During the NFO period, Axis MF’s fixed maturity fund collects Rs 600 crore.

Axis Mutual Fund said that it has raised more over Rs 600 crore under the Axis Fixed Term Plan Series 118 (100-day) New Fund Offering (NFO). According to a statement from Axis Mutual Fund, the fund, a closed-ended debt scheme with a modest credit risk and interest rate risk, started on November 28 and closed on December 4.

“The strong response received by the fund reflects the opportunities currently available in the Indian money market space. Fixed maturity products aim to provide a degree of stability to investors as we head into Q4, often a volatile period for debt markets,” B Gopkumar, MD and CEO of Axis AMC

Over the next three months, a number of events, including the Union Budget for 2024, the impending US Fed decision, and tax season in advance, are expected to keep rates volatile.

For fixed income investors searching for short-term parking alternatives, the current yield curve, spreads on high-quality money market instruments, and the general sentiment of the market present an excellent opportunity.

Investments in debt and money market instruments, such as corporate and government bonds, certificates of deposit (CDs), commercial papers (CPs), and Treasury bills (T-bills), are made through fixed-term plans.