NOTICE-CUM-ADDENDUM TO SCHEME INFORMATION … - Change in... · INFORMATION MEMORANDUM OF AXIS...
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Axis House, First Floor, C2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400 025, India. TEL : (022) 4325-5161, FAX : (022) 4325-5199, EMAIL : [email protected], WEBSITE : www.axismf.com, EasyCall : 1800 221 322 or 1800 3000 3300 Size : 16 (w) x 50 (h) cm NOTICE-CUM-ADDENDUM TO SCHEME INFORMATION DOCUMENT AND KEY INFORMATION MEMORANDUM OF AXIS EQUITY FUND Axis Mutual Fund Trustee Limited, Trustee to Axis Mutual Fund (“the Fund”) has decided to modify following provisions of Scheme Information Document (“SID”) and Key Information Memorandum (“KIM”) of Axis Equity Fund, an open-ended growth scheme (the “Scheme”) effective from June 30, 2017 as under: All other terms and conditions of the Scheme will remain unchanged. The Board of Directors of Axis Asset Management Company Ltd. (“AMC”) and Axis Mutual Fund Trustee Ltd. (“AMFT”) have approved the proposal contained in this letter on September 20, 2016. SEBI has also vide its letter dated May 09, 2017 provided it’s no objection to the above changes in the SID & KIM of the Scheme. The changes proposed (except point no. 2 & 3 of the table above) in the SID & KIM of the Scheme amounts to changes in the fundamental attributes of the Scheme. Hence, in accordance with Regulation 18(15A) of the SEBI (Mutual Funds) Regulations, 1996, all the existing unit holders under the Scheme are given an option to exit the Scheme at the applicable Net Asset Value without any exit load on such redemption. This option is valid for a period of 30 days. The above change in the fundamental attributes of the Scheme is effective from June 30, 2017. If a Unit holder has no objection to the above proposal, no action needs to be taken by him and it would be deemed that such Unit holder has consented to the above proposal. However, in case the Unit holder does not agree to the same, he has the option to redeem/ switch-out units held by them under the Scheme by filling out the redemption/switch-out transaction slip and submitting the same to any of the Official Points of Acceptance/Investor Service Centres of Axis Mutual Fund (“Fund”) or the Registrar and Transfer Agents of the Fund viz. Karvy Computershare Pvt. Ltd. between May 31, 2017 to June 29, 2017. Alternatively, Unit hoIders may submit redemption/ switch-out request through other modes of redemption/ switch-out specified in SID of the Scheme. Unit holders are requested to note that the offer to exit is purely optional and not compulsory. Further, the option to exit the Scheme is available to all Unit holders except for Unit holders: 1. who have pledged their units, unless they procure release of their pledges before exercising their exit option. 2. whose units are marked under lien/injunction in accordance with the instructions of any Court of Law/Income Tax Authority/other Regulatory Authority unless they get the vacation order before exercising their exit option. Existing Unit holders of the Scheme are being sent a detailed communication in this regard through appropriate mode of communication. For any further assistance/clarification, Unit holders may contact any of our Investor Service Centres. Securities Transaction Tax (STT) on redemption / switch-out of units, if any, exercised during the exit option period shall be borne by AMC. Any other tax consequences, arising out of redemption/ switch-out of units during the exit option period hereunder, shall be borne by the investor. In view of the individual nature of financial and tax implications, each Unit holder is advised to consult his or her own tax advisors / financial advisors. For Axis Asset Management Company Limited (CIN - U65991MH2009PLC189558) (Investment Manager to Axis Mutual Fund) Place : Mumbai Sd/- Date : May 23, 2017 Chandresh Kumar Nigam No. : 13/2017-18 Managing Director & Chief Executive Officer Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd. (liability restricted to ` 1 Lakh). Trustee: Axis Mutual Fund Trustee Limited Investment Manager: Axis Asset Management Company Limited (the AMC) Risk Factors: Axis Bank Ltd. is not liable or responsible for any loss or shortfall resulting from the operation of the schemes. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Sr. No. Existing Provisions Revised Provisions (Effective from June 30, 2017) 1 Type of Scheme Open-ended Growth scheme Type of Scheme Open-ended Large Cap Equity scheme 2 Product Labeling This product is suitable for investors who are seeking*: • capital appreciation over long term. • investment in a diversified portfolio predominantly consisting of equity and equity related instruments. Product Labeling This product is suitable for investors who are seeking*: • capital appreciation over long term. • investment in a diversified portfolio predominantly consisting of equity and equity related instruments of large cap companies. y l e t a r e d o M w o L M o d e r a t e l y LOW HIGH Hi g h H i g h e ra o d te M Investors understand that their principal will be at Moderate high risk w o L y l e t a r e d o M w o L M o d e r a t e l y LOW HIGH Hi g h H i g h e ra o d te M Investors understand that their principal will be at Moderate high risk w o L *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. 3 Definition: Large Cap Companies - Not applicable Definition: Following definition is inserted Large Cap Companies - Large Cap companies are those companies which have their market capitalization greater than or equal to the market capitalization of 100th stock in Nifty 500 Index as per market capitalization. The measurement of applicable market cap for the 100th stock will be carried out periodically by the AMC at least on a quarterly basis. The AMC may compute the applicable threshold as an average of historical readings such that the same is not unduly volatile. 4 Investment Objectives To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved. Investment Objectives To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities of Large Cap companies including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved. 5 Asset Allocation Pattern Table Under normal circumstances the asset allocation pattern will be: Asset Allocation Pattern Table Under normal circumstances the asset allocation pattern will be: Instruments Indicative Allocation (% of net assets) Risk Profile (Low/Medium/ High) Instruments Indicative Allocation (% of net assets) Risk Profile (Low/Medium/ High) Equity and Equity R e l a t e d Instruments 80-100 High Equity and Equity R e l a t e d Instruments of Large Cap companies 80-100 High Debt and Money M a r k e t Instruments 0-20 Low to Medium Equity and Equity R e l a t e d Instruments of other companies 0-20 High Debt and Money M a r k e t Instruments 0-20 Low to Medium The Scheme will invest predominantly in Equity and Equity Related Instruments of Large Cap companies. 6 Investment Strategies (First two paragraphs) The Fund will Actively Manage a diversified portfolio of strong growth companies with sustainable business models, whilst Managing Risk. The portfolios will be built utilising a bottom-up stock selection process, focusing on appreciation potential of individual stocks from a fundamental perspective. The AMC employs a “Fair value” based research process to analyse the appreciation potential of each stock in its universe (Fair value is a measure of the intrinsic worth of a company). The universe of stocks is carefully selected to include companies having robust business models and enjoying sustainable competitive advantages as compared to their competitors. The Fund will have the flexibility to invest across the market capitalization spectrum. Investment Strategies (First two paragraphs) The Scheme will invest predominantly in Equity and Equity Related Instruments of Large Cap companies with strong growth and sustainable business models, whilst managing risk. The portfolios will be built utilising a bottom-up stock selection process, focusing on appreciation potential of individual stocks from a fundamental perspective. The AMC employs a “Fair value” based research process to analyse the appreciation potential of each stock in its universe (Fair value is a measure of the intrinsic worth of a company). The universe of stocks is carefully selected to include companies having robust business models and enjoying sustainable competitive advantages as compared to their competitors.
Transcript of NOTICE-CUM-ADDENDUM TO SCHEME INFORMATION … - Change in... · INFORMATION MEMORANDUM OF AXIS...
Axis House, First Floor, C2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400 025, India. TEL : (022) 4325-5161, FAX : (022) 4325-5199, EMAIL : [email protected], WEBSITE : www.axismf.com, EasyCall : 1800 221 322 or 1800 3000 3300
Size : 16 (w) x 50 (h) cm
NOTICE-CUM-ADDENDUM TO SCHEME INFORMATION DOCUMENT AND KEY INFORMATION MEMORANDUM OF AXIS EQUITY FUND
Axis Mutual Fund Trustee Limited, Trustee to Axis Mutual Fund (“the Fund”) has decided to modify following provisions of Scheme Information Document (“SID”) and Key Information Memorandum (“KIM”) of Axis Equity Fund, an open-ended growth scheme (the “Scheme”) effective from June 30, 2017 as under:
All other terms and conditions of the Scheme will remain unchanged.
The Board of Directors of Axis Asset Management Company Ltd. (“AMC”) and Axis Mutual Fund Trustee Ltd. (“AMFT”) have approved the proposal contained in this letter on September 20, 2016. SEBI has also vide its letter dated May 09, 2017 provided it’s no objection to the above changes in the SID & KIM of the Scheme.
The changes proposed (except point no. 2 & 3 of the table above) in the SID & KIM of the Scheme amounts to changes in the fundamental attributes of the Scheme. Hence, in accordance with Regulation 18(15A) of the SEBI (Mutual Funds) Regulations, 1996, all the existing unit holders under the Scheme are given an option to exit the Scheme at the applicable Net Asset Value without any exit load on such redemption. This option is valid for a period of 30 days. The above change in the fundamental attributes of the Scheme is effective from June 30, 2017.
If a Unit holder has no objection to the above proposal, no action needs to be taken by him and it would be deemed that such Unit holder has consented to the above proposal. However, in case the Unit holder does not agree to the same, he has the option to redeem/ switch-out units held by them under the Scheme by filling out the redemption/switch-out transaction slip and submitting the same to any of the Official Points of Acceptance/Investor Service Centres of Axis Mutual Fund (“Fund”) or the Registrar and Transfer Agents of the Fund viz. Karvy Computershare Pvt. Ltd. between May 31, 2017 to June 29, 2017. Alternatively, Unit hoIders may submit redemption/ switch-out request through other modes of redemption/ switch-out specified in SID of the Scheme. Unit holders are requested to note that the offer to exit is purely optional and not compulsory.
Further, the option to exit the Scheme is available to all Unit holders except for Unit holders:
1. who have pledged their units, unless they procure release of their pledges before exercising their exit option.
2. whose units are marked under lien/injunction in accordance with the instructions of any Court of Law/Income Tax Authority/other Regulatory Authority unless they get the vacation order before exercising their exit option.
Existing Unit holders of the Scheme are being sent a detailed communication in this regard through appropriate mode of communication. For any further assistance/clarification, Unit holders may contact any of our Investor Service Centres.
Securities Transaction Tax (STT) on redemption / switch-out of units, if any, exercised during the exit option period shall be borne by AMC. Any other tax consequences, arising out of redemption/ switch-out of units during the exit option period hereunder, shall be borne by the investor. In view of the individual nature of financial and tax implications, each Unit holder is advised to consult his or her own tax advisors / financial advisors.
For Axis Asset Management Company Limited(CIN - U65991MH2009PLC189558)
(Investment Manager to Axis Mutual Fund)
Place : Mumbai Sd/-Date : May 23, 2017 Chandresh Kumar NigamNo. : 13/2017-18 Managing Director & Chief Executive Officer
Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd. (liability restricted to ̀ 1 Lakh). Trustee: Axis Mutual Fund Trustee Limited Investment Manager: Axis Asset Management Company Limited (the AMC) Risk Factors: Axis Bank Ltd. is not liable or responsible for any loss or shortfall resulting from the operation of the schemes. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Sr. No. Existing Provisions Revised Provisions (Effective from June 30, 2017)
1 Type of Scheme
Open-ended Growth scheme
Type of Scheme
Open-ended Large Cap Equity scheme
2 Product Labeling
This product is suitable for investors who are seeking*:
• capital appreciation over long term.
• investment in a diversified portfolio predominantly consisting of equity and equity related instruments.
Product Labeling
This product is suitable for investors who are seeking*:
• capital appreciation over long term.
• investment in a diversified portfolio predominantly consisting of equity and equity related instruments of large cap companies.
yletaredo
M
woL
Moderately
LOW HIGH
High
High
eraod teM
Investors understand that their principal will be at Moderate high risk
woL
yletaredo
M
woL
Moderately
LOW HIGH
High
High
eraod teM
Investors understand that their principal will be at Moderate high risk
woL
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
3 Definition:
Large Cap Companies - Not applicable
Definition: Following definition is inserted
Large Cap Companies - Large Cap companies are those companies which have their market capitalization greater than or equal to the market capitalization of 100th stock in Nifty 500 Index as per market capitalization.
The measurement of applicable market cap for the 100th stock will be carried out periodically by the AMC at least on a quarterly basis. The AMC may compute the applicable threshold as an average of historical readings such that the same is not unduly volatile.
4 Investment Objectives
To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved.
Investment Objectives
To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities of Large Cap companies including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved.
5 Asset Allocation Pattern Table
Under normal circumstances the asset allocation pattern will be:
Asset Allocation Pattern Table
Under normal circumstances the asset allocation pattern will be:
InstrumentsIndicative Allocation
(% of net assets)
Risk Profile (Low/Medium/
High)
InstrumentsIndicative Allocation
(% of net assets)
Risk Profile (Low/Medium/
High)
Equity and Equity R e l a t e d Instruments
80-100 High Equity and Equity R e l a t e d Instruments of L a r g e C a p companies
80-100 High
Debt and Money M a r k e t Instruments
0-20 Low to Medium
Equity and Equity R e l a t e d Instruments of other companies
0-20 High
Debt and Money M a r k e t Instruments
0-20 Low to Medium
The Scheme will invest predominantly in Equity and Equity Related Instruments of Large Cap companies.
6 Investment Strategies
(First two paragraphs)
The Fund will Actively Manage a diversified portfolio of strong growth companies with sustainable business models, whilst Managing Risk.
The portfolios will be built utilising a bottom-up stock selection process, focusing on appreciation potential of individual stocks from a fundamental perspective. The AMC employs a “Fair value” based research process to analyse the appreciation potential of each stock in its universe (Fair value is a measure of the intrinsic worth of a company). The universe of stocks is carefully selected to include companies having robust business models and enjoying sustainable competitive advantages as compared to their competitors. The Fund will have the flexibility to invest across the market capitalization spectrum.
Investment Strategies
(First two paragraphs)
The Scheme will invest predominantly in Equity and Equity Related Instruments of Large Cap companies with strong growth and sustainable business models, whilst managing risk.
The portfolios will be built utilising a bottom-up stock selection process, focusing on appreciation potential of individual stocks from a fundamental perspective. The AMC employs a “Fair value” based research process to analyse the appreciation potential of each stock in its universe (Fair value is a measure of the intrinsic worth of a company). The universe of stocks is carefully selected to include companies having robust business models and enjoying sustainable competitive advantages as compared to their competitors.
