Notice is hereby given for introduction of Automatic Encashment Plan facility under Axis Dynamic Equity Fund, Axis Equity Saver Fund, Axis Triple Advantage Fund, Axis Regular Saver Fund, Axis Strategic Bond Fund and Axis Credit Risk Fund (“the Scheme(s)”) w.e.f. May 24, 2018 :
AUTOMATIC ENCASHMENT PLAN FACILITY (‘AEP facility’)
AEP facility enables unitholders to redeem fixed percentage of Net Asset Value of units at fixed frequency i.e. monthly frequency.
The terms and conditions of AEP facility are as under :
- Investors investing in specified schemes can avail AEP facility by providing standing instruction to redeem fixed percentage of the Net Asset Value of units at a fixed frequency i.e. monthly frequency.
- AEP facility is available to Unitholders under Growth Option of below mentioned Scheme(s). Unitholders have option to select following fixed percentage for redemption at the fixed frequency:
- The fixed percentage of Net Asset Value under AEP facility will be redeemed on 25 of each month (or next business day if that day is not a business day) at Applicable NAV and subject to applicable exit load and taxes, if any.
- AEP facility is available only for subscription transaction by way of lump sum investment or switch in to the specified scheme(s). Investment transactions in the Scheme(s) through SIP or STP (in) facilities will not be eligible for AEP facility.
- No Special Products viz STP (out), SWP, etc will be registered for investments under AEP facility.
- AEP facility is available for only un encumbered units held in physical mode (nondemat mode).
- Redemption of units received under the Scheme(s) will be done on First-in-First out basis.
- If redemption payable under AEP facility is less than Rs. 500/- then no redemption will be effected and the amount shall remain invested in the Scheme(s). Consequently, no pay out will be made for the said month.
- Units under AEP facility offered under aforesaid Scheme(s) will be allotted in a separate folio for existing investors under the Scheme(s).
- AEP facility will not be available for existing investments under the Scheme(s).
- AEP facility shall be activated/ deactivated subject to an advance notice of 10 business day. No modification is allowed after registration of request for AEP facility.
AMC/Trustee reserves the right to change / modify the terms & conditions at any point of time.
This notice cum addendum shall form an integral part of the SID & KIM of the above schemes of Axis Mutual Fund.
All other terms & conditions of SID & KIM of above Scheme will remain unchanged.