The NFO of BOI AXA Midcap Tax Fund - Series 1 will close for investment on February 9, 2018. This fund is a 10 year close-ended equity linked savings scheme which combines the return potential of midcap equity and the benefits of tax savings under 80C of the Income Tax Act, 1961.
BOI AXA Midcap Tax Fund - Series 1 seeks to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related securities of midcap companies along with income tax benefit. The fund will be benchmarked with the Nifty Midcap 100 Index.
There are two plans available - Regular plan and Direct plan and both plans offer Growth option for capital appreciation and Dividend option for Dividend Pay-out facilities. There is a three year lock-in from the date of investment and there is no exit load.
The fund would be managed by Mr. Alok Singh, Chief Investment Officer of BOI AXA Mutual Fund.
To know more about the Fund, investors can visit the company's website - www.boiaxa-im.com or contact their nearest Bank of India branch.