushion in terms of relatively less volatility.
Fund Information and Statistics of Axis Children’s Gift Fund
i) Inception / Launch date
The Scheme was launched by Axis Mutual Fund on 8 December 2015.
ii) Risk level
The investment in the scheme is moderately high risk proposition and suitable for investors looking for capital appreciation over long term.
The Scheme offers units for purchase and redemption at NAV based prices on all business days. In case of compulsory lock-in option, units will be locked till the child attains majority or 5 years, whichever is earlier.
iv) Fund Manager
The Scheme is currently being co-managed by Mr. R. Sivakumar who is managing the scheme since 7 June 2016 and Mr. Ashish Naik who is managing the scheme since 6 July 2016.
v) Entry / Exit load
Entry load is not applicable for any plans. No exit load is charged by the fund house under compulsory lock-in plan for units redeemed post lock-in period.
Under no Lock-in plan – Exit load of 3% is payable if units redeemed/switched out within 1 year of allotment, 2% of exit load is payable if units redeemed/switched out after 1 year and up-to 2 years of allotment, 1% of exit load is payable if units redeemed/switched out after 2 years and up-to 3 years of allotment and no exit load is payable if redeemed/switched out after 3 years of allotment.
Tax benefits of investing in Axis Savings Fund
The Short-term capital gain tax of 15% is levied if sold before one year from the date of allotment. Long-term capital gains , in excess of Rs 1 lakh, are taxed at 10% without indexation if redeemed after one year. 10% tax will be deducted at source for dividends.
About Axis Mutual Fund
Axis Mutual Fund launched its first scheme in October 2009 and currently managing more than 50 schemes with over 20 lakh active investor accounts. Mr. Chandresh Kumar Nigam is the MD & CEO of the fund house.
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All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns