Axis Children Gift Mutual Fund Review

 

Axis Children Gift Mutual Fund - Invest Online

 

Axis Bank has launched new Mutual fund scheme, Axis Children Gift Mutual Fund which you can now invest on the name of your Child. Yes, earlier SEBI wasn't allowed to have investment on the child's name (though you can add children as Nominee) but now SEBI has first time allowed to have investment on the name of Child exclusively. Here we are going to talk about Axis Children Gift Mutual Fund's Features, Should we buy this Mutual fund or not, is it good for Education fees or marriage of your children?

Features of Axis Children Gift Mutual Fund

• This Mutual funds is for Children's. Parents / Grand Parents / Legal Guardians can GIFT 'N' number of Mutual funds units to children. There is no Cap.
• This mutual fund, Axis Children Gift Mutual Fund got special approval from SEBI that "Donor" can donate multiple MF units to Children.
• So to cut it short, You (as parents) can invest in mutual fund scheme on the name of your child (legally).
• This scheme will invest in Equity + Equity derivatives (40-60%), and in debt+debt derivatives 25-55%, Cash Future arbitrage for 5-15%.
• You can invest as regular plan or direct plans in this MF Scheme.
• Minimum amount to be invest is Rs.5000.
• There 2 Sub plans of Axis Children Gift Mutual Fund, With lock in period and without lock in period.
• The NFO is open from 18th November, 2015 to 2nd December, 2015. You can buy regular subscription from 14th December 2015 on-wards (as other Mutual Fund scheme).

Lock in Period and With out Lock in Period

• As mentioned above, this plan comes with 2 sub options,  in Lock in period, 3 years of Lock in period is there.
• While the Without lock in period has 3% of exit load (with in 1year), 2 % if exit in 2 years and 1% if you exit within 3 years.
• No exit load applicable if you are in lock in period of 3 years.

How will the return of Axis Children Gift Mutual Fund will be compared?

The Axis Children Gift Mutual Fund scheme can be compared with customized benchmark.Which includes 50% Nifty50 and 50% CRISIL composition bond fund scheme.  So, on Nifty50 and CRISIL, the future of Axis Children Gift Mutual Fund return will be compared.

 

Should we invest in Axis Children Gift Mutual Fund or not?

Well, this is short of Balanced Mutual fund as they mentioned, they will invest 60% in equity and 40% in debt/arbitrage opportunities, which means less or equal to balanced fund which mostly invest up to 60% in equity and balance in debt. The only advantage is that you can invest money on the name of your children via this mutual fund scheme. Also, Children Mutual Fund plans gives 6-9% of annual return. So return wise it will be less than other wise. If not minor, you can invest in other Best Mutual Funds which are performing very well to even higher returns.

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

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