Media Release
Bharti AXA funds now available on BSE StAR MF Platform
**Transaction facility available for units of Bharti AXA Equity Fund, Bharti AXA Tax Advantage Fund,
Bharti AXA Focused Infrastructure Fund**
BSE’s StAR MF, launched on Dec. 4, 2009 with 7 AMCs and over 300 scheme options, has added Bharti AXA funds to it. Bharti AXA Investment Managers - a joint venture between Bharti Ventures Ltd, AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings (AXA APH, through its wholly owned subsidiary National Mutual International Pty. Limited) has the units of Bharti AXA Equity Fund (BAEF), Bharti AXA Tax Advantage Fund (BATAF) and Bharti AXA Focused Infrastructure Fund (BAFIF) open for transaction on the Bombay Stock Exchange Platform for Allotment and Redemption of Mutual Fund Units (BSE StAR MF) with effect from January 20, 2010.
Units of the schemes are not listed on the exchange yet and this facility currently permits only redemption/purchase of units. Switching is currently not permitted.
Minimum quantity for redemption is 100 units for BAEF & BAFIF and 50 Units for BATAF. If the account balance is less than 100 (or 50) Units, no further partial redemption will be allowed and the entire balance will be redeemed in response to any redemption application received from the investor.
Speaking on the development, Sandeep Dasgupta, CEO, Bharti AXA Investment Managers Limited said “We are very delighted to be a part of this platform because this will help expand the investor base. This is a very convenient way to invest and investors will find it useful.”
Madhu Kannan, MD&CEO, BSE, added, “We are glad to have the addition of Bharti AXA funds on the BSE Star MF platform and are positive that this will bring additional investors to BSE and Bharti AXA. Such encouraging participation will gradually enhance the BSE StAR MF platform and we would continue to get better to bring convenience to the investors, the industry and the market at large."
