Change in new initiative announced by Bharti AXA

Written by Agencies | Bangalore | Updated: Aug 25 2009, 21:22pm hrs
Bharti AXA Investment Managers Pvt Ltd announced a change in its new initiative, 'Liq-uity', a product offering wherein the daily dividend in Bharti AXA Liquid Fund (BALF) or Bharti AXA Treasury Advantage Fund (BATrAF) is transferred to Bharti AXA Equity Fund (BAEF) on a daily basis.

Bharti AXA Investment Managers is a joint venture between Bharti Ventures Ltd, AXA Investment Managers and AXA Asia Pacific Holdings, (AXA APH, through its wholly owned subsidiary National Mutual International Pvt Limited).

The minimum investment amount has now been reduced to Rs one lakh from Rs 10 lakh for Regular Plan, it said in a statement.

"This move aims to make 'Liq-uity' more inclusive, thereby attracting more retail investors", it said.

Gains earned under BALF/BATrAF are transferred to BAEF, while the initial capital remains invested in BALF/BATrAF.

There is no entry load for transfers into BAEF from BALF/BATrAF.

However, an exit load of one per cent is levied if units are redeemed within one year from the date of allotment.

There is no enty or exit load for investments in BALF/BATrAF, it said.