Axis Mutual Fund to Change Name of these Seven Schemes effective 30th Sep 2024
Axis Mutual Fund has decided to rename seven of its schemes with effect from September 30, 2024. This move will comply with the directive of the Securities and Exchange Board of India (SEBI) for simplifying and standardizing the name of mutual funds so that they become more in line with their respective investment objectives.
The renamed schemes are defined to provide more investors’ clarity as they mirror the main investment theme. For instance, schemes with a primary investment in corporate bonds will be specified by the inclusion of “Corporate Bond” in the scheme name so that investors now clearly know what the objective is.
Changes to Scheme Names
| Existing Scheme Name | New Scheme Name |
| Axis Children’s Gift Fund | Axis Children’s Fund |
| Axis Corporate Debt Fund | Axis Corporate Bond Fund |
| Axis Equity Hybrid Fund | Axis Aggressive Hybrid Fund |
| Axis Equity Saver Fund | Axis Equity Savings Fund |
| Axis Regular Saver Fund | Axis Conservative Hybrid Fund |
| Axis Retirement Savings Fund – Aggressive Plan | Axis Retirement Fund – Aggressive Plan |
| Axis Retirement Savings Fund – Conservative Plan | Axis Retirement Fund – Conservative Plan |
These updates as per SEBI guidelines make scheme names more relevant and representative of their underlying investment strategy. The aim behind renaming the scheme is to streamline it for investors so that they understand very clearly what each fund has in store for the investment avenue. The investor will be more disciplined by making decisions based on what nature of the fund is designed for either a plan to target corporate bonds, hybrid investment, or retirement savings.
