SCHEME INFORMATION DOCUMENT

- 1 -

Axis Fixed Term Plan - Series 120 (91 Days)

AXIS FIXED TERM PLAN - SERIES 120 (91 Days)

A Close ended debt scheme; A Moderate Interest Rate Risk and Moderate Credit Risk

Offer of Units of Rs. 10 each during the New Fund Offer,

For Series with Tenure up to 1100 days with at least 65% portfolio exposure in AAA/ A1+ rated

securities;

This product is

suitable for

investors who are

seeking*:

Product Riskometer

Axis Fixed Term Plan – Series

120 (91 Days)

Benchmark

Riskometer

CRISIL Liquid Debt

Index

Potential Risk Class

• Optimal

returns over

91 Days.

• Investment in

debt &

money

market

instruments

maturing on

or before the

maturity of

the scheme.

POTENTIAL RISK CLASS

Credit

Risk

Rela

tivel

Low

(Cla

ss A)

Moder

ate

(Class

Relativel

y High

(Class C)

Interest

Rate

Risk

Relative

ly Low

(Class I)

Modera

(Class II)

B - II

Relative

ly High

(Class

III)

*Investors should consult their financial advisers if in doubt about whether the product is

suitable for them.

(The product labelling including PRC will be assigned during the New Fund Offer is based on

internal assessment of the Scheme Characteristics or model portfolio and the same may vary

post NFO when actual investments are made)

New Fund Offer Opens on: January 18, 2024

New Fund Offer Closes on: January 23, 2024

Name of Mutual Fund

Axis Mutual Fund

Name of Asset Management

Company

Axis Asset Management Company Limited

Name of Trustee Company

Axis Mutual Fund Trustee Limited

Addresses, Website of the entities

Axis House, 1

Floor, C-2, Wadia International

Centre, Pandurang Budhkar Marg, Worli, Mumbai -

400 025 www.axismf.com

Name of Sponsor

Axis Bank Ltd.

The particulars of the Scheme have been prepared in accordance with the Securities and

Exchange Board of India (Mutual Funds) Regulations, 1996, (herein after referred to as SEBI

(MF) Regulations or the Regulations) as amended till date, and filed with SEBI, along with a

Due Diligence Certificate from the Asset Management Company (AMC). The Units being

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Axis Fixed Term Plan - Series 120 (91 Days)

offered for public subscription have not been approved or recommended by SEBI nor has

SEBI certified the accuracy or adequacy of the Scheme Information Document.

The Scheme Information Document sets forth concisely the information about the Scheme

that a prospective investor ought to know before investing. Before investing, investors should

also ascertain about any further changes to this Scheme Information Document after the

date of this Document from the Mutual Fund / Investor Service Centres / Website / Distributors

or Brokers.

The investors are advised to refer to the Statement of Additional Information (SAI) for details of

Axis Mutual Fund, Tax and Legal issues and general information on www.axismf.com.

SAI is incorporated by reference (is legally a part of the Scheme Information Document). For

a free copy of the current SAI, please contact your nearest Investor Service Centre or log on

to our website.

The Scheme Information Document should be read in conjunction with the SAI and not in

isolation.

The Mutual Fund or AMC and its empaneled brokers have not given and shall not give any

indicative portfolio and indicative yield in any communication, in any manner whatsoever.

Investors are advised not rely on any communication regarding indicative yield/portfolio with

regard to the scheme.

This Scheme Information Document is dated January 09, 2024.

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Axis Fixed Term Plan - Series 120 (91 Days)

DISCLAIMER:

BSE Limited has vide its letter number LO/IPO/AH/MF/IP/028/2023-24 dated July 24, 2023 given

its permission to Axis Mutual Fund to use the Exchange’s name in the SID of Axis Fixed Term

Plan - Series 120 (91 Days) as one of the Stock Exchanges on which this Mutual Fund’s Units

are proposed to be listed. The Exchange has scrutinized this SID for its limited internal purpose

of deciding on the matter of granting the aforesaid permission to Axis Mutual Fund. The

Exchange does not in any manner: -

i) warrant, certify or endorse the correctness or completeness of any of the contents of this

SID; or

ii) warrant that this scheme’s unit will be listed or will continue to be listed on the Exchange;

iii) take any responsibility for the financial or other soundness of this Mutual Fund, its

promoters, its management or any scheme or project of this Mutual Fund.

and it should not for any reason be deemed or construed that this SID has been cleared or

approved by the Exchange. Every person who desires to apply for or otherwise acquires any

unit of Axis Fixed Term Plan - Series 120 (91 Days) of this Mutual Fund may do so pursuant to

independent inquiry, investigation and analysis and shall not have any claim against the

Exchange whatsoever by reason of any loss which may be suffered by such person

consequent to or in connection with such subscription/acquisition whether by reason of

anything stated or omitted to be stated herein or for any other reason whatsoever.

 
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Axis Fixed Term Plan - Series 120 (91 Days) 
 
TABLE OF CONTENTS 
 
Index 
HIGHLIGHTS/ SUMMARY OF THE SCHEME .................................................................................... 5 
I.  INTRODUCTION ......................................................................................................................... 9 
A. RISK FACTORS ............................................................................................................................. 9 
B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME ..................................................... 13 
C. SPECIAL CONSIDERATIONS, if any ......................................................................................... 13 
D. DEFINITIONS .............................................................................................................................. 14 
E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY ................................................... 17 
II.   INFORMATION ABOUT THE SCHEME ............................................................................................. 19 
A. TYPE OF THE SCHEME(S) .......................................................................................................... 19 
B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME(S)? .................................................. 19 
C.HOW WILL THE SCHEME(S) ALLOCATE ITS ASSETS? ................................................................ 19 
D.WHERE WILL THE SCHEME(S) INVEST? ...................................................................................... 21 
E. WHAT ARE THE INVESTMENT STRATEGIES? .............................................................................. 27 
F: FUNDAMENTAL ATTRIBUTES ...................................................................................................... 33 
G. HOW WILL THE SCHEME(S) BENCHMARK ITS PERFORMANCE? ........................................... 34 
 H. WHO MANAGES THE SCHEME(S)?......................................................................................... 34 
I. WHAT ARE THE INVESTMENT RESTRICTIONS? ........................................................................... 35 
J. CREATION OF SEGREGATED PORTFOLIO ............................................................................... 41 
K. HOW HAS THE SCHEME PERFORMED? ................................................................................... 45 
L. ADDITIONAL SCHEME RELATED DISCLOSURES .............................................................................. 45 
III. UNITS AND OFFER ............................................................................................................................ 47 
A. NEW FUND OFFER (NFO) ......................................................................................................... 47 
B. ONGOING OFFER DETAILS ....................................................................................................... 68 
C. PERIODIC DISCLOSURES.......................................................................................................... 76 
D. COMPUTATION OF NAV.......................................................................................................... 81 
IV. FEES AND EXPENSES ....................................................................................................................... 83 
A. NEW FUND OFFER (NFO) EXPENSES ........................................................................................ 83 
B. ANNUAL SCHEME RECURRING EXPENSES .............................................................................. 83 
C. LOAD STRUCTURE .................................................................................................................... 86 
D. WAIVER OF LOAD FOR DIRECT APPLICATIONS ..................................................................... 87 
V. RIGHTS OF UNITHOLDERS ................................................................................................................ 88 
VI.  PENALTIES,  PENDING  LITIGATION  OR  PROCEEDINGS,  FINDINGS  OF  INSPECTIONS  OR 
INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF BEING 
TAKEN BY ANY REGULATORY AUTHORITY .......................................................................................... 89 
 
 
 
 
 
 

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Axis Fixed Term Plan - Series 120 (91 Days)

HIGHLIGHTS/ SUMMARY OF THE SCHEME

Scheme Code: AXIS/C/D/FTP/23/09/0083

Investment objective

The Scheme will endeavour to generate returns through a portfolio of debt & money market

instruments that are maturing on or before the maturity of the Scheme. However, there is no

assurance that the investment objective of the Scheme will be achieved. The Scheme does

not assure or guarantee any returns.

Tenure

Tenure of the Scheme(s) is – 91 days from the date of allotment (including the date of

allotment.) If the maturity / pay out date falls on a non-business day, the maturity / pay out

date shall be the next business day.

Units of respective schemes(s) will be redeemed only on the Maturity Date of the respective

scheme(s)

Liquidity

The Units of the Scheme cannot be redeemed by the Unit holder directly with the Fund until

the Maturity Date.

The Units of the Scheme will be listed on the capital market segment of the BSE and/ or any

other Stock Exchange. Unit holders can purchase / sell Units on a continuous basis on BSE

and/or any other Stock Exchange(s) on which the Units are listed. The Units can be

purchased / sold during the trading hours of the Stock Exchange(s) like any other publicly

traded stock. The trading of Units on BSE and/or any other Stock Exchange(s) on which the

Units are listed will automatically get suspended one Business Day prior to the record date for

redemption of Units on Maturity Date/ Final Redemption Date. No separate notice will be

issued by the AMC informing about Maturity Record Date or Suspension of trading by the

stock exchange. However, the Fund reserves the right to change the record date for maturity

by issue of suitable notice. The Unit holders whose name(s) appear on the list of beneficial

owners as per the Depositories (NSDL/CDSL) on records date shall be entitled to receive

redemption proceeds of Units.

The price of the Units on the Stock Exchange(s) will depend on demand and supply at that

point of time and underlying NAV. There is no minimum investment limit, although Units are

normally traded in round lots of 1 Unit.

Please refer to para “Settlement of purchase / sale of Units of the Scheme on BSE” and

“Rolling Settlement” under the section “Cut off timing for subscriptions/ redemption/

switches” for further details.

Dematerialization of Units

The Unit holders are given an Option to hold the units by way of an Account Statement

(Physical form) or in Dematerialized (‘Demat’) form. Mode of holding shall be clearly

specified in the KIM cum application form. Unit holders holding the units in physical form will

not be able to trade or transfer their units till such units are dematerialized.

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Axis Fixed Term Plan - Series 120 (91 Days)

Unit holders opting to hold the units in demat form must provide their Demat Account details

in the specified section of the application form. The Unit holder intending to hold the units in

Demat form are required to have a beneficiary account with the Depository Participant (DP)

(registered with NSDL/ CDSL as may be indicated by the Fund at the time of launch) and will

be required to indicate in the application the DP’s name, DP ID Number and the beneficiary

account number of the applicant with the DP. In case Unit holders do not provide their

Demat Account details, an Account Statement shall be sent to them. Such investors will not

be able to trade on the stock exchange till the holdings are converted in to demat form.

Transfer of Units

Units held in Demat form are freely transferable in accordance with the provisions of SEBI

(Depositories and Participants) Regulations, as may be amended from time to time. Transfer

can be made only in favor of transferees who are capable of holding units and having a

Demat Account. The delivery instructions for transfer of units will have to be lodged with the

DP in requisite form as may be required from time to time and transfer will be affected in

accordance with such rules / regulations as may be in force governing transfer of securities in

dematerialized mode.

Payment of redemption proceeds

The AMC shall dispatch the Redemption proceeds within three (3) working Days from the

maturity date.

Benchmark

CRISIL Liquid Debt Index

Transparency/NAV Disclosure

The AMC will calculate and disclose the first NAV of the Scheme within a period of 5 business

days from the date of allotment. Subsequently, the AMC will calculate and disclose the NAVs

on all Business Days. The AMC shall update the NAVs on website of the Association of Mutual

Funds in India - AMFI (www.amfiindia.com) before 11.00 p.m. on every Business Day and shall

also update the NAVs on the website of AMC (www.axismf.com). If the NAVs are not

available before the commencement of Business Hours on the following day due to any

reason, the Mutual Fund shall issue a press release giving reasons and explaining when the

Mutual Fund would be able to publish the NAV.

The AMC will disclose the portfolio of the Scheme (along with ISIN) on fortnightly, monthly and

half yearly basis on the website of the Mutual Fund and AMFI within 5 days of every fortnight,

10 days from close of each month and within 10 days from the close of each half year (i.e.

March and 30

September) respectively in a user-friendly and downloadable

spreadsheet format. Further, AMC shall publish an advertisement, in an all India edition of

one national English daily newspaper and in one Hindi newspaper, every half year disclosing

the hosting of the half-yearly statement of its schemes portfolio on the website of the Mutual

Fund and AMFI and the modes through which unitholder can submit a request for a physical

or electronic copy of the statement of scheme portfolios.

The AMC will also provide a dashboard, in a comparable, downloadable (spreadsheet) and

machine readable format, providing performance and key disclosures like Scheme’s AUM,

investment objective, expense ratios, portfolio details, scheme’s past performance etc. on its

website.

The AMC will make available the Annual Report of the Scheme within four months of the end

of the financial year on its website and on the website of AMFI along with a link.

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Axis Fixed Term Plan - Series 120 (91 Days)

Loads

Entry Load: Not Applicable

Para 10.4 of Master Circular for Mutual Funds has decided that there shall be no Entry Load

for all Mutual Fund schemes.

Exit Load: Nil

Units under the scheme cannot be redeemed directly with the Fund as the Units of the

Scheme will be listed on the Stock Exchange(s). These units can be sold on a continuous basis

on the stock exchange(s) where the units will be listed during the trading hours on all trading

days. For more details on load structure, please refer paragraph ‘Load Structure’.

Minimum Application Amount (for purchase and switch in)

Rs. 5,000 and in multiples of Rs. 10/- thereafter

Non CTS / Outstation Cheques/Demand Drafts will not be accepted.

Application in NFO will be processed through Direct Credit mode(Transfer / NEFT / RTGS) only.

Switch-in requests from equity and hybrid schemes will be accepted up to January 22, 2024

till the cut-off time applicable for switches. Switch-in requests from debt schemes will be

accepted up to January 23, 2024, till the cut-off time applicable for switches.

Plans and Options under the Scheme

Plans

- Axis Fixed Term Plan - Series 120 (91 Days) - Regular Plan

- Axis Fixed Term Plan - Series 120 (91 Days) - Direct Plan

Each Plan offers the following option

- Growth

- Income Distribution cum Capital Withdrawal (IDCW)

Options

Sub-options

Growth

Nil

Income

Distribution

cum Capital

Withdrawal

(IDCW)

Quarterly IDCW Payout

Scheme(s) having maturity ranging up to 12 months will offer Quarterly IDCW option (payout

facility) in addition to Growth option.

IDCW may or may not be declared under this option at the discretion of the Trustee.

Direct Plan

Direct Plan is only for investors who purchase /subscribe Units in a Scheme directly with the

Fund and is not available for investors who route their investments through a Distributor.

All the Plans will have common portfolio.

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Axis Fixed Term Plan - Series 120 (91 Days)

Default Plan/Option

The investor must clearly specify his choice of plan/ option. In the absence of such clear

instruction, it will be assumed that the investor has opted for ‘default’ plan/ option and the

application will be processed accordingly as mentioned in the table for applicability of

Direct Plan/ Regular Plan under different scenarios mentioned underneath.

Investors subscribing under Direct Plan of a Scheme will have to indicate “Direct Plan”

against the Scheme name in the application form e.g. “Axis Fixed Term Plan - Series 120 (91

Days) - Direct Plan”. Investors should also indicate “Direct” in the ARN column of the

application form.

The investors may refer to the following table for applicability of Direct Plan/ Regular Plan

under different scenario: -

Scenario

Broker Code mentioned by

the investor

Plan mentioned by the

investor

Default Plan to be

captured

Not mentioned

Direct Plan

Not mentioned

Direct

Direct Plan

Not mentioned

Regular

Direct Plan

Mentioned

Direct

Direct Plan

Direct

Not Mentioned

Direct Plan

Direct

Regular

Direct Plan

Mentioned

Regular

Regular Plan

Mentioned

Not Mentioned

Regular Plan

In cases of wrong/ invalid/ incomplete ARN codes mentioned on the application form, the

application shall be processed under Regular Plan. The AMC shall contact and obtain the

correct ARN code within 30 calendar days of the receipt of the application form from the

investor/ distributor. In case, the correct code is not received within 30 calendar days, the

AMC shall reprocess the transaction under Direct Plan from the date of application without

any exit load.

Default option – Growth

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Axis Fixed Term Plan - Series 120 (91 Days)

I. INTRODUCTION

A. RISK FACTORS

i. Standard Risk Factors:

• Investment in mutual fund Units involves investment risks such as trading volumes,

settlement risk, liquidity risk, default risk including the possible loss of principal.

• As the price / value / interest rates of the securities in which the Scheme invests

fluctuates, the value of your investment in the Scheme may go up or down.

• Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future

performance of the Scheme.

• The name of the Scheme does not in any manner indicate either the quality of the

Scheme or its future prospects and returns.

• The sponsor is not responsible or liable for any loss resulting from the operation of the

Scheme beyond the initial contribution of Rs. 1 lac made by it towards setting up the

Fund.

• The Scheme is not a guaranteed or assured return scheme.

ii. Scheme Specific Risk Factors

Risks associated with investments in Fixed Income Securities

Interest-Rate Risk: Fixed income securities such as government bonds, corporate bonds,

money market instruments and derivatives run price-risk or interest-rate risk. Generally, when

interest rates rise, prices of existing fixed income securities fall and when interest rates drop,

such prices increase. The extent of fall or rise in the prices depends upon the coupon and

maturity of the security. It also depends upon the yield level at which the security is being

traded.

Re-investment Risk: Investments in fixed income securities carry re-investment risk as interest

rates prevailing on the coupon payment or maturity dates may differ from the original

coupon of the bond.

Basis Risk: The underlying benchmark of a floating rate security or a swap might become less

active or may cease to exist and thus may not be able to capture the exact interest rate

movements, leading to loss of value of the portfolio.

Spread Risk: In a floating rate security the coupon is expressed in terms of a spread or mark

up over the benchmark rate. In the life of the security this spread may move adversely

leading to loss in value of the portfolio. The yield of the underlying benchmark might not

change, but the spread of the security over the underlying benchmark might increase

leading to loss in value of the security.

Liquidity Risk: The liquidity of a bond may change, depending on market conditions leading

to changes in the liquidity premium attached to the price of the bond. At the time of selling

the security, the security can become illiquid, leading to loss in value of the portfolio.

Liquidity Risk on account of unlisted securities: The liquidity and valuation of the Schemes’

investments due to their holdings of unlisted securities may be affected if they have to be

sold prior to their target date of divestment. The unlisted security can go down in value

before the divestment date and selling of these securities before the divestment date can

lead to losses in the portfolio.

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Axis Fixed Term Plan - Series 120 (91 Days)

Credit Risk: This is the risk associated with the issuer of a debenture/bond or a Money Market

Instrument defaulting on coupon payments or in paying back the principal amount on

maturity. Even when there is no default, the price of a security may change with expected

changes in the credit rating of the issuer. It is to be noted here that a Government Security is

a sovereign security and is the safest. Corporate bonds carry a higher amount of credit risk

than Government Securities. Within corporate bonds also there are different levels of safety

and a bond rated higher by a particular rating agency is safer than a bond rated lower by

the same rating agency.

Settlement Risk: Fixed income securities run the risk of settlement which can adversely affect

the ability of the fund house to swiftly execute trading strategies which can lead to adverse

movements in NAV

Risk associated with Securitized Debt

The Scheme may invest in domestic securitized debt such as Asset Backed Securities (ABS) or

Mortgage Backed Securities (MBS). ABS are securitized debts where the underlying assets are

receivables arising from various loans including automobile loans, personal loans, loans

against consumer durables, etc. MBS are securitized debts where the underlying assets are

receivables arising from loans backed by mortgage of residential / commercial properties.

At present in Indian market, following types of loans are securitized:

1. Auto Loans (cars / commercial vehicles /two wheelers)

2. Residential Mortgages or Housing Loans

3. Consumer Durable Loans

4. Personal Loans

5. Corporate Loans

In terms of specific risks attached to securitization, each asset class would have different

underlying risks. Residential Mortgages generally have lower default rates than other asset

classes, but repossession becomes difficult. On the other hand, repossession and subsequent

recovery of commercial vehicles and other auto assets is fairly easier and better compared

to mortgages. Asset classes like personal loans, credit card receivables are unsecured and in

an economic downturn may witness higher default. A corporate loan/receivable, depend

upon the nature of the underlying security for the loan or the nature of the receivable and

the risks correspondingly fluctuate.

The rating agencies define margins, over collateralization and guarantees to bring risk in line

with similar AAA rated securities. The factors typically analyzed for any pool are as follows:

a. Assets securitized and Size of the loan: This indicates the kind of assets financed with the

loan and the average ticket size of the loan. A very low ticket size might mean more costs

in originating and servicing of the assets.

b. Diversification: Diversification across geographical boundaries and ticket sizes might result

in lower delinquency

c. Loan to Value Ratio: Indicates how much % value of the asset is financed by borrower’s

own equity. The lower this value the better it is. This suggests that where the borrowers

own contribution of the asset cost is high; the chances of default are lower.

d. Average seasoning of the pool: This indicates whether borrowers have already displayed

repayment discipline. The higher the number, the more superior it is.

The other main risks pertaining to Securitized debt are as follows:

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Axis Fixed Term Plan - Series 120 (91 Days)

Prepayment Risk: This arises when the borrower pays off the loan sooner than expected.

When interest rates decline, borrowers tend to pay off high interest loans with money

borrowed at a lower interest rate, which shortens the average maturity of ABSs. However,

there is some prepayment risk even if interest rates rise, such as when an owner pays off a

mortgage when the house is sold or an auto loan is paid off when the car is sold.

Reinvestment Risk: Since prepayment risk increases when interest rates decline, this also

introduces reinvestment risk, which is the risk that the principal can only be reinvested at a

lower rate.

Risks associated with investment in Derivatives Transactions

Credit Risk: The credit risk is the risk that the counter party will default in its obligations and is

generally small as in a Derivative transaction there is generally no exchange of the principal

amount.

Interest rate risk: Derivatives carry the risk of adverse changes in the price due to change in

interest rates.

Basis Risk: When a bond is hedged using a derivative, the change in price of the bond and

the change in price of the Derivative may not be fully correlated leading to basis risk in the

portfolio.

Liquidity risk: During the life of the derivative, the benchmark might become illiquid and

might not be fully capturing the interest rate changes in the market, or the selling, unwinding

prices might not reflect the underlying assets, rates and indices, leading to loss of value of the

portfolio.

Model Risk: The risk of mis–pricing or improper valuation of Derivatives.

Trade Execution: Risk where the final execution price is different from the screen price leading

to dilution in the spreads and hence impacting the profitability of the reverse arbitrage

strategy.

Systemic Risk: For Derivatives, especially OTC ones the failure of one Counter Party can put

the whole system at risk and the whole system can come to a halt.

Derivative products are leveraged instruments and can provide disproportionate gains as

well as disproportionate losses to the Investor. Execution of such strategies depends upon the

ability of the fund manager to identify such opportunities. Identification and execution of the

strategies to be pursued by the fund manager involve uncertainty and decision of fund

manager may not always be profitable. No assurance can be given that the fund manager

will be able to identify or execute such strategies.

The risks associated with the use of Derivatives are different from or possibly greater than, the

risks associated with investing directly in securities and other traditional investments.

Risks associated with Repo transactions in Corporate Bonds

The Scheme may be exposed to counter party risk in case of repo lending transactions in the

event of the counterparty failing to honor the repurchase agreement. However, in repo

transactions, the collateral may be sold and a loss is realized only if the sale price is less than

the repo amount. The risk is further mitigated through over-collateralization (the value of the

collateral being more than the repo amount).

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Axis Fixed Term Plan - Series 120 (91 Days)

Risks associated with segregated portfolio

1. Investor holding units of segregated portfolio may not able to liquidate their holding till

the time recovery of money from the issuer.

2. Security comprises of segregated portfolio may not realise any value.

3. Listing of units of segregated portfolio on recognised stock exchange does not

necessarily guarantee their liquidity. There may not be active trading of units in the stock

market. Further trading price of units on the stock market may be significantly lower than

the prevailing NAV.

Risk Factor associated with debt instruments having credit enhancement:

The Scheme may invest in debt instruments having credit enhancement backed by equity

shares/guarantees or other any assets as collateral. The profile of these issuers tend to be

relatively weak and there may be a pledge of shares of a related party to enhance credit

quality or guarantees provided or any other asset provided as security acceptable to

lenders.

Where equity shares are provided as collateral there is the risk of sharp price volatility of

underlying securities which may lead to erosion in value of collateral which may affect the

ability of the fund to enforce collateral and recover capital and interest obligations. Also

there is a possibility of guarantor going insolvent which also can impact the recovery value of

exposure. In case of credit enhanced structures backed by equity share the liquidity of the

underlying shares may be low leading to a lower recovery and a higher impact cost of

liquidation. In case of other assets provided recovery value and enforce ability of asset can

also be a risk factor which can lower the recovery value.

Risks related to Listing of Mutual Fund units

Listing of the units of the fund does not necessarily guarantee their liquidity and there can be

no assurance that an active secondary market for the units will develop or be maintained.

Consequently, the Fund may quote below its face value / NAV.

Trading in Units of the scheme on the Exchange may be halted because of market

conditions or for reasons that in view of Exchange Authorities or SEBI, trading in Units of the

scheme is not advisable. In addition, trading in Units of the Scheme is subject to trading halts

caused by extraordinary market volatility and pursuant to Exchange and SEBI 'circuit filter'

rules. There can be no assurance that the requirements of Exchange necessary to maintain

the listing of Units of the scheme will continue to be met or will remain unchanged. Any

changes in trading regulations by the Stock Exchange(s) or SEBI may inter-alia result in wider

premium/ discount to NAV. The Units of the scheme(s) may trade above or below their NAV.

The NAV of the scheme will fluctuate with changes in the market value of scheme’s holdings.

The trading prices of Units of the scheme will fluctuate in accordance with changes in their

NAV as well as market supply and demand for the Units of the scheme(s). The Units will be

issued in demat form through depositories. The records of the depository are final with respect

to the number of Units available to the credit of Unit holder. Settlement of trades, repurchase

of Units by the Mutual Fund on the maturity date will depend upon the confirmations to be

received from depository(ies) on which the Mutual Fund has no control.

The market price of the Units of the scheme(s), like any other listed security, is largely

dependent on two factors, viz., (1) the intrinsic value of the Unit (or NAV), and (2) demand

and supply of Units in the market. Sizeable demand or supply of the Units in the Exchange

may lead to market price of the Units to quote at premium or discount to NAV. As the Units

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Axis Fixed Term Plan - Series 120 (91 Days)

allotted under the Scheme will be listed on the Exchange, the Mutual Fund shall not provide

for redemption / repurchase of Units prior to maturity date of the Scheme.

Risk Factor associated with Close-ended Schemes

Investing in close-ended Schemes is more appropriate for seasoned investors. A close-ended

Scheme endeavors to achieve the desired returns only at the scheduled maturity of the

Scheme. Investors who wish to exit/redeem before the scheduled maturity date may do so

through the stock exchange mode, if they have opted to hold Units in a demat form, by

mentioning their demat details on the NFO application form. For the units listed on the

exchange, it is possible that the market price at which the units are traded may be at a

discount to the NAV of such Units. Hence, Unit Holders who sell their Units in a Scheme prior to

maturity may not get the desired returns.

B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME

The Scheme/Series shall have a minimum of 20 investors and no single investor shall account

for more than 25% of the corpus of the Scheme/Series. These conditions will be complied with

immediately after the close of the NFO itself i.e. at the time of allotment. In case of non-

fulfillment with the condition of minimum 20 investors, the Scheme/Series shall be wound up in

accordance with Regulation 39(2)(c) of SEBI (MF) Regulations automatically without any

reference from SEBI. In case of non-fulfillment with the condition of 25% holding by a single

investor on the date of allotment, the application to the extent of exposure in excess of the

stipulated 25% limit would be liable to be rejected and the allotment would be effective only

to the extent of 25% of the corpus collected. Consequently, such exposure over 25% limits will

lead to refund within 5 business days from the date of closure of the New Fund Offer.

C. SPECIAL CONSIDERATIONS, if any

• Prospective investors should study this Scheme Information Document and Statement of

Additional Information carefully in its entirety and should not construe the contents

hereof as advise relating to legal, taxation, financial, investment or any other matters and

are advised to consult their legal, tax, financial and other professional advisors to

determine possible legal, tax, financial or other considerations of subscribing to or

redeeming Units, before making a decision to invest/redeem/hold Units.

• The Scheme related documents i.e. SID/ KIM/ SAI or the units of the Fund are not

registered in any jurisdiction including the United States of America nor in any provincial/

territorial jurisdiction in Canada. The distribution of the Scheme related document in

certain jurisdictions may be restricted or subject to registration requirements and,

accordingly, persons who come into possession of the Scheme related documents are

required to inform themselves about, and to observe any such restrictions. No persons

receiving a copy of this Scheme related documents or any accompanying application

form in such jurisdiction may treat these Scheme related documents or such application

form as constituting an invitation to them to subscribe for units, nor should they in any

event use any such application form, unless in the relevant jurisdiction such an invitation

could lawfully be made to them and such application form could lawfully be used

without compliance with any registration or other legal requirements. Accordingly, the

Scheme related documents do not constitute an offer or solicitation by anyone in any

jurisdiction in which such offer or solicitation is not lawful or in which the person making

such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to

make such offer or solicitation as per applicable law.

- 14 -

Axis Fixed Term Plan - Series 120 (91 Days)

• The AMC, Trustee or the Mutual Fund have not authorized any person to issue any

advertisement or to give any information or to make any representations, either oral or

written, other than that contained in this Scheme Information Document or the Statement

of Additional Information or as provided by the AMC in connection with this offering.

Prospective investors are advised not to rely upon any information or representation not

incorporated in the Scheme Information Document or Statement of Additional

Information or as provided by the AMC as having been authorized by the Mutual Fund,

the AMC or the Trustee.

• Redemption due to change in the fundamental attributes of the Scheme or due to any

other reasons may entail tax consequences. The Trustee, AMC, Mutual Fund, their

directors or their employees shall not be liable for any such tax consequences that may

arise due to such redemptions.

• The Trustee, AMC, Mutual Fund, their directors or their employees shall not be liable for

any of the tax consequences that may arise, in the event that the Scheme/Plan(s) is

wound up for the reasons and in the manner provided in ‘Statement of Additional

Information.

• The tax benefits described in this Scheme Information Document and Statement of

Additional Information are as available under the present taxation laws and are available

subject to relevant conditions. The information given is included only for general purpose

and is based on advise received by the AMC regarding the law and practice currently in

force in India as on the date of this Scheme Information Document and the Unit holders

should be aware that the relevant fiscal rules or their interpretation may change. As is the

case with any investment, there can be no guarantee that the tax position or the

proposed tax position prevailing at the time of an investment in the Scheme will endure

indefinitely. In view of the individual nature of tax consequences, each Unit holder is

advised to consult his / her own professional tax advisor.

• The Mutual Fund may disclose details of the investor’s account and transactions there

under to those intermediaries whose stamp appears on the application form or who have

been designated as such by the investor. In addition, the Mutual Fund may disclose such

details to the bankers, as may be necessary for the purpose of effecting payments to the

investor. The Fund may also disclose such details to regulatory and statutory

authorities/bodies as may be required or necessary.

• Pursuant to the provisions of Prevention of Money Laundering Act, 2002, if after due

diligence, the AMC believes that any transaction is suspicious in nature as regards money

laundering, on failure to provide required documentation, information, etc. by the unit

holder the AMC shall have absolute discretion to report such suspicious transactions to

FIU-IND and/or to freeze the folios of the investor(s), reject any application(s) / allotment

of units.

D. DEFINITIONS

"AMC" or "Asset

Management

Company" or

"Investment

Manager

Axis Asset Management Company Limited incorporated under the provisions of

the Companies Act, 1956 and approved by Securities and Exchange Board of

India to act as the Asset Management Company for the scheme(s) of Axis

Mutual Fund.

“Business Day”

A day other than:

(i) Saturday and Sunday;

(ii) A day on which the banks in Mumbai and /or RBI are closed for business

/clearing;

(iii) A day on which the National Stock Exchange of India Limited and/or BSE

Ltd., Mumbai are closed;

(iv) A day which is a public and /or bank Holiday at an Investor Service

- 15 -

Axis Fixed Term Plan - Series 120 (91 Days)

Centre/Official Point of Acceptance where the application is received;

(v) A day on which Sale / Redemption / Switching of Units is suspended by the

AMC;

(vi) A day on which normal business cannot be transacted due to storms, floods,

bandhs, strikes or such other events as the AMC may specify from time to

time.

Further, the day(s) on which the money markets and/or debt markets are closed

/ not accessible, may not be treated as Business Day(s).

The AMC reserves the right to declare any day as a Business Day or otherwise at

any or all Investor Service Centers/Official Points of Acceptance.

"Business Hours"

Presently 9.30 a.m. to 5.30 p.m. on any Business Day or such other time as may be

applicable from time to time.

"Custodian"

A person who has been granted a certificate of registration to carry on the

business of custodian of securities under the Securities and Exchange Board of

India (Custodian) Regulations 1996, which for the time being is Deutsche Bank

AG.

"Depository"

Depository as defined in the Depositories Act, 1996 (22 of 1996).

"Derivative"

Derivative includes (i) a security derived from a debt instrument, share, loan

whether secured or unsecured, risk instrument or contract for differences or any

other form of security; (ii) a contract which derives its value from the prices, or

index of prices, or underlying securities.

"Exit Load"

Load on Redemption / Switch out of Units.

“Foreign Portfolio

Investor” or (“FPI”)

A person who satisfies the eligibility criteria prescribed under regulation 4 of

Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations,

2019 and has been registered under Chapter II of these regulations, which shall

be deemed to be an intermediary in terms of the provisions of the Act.

"Floating Rate

Debt Instruments"

Floating rate debt instruments are debt securities issued by Central and / or State

Government, corporates or PSUs with interest rates that are reset periodically. The

periodicity of the interest reset could be daily, monthly, quarterly, half-yearly,

annually or any other periodicity that may be mutually agreed with the issuer

and the Fund. The interest on the instruments could also be in the nature of fixed

basis points over the benchmark gilt yields.

"Gilts" or

"Government

Securities"

Securities created and issued by the Central Government and/or a State

Government (including Treasury Bills) or Government Securities as defined in the

Government Securities Act, 2006,, as amended or re-enacted from time to time.

“GOI”

Government of India

“Holiday”

Holiday means the day(s) on which the banks (including the Reserve Bank of

India)are closed for business or clearing in Mumbai or their functioning is affected

due to a strike / bandh call made at any part of the country or due to any other

reason.

"Investment

Management

Agreement"

The agreement dated June 27, 2009 entered into between Axis Mutual Fund

Trustee Limited and Axis Asset Management Company Limited, as amended

from time to time.

"Investor Service

Centres" or "ISCs"

Offices of Axis Asset Management Company Limited or such other centers /

offices as may be designated by the AMC from time to time.

"Load"

In the case of Redemption / Switch out of a Unit, the sum of money deducted

from the Applicable NAV on the Redemption / Switch out (Exit Load) and in the

case of Sale / Switch in of a Unit, a sum of money to be paid by the prospective

investor on the Sale / Switch in of a Unit (Entry Load) in addition to the Applicable

NAV. Presently, entry load cannot be charged by mutual fund schemes.

"Money Market

Includes commercial papers, commercial bills, treasury bills, Government

- 16 -

Axis Fixed Term Plan - Series 120 (91 Days)

Instruments"

securities having an unexpired maturity up to one year, call or notice money,

certificate of deposit, usance bills and any other like instruments as specified by

the Reserve Bank of India from time to time.

"Mutual Fund" or

"the Fund"

Axis Mutual Fund, a trust set up under the provisions of the Indian Trusts Act, 1882.

"Net Asset Value"

or "NAV"

Net Asset Value per Unit of the Scheme(s), calculated in the manner described in

this Scheme Information Document or as may be prescribed by the SEBI (MF)

Regulations from time to time.

"NRI"

A Non-Resident Indian or a Person of Indian Origin residing outside India.

"Official Points of

Acceptance"

Any location, as may be defined by the Asset Management Company from time

to time, where investors can tender the request for subscription (during the new

fund offer period for a close ended scheme), redemption or switching of units,

etc.

“Overseas Citizen

of India” or “OCI”

Means a person registered as an Overseas Citizen of India Cardholder by the

Central Government under section 7A of The Citizenship Act, 1955.

"Person of Indian

Origin"

A citizen of any country other than Bangladesh or Pakistan, if (a) he at any time

held an Indian passport; or (b) he or either of his parents or any of his

grandparents was a citizen of India by virtue of Constitution of India or the

Citizenship Act, 1955 (57 of 1955); or (c) the person is a spouse of an Indian citizen

or person referred to in sub-clause (a) or (b).

"Rating"

Rating means an opinion regarding securities, expressed in the form of standard

symbols or in any other standardized manner, assigned by a credit rating agency

and used by the issuer of such securities, to comply with any requirement of the

SEBI (Credit Rating Agencies) Regulations, 1999 as amended from time to time.

"RBI"

Reserve Bank of India, established under the Reserve Bank of India Act, 1934, (2

of 1934)

"Registrar and

Transfer Agent" or

“Registrar”

KFin Technologies Limited, Hyderabad, currently acting as registrar to the

Scheme, or any other Registrar appointed by the AMC from time to time.

"Redemption” or

“Repurchase"

Redemption of Units of the Scheme, where permitted.

“Regulatory

Agency”

GOI, SEBI, RBI or any other authority or agency entitled to issue or give any

directions, instructions or guidelines to the Mutual Fund

“Repo”

Sale/Repurchase of Securities with simultaneous agreement to repurchase / resell

them at a later date.

"Statement of

Additional

Information" or

"SAI"

The document issued by Axis Mutual Fund containing details of Axis Mutual Fund,

its constitution, and certain tax, legal and general information. SAI is legally a

part of the Scheme Information Document.

"Sale or

Subscription"

Sale or allotment of Units to the Unit holder upon subscription by the Investor /

applicant under the respective plans of the scheme.

"Scheme"

Axis Fixed Term Plan - Series 120 (91 Days) and each of the Plans launched there

under including the Options offered under such Plans referred to individually as

the Plan and collectively as the Plans or the Scheme in this Scheme Information

Document.

Each such Plan being a distinct entity is of the nature of a scheme under the SEBI

(MF) Regulations.

“Scheme

Information

Document”

This document issued by Axis Mutual Fund, offering Units of scheme(s) for

subscription.

"SEBI"

Securities and Exchange Board of India, established under the Securities and

Exchange Board of India Act, 1992.

- 17 -

Axis Fixed Term Plan - Series 120 (91 Days)

"SEBI (MF)

Regulations" or

"Regulations"

Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as

amended from time to time.

"Sponsor"

Axis Bank Limited

"Switch"

Redemption of a unit in any scheme (including the plans and options therein) of

the Mutual Fund against purchase of a unit in another scheme (including the

plans and options therein) of the Mutual Fund, subject to completion of Lock-in

Period, if any.

"Deed of Trust"

The Deed of Trust dated June 27, 2009 made by and between Axis Bank Limited

and Axis Mutual Fund Trustee Limited thereby establishing an irrevocable trust,

called Axis Mutual Fund.

“Tri Party Repo”

Tri Party Repo Dealing System (TREPS) facilitates borrowing and lending of funds,

in Triparty Repo arrangement.

“Trustee” or

“Trustee

Company”

Axis Mutual Fund Trustee Limited incorporated under the provisions of the

Companies Act, 1956 and approved by SEBI to act as the Trustee to the

Scheme(s) of the Axis Mutual Fund.

"Unit"

The interest of the Unit holder which consists of each Unit representing one

undivided share in the assets of the Scheme.

"Unit holder" or

"Investor"

A person holding Unit in the Scheme of Axis Mutual Fund offered under this

Scheme Information Document.

INTERPRETATION

For all purposes of this Scheme Information Document, except as otherwise expressly

provided or unless the context otherwise requires:

• all references to the masculine shall include the feminine and all references, to the

singular shall include the plural and vice-versa.

• all references to "dollars" or "$" refer to United States Dollars and "Rs" refer to Indian

Rupees. A "crore" means "ten million" and a "lakh" means a "hundred thousand".

• all references to timings relate to Indian Standard Time (IST).

• References to a day are to a calendar day including a non-Business Day.

E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY

It is confirmed that:

(i) The Scheme Information Document forwarded to SEBI is in accordance with the

SEBI (Mutual Funds) Regulations, 1996 and the guidelines and directives issued by

SEBI from time to time.

(ii) All legal requirements connected with the launching of the Scheme as also the

guidelines, instructions, etc., issued by the Government and any other competent

authority in this behalf, have been duly complied with.

(iii) The disclosures made in the Scheme Information Document are true, fair and

adequate to enable the investors to make a well informed decision regarding

investment in the Scheme.

(iv) The intermediaries named in the Scheme Information Document and Statement

of Additional Information are registered with SEBI and their registration is valid, as

on date.

(v) There are no deviations from the regulations and no subjective interpretations

have been applied to the provisions of the regulations unless specified.

(vi) The contents of Scheme Information Document including figures, data, yields, etc.

have been checked and are factually correct.

- 18 -

Axis Fixed Term Plan - Series 120 (91 Days)

(vii) AMC has complied with the set of checklist applicable for Scheme Information

Documents.

Place: Mumbai

Signed: Sd/-

Date: January 10, 2024

Name: Darshan Kapadia

Designation: Compliance Officer

- 19 -

Axis Fixed Term Plan - Series 120 (91 Days)

II. INFORMATION ABOUT THE SCHEME

A. TYPE OF THE SCHEME(S)

A Close ended debt scheme, A Moderate Interest Rate Risk and Moderate Credit Risk.

B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME(S)?

The Scheme will endeavour to generate returns through a portfolio of debt & money market

instruments that are maturing on or before the maturity of the scheme. However, there is no

assurance that the investment objective of the Scheme will be achieved. The Scheme does

not assure or guarantee any returns.

C.HOW WILL THE SCHEME(S) ALLOCATE ITS ASSETS?

Under normal circumstances, the asset allocation will be:

For scheme(s) having maturity up to 400 days

Instruments

Indicative Allocation

(% of net assets)

Risk Profile

Debt * and Money Market Instruments

0 - 100%

Low to Moderate

*securitized debt up to 40% of the debt portfolio. The Scheme shall not invest in foreign

securitized debt.

Investment in Derivatives - up to 50% of the debt portfolio. Investment in derivatives shall be

for hedging. The cumulative gross exposure through debt (including money market

instruments) and derivative positions shall not exceed 100% of the net assets of the scheme.

Cash or cash equivalents with residual maturity of less than 91 days shall be treated as not

creating any exposure. SEBI vide letter dated November 3, 2021, has clarified that Cash

Equivalent shall consist of Government Securities, T-Bills and Repo on Government Securities

having residual maturity of less than 91 days.

Investment in Repo in Corporate Debt Securities

The Scheme may undertake repo transactions in corporate debt securities in accordance

with the directions issued by RBI and SEBI from time to time. The gross exposure of the Scheme

to repo transactions in corporate debt securities shall not be more than 10% of the net assets

of the Scheme or such higher limit as may be specified by SEBI. Further investment shall be

made subject to the guidelines which may be prescribed by the Board of Directors of the

Asset Management Company and Trustee Company.

Credit Enhancement / Structured Obligations:

In accordance with the Para 12.3 of Master Circular for Mutual Funds, the investment by the

Scheme in the following instruments shall not exceed 10% of the debt portfolio of the scheme

and the group exposure in such instruments shall not exceed 5% of the debt portfolio of the

scheme:

a. Unsupported rating of debt instruments (i.e. without factoring-in credit enhancements) is

below investment grade and

b. Supported rating of debt instruments (i.e. after factoring-in credit enhancement) is above

investment grade.

- 20 -

Axis Fixed Term Plan - Series 120 (91 Days)

These limits shall not be applicable on investments in securitized debt instruments, as defined

in SEBI (Public Offer and Listing of Securitized Debt Instruments) Regulations 2008. The Scheme

shall invest in abovementioned securities within such limits as may be revised by SEBI from

time to time.

Investment in Mutual Fund units

The Scheme may seek exposure in Mutual Fund units of debt schemes subject to applicable

Regulations. Such investment shall not exceed 5% of the net assets of the Scheme.

The scheme will not invest in unrated debt instruments, Credit default Swaps (CDS), securities

covered under under Para 12.2 of Master circular for Mutual Fund Scheme , REITs / InvITs,

foreign Securities. The Scheme will not engage in short selling and securities lending.

The scheme retains the flexibility to invest across all the securities in the debt, Money Markets

Instruments and units of mutual funds. The fund manager can use Derivative instruments to

protect the downside risk.

Investment in Short Term Deposits

Pending deployment of the funds in securities in terms of investment objective of the Scheme,

the AMC may in terms of Para 12.16 of Master Circular for Mutual Fund may be amended

from time to time as may be amended from time to time, park the funds of the Scheme in

short term deposits of the Scheduled Commercial Bank

The net assets of the Scheme will be invested in Debt & Money market instruments maturing

on or before the maturity date of the scheme.

Due to market conditions, the AMC may invest beyond the range set out in the

asset allocation. Such deviations shall normally be for a short term and defensive

considerations as per Para 2.9 of Master Circular for Mutual Funds, and the fund manager will

rebalance the portfolio within 30 calendar days from the date of deviation.

Further, as per Para 2.9 of Master Circular for Mutual Funds , as may be amended from time

to time, in the event of deviation from mandated asset allocation due to passive breaches

(occurrence of instances not arising out of omission and commission of the AMC), the fund

manager shall rebalance the portfolio of the Scheme within 30 Business Days. In case the

portfolio of the Scheme is not rebalanced within the period of 30 Business Days, justification in

writing, including details of efforts taken to rebalance the portfolio shall be placed before the

Investment Committee of the AMC. The Investment Committee, if it so desires, can extend

the timeline for rebalancing up to sixty (60) Business Days from the date of completion of

mandated rebalancing period. Further, in case the portfolio is not rebalanced within the

aforementioned mandated plus extended timelines the AMC shall comply with the

prescribed restrictions, the reporting and disclosure requirements as specified in under Para

2.9 of Master circular for Mutual Fund Scheme.

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Axis Fixed Term Plan - Series 120 (91 Days)

D.WHERE WILL THE SCHEME(S) INVEST?

The corpus of the scheme will be invested in Debt Instruments, Money Market Instruments and

other permitted securities which will include but not limited to:

Debt Instruments, and Money Market Instruments:

Certificate of Deposit (CD)

Certificate of Deposit is a negotiable money market instrument issued by scheduled

commercial banks and select all-India Financial Institutions that have been permitted by the

RBI to raise short term resources. The maturity period of CDs issued by the Banks is between 7

days to one year, whereas, in case of FIs, maturity is one year to 3 years from the date of

issue.

Commercial Paper (CP)

Commercial Paper is an unsecured negotiable money market instrument issued in the form of

a promissory note, generally issued by the corporates, primary dealers and all India Financial

Institutions as an alternative source of short term borrowings. CP is traded in secondary

market and can be freely bought and sold before maturity.

Treasury Bill (T-Bills)

Treasury Bills are issued by the Government of India to meet their short term borrowing

requirements. T-Bills are issued for maturities of 14 days, 91 days, 182 days and 364 days.

The Scheme may also invest in Cash Management Bill (CMB) issued by the Government of

India to meet their short term borrowing requirements. CMB are generally issued for maturities

of less than 91 days.

Commercial Usance Bills

Bill (bills of exchange/ promissory notes of public sector and private sector corporate entities)

Rediscounting, usance bills and commercial bills.

Repos

Repo (Repurchase Agreement) or Reverse Repo is a transaction in which two parties agree

to sell and purchase the same security with an agreement to purchase or sell the same

security at a mutually decided future date and price. The transaction results in collateralized

borrowing or lending of funds. Presently in India, corporate debt securities, G-Secs, State

Government securities and T-Bills are eligible for Repo/Reverse Repo.

Tri-party repo means a repo contract where a third entity (apart from the borrower and

lender), called a Tri-Party Agent, acts as an intermediary between the two parties to the repo

to facilitate services like collateral selection, payment and settlement, custody and

management during the life of the transaction.

The Scheme may undertake repo or reverse repo transactions accordance with the

directions issued by RBI and SEBI from time to time. Such investment shall be made subject to

the guidelines which may be prescribed by the Board of Directors of the Asset Management

Company and Trustee Company.

Securities created and issued by the Central and State Governments as may be permitted by

RBI

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Axis Fixed Term Plan - Series 120 (91 Days)

These securities guaranteed by the Central and State Governments (including but not limited

to coupon bearing bonds, zero coupon bonds and treasury bills). State Government

securities (popularly known as State Development Loans or SDLs) are issued by the respective

State Government in co-ordination with the RBI.

Non-Convertible Debentures and Bonds

Non-convertible debentures as well as bonds are securities issued by companies / institutions

promoted / owned by the Central or State Governments and statutory bodies which may or

may not carry a Central/State Government guarantee, Public and private sector banks, all

India Financial Institutions and Private Sector Companies. These instruments may have fixed

or floating rate coupon. These instruments may be secured or unsecured against the assets

of the Company and generally issued to meet the short term and long term fund

requirements.

The Scheme may also invest in the non-convertible part of convertible debt securities.

Securitized Assets

Securitization is a structured finance process which involves pooling and repackaging of cash

flow producing financial assets into securities that are then sold to investors. They are termed

as Asset Backed Securities (ABS) or Mortgage Backed Securities (MBS). ABS are backed by

other assets such as credit card, automobile or consumer loan receivables, retail installment

loans or participations in pools of leases. Credit support for these securities may be based on

the underlying assets and/or provided through credit enhancements by a third party. MBS is

an asset backed security whose cash flows are backed by the principal and interest

payments of a set of mortgage loans. Such Mortgage could be either residential or

commercial properties. ABS/MBS instrument reflect the undivided interest in the underlying

assets and do not represent the obligation of the issuer of ABS/MBS or the originator of

underlying receivables. Securitization often utilizes the services of SPV.

Pass through Certificate (PTC)

(Pay through or other Participation Certificates) represents beneficial interest in an underlying

pool of cash flows. These cash flows represent dues against single or multiple loans originated

by the sellers of these loans. These loans are given by banks or financial institutions to

corporates. PTCs may be backed, but not exclusively, by receivables of personal loans, car

loans, two wheeler loans and other assets subject to applicable regulations.

The following are certain additional disclosures w.r.t. investment in securitized debt:

1. How the risk profile of securitized debt fits into the risk appetite of the Scheme?

Securitized debt is a form of conversion of normally non-tradable loans to transferable

securities. This is done by assigning the loans to a special purpose vehicle (a trust), which in

turn issues Pass-Through-Certificates (PTCs). These PTCs are transferable securities with fixed

income characteristics. The risk of investing in securitized debt is similar to investing in debt

securities. However, it differs in two respects.

Typically, the liquidity of securitized debt is less than similar debt securities. For certain types of

securitized debt (backed by mortgages, personal loans, credit card debt, etc.), there is an

additional pre-payment risk. Pre-payment risk refers to the possibility that loans are repaid

before they are due, which may reduce returns if the re-investment rates are lower than

initially envisaged.

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Axis Fixed Term Plan - Series 120 (91 Days)

Because of these additional risks, securitized debt typically offers higher yields than debt

securities of similar credit rating and maturity. If the fund manager judges that the additional

risks are suitably compensated by the higher returns, he may invest in securitized debt up to

the limits specified in the asset allocation table above.

2. Policy relating to originators based on nature of originator, track record, NPAs, losses in

earlier securitized debt, etc.

The originator is the person who has initially given the loan. The originator is also usually

responsible for servicing the loan (i.e. collecting the interest and principal payments). An

analysis of the originator is especially important in case of retail loans as this affects the credit

quality and servicing of the PTC. The key risk is that of the underlying assets and not of the

originator. For example, losses or performance of earlier issuances does not indicate quality

of current series. However, such past performance may be used as a guide to evaluate the

loan standards, servicing capability and performance of the originator.

Originators may be: Banks, Non-Banking Finance Companies, Housing Finance Companies,

etc. The fund manager / credit analyst evaluates originators based on the following

parameters

• Track record

• Willingness to pay, through credit enhancement facilities etc.

• Ability to pay

• Business risk assessment, wherein following factors are considered:

- Outlook for the economy (domestic and global)

- Outlook for the industry

- Company specific factors

In addition, a detailed review and assessment of rating rationale is done including

interactions with the originator as well as the credit rating agency.

The following additional evaluation parameters are used as applicable for the originator /

underlying issuer for pool loan and single loan securitization transactions:

• Default track record/ frequent alteration of redemption conditions / covenants

• High leverage ratios of the ultimate borrower (for single-sell downs) – both on a

standalone basis as well on a consolidated level/ group level

• Higher proportion of reschedulement of underlying assets of the pool or loan, as the

case may be

• Higher proportion of overdue assets of the pool or the underlying loan, as the case

may be

• Poor reputation in market

• Insufficient track record of servicing of the pool or the loan, as the case may be.

3. Risk mitigation strategies for investments with each kind of originator

An analysis of the originator is especially important in case of retail loans as the size and

reach affects the credit quality and servicing of the PTC. In addition, the quality of the

collection process, infrastructure and follow-up mechanism; quality of MIS; and credit

enhancement mechanism are key risk mitigants for the better originators / servicers.

In case of securitization involving single loans or a small pool of loans, the credit risk of the

underlying borrower is analyzed. In case of diversified pools of loans, the overall characteristic

of the loans is analyzed to determine the credit risk. The credit analyst looks at ageing (i.e.

- 24 -

Axis Fixed Term Plan - Series 120 (91 Days)

how long the loan has been with the originator before securitization) as one way of

evaluating the performance potential of the PTC. Securitization transactions may include

some risk mitigants (to reduce credit risk). These may include interest subvention (difference in

interest rates on the underlying loans and the PTC serving as margin against defaults),

overcollateralization (issue of PTCs of lesser value than the underlying loans, thus even if some

loans default, the PTC continues to remain protected), presence of an equity / subordinate

tranche (issue of PTCs of differing seniority when it comes to repayment - the senior tranches

get paid before the junior tranche) and / or guarantees.

4. The level of diversification with respect to the underlying assets, and risk mitigation

measures for less diversified investments

In case of securitization involving single loans or a small pool of loans, the credit risk of the

borrower is analyzed. In case of diversified pools of loans, the overall characteristic of the

loans is analyzed to determine the credit risk.

The credit analyst looks at ageing (i.e. how long the loan has been with the originator before

securitization) as one way of judging the performance potential of the PTC. Additional risk

mitigants may include interest subvention, over collateralization, presence of an equity /

subordinate tranche and / or guarantees. The credit analyst also uses analysis by credit rating

agencies on the risk profile of the securitized debt.

Currently, the following parameters are used while evaluating investment decision relating to

a pool securitization transaction. The Investment Review Committee may revise the

parameters from time to time.

Characteristics/Type

of Pool

Mortgage

Loan

Commercial

Vehicle and

Construction

Equipment

CAR

wheelers

Micro

Finance

Pools *

Personal

Loans *

Single

Sell

Downs

Others

Approximate

Average maturity (in

Months)

Up to 10

years

Up to 3

years

Up to 3

years

Up to 3

years

Refer

Note

Refer

Note

Collateral margin

(including cash,

guarantees, excess

interest spread,

subordinate

tranche)

>10%

“

Average Loan to

Value Ratio

<90%

<80%

“

Average seasoning

of the Pool

months

>3 months

months

“

Maximum single

exposure range

<1%

“

Average single

exposure range %

<1%

“

* Currently, the Scheme will not invest in these types of securitized debt

Note 1: In case of securitization involving single loans or a small pool of loans, the credit risk of

the borrower is analyzed. The investment limits applicable to the underlying borrower are

applied to the single loan sell-down.

2: Other investments will be decided on a case-to-case basis

- 25 -

Axis Fixed Term Plan - Series 120 (91 Days)

The credit analyst may consider the following risk mitigating measures in his analysis of the

securitized debt:

• Size of the loan

• Average original maturity of the pool

• Loan to Value Ratio

• Average seasoning of the pool

• Default rate distribution

• Geographical Distribution

• Credit enhancement facility

• Liquid facility

• Structure of the pool

5. Minimum retention period of the debt by originator prior to securitization

Issuance of securitized debt is governed by the Reserve Bank of India. RBI norms cover the

"true sale" criteria including credit enhancement and liquidity enhancements. In addition, RBI

has proposed minimum holding period of between nine and twelve months for assets before

they can be securitized. The minimum holding period depends on the tenor of the

securitization transaction. The Fund will invest in securitized debts that are compliant with the

laws and regulations.

6. Minimum retention percentage by originator of debts to be securitized

Issuance of securitized debt is governed by the Reserve Bank of India. RBI norms cover the

"true sale" criteria including credit enhancement and liquidity enhancements, including

maximum exposure by the originator in the PTCs. In addition, RBI has proposed minimum

retention requirement of between five and ten percent of the book value of the loans by the

originator. The minimum retention requirement depends on the tenor and structure of the

securitization transaction. The Fund will invest in securitized debts that are compliant with the

laws and regulations.

7. The mechanism to tackle conflict of interest when the mutual fund invests in securitized

debt of an originator and the originator in turn makes investments in that particular

scheme of the fund

The key risk is securitized debt relates to the underlying borrowers and not the originator. In a

securitization transaction, the originator is the seller of the debt(s) and the fund is the buyer.

However, the originator is also usually responsible for servicing the loan (i.e. collecting the

interest and principal payments). As the originators may also invest in the scheme, the fund

manager shall ensure that the investment decision is based on parameters as set by the

Investment Review Committee (IRC) of the Asset Management Company and IRC shall

review the same at regular interval.

8. The resources and mechanism of individual risk assessment with the AMC for monitoring

investment in securitized debt

The fund management team including the credit analyst has the experience to analyze

securitized debt. In addition, credit research agencies provide analysis of individual

instruments and pools. On an on-going basis (typically monthly) the servicer provides reports

regarding the performance of the pool. These reports would form the base for ongoing

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Axis Fixed Term Plan - Series 120 (91 Days)

evaluation where applicable. In addition, rating reports indicating rating changes would be

monitored for changes in rating agency opinion of the credit risk.

Short Term Deposits

Pending deployment of the funds in securities in terms of investment objective of the Scheme,

the AMC may in terms of Para 12.16 of Master Circular for Mutual Fund as may be amended

from time to time, park the funds of the Scheme in short term deposits of the Scheduled

Commercial Bank

Units of Mutual Fund schemes

The Scheme may invest in other schemes managed by the AMC or in the schemes of any

other mutual funds in conformity with the investment objective of the Scheme and in terms of

the prevailing SEBI (MF) Regulations.

The securities / instruments mentioned above and such other securities the Scheme is

permitted to invest in could be listed, privately placed, secured, unsecured, rated or unrated

and of any maturity (within the investment objective of the scheme).

The securities may be acquired through Initial Public Offering (IPOs), secondary market,

private placement, rights offer, negotiated deals, etc. Further investments in debentures,

bonds and other fixed income securities will be in instruments which have been assigned

investment grade rating by the Credit Rating Agency.

Investment in unrated debt instruments shall be subject to complying with the provisions of

the Regulations and within the limit as specified in Schedule VII to the Regulations. All such

investments shall be made with the prior approval of the Board of AMC and Trustees.

For applicable regulatory investment limits please refer paragraph "Investment Restrictions”.

Details of various derivative instruments along with derivative strategies have been provided

under the paragraph “Derivatives Strategy”.

The Fund Manager may invest in any other security as maybe permitted from time to time

and which are in line with the investment objectives of the Scheme.

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Axis Fixed Term Plan - Series 120 (91 Days)

E. WHAT ARE THE INVESTMENT STRATEGIES?

The fund manager will invest in debt & money market instruments maturing on or before the

maturity date of the scheme(s) with the objective of limiting interest rate volatility.

The fund manager will allocate assets of the scheme(s) between various fixed income

securities (which mature on or before the maturity of the scheme) with an endeavor to

achieve optimal risk adjusted returns.

The Scheme does not assure or guarantee any returns.

Credit evaluation policy

The investment team of the AMC will carry out rigorous in depth credit evaluation of the

money market and debt instruments proposed to be invested in. The credit evaluation will

essentially be a bottom up approach and include a study of the operating environment of

the issuer, the past track record as well as the future prospects of the issuer and the short term

/ long term financial health of the issuer.

List of sectors the fund would not be investing

Aviation and gems & jewelry.

Floors and ceilings within a range of 5% of the intended allocation (in %) against each sub

asset class/rating

As per the regulations, the scheme is allowed to invest within a range of 5% of the intended

allocation (floor and cap) against each sub asset class/credit rating.

Instruments

Credit Rating

AAA

A1+

BBB

Not applicable

CDs

35%-40%

CPs

60%-65%

NCDs/ Bonds

Securitized Debt

Government of India dated

Securities/ State Government

Securities

0-5%

Tri Party Repos, T-Bills, Cash

Management Bill, Repos

0-5%

1) Securities with rating A and AA shall include A+ and A- & AA+ and AA- respectively.

2) Positive variation in investment towards higher credit rating in the same instrument shall

be allowed.

3) In case of non-availability of and taking into account the risk-reward analysis of CPs,

NCDs (including securitized debt), the Scheme may invest in CDs and CBLO having

equivalent or higher ratings.

4) At the time of building up the portfolio post NFO and towards the maturity of the Scheme,

there may be a higher allocation to cash and cash equivalents.

5) Subsequent to the initial portfolio construction, during the tenure of the Scheme, the

allocation of the scheme may vary due to instances like (i) coupon inflow; (ii) the

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Axis Fixed Term Plan - Series 120 (91 Days)

instrument is called or bought back by the issuer; (iii) in anticipation of any adverse credit

event, etc.

6) All investment shall be made based on the rating prevalent at the time of investment.

Further, in case of an instrument having dual ratings, the most conservative publicly

available rating would be considered.

7) Disclosures with respect to investment in unrated securities, derivatives, etc. if any.

8) In the event of any deviations from the floor and ceiling of credit ratings specified for any

instrument, the same shall be rebalanced within 30 calendar days from the date of the

said deviation.

Portfolio Turnover:

The scheme is a close-ended scheme and intends to buy securities that mature within the

maturity date of the scheme. Portfolio turnover may arise out of reinvestment of maturity /

coupon proceeds as well as through selling and buying securities as part of active

management of the scheme. It is anticipated that the turnover would be lower than an

open-ended scheme. However, the scheme does not have a target for portfolio turnover.

The fund manager will endeavor to optimize portfolio turnover to maximize gains and

minimize risks keeping in mind the cost associated with it. However, it is difficult to estimate

with reasonable measure accuracy, the likely turnover in the portfolio of the Scheme.

For applicable regulatory investment limits please refer paragraph "Investment Restrictions.

The Fund Manager reserves the right to invest in such securities as maybe permitted from time

to time and which are in line with the investment objectives of the scheme.

Derivatives Strategy:

The Scheme may use Derivative instruments like interest rate swaps like overnight indexed

swaps (OIS), forward rate agreements, interest rate futures (as and when permitted) or such

other Derivative instruments as may be permitted under the applicable regulations.

Derivatives will be used for the purpose of hedging, and portfolio balancing or such other

purpose as may be permitted under the regulations and Guidelines from time to time.

The Scheme will be allowed to take exposure in interest rate swaps only on a non-leveraged

basis. A swap will be undertaken only if there is an underlying asset in the portfolio. In terms of

circular no. MFD.BC.191/07.01.279/1999-2000 and MPD.BC.187/07.01.279/1999- 2000 dated

November 1, 1999 and July 7, 1999 respectively issued by RBI permitting participation by

Mutual Funds in interest rate swaps and forward rate agreements, the Scheme will use

Derivative instruments for the purpose of hedging and portfolio balancing. The Scheme may

also use derivatives for such purposes as maybe permitted from time to time. Further, the

guidelines issued by RBI from time to time for forward rate agreements and interest rate

swaps and other derivative products would be adhered to by the Mutual Fund.

IRS and FRAs do also have inherent credit and settlement risks. However, these risks are

substantially reduced as they are limited to the interest streams and not the notional principal

amounts.

Investments in Derivatives will be in accordance with the extant SEBI regulations / guidelines.

Presently Derivatives shall be used for hedging and / or portfolio balancing purposes, as

permitted under the Regulations. The circumstances under which such transactions would be

entered into would be when, for example using the IRS route it is possible to generate better

returns / meet the objective of the Scheme at a lower cost. e.g. if buying a 2 Yr Mibor based

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Axis Fixed Term Plan - Series 120 (91 Days)

instrument and receiving the 2 Yr swap rate yields better return than the 2 Yr AAA corporate,

the Scheme would endeavor to do that. Alternatively, the Scheme would also look to hedge

existing fixed rate positions if the view on interest rates is that it would likely rise in the future.

The following information provides a basic idea as to the nature of the Derivative instruments

proposed to be used by the Scheme and the benefits and risks attached therewith. Please

note that the examples have been given for illustration purposes only.

Using Overnight Indexed Swaps

In a rising interest rate scenario, the Scheme may enhance returns for the Investor by hedging

the risk on its fixed interest paying assets by entering into an OIS contract where the Scheme

agrees to pay a fixed interest rate on a specified notional amount, for a pre-determined

tenor and receives floating interest rate payments on the same notional amount. The fixed

returns from the Scheme assets and the fixed interest payments to be made by the Scheme

on account of the OIS transaction offset each other and the Scheme benefits on the floating

interest payments that it receives. The Scheme may enter into an opposite position in case of

a falling interest rate scenario, i.e. to hedge the floating rate assets in its portfolio the Scheme

enters into an OIS transaction wherein it receives a fixed interest rate on a specified notional

amount for a specified time period and pays a floating interest rate on the same notional

amount. The floating interest payments that the Scheme receives on its floating rate securities

and the floating interest payments that the Scheme has to pay on account of the OIS

transaction offset each other and the Scheme benefits on the fixed interest payments that it

receives in such a scenario.

Swap

Assume that the Scheme has a Rs. 20 crore floating rate investment linked to MIBOR (Mumbai

Inter Bank Offered Rate). Hence, the Scheme is currently running an interest rate risk and

stands to lose if the interest rate moves down. To hedge this interest rate risk, the Scheme can

enter into a 6 month MIBOR swap. Through this swap, the Scheme will receive a fixed

predetermined rate (assume 12%) and pays the “benchmark rate” (MIBOR), which is fixed by

the National Stock Exchange (NSE) or any other agency such as Reuters. This swap would

effectively lock-in the rate of 12% for the next 6 months, eliminating the daily interest rate risk.

This transaction is usually routed through an intermediary who runs a book and matches deals

between various counterparties. The steps will be as follows:

Assuming the swap is for Rs. 20 Crores for June 1, 2017 to December 1, 2020. The Scheme is a

fixed rate receiver at 12% and the counterparty is a floating rate receiver at the overnight

rate on a compounded basis (say NSE MIBOR).

On June 1, 2017 the Scheme and the counterparty will exchange only a contract of having

entered this swap. This documentation would be as per International Swap Dealers

Association (ISDA) norms.

On a daily basis, the benchmark rate fixed by NSE will be tracked by them.

On December 1, 2020 they will calculate the following:

• The Scheme is entitled to receive interest on Rs. 20 Crores at 12% for 184 days i.e. Rs. 1.21

Crores, (this amount is known at the time the swap was concluded) and will pay the

compounded benchmark rate.

• The counterparty is entitled to receive daily compounded call rate for 184 days & pay

12% fixed.

• On December 1, 2020, if the total interest on the daily overnight compounded

benchmark rate is higher than Rs. 1.21 Crores, the Scheme will pay the difference to the

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Axis Fixed Term Plan - Series 120 (91 Days)

counterparty. If the daily compounded benchmark rate is lower, then the counterparty

will pay the Scheme the difference.

• Effectively the Scheme earns interest at the rate of 12% p.a. for six months without lending

money for 6 months fixed, while the counterparty pays interest @ 12% p.a. for 6 months on

Rs. 20 Crores, without borrowing for 6 months fixed.

The above example illustrates the use of Derivatives for hedging and optimizing the

investment portfolio. Swaps have their own drawbacks like credit risk, settlement risk.

However, these risks are substantially reduced as the amount involved is interest streams and

not principal.

Forward Rate Agreement

Assume that on June 30, 2014, the 30-day commercial paper (CP) rate is 4% and the Scheme

has an investment in a CP of face value Rs. 50 Crores, which is going to mature on July 31,

2014. If the interest rates are likely to remain stable or decline after July 31, 2014, and if the

fund manager, who wants to re-deploy the maturity proceeds for 1 more months does not

want to take the risk of interest rates going down, he can then enter into a following Forward

Rate Agreement (FRA) say as on June 30, 2014:

He can receive 1 X 2 FRA on June 30, 2014 at 4.00% (FRA rate for 1 months lending in 1

months’ time) on the notional amount of Rs. 50 Crores, with a reference rate of 30 day CP

benchmark. If the CP benchmark on the settlement date i.e. July 30, 2014 falls to 3.75%, then

the Scheme receives the difference 4.00 – 3.75 i.e. 25 basis points on the notional amount Rs.

50 Crores.

Interest Rate Futures

Assume that the Fund holds an Indian ten-year benchmark and the fund manager has a

view that the yields will go up in the near future leading to decrease in value of the

investment and subsequent decrease in Net Asset Value of the fund. The fund house decides

to use Interest Rate Futures to mitigate the risk of decline of Net Asset Value of the fund.

October 2014

• The benchmark ten-year paper 6.88 2009, is trading at INR 98.00 at a yield of 7.19%.

• December 2014 futures contract on the ten year notional 7% coupon bearing

Government paper is trading at a yield of 7.29% at a price of INR 98.50.

• The mutual fund decides to hedge the exposure by taking a short position in December

2014 interest rate futures contract.

November 2009

• As expected by the fund manager the yield of the benchmark ten-year paper has

increased to 8% and the price has decreased to 92.70.

• The December 2014 futures contract is trading at a price of INR 93.17 indicating a yield of

8.05%

• The mutual fund unwinds the short position by buying the December 2014 futures

contract. The transaction results in profit from the futures position, against the

corresponding loss from the Government of India security position.

Certain risks are inherent to Derivative strategies viz. lack of opportunities, inability of

Derivatives to correlate perfectly with the underlying and execution risks, whereby the rate

seen on the screen may not be the rate at which the transaction is executed. For details of

risk factors relating to use of Derivatives, the investors are advised to refer to Scheme Specific

Risk Factors.

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Axis Fixed Term Plan - Series 120 (91 Days)

Debt and Money Markets in India

The Indian debt market is today one of the largest in Asia and includes securities issued by

the Government (Central & State Governments), public sector undertakings, other

government bodies, financial institutions, banks and corporates. Government and public

sector enterprises are the predominant borrowers in the markets. The major players in the

Indian debt markets today are banks, financial institutions, mutual funds, insurance

companies, primary dealers, trusts, pension funds and corporates. The Indian debt market is

the largest segment of the Indian financial markets. The debt market comprises broadly two

segments, viz. Government Securities market or G-Sec market and corporate debt market.

The latter is further classified as market for PSU bonds and private sector bonds.

The Government Securities (G-Secs) market, consists of G-Sec outstanding of Rs.

78,05,098.221cr as on Oct 18, 2021 (State Govt securities - Rs 38,31,895.100 cr, (as on Feb’21)

Source: CCIL), is the oldest and the largest component (50% share in market cap) of the

Indian debt market in terms of market capitalization, outstanding securities and trading

volumes. The G-Secs market plays a vital role in the Indian economy as it provides the

benchmark for determining the level of interest rates in the country through the yields on the

Government Securities which are referred to as the risk-free rate of return in any economy.

Over the years, there have been new products introduced by the RBI like zero coupon

bonds, floating rate bonds, inflation indexed bonds, etc.

The corporate bond market, in the sense of private corporate sector raising debt through

public issuance in capital market, is only an insignificant part of the Indian Debt Market. A

large part of the issuance in the non-Government debt market is currently on private

placement basis.

The money markets in India essentially consist of the call money market (i.e. market for

overnight and term money between banks and institutions), repo transactions (temporary

sale with an agreement to buy back the securities at a future date at a specified price),

commercial papers (CPs, short term unsecured promissory notes, generally issued by

corporates), certificate of deposits (CDs, issued by banks) and Treasury Bills (issued by RBI). In

a predominantly institutional market, the key money market players are banks, financial

institutions, insurance companies, mutual funds, primary dealers and corporates. In money

market, activity levels of the Government and nongovernment debt vary from time to time.

Instruments that comprise a major portion of money market activity include but not limited to:

• Overnight Call

• Tri Party Repo

• Repo/Reverse Repo Agreement

• Treasury Bills

• Government securities with a residual maturity of < 1 year.

• Commercial Paper

• Certificate of Deposit

Apart from these, there are some other options available for short tenure investments that

include MIBOR linked debentures with periodic exit options and other such instruments.

Though not strictly classified as Money Market Instruments, PSU / DFI / Corporate paper with a

residual maturity of < 1 year, are actively traded and offer a viable investment option.

The market has evolved in past 2-3 years in terms of risk premia attached to different class of

issuers. Bank CDs have clearly emerged as popular asset class with increased acceptability in

secondary market. PSU banks trade the tightest on the back of comfort from majority

government holding. Highly rated manufacturing companies also command premium on

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Axis Fixed Term Plan - Series 120 (91 Days)

account of limited supply. However, there has been increased activity in papers issued by

private/foreign banks/NBFCs/companies in high-growth sector due to higher yields offered

by them. Even though companies across these sectors might have been rated on a same

scale, the difference in the yield on the papers for similar maturities reflects the perception of

their respective credit profiles.

The following table gives approximate yields prevailing on December 31, 2023 on some of the

instruments and further illustrates this point.

Instrument

Current Yield range (%)

Tri-party Repo

6.75/80

Repo

6.75/80

3M T-bill

6.90/95

1Y T-bill

7.05/10

10Y G-sec

7.15/20

3m PSU Bank CD

7.40/45

3m Manufacturing co. CP

7.50/55

1Y PSU Bank CD

7.85/90

1Y NBFC CP

8.20/25

1Y Manufacturing co. CP

7.95/8.00

5Y AAA Institutional Bond

7.60/65

10Y AAA Institutional Bond

7.60/65

Source: Bloomberg

These yields are indicative and do not indicate yields that may be obtained in future as

interest rates keep changing consequent to changes in macro-economic conditions and RBI

policy. The price and yield on various debt instruments fluctuate from time to time depending

upon the macro economic situation, inflation rate, overall liquidity position, foreign exchange

scenario etc. Also, the price and yield vary according to maturity profile, credit risk etc.

Risk Control:

Risk management is going to be an integral part of the investment process. Effective risk

management is critical to fund management for achieving financial soundness. The

investment team of the AMC will carry out rigorous in depth credit evaluation of the money

market and debt instruments (other than G-Secs) proposed to be invested in. The credit

evaluation will essentially be a bottom up approach and include a study of the operating

environment of the issuer, the past track record as well as the future prospects of the issuer

and the short term / long term financial health of the issuer. The AMC would incorporate

adequate safeguards for controlling risks in the portfolio construction process, which would

be periodically evaluated. The scheme may also use derivatives and other hedging

instruments, as may be permitted by RBI, from time to time, in order to protect the value of

the portfolio. Investments by the Scheme shall be made as per the investment objectives of

the Scheme and provisions of SEBI regulations. AMC has implemented the Bloomberg

Portfolio Order Management System as Front Office System (FOS). The system has

incorporated all the investment restrictions as per SEBI guidelines and “soft” warning alerts at

appropriate levels for preemptive monitoring. The system enables identifying & measuring the

risk through various risk measurement tools like various risk ratios, average duration and

analyzes the same so as to act in a preventive manner.

INVESTMENT BY THE AMC IN THE SCHEME

Subject to the Regulations, the AMC may invest either directly or indirectly, in the Scheme

during the NFO. However, the AMC shall not charge any investment management fee on

such investment in the Scheme.

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Axis Fixed Term Plan - Series 120 (91 Days)

F: FUNDAMENTAL ATTRIBUTES

Following are the Fundamental Attributes of the scheme, in terms of Regulation 18 (15A) of

the SEBI (MF) Regulations:

(i) Type of a scheme

A Close ended debt scheme, A Moderate Interest Rate Risk and Moderate Credit Risk

(ii) Investment Objective

Main Objective: The Scheme will endeavor to generate returns through a portfolio of

debt & money market instruments that are maturing on or before the maturity of the

scheme. However, there is no assurance that the investment objective of the Scheme

will be achieved. The Scheme does not assure or guarantee any returns.

Investment Pattern: Please refer to sub - section C ‘How will the Scheme Allocate its

Assets?’ under the section II ‘INFORMATION ABOUT THE SCHEME’.

(iii) Terms of Issue

o Liquidity provisions such as listing, Repurchase, Redemption (please refer to relevant

provisions on listing, repurchase, redemption in section III ‘Units and Offer’)

o Aggregate fees and expenses charged to the Scheme (please refer to section IV ‘FEES

and EXPENSES’).

o Any safety or guarantee net provided (Not applicable for the Scheme):

In accordance with Regulation 18(15A) of the SEBI (MF) Regulations and Paragraph 1.14 of

Master circular for Mutual Fund and as amended from time to time, the Trustees shall ensure

that no change in the fundamental attributes of the Scheme(s) and the Plan(s) / Option(s)

thereunder or the trust or fee and expenses payable or any other change which would

modify the Scheme(s) and the Plan(s) / Option(s) thereunder and affect the interests of

Unitholders is carried out unless:

• SEBI has reviewed and provided its comment on the proposal.

• a written communication about the proposed change is sent to each unitholder and

an advertisement is given in one English daily newspaper having nationwide

circulation as well as in a newspaper published in the language of the region where

the Head Office of the mutual fund is situated; and

• the unitholders are given an option to exit at the prevailing Net Asset Value without

any exit load for a period of atleast 30 days.

In addition to the conditions specified above, for effecting any change in the

fundamental attributes of the scheme, trustees shall take comments of the SEBI and any

change suggested by SEBI would be incorporated before carrying such proposed

change(s).

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Axis Fixed Term Plan - Series 120 (91 Days)

G. HOW WILL THE SCHEME(S) BENCHMARK ITS PERFORMANCE?

CRISIL Liquid Debt Index

Justification for use of benchmark

• CRISIL Liquid Debt Index,

The Scheme with maturity of up to 3 months intend to invest in a portfolio of instruments

which is best captured by CRISIL Liquid Index.

This is a realistic estimate to track the returns of a close ended fund with maturity of up to 3

months. Hence, the performance of the scheme(s) will be benchmarked with CRISIL Liquid

Fund Index.

The Trustee/AMC reserves the right to change the benchmark for the evaluation of the

performance of the scheme(s) from time to time, keeping in mind the investment objective of

the Scheme and the appropriateness of the benchmark, subject to SEBI guidelines and other

prevalent guidelines.

H. WHO MANAGES THE SCHEME(S)?

Name of

Fund

Manager

Age and

Qualification

Experience of the Fund

Manager in the last 10

years

Names of other schemes

under his management

Tenure of

Managing the

Scheme as

Fund

Manager

Mr. Sachin

Jain

36 Years

PGDM,

B.Tech

Total number of years

of experience: 10

years, his last 10 years’

experience are as

follows:

· Dealer - Fixed

Income, Axis Asset

Management

Company Ltd. (July 11,

2017 - till date)

· Trader – Fixed

Income, Sundaram

Asset Management

Company Ltd. (June 3,

2013 – July 10, 2017)

· Dealer – Fixed

Income, ICAP Ltd.

(November 9, 2010 –

May 31, 2013)

· Dealer – Fixed

Income, Sundhi

Securities and Finance

Ltd. (November 2,

2009 – October 29,

2010)

Axis Fixed Term Plan -

Series 112 (1143 Days)

(along with Hardik Shah),

Axis Fixed Term Plan -

Series 113 (1228

Days)(along with Sachin

Jain), Axis Overnight Fund,

Axis Ultra Short Term Fund,

Axis Nifty AAA Bond Plus

SDL Apr 2026 50:50 ETF,

Axis Nifty SDL September

2026 Debt Index Fund, Axis

CRISIL IBX50:50 Gilt Plus SDL

Sep 2027 Index Fund

(along with Sachin Jain),

Axis Multicap Fund (along

with Mr. Shreyash

Devalkar), Axis CRISIL IBX

70:30 CPSE Plus SDL Apr

2025 Index Fund and Axis

Gilt Fund (along with

Devang Shah), Axis

Arbitrage Fund and Axis

Regular Saver Fund (along

with Ashish Naik and

Devang Shah), Axis Liquid

Since

Inception

- 35 -

Axis Fixed Term Plan - Series 120 (91 Days)

Fund and Axis Money

Market Fund (along with

Devang Shah and Aditya

Pagaria) and Axis

Strategic Bond Fund

(along with Devang Shah

and Akhil Thakkar)

I. WHAT ARE THE INVESTMENT RESTRICTIONS?

Pursuant to Regulations, specifically the Seventh Schedule and amendments thereto, the

following investment restrictions are currently applicable to the Scheme:

1. The Scheme shall not invest more than 10% of its NAV in debt instruments, issued by single

issuer comprising money market instruments and non-money market instruments issued by

a single issuer rated investment grade or above by a Credit Rating Agency (CRA). Such

investment limit may be extended to 12% of the NAV of the Scheme with the prior

approval of the Trustee and the Board of Directors of AMC.

Such limit shall not be applicable for investment in Government Securities, treasury bills

and triparty repo on Government securities or treasury bills.

Provided further that Investments within such limit can be made in the mortgaged

backed securitized debt, which are rated not below investment grade by a credit rating

agency, registered with SEBI.

2. In accordance with the Paragraph 12.8 of Master Circular for Mutual Fund as

amended from time to time, the scheme shall not invest more than:

a. 10% of its NAV in debt and money market securities rated AAA; or

b. 8% of its NAV in debt and money market securities rated AA; or

c. 6% of its NAV in debt and money market securities rated A and below

issued by a single issuer.

The above investment limits may be extended by up to 2% of the NAV of the scheme

with prior approval of the Board of Trustees and Board of Directors of the AMC, subject to

compliance with the overall 12% limit specified in clause 1 of Seventh Schedule of MF

Regulation.

The long term rating of issuers shall be considered for the money market instruments.

However, if there is no long term rating available for the same issuer, then based on credit

rating mapping of CRAs between short term and long term ratings, the most conservative

long term rating shall be taken for a given short term rating. Exposure to government

money market instruments such as TREPS on G-Sec/ T-bills shall be treated as exposure to

government securities.

3. The Scheme shall not invest in unlisted debt instruments including commercial papers,

except Government Securities, and other money market instruments and derivative

products such as Interest Rate Swaps, Interest Rate Futures, etc. which are used by

mutual fund for hedging:

- 36 -

Axis Fixed Term Plan - Series 120 (91 Days)

Provided that the Scheme may invest in unlisted non-convertible debentures up to a

maximum of 10% of the debt portfolio of the Scheme subject to such conditions as may

be specified by the Board from time to time:

Provided further that the Scheme shall comply with the norms under this clause within the

time and in the manner as may be specified by the Board:

Provided further that the norms for investments by the Scheme in unrated debt

instruments shall be as specified by the Board from time to time.

Further the investments by the Scheme shall be in compliance with Paragraph 12.1 of

Master Circular for Mutual Fundand as amended by SEBI from time to time.

4. The investment by the Scheme in the following instruments shall not exceed 10% of the

debt portfolio of the scheme and the group exposure in such instruments shall not

exceed 5% of the debt portfolio of the scheme:

a. Unsupported rating of debt instruments (i.e. without factoring-in credit

enhancements) is below investment grade and

b. Supported rating of debt instruments (i.e. after factoring-in credit enhancement) is

above investment grade.

These limits shall not be applicable on investments in securitized debt instruments, as

defined in SEBI (Public Offer and Listing of Securitized Debt Instruments) Regulations 2008.

5. Investment in debt instruments, having credit enhancements backed by equity shares

directly or indirectly, shall have a minimum cover of 4 times considering the market value

of such shares.

6. The Scheme may invest in other schemes of the Mutual Fund or any other mutual fund

without charging any fees, provided the aggregate inter-scheme investment made by all

the schemes under the same management or in schemes under the management of any

other asset management company shall not exceed 5% of the Net Asset Value of the

Mutual Fund.

7. The Scheme shall not make any investment in:

a. any unlisted security of an associate or group company of the sponsor; or

b. any security issued by way of private placement by an associate or group company

of the sponsor; or

c. the listed securities of group companies of the sponsor which is in excess of 25% of the

net assets.

8. The Mutual Fund shall get the securities purchased transferred in the name of the Fund on

account of the concerned Scheme, wherever investments are intended to be of a long-

term nature.

9. Transfer of investments from one scheme to another scheme in the same Mutual Fund is

permitted provided:

a) such transfers are done at the prevailing market price for quoted instruments on spot

basis (spot basis shall have the same meaning as specified by a Stock Exchange for

spot transactions); and

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Axis Fixed Term Plan - Series 120 (91 Days)

b) the securities so transferred shall be in conformity with the investment objective of the

Scheme to which such transfer has been made.

Further, inter scheme transfers shall be in accordance with the guidelines issued by

Paragraph 12.30 of Master Circular for Mutual Fund as amended from time to time.

10. The Mutual Fund shall buy and sell securities on the basis of deliveries and shall in all cases

of purchases, take delivery of relevant securities and in all cases of sale, deliver the

securities:

The scheme shall not engage in in short selling of securities or carry forward transactions.

Provided further that the Mutual Fund may enter into derivatives transactions in a

recognized stock exchange, subject to the framework specified by SEBI.

11. The Scheme shall not make any investment in any fund of funds scheme.

12. Pending deployment of the funds of the Scheme in securities in terms of the investment

objective of the Scheme, the AMC may park the funds of the Scheme in short term

deposits of scheduled commercial banks, subject to the guidelines issued by SEBI.

The Scheme will comply with the following guidelines/restrictions for parking of funds in

short term deposits:

i. “Short Term” for such parking of funds by the Scheme shall be treated as a period not

exceeding 91 days. Such short-term deposits shall be held in the name of the Scheme.

ii. The Scheme shall not park more than 15% of the net assets in short term deposit(s) of

all the scheduled commercial banks put together. However, such limit may be raised

to 20% with prior approval of the Trustee.

iii. Parking of funds in short term deposits of associate and sponsor scheduled

commercial banks together shall not exceed 20% of total deployment by the Mutual

Fund in short term deposits.

iv. The Scheme shall not park more than 10% of the net assets in short term deposit(s),

with any one scheduled commercial bank including its subsidiaries.

v. The Scheme shall not park funds in short term deposit (STD) of a bank which has

invested in that Scheme. Further Trustees/ AMCs shall also ensure that the bank in

which the Scheme has STD do not invest in the said scheme until the Scheme has STD

with such bank.

vi. The AMC will not charge any investment management and advisory fees for funds

parked in short term deposits of scheduled commercial banks.

However, the above provisions will not apply to term deposits placed as margins for

trading in cash and derivatives market.

13. The Scheme shall not advance any loans.

14. The Scheme shall not borrow except to meet temporary liquidity needs of the Scheme for

the purpose of repurchase/redemption of Unit or payment of interest and/or IDCW to the

Unit holders.

Provided that the Fund shall not borrow more than 20% of the net assets of the Scheme(s)

and the duration of the borrowing shall not exceed a period of 6 months.

- 38 -

Axis Fixed Term Plan - Series 120 (91 Days)

15. The Scheme shall invest only in such securities which mature on or before the date of the

maturity of the Scheme in accordance to Paragraph 12.7 of Master Circular for Mutual

Fund

16. The total exposure in a particular sector (excluding investments in Bank CDs, Tri-party

repo, Government Securities, T-Bills, short term deposits of scheduled commercial banks

and AAA rated securities issued by Public Financial Institutions and Public Sector Banks)

shall not exceed 20% of the net assets of the Scheme.

Provided that an additional exposure to financial services sector (over and above the

limit of 20%) not exceeding 10% of the net assets of the Scheme shall be allowed by way

of increase in exposure to Housing Finance Companies (HFCs);

Provided further that the additional exposure to such securities issued by HFCs are rated

AA and above and these HFCs are registered with National Housing Bank (NBH) and the

total Investment/exposure in HFCs shall not exceed 20% of the net assets of the Scheme.

Further, an additional exposure of 5% of the net assets of the scheme has been allowed

for investments in securitized debt instruments based on retail housing loan portfolio

and/or affordable housing loan portfolio.

17. The total exposure in a group (excluding investments in securities issued by Public Sector

Units, Public Financial Institutions and Public Sector Banks) shall not exceed 20% of the net

assets of the Scheme. Such investment limit may be extended to 25% of the net assets of

the Scheme with the prior approval of the Trustees.

For this purpose, a group means a group as defined under regulation 2 (mm) of SEBI

(Mutual Funds) Regulations, 1996 and shall include an entity, its subsidiaries, fellow

subsidiaries, its holding company and its associates.

Further, limit for investment in debt and money market instruments of group companies of

both the sponsor and AMC shall not exceed 10% of the net assets of the Scheme. Such

investment limit can be extended to 15% with the prior approval of the Board of Trustees.

18. SEBI vide its circular no. Cir/ IMD/ DF/ 11/ 2010 dated August 18, 2010 has prescribed the

following investment restrictions w.r.t. investment in derivatives:

No.

Particulars

The cumulative gross exposure through debt (including money market instruments)

and derivative positions shall not exceed 100% of the net assets of the Scheme.

Cash or cash equivalents with residual maturity of less than 91 days shall be treated

as not creating any exposure.

The Scheme shall not write options or purchase instruments with embedded written

options.

III

The total exposure related to option premium paid shall not exceed 20% of the net

assets of the Scheme.

Exposure due to hedging positions may not be included in the above mentioned

limits subject to the following:

a. Hedging positions are the derivative positions that reduce possible losses on an

existing position in securities and till the existing position remains.

b. Hedging positions cannot be taken for existing derivative positions. Exposure

due to such positions shall have to be added and treated under limits

- 39 -

Axis Fixed Term Plan - Series 120 (91 Days)

mentioned in Point 1.

c. Any derivative instrument used to hedge has the same underlying security as

the existing position being hedged.

d. The quantity of underlying associated with the derivative position taken for

hedging purposes does not exceed the quantity of the existing position against

which hedge has been taken.

Exposure due to derivative positions taken for hedging purposes in excess of the

underlying position against which the hedging position has been taken, shall be

treated under the limits mentioned in point 1.

Each position taken in derivatives shall have an associated exposure as defined

under. Exposure is the maximum possible loss that may occur on a position.

However, certain derivative positions may theoretically have unlimited possible

loss. Exposure in derivative positions shall be computed as follows:

Position

Exposure

Long Future

Futures Price * Lot Size * Number of Contracts

Short Future

Futures Price * Lot Size * Number of Contracts

Option bought

Option Premium Paid * Lot Size * Number of Contracts.

VII

(a) Mutual Funds may enter into plain vanilla Interest Rate Swaps (IRS) for hedging

purposes. The value of the notional principal in such cases must not exceed the

value of respective existing assets being hedged by the scheme.

(b) In case of participation in IRS is through over the counter transactions, the

counter party has to be an entity recognized as a market maker by RBI and

exposure to a single counterparty in such transactions should not exceed 10% of

the net assets of the scheme. However, if mutual funds are transacting in IRS

through an electronic trading platform offered by the Clearing Corporation of

India Ltd. (CCIL) and CCIL is the central counterparty for such transactions

guaranteeing settlement, the single counterparty limit of 10% shall not be

applicable.

19. The Scheme shall participate in repos in corporate debt securities as per the guidelines

issued by SEBI and/or RBI from time to time, and the guidelines framed by the Board of

Directors of Trustee Company and the Asset Management Company, from time to time:

At present the following conditions and norms shall apply to repo in corporate debt

securities:

(i) The gross exposure of the Scheme to repo transactions in corporate debt securities

shall not be more than 10 % of the net assets of the Scheme.

(ii) The cumulative gross exposure through repo transactions in corporate debt securities

along with debt and derivatives shall not exceed 100% of the net assets of the

Scheme.

(iii) The Scheme shall participate in repo transactions only in AA and above rated

corporate debt securities.

(iv) The Scheme shall borrow through repo transactions only if the tenor of the transaction

does not exceed a period of six months.

(v) The Trustees and the Asset Management Companies have framed the guidelines

interalia considering the following aspects: -

i. Category of counterparty

ii. Credit rating of counterparty

iii. Tenor of collateral

iv. Applicable haircuts

(vi) Counterparty selection & credit rating

The counterparty must be an acceptable counterparty for debt transactions. The

Mutual Fund follows a counterparty empanelment process for fixed income

transactions and the same shall be used for selection of counterparties for corporate

- 40 -

Axis Fixed Term Plan - Series 120 (91 Days)

bond repos. All repo transactions in corporate bonds will be governed by a repo

agreement as specified by FIMMDA and / or other specified authorities.

(vii) Collateral tenor & quality

The exposure limit/investment restrictions prescribed under the Seventh Schedule of

the Regulations and circulars issued there under (wherever applicable) shall be

applicable to repo transactions in corporate bonds. The Scheme shall further follow

guidelines framed by Trustee and the AMC from time to time.

(viii) Applicable haircuts

Currently mutual funds are permitted to carry out repo transactions in government

securities without any haircuts. The Reserve Bank of India has notified a minimum

haircut based on rating of the corporate bond and other securities. In addition, the

Fixed Income and Money Market Dealers Association (FIMMDA) would maintain a

rating-haircut matrix on an ongoing basis. The Scheme shall further follow guidelines

framed by Trustee and the AMC from time to time.

The haircuts seek to protect the lender of funds from the event of the counterparty

failing to honor the repurchase leg of the repo. In such a circumstance, the Fund

would suffer a loss if the value of the collateral depreciates by more than the haircut.

The fall in the value of the collateral could be on account of higher yields and/ or

deterioration of credit quality.

As the typical tenor of repos is short (typically overnight), the haircuts represent a

relatively high degree of safety in relation to the interest rate risk on the collateral. The

risk of collateral depreciation based on historical volatility is given in the table below:

Bond Tenor (yrs)

Price Volatility (%)

(annualized)

0.6

1.2

1.7

3.4

Repo Tenor

Number of standard deviations needed to lose 10%

1 day

258

136

7 days

In the above table, the price volatility of a 10-year bond is about 3.4% annualized.

That is a 10% price move represents nearly a 3-sigma event on an annualized basis.

For overnight tenors, this represents a 48-sigma event (for comparison a 6-sigma event

occurs about once in a million observations).

It is apparent that the haircuts stipulated by RBI are more than sufficient to mitigate

interest rate risk. Credit event risk remains (the collateral could default during the

tenor of the repo). This risk is to be mitigated by ensuring that the collateral is

acceptable from a credit point of view.

20. The Mutual Fund/AMC shall make investment out of the NFO proceeds only on or

after the closure of the NFO period. The Mutual Fund/ AMC can however deploy the

NFO proceeds in TREPS before the closure of NFO period. However, AMCs shall not

charge any investment management and advisory fees on funds deployed in TREPS

during the NFO period. The appreciation received from investment in TREPS shall be

passed on to investors.

Further, in case the minimum subscription amount is not garnered by the scheme

during the NFO period, the interest earned upon investment of NFO proceeds in TREPS

- 41 -

Axis Fixed Term Plan - Series 120 (91 Days)

shall be returned to investors, in proportion of their investments, along-with the refund

of the subscription amount.

The exposure limit/ investment restrictions prescribed under the Seventh Schedule of the

Regulations and circulars issued there under (wherever applicable) shall be applicable to

repo transactions in corporate bonds.

The Scheme will comply with the other Regulations applicable to the investments of Mutual

Funds from time to time.

All the investment restrictions will be applicable at the time of making investments.

The AMC/ Trustee may alter these above stated restrictions from time to time to the extent

the Regulations change, so as to permit the Scheme to make its investments in the full

spectrum of permitted investments for mutual funds to achieve its respective investment

objective. Further, apart from the investment restrictions prescribed under SEBI (MF)

Regulations, the Fund may follow any internal norms vis-à-vis restricting / limiting exposure to a

particular scrip or sector, etc.

J. CREATION OF SEGREGATED PORTFOLIO

Creation of segregated portfolio shall be subject to guidelines specified by SEBI from time to

time and includes the following:

In this regard, the term ‘segregated portfolio’ shall mean a portfolio comprising of debt or

money market instrument affected by a credit event, that has been segregated in a mutual

fund scheme. The term ‘main portfolio’ shall mean the scheme portfolio excluding the

segregated portfolio. The term ‘total portfolio’ shall mean the scheme portfolio including the

securities affected by the credit event.

Credit Event

A) For rated debt or money market instruments

1) Segregated portfolio may be created, in case of a credit event at issuer level i.e.

downgrade in credit rating by a SEBI registered Credit Rating Agency (CRA), as under:

a. Downgrade of a debt or money market instrument to ‘below investment grade’, or

b. Subsequent downgrades of the said instruments from ‘below investment grade’, or

c. Similar such downgrades of a loan rating

2) In case of difference in rating by multiple CRAs, the most conservative rating shall be

considered. Creation of segregated portfolio shall be based on issuer level credit events

as mentioned above and implemented at the ISIN level.

3) Creation of segregated portfolio is optional and is at the discretion of Axis Asset

Management Company Ltd. (‘Axis AMC’/‘the AMC’)

B) For unrated debt or money market instruments

Segregated portfolio of unrated debt or money market instruments may be created only in

case of actual default of either the interest or principal amount by the issuer. Credit event in

this case shall be ‘actual default’ by the issuer of such instruments and shall be considered for

creation of segregated portfolio.

Process for Creation of Segregated Portfolio

1) On the date of credit event, the AMC shall decide on creation of segregated portfolio.

Once AMC decides to segregate portfolio, it shall:

- 42 -

Axis Fixed Term Plan - Series 120 (91 Days)

a. seek approval of trustees prior to creation of the segregated portfolio.

b. immediately issue a press release disclosing its intention to segregate such debt and

money market instrument and its impact on the investors. Axis Mutual Fund shall

disclose that the segregation shall be subject to Trustee approval. Additionally, the

said press release shall be prominently disclosed on the website of the AMC.

c. ensure that till the time the Trustee approval is received, which in no case shall

exceed 1 business day from the day of credit event, the subscription and redemption

in the Scheme shall be suspended for processing with respect to creation of units and

payment on redemptions.

2) Once Trustee approval is received by the AMC:

a. Segregated portfolio shall be effective from the day of credit event

b. AMC shall issue a press release immediately with all relevant information pertaining to

the segregated portfolio. The said information will also be submitted to SEBI.

c. An e-mail or SMS shall be sent to all unit holders of the Scheme.

d. The NAV of both segregated and main portfolios shall be disclosed from the day of

the credit event.

e. All existing investors in the Scheme as on the day of the credit event shall be allotted

equal number of units in the segregated portfolio as held in the main portfolio.

f. No redemption and subscription shall be allowed in the segregated portfolio. AMC

shall enable listing of units of segregated portfolio on the recognized stock exchange

within 10 working days of creation of segregated portfolio and also enable transfer of

such units on receipt of transfer requests

3) If the trustees do not approve the proposal to segregate portfolio, AMC will issue a press

release immediately informing investors of the same.

Valuation

Notwithstanding the decision to segregate the debt and money market instrument, the

valuation shall take into account the credit event and the portfolio shall be valued based on

the principles of fair valuation (i.e. realizable value of the assets) in terms of the relevant

provisions of SEBI (Mutual Funds) Regulations, 1996 and circular(s) issued thereunder.

Processing of Subscription and Redemption Proceeds

All subscription and redemption requests for which NAV of the day of credit event or

subsequent day is applicable will be processed as under:

i. Upon trustees’ approval to create a segregated portfolio -

▪ Investors redeeming their units will get redemption proceeds based on the NAV of

main portfolio and will continue to hold the units of segregated portfolio.

▪ Investors subscribing to the Scheme will be allotted units only in the main portfolio

based on its NAV.

ii. In case trustees do not approve the proposal of segregated portfolio, subscription and

redemption applications will be processed based on the NAV of total portfolio.

Disclosure

In order to enable the existing as well as the prospective investors to take informed decision,

the following shall be adhered to:

a. A statement of holding indicating the units held by the investors in the segregated

portfolio along with the NAV of both segregated portfolio and main portfolio as on the

day of the credit event shall be communicated to the investors within 5 working days of

creation of the segregated portfolio.

- 43 -

Axis Fixed Term Plan - Series 120 (91 Days)

b. Adequate disclosure of the segregated portfolio shall be made in all scheme related

documents, in monthly and half-yearly portfolio disclosures and in the annual report of

the mutual fund and the Scheme.

c. The Net Asset Value (NAV) of the segregated portfolio shall be declared on daily basis.

d. The information regarding number of segregated portfolios created in the Scheme shall

appear prominently under the name of the Scheme at all relevant places such as SID,

KIM-cum-Application Form, advertisement, AMC and AMFI websites, etc.

e. The Scheme performance required to be disclosed at various places shall include the

impact of creation of segregated portfolio. The Scheme performance should clearly

reflect the fall in NAV to the extent of the portfolio segregated due to the credit event

and the said fall in NAV along with recovery(ies), if any, shall be disclosed as a footnote

to the Scheme performance.

f. The disclosures at paragraph (d) and (e) above regarding the segregated portfolio shall

be carried out for a period of at least 3 years after the investments in segregated portfolio

are fully recovered/ written-off.

g. The investors of the segregated portfolio shall be duly informed of the recovery

proceedings of the investments of the segregated portfolio. Status update may be

provided to the investors at the time of recovery and also at the time of writing-off of the

segregated securities.

TER for the Segregated Portfolio

1) Axis AMC shall not charge investment and advisory fees on the segregated portfolio.

However, TER (excluding the investment and advisory fees) can be charged, on a pro-

rata basis only upon recovery of the investments in segregated portfolio.

2) The TER so levied shall not exceed the simple average of such expenses (excluding the

investment and advisory fees) charged on daily basis on the main portfolio (in % terms)

during the period for which the segregated portfolio was in existence.

3) The legal charges related to recovery of the investments of the segregated portfolio may

be charged to the segregated portfolio in proportion to the amount of recovery.

However, the same shall be within the maximum TER limit as applicable to the main

portfolio. The legal charges in excess of the TER limits, if any, shall be borne by the AMC.

4) The costs related to segregated portfolio shall in no case be charged to the main

portfolio.

Monitoring by Trustees

In order to ensure timely recovery of investments of the segregated portfolio, Trustees shall

ensure that:

a. The AMC puts in sincere efforts to recover the investments of the segregated portfolio.

b. Upon recovery of money, whether partial or full, it shall be immediately distributed to the

investors in proportion to their holding in the segregated portfolio. Any recovery of

amount of the security in the segregated portfolio even after the write off shall be

distributed to the investors of the segregated portfolio.

c. The Trustees shall monitor the compliance of this circular and disclose in the half-yearly

trustee reports filed with SEBI, the compliance in respect of every segregated portfolio

created.

In order to avoid mis-use of segregated portfolio, Trustees shall ensure to have a mechanism

in place to negatively impact the performance incentives of Fund Managers, Chief

Investment Officers (CIOs), etc. involved in the investment process of securities under the

segregated portfolio, mirroring the existing mechanism for performance incentives of the

AMC, including claw back of such amount to the segregated portfolio of the Scheme.

Risks associated with segregated portfolio

- 44 -

Axis Fixed Term Plan - Series 120 (91 Days)

4. Investor holding units of segregated portfolio may not able to liquidate their holding till

the time recovery of money from the issuer.

5. Security comprises of segregated portfolio may not realise any value.

6. Listing of units of segregated portfolio on recognised stock exchange does not

necessarily guarantee their liquidity. There may not be active trading of units in the stock

market. Further trading price of units on the stock market may be significantly lower than

the prevailing NAV.

Illustration of segregated portfolio

The below table shows how a rated security affected by a credit event will be segregated

and its impact on investors:

Portfolio Date

July 22, 2019

Downgrade

Event Date

July 22, 2019

Mr. X is holding 1,000 units of the scheme for an amount of Rs. 11,31,993.87 (1,000 *

1,131.9939)

Portfolio before downgrade event

Security

Rating

Type of the

security

Quantity

Market

Price Per

Unit (Rs.)

Market Value

(Rs.)

% of

Net

Assets

9.60% A Ltd.

CRISIL AAA

NCD

5,000

103.2232

5,16,116.00

45.59%

8.80% B Ltd.

CRISIL AA+

NCD

2,000

99.4678

1,98,935.60

17.57%

9.80% C Ltd.

ICRA A1+

1,200

98.3421

1,18,010.52

10.43%

7.70% D Ltd.

CRISIL AA+

NCD

2,000

99.0000

1,98,000.00

17.49%

8.80% E Ltd.

CRISIL AA

NCD

500

101.2211

50,610.55

4.47%

Cash & cash

equivalents

50,321.20

4.45%

Net Assets

11,31,993.87

100.00%

Unit capital (no

of units)

1000.000

NAV (In Rs.)

1131.9939

Security

downgraded

7.70% D Ltd.

from AA+ to D

Valuation

Marked down by

75.00%

Valuation agencies shall be providing the valuation price post

consideration of standard haircut matrix.

Total Portfolio as on July 22, 2019

Security

Rating

Type of the

security

Quantity

Market

Price Per

Unit (Rs.)

Market Value

(Rs.)

% of

Net

Assets

9.60% A Ltd.

CRISIL AAA

NCD

5,000

103.2232

5,16,116.00

52.45%

8.80% B Ltd.

CRISIL AA+

NCD

2,000

99.4678

1,98,935.60

20.22%

9.80% C Ltd.

ICRA A1+

1,200

98.3421

1,18,010.52

11.99%

7.70% D Ltd.

CRISIL D

NCD

2,000

25.0000

50,000.00

5.08%

8.80% E Ltd.

CRISIL AA

NCD

500

101.2211

50,610.55

5.14%

Cash & cash

equivalents

50,321.20

5.11%

Net Assets

9,83,993.87

100.00%

Unit capital (no

of units)

1000.000

- 45 -

Axis Fixed Term Plan - Series 120 (91 Days)

NAV (In Rs.)

983.9939

Main Portfolio as on July 22, 2019

Security

Rating

Type of the

security

Quantity

Market

Price Per

Unit (Rs.)

Market Value

(Rs.)

% of

Net

Assets

9.60% A Ltd.

CRISIL AAA

NCD

5,000

103.2232

5,16,116.00

55.26%

8.80% B Ltd.

CRISIL AA+

NCD

2,000

99.4678

1,98,935.60

21.30%

9.80% C Ltd.

ICRA A1+

1,200

98.3421

1,18,010.52

12.64%

8.80% E Ltd.

CRISIL AA

NCD

500

101.2211

50,610.55

5.42%

Cash & cash

equivalents

50,321.20

5.39%

Net Assets

9,33,993.87

100.00%

Unit capital (no

of units)

1000.000

NAV (In Rs.)

933.9939

Segregated Portfolio as on July 22, 2019

Security

Rating

Type of the

security

Quantity

Market

Price Per

Unit (Rs.)

Market Value

(Rs.)

% of

Net

Assets

7.70% D Ltd.

CRISIL D

NCD

2,000

25.0000

50,000.00

100.00%

Net Assets

50,000.00

100.00%

Unit capital (no

of units)

1000.000

NAV (In Rs.)

50.0000

0.0000

Net impact on value of holding of Mr. X after creation of segregation

portfolio

Main Portfolio

Segregated

Portfolio

Total

Value

No. of Units

1,000

NAV (in Rs.)

933.9939

50.0000

Total Value (in

Rs.)

9,33,993.87

50,000.00

9,83,993.87

K. HOW HAS THE SCHEME PERFORMED?

This Scheme is a new Scheme and does not have any performance track record

L. ADDITIONAL SCHEME RELATED DISCLOSURES

a. Scheme’s portfolio holdings

Not applicable as the scheme is a new fund to be launched

Fund allocation towards various Sectors

Not applicable as the scheme is a new fund to be launched

Website link for Monthly Portfolio Holding

Please visit www.axismf.com to obtain Scheme’s latest monthly portfolio holding

statement.

- 46 -

Axis Fixed Term Plan - Series 120 (91 Days)

b. Portfolio Turnover

Portfolio turnover ratio: Not applicable as the scheme is a new fund to be launched.

c. Aggregate investment in the Scheme of certain categories of persons:

Sr.

No.

Category of Persons

Net Asset Value of Units held

AMC’s Board of Directors

Not Applicable

Concerned scheme’s Fund Manager(s)

Not Applicable

iii

Other key managerial personnel

Not Applicable

Since the scheme is a new fund to be launched, the above disclosure is not applicable

- 47 -

Axis Fixed Term Plan - Series 120 (91 Days)

III. UNITS AND OFFER

This section provides details you need to know for investing in the scheme.

A. NEW FUND OFFER (NFO)

New Fund Offer Period

This is the period during

which a new Scheme sells

its unit to the Investors.

NFO opens on: January 18, 2024

NFO closes on: January 23, 2024

The AMC/Trustee reserves the right to change the New Fund

Offer Period, subject to the condition that the New Fund Offer

shall be kept open for a minimum of 3 working days and

maximum 15 days.

Any such changes shall be announced by way of a

addendum on the website

Non CTS / Outstation Cheques/Demand Drafts will not be

accepted.

Application in NFO will be processed through Direct Credit

mode(Transfer / NEFT / RTGS) only. Switch-in requests from

equity and hybrid schemes will be accepted up to January 22,

2024 till the cut-off time applicable for switches. Switch-in

requests from debt schemes will be accepted up to January

23, 2024, till the cut-off time applicable for switches.

Application(s) received after the aforesaid timelines will be

liable to be rejected.

New Fund Offer Price:

This is the price per unit that

the Investors have to pay to

invest during the NFO.

Rs. 10/- per unit

Minimum Amount for

Application/switch in during

the NFO

Rs. 5,000 and in multiples of Re. 10/- thereafter

Minimum Target amount

This is the minimum amount

required to operate the

scheme and if this is not

collected during the NFO

period, then all the investors

would be refunded the

amount invested without

any return. However, if AMC

fails to refund the amount

within 5 business days from

date of closure of NFO,

interest as specified by SEBI

(currently 15% p.a.) will be

Rs. 20 crores

- 48 -

Axis Fixed Term Plan - Series 120 (91 Days)

paid to the investors from

the expiry of 5 business days

from the date of closure of

NFO.

Maximum Amount to be

raised (if any)

This is the maximum amount

which can be collected

during the NFO period, as

decided by the AMC.

None

Plans / Options offered

The Scheme offers the following Plans:

1) Axis Fixed Term Plan - Series 120 (91 Days) - Regular Plan

2) Axis Fixed Term Plan – Series 120 (91 Days) - Direct Plan

Regular Plan

Regular Plan is available for all type of investors investing

through Distributor.

Direct Plan

Direct Plan is only for investors who purchase /subscribe Units in

a Scheme directly with the Fund and is not available for

investors who route their investments through a Distributor.

The Scheme offers the following options under each plans:

Options

Sub-options

Growth

Nil

Income

Distribution

cum Capital

Withdrawal

(IDCW)

Quarterly IDCW Payout

Scheme(s) having maturity ranging upto 12 months will offer

Quarterly IDCW option (payout facility) in addition to Growth

option.

IDCW may or may not be declared under this option at the

discretion of the Trustee.

a) Growth

IDCW will not be declared under this Option. The income

attributable to Units under this Option will continue to remain

invested in the Scheme and will be reflected in the Net Asset

Value of Units under this -Option.

b) Income Distribution cum Capital Withdrawal (IDCW)

IDCW may or may not be declared under this option at the

discretion of the Trustee/AMC. IDCW (if any) will be subject to

availability of distributable surplus calculated in accordance

with SEBI (MF) Regulations. The Trustee / AMC will also take into

account any changes to the tax treatment of IDCW in the

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Axis Fixed Term Plan - Series 120 (91 Days)

hands of the investor and dividend distribution tax as may

occur due to introduction of the Direct Tax Code of India.

The amounts can be distributed out of investors capital

(Equalization Reserve), which is part of sale price that

represents realized gains.

There will be following sub options under IDCW as follows:

i) Quarterly IDCW

Under this option, amount will be declared at a quarterly

frequency and at maturity. It may be noted that the actual

declaration of distribution will be at the discretion of the

Trustee, subject to availability of distributable surplus calculated

in accordance with SEBI (MF) Regulations.

The record date of the Quarterly IDCW will be the 25th of

March, June, September, December & the date of maturity of

the Scheme. If the record date falls on a non business day, the

record date shall be the next business day.

IDCW Payout Facility

Under this facility, IDCW declared, if any, will be paid (subject

to applicable withholding tax) to those Unit holders, whose

names appear in the register of Unit holders on the notified

record date.

Default Plan/Option

The investor must clearly specify his choice of plan/ option. In

the absence of such clear instruction, it will be assumed that

the investor has opted for ‘default’ plan/ option and the

application will be processed accordingly.

Investors subscribing under Direct Plan of a Scheme will have to

indicate “Direct Plan” against the Scheme name in the

application form e.g. “Axis Fixed Term Plan - Series 120 (91

Days) - Direct Plan”. Investors should also indicate “Direct” in

the ARN column of the application form.

The investors may refer to the following table for applicability of

Direct Plan/ Regular Plan under different scenario: -

Scenario

Broker Code

mentioned by the

investor

Plan mentioned

by the investor

Default Plan to

be captured

Not mentioned

Direct Plan

Not mentioned

Direct

Direct Plan

Not mentioned

Regular

Direct Plan

Mentioned

Direct

Direct Plan

Direct

Not Mentioned

Direct Plan

Direct

Regular

Direct Plan

Mentioned

Regular

Regular Plan

Mentioned

Not Mentioned

Regular Plan

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Axis Fixed Term Plan - Series 120 (91 Days)

In cases of wrong/ invalid/ incomplete ARN codes mentioned

on the application form, the application shall be processed

under Regular Plan. The AMC shall contact and obtain the

correct ARN code within 30 calendar days of the receipt of the

application form from the investor/ distributor. In case, the

correct code is not received within 30 calendar days, the AMC

shall reprocess the transaction under Direct Plan from the date

of application without any exit load.

Default option – Growth

Default sub-option –Quarterly IDCW

IDCW Policy

Under the IDCW option, the Trustee will have the discretion to

declare the IDCW, subject to availability of distributable surplus

calculated in accordance with the Regulations. The actual

declaration of IDCW and frequency will inter-alia, depend on

availability of distributable surplus calculated in accordance

with SEBI (MF) Regulations and the decisions of the Trustee shall

be final in this regard. There is no assurance or guarantee to

the Unit holders as to the rate of IDCW nor that it will be paid

regularly.

The AMC/Trustee reserves the right to change the frequency of

declaration of IDCW or may provide for additional frequency

for declaration of IDCW.

IDCW Distribution Procedure

In accordance with Chapter 11 of Master Circular for Mutual

Funds, the procedure for distribution would be as under:

1. Quantum of IDCW and the record date will be fixed by the

Trustee. IDCW so decided shall be paid, subject to

availability of distributable surplus.

2. Within one calendar day of the decision by the Trustees,

AMC shall issue notice to the public communicating the

decision including the record date. The record date shall be

2 working days from the date of publication in at least one

English newspaper or in a newspaper published in the

language of the region where the Head Office of the

mutual fund is situated, whichever is issued earlier.

3. Record date shall be the date, which will be considered for

the purpose of determining the eligibility of investors whose

names appear on the register of Unit holders for receiving

IDCW.

4. The notice will, in font size 10, bold, categorically state that

pursuant to payment of IDCW, the NAV of the Scheme

would fall to the extent of payout and statutory levy (if

applicable).

5. The NAV will be adjusted to the extent of IDCW distribution

and statutory levy, if any, at the close of business hours on

record date.

6. Before the issue of such notice, no communication

indicating the probable date of IDCW declaration in any

manner whatsoever will be issued by Mutual Fund.

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Axis Fixed Term Plan - Series 120 (91 Days)

Refund

Fund will refund the application money to applicants whose

applications are found to be incomplete, invalid or have been

rejected for any other reason whatsoever. Refund instruments

will be dispatched within 5 business days of the closure of NFO

period. In the event of delay beyond 5 business days, the AMC

shall be liable to pay interest at 15% per annum or such other

rate of interest as maybe prescribed from time to time. Refund

orders will be marked “A/c Payee only” and drawn in the

name of the applicant (in the case of a sole applicant) and in

the name of the first applicant in all other cases. All refund

orders will be sent by registered post or as permitted by

Regulations.

Accounts Statements/

Allotment advice

• On acceptance of the application for subscription, an

allotment confirmation specifying the number of units

allotted by way of email and/or SMS within 5 business days

from the date of receipt of transaction request will be sent

to the Unit Holders registered email address and/or mobile

number.

• In case of Unit Holders holding units in the dematerialized

mode, the Fund will not send the account statement to the

Unit Holders. The statement provided by the Depository

Participant will be equivalent to the account statement.

• For those Unit holders who have provided an e-mail

address, the AMC will send the account statement by e-

mail.

• Unit holders will be required to download and print the

documents after receiving e-mail from the Mutual Fund.

Should the Unit holder experience any difficulty in accessing

the electronically delivered documents, the Unit holder shall

promptly advise the Mutual Fund to enable the Mutual Fund

to make the delivery through alternate means. It is deemed

that the Unit holder is aware of all security risks including

possible third party interception of the documents and

contents of the documents becoming known to third

parties.

• The Unit holder may request for a physical account

statement by writing/calling the AMC/ISC/Registrar. In case

of specific request received from the Unit Holders, the

AMC/Fund will provide the Account Statement to the

Investors within 5 business days from the receipt of such

request.

Consolidated Account Statement (CAS)

CAS is an account statement detailing all the transactions and

holding at the end of the month including transaction charges

paid to the distributor, across all schemes of all mutual funds.

CAS issued to investors shall also provide the total purchase

value/cost of investment in each scheme.

Further, CAS issued for the half-year (September/ March) shall

also provide

a. The amount of actual commission paid by AMC/Mutual

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Axis Fixed Term Plan - Series 120 (91 Days)

Fund to distributors (in absolute terms) during the half-

year period against the concerned investor’s total

investments in each scheme.

b. The scheme’s average Total Expense Ratio (in

percentage terms) along with the break up between

Investment and Advisory fees, Commission paid to the

distributor and Other expenses for the period for each

scheme’s applicable plan (regular or direct or both)

where the concerned investor has actually invested in.

The amounts can be distributed out of investors capital

(Equalization Reserve), which is part of sale price that

represents realized gains.

The word transaction will include purchase, redemption,

switch, IDCW payout, IDCW reinvestment, systematic

investment plan, systematic withdrawal plan and systematic

transfer plan.

a) For Unitholders not holding Demat Account:

CAS for each calendar month shall be issued, on or before 15

day of the succeeding month by the AMC.

The AMC shall ensure that a CAS for every half year

(September/ March) is issued, on or before the 21

day of the

succeeding month, detailing holding at the end of the sixth

month, across all schemes of all mutual funds, to all such

investors in whose folios no transaction has taken place during

that period.

The AMC shall identify common investors across fund houses by

their Permanent Account Number (PAN) for the purposes of

sending CAS. In the event the account has more than one

registered holder, the first named Unit Holder shall receive the

Account Statement.

The AMC will send statement of account by e-mail where the

Investor has provided the e-mail id. Additionally, the AMC may

at its discretion send Account Statements individually to the

investors.

b) For Unitholders holding Demat Account:

SEBI vide its circular no. CIR/MRD/DP/31/2014 dated November

12, 2014 read with other applicable circulars issued by SEBI

from time to time, to enable a single consolidated view of all

the investments of an investor in Mutual Fund and securities

held in demat form with Depositories, has required Depositories

to generate and dispatch a single CAS for investors having

mutual fund investments and holding demat accounts.

In view of the aforesaid requirement, for investors who hold

demat account, for transactions in the schemes of Axis Mutual

Fund, a CAS, based on PAN of the holders, will be sent by

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Axis Fixed Term Plan - Series 120 (91 Days)

Depositories to investors holding demat account, for each

calendar month within 15

day of the succeeding month to

the investors in whose folios transactions have taken place

during that month.

CAS will be sent by Depositories every half yearly

(September/March), on or before 21

day of succeeding

month, detailing holding at the end of the six month, to all such

investors in whose folios and demat accounts there have been

no transactions during that period.

CAS sent by Depositories is a statement containing details

relating to all financial transactions made by an investor across

all mutual funds viz. purchase, redemption, switch, IDCW

payout, IDCW reinvestment, systematic investment plan,

systematic withdrawal plan, systematic transfer plan (including

transaction charges paid to the distributor) and transaction in

dematerialized securities across demat accounts of the

investors and holding at the end of the month.

In case of demat accounts with nil balance and no

transactions in securities and in mutual fund folios, the

depository shall send account statement in terms of regulations

applicable to the depositories. Investors whose folio(s)/ demat

account(s) are not updated with PAN shall not receive CAS.

Consolidation of account statement is done on the basis of

PAN. Investors are therefore requested to ensure that their

folio(s)/ demat account(s) are updated with PAN. In case of

multiple holding, it shall be PAN of the first holder and pattern

of holding.

For Unit Holders who have provided an e-mail address to the

Mutual Fund or in KYC records, the CAS is sent by e-mail.

However, where an investor does not wish to receive CAS

through email, option is given to the investor to receive the

CAS in physical form at the address registered in the Depository

system.

Investors who do not wish to receive CAS sent by depositories

have an option to indicate their negative consent. Such

investors may contact the depositories to opt out. Investors

who do not hold demat account continue to receive CAS sent

by RTA/AMC, based on the PAN, covering transactions across

all mutual funds as per the current practice.

In case an investor has multiple accounts across two

depositories; the depository with whom the account has been

opened earlier will be the default depository.

The dispatches of CAS by the depositories constitute

compliance by the AMC/ the Fund with the requirement under

Regulation 36(4) of SEBI (Mutual Funds) Regulations. However,

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Axis Fixed Term Plan - Series 120 (91 Days)

the AMC reserves the right to furnish the account statement in

addition to the CAS, if deemed fit in the interest of investor(s).

Investors whose folio(s)/demat account(s) are not updated

with PAN shall not receive CAS. Investors are therefore

requested to ensure that their folio(s)/demat account(s) are

updated with PAN.

For folios not included in the CAS (due to non-availability of

PAN), the AMC shall issue monthly account statement to such

Unit holder(s), for any financial transaction undertaken during

the month on or before 15

of succeeding month by mail or

email.

For folios not eligible to receive CAS (due to non-availability of

PAN), the AMC shall issue an account statement detailing

holding across all schemes at the end of every six months (i.e.

September/March), on or before 21

day of succeeding

month, to all such Unit holders in whose folios no transaction

has taken place during that period shall be sent by mail/e-mail.

Option to hold units in dematerialised (demat) form

Investors shall have an option to receive allotment of Mutual

Fund units in their demat account while subscribing to the

Scheme in terms of the guidelines/ procedural requirements as

laid by the Depositories (NSDL/CDSL) from time to time.

Investors desirous of having the Units of the Scheme in

dematerialized form should contact the ISCs of the

AMC/Registrar.

Where units are held by investor in dematerialized form, the

demat statement issued by the Depository Participant would

be deemed adequate compliance with the requirements in

respect of dispatch of statements of account.

In case investors desire to convert their existing physical units

(represented by statement of account) into dematerialized

form or vice versa, the request for conversion of units held in

physical form into Demat (electronic) form or vice versa should

be submitted along with a Demat/Remat Request Form to their

Depository Participants. In case the units are desired to be held

by investor in dematerialized form, the KYC performed by

Depository Participant shall be considered compliance of the

applicable SEBI norms.

Further, demat option shall also be available for SIP

transactions. Units will be allotted based on the applicable

NAV as per Scheme Information Document and will be

credited to investors Demat Account on weekly basis on

realization of funds.

Units held in Demat form are freely transferable in accordance

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Axis Fixed Term Plan - Series 120 (91 Days)

with the provisions of SEBI (Depositories and Participants)

Regulations, as may be amended from time to time. Transfer

can be made only in favour of transferees who are capable of

holding units and having a Demat Account. The delivery

instructions for transfer of units will have to be lodged with the

Depository Participant in requisite form as may be required

from time to time and transfer will be affected in accordance

with such rules / regulations as may be in force governing

transfer of securities in dematerialized mode.

For details, Investors may contact any of the Investor Service

Centres of the AMC.

Transferability of units:

Units unless otherwise restricted or prohibited shall be freely

transferable by act of parties or by operation of law. The asset

management company shall on production of instrument of

transfer together with the relevant unit certificates, register the

transfer and return the unit certificates to the transferee within

timelines prescribed by SEBI from time to time.

Who can invest

This is an indicative list and

you are requested to

consult your financial

advisor to ascertain

whether the Scheme is

suitable to your risk profile.

The following persons (subject to, wherever relevant, purchase

of unit of Mutual Funds, being permitted under respective

constitutions, and relevant statutory regulations) are eligible

and may apply for Subscription to the Unit of the Scheme:

1. Resident adult individuals either singly or jointly (not

exceeding three) or on an Anyone or Survivor basis;

2. Hindu Undivided Family (HUF) through Karta;

3. Minor (as the first and the sole holder only) through a

natural guardian (i.e. father or mother, as the case may

be) or a court appointed legal guardian. There shall not be

any joint holding with minor investments;

4. Partnership Firms;

5. Limited Liability Partnerships;

6. Proprietorship in the name of the sole proprietor;

7. Companies, Bodies Corporate, Public Sector Undertakings

(PSUs.), Association of Persons (AOP) or Bodies of Individuals

(BOI) and societies registered under the Societies

Registration Act, 1860(so long as the purchase of Unit is

permitted under the respective constitutions;

8. Banks (including Co-operative Banks and Regional Rural

Banks) and Financial Institutions;

9. Religious and Charitable Trusts, Wakfs or endowments of

private trusts (subject to receipt of necessary approvals as

"Public Securities" as required) and Private trusts authorised

to invest in mutual fund schemes under their trust deeds;

10. Non-Resident Indians (NRIs) / Persons of Indian origin (PIOs)

residing abroad on repatriation basis or on non-repatriation

basis;

11. Foreign Portfolio Investor (FPI) registered with SEBI, on

repatriation basis. These investments shall be subject to the

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Axis Fixed Term Plan - Series 120 (91 Days)

conditions prescribed by SEBI, RBI, Income Tax authorities

and the AMC, from time to time;

12. Army, Air Force, Navy and other para-military units and

bodies created by such institutions;

13. Scientific and Industrial Research Organisations;

14. Multilateral Funding Agencies / Bodies Corporate

incorporated outside India with the permission of

Government of India / RBI;

15. Provident/ Pension/ Gratuity Fund to the extent they are

permitted;

16. Other schemes of Axis Mutual Fund or any other mutual

fund subject to the conditions and limits prescribed by SEBI

Regulations;

17. Scheme of Alternative Investment Funds;

18. Trustee, AMC or Sponsor or their associates may subscribe

to Units under the Scheme(s);

19. Such other category of person(s) permitted to make

investments and as may be specified by the AMC / Trustee

from time to time.

Subject to SEBI (Mutual Funds) Regulations, 1996, any

application for subscription of units may be accepted or

rejected in the sole and absolute discretion of the AMC/

Trustee company. The AMC/ Trustee company may also reject

any application for subscription of units if the application is

invalid, incomplete, or if the AMC/ Trustee company for any

other reason does not believe that it would be in the interest of

the scheme or its unitholders to accept such an application.

Note: Following is the process for investments made in the

name of a Minor through a Guardian: -

• Payment for investment by means of Cheque, Demand

Draft or any other mode shall be accepted from the bank

account of the minor, parent or legal guardian of the

minor, or from a joint account of the minor with parent or

legal guardian .

• Mutual Fund will send an intimation to Unit holders advising

the minor (on attaining majority) to submit an application

form along with prescribed documents to change the

status of the account from ‘minor’ to ‘major’.

• All transactions / standing instructions / systematic

transactions etc. will be suspended i.e. the Folio will be

frozen for operation by the guardian from the date of

beneficiary child completing 18 years of age, till the status

of the minor is changed to major. Upon the minor attaining

the status of major, the minor in whose name the

investment was made, shall be required to provide all the

KYC details, updated bank account details including

cancelled original cheque leaf of the new bank account.

• No investments (lumpsum/SIP/ switch in/ STP in etc.) in the

scheme would be allowed once the minor attains majority

i.e. 18 years of age

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Axis Fixed Term Plan - Series 120 (91 Days)

Email ID & Mobile Number

Investors should provide their own email address and mobile

number to enable Axis AMC for speed and ease of

communication in a convenient and cost-effective manner,

and to help prevent fraudulent transactions.

Ultimate Beneficial Ownership details:

SEBI vide its circular no. CIR/MIRSD/2/2013 dated January 24,

2013 further read with AMFI Best practices guidelines circular

no. 62/2015-16 dated September 18, 2015 and other

applicable regulations has prescribed guidelines, for

identification of Beneficial Ownership to be followed by the

intermediaries. A ‘Beneficial owner’ is defined as a natural

person or persons who ultimately own, control or influence a

client and/or persons on whose behalf a transaction is being

conducted, and includes a person who exercises ultimate

effective control over a legal person or arrangement. In this

regard, all categories of investors (including all new / existing

investors / unitholders) (except individuals, companies listed on

a stock exchange or majority-owned subsidiary of such

companies) are mandatorily required to provide beneficial

ownership details for all investments. Failing which, fund

reserves the right to reject applications / subscription requests /

additional subscription requests (including switches) / restrict

further investments or seek additional information from investors

who have not provided the requisite information on beneficial

ownership. In the event of change in beneficial ownership,

investors are requested to immediately update the details with

the Fund/Registrar.

Foreign Account Tax Compliance Act (‘FATCA’) and Common

Reporting Standards (CRS) requirements:

As a part of various ongoing tax and regulatory developments

around the globe such as Foreign Account Tax Compliance

Act (‘FATCA’) and Common Reporting Standard (‘CRS'),

financial institutions like Axis Mutual Fund (‘Axis MF’) are being

cast with additional investor and counterparty account related

due diligence requirements.

FATCA is a United States of America (“U.S.”) tax initiative that

requires all financial institutions to report financial transactions

of U.S. persons including entities in which U.S. persons hold a

substantial ownership, etc. to the relevant tax authorities. It

was introduced by the United States Department of Treasury

and the US Internal Revenue Service (“IRS”) The purpose of

FATCA is to prevent tax evasion by US citizens and residents (US

Persons) through use of offshore accounts. FATCA obligates

financial institutions (FIs), including Indian financial institutions to

provide information on the accounts of / to report accounts

held by specified US Persons. FATCA requires enhanced due

diligence procedures by the FI so as to identify US reportable

accounts. With respect to individuals, the US reportable

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Axis Fixed Term Plan - Series 120 (91 Days)

accounts would cover those with US citizenship or US residency.

Further, similar to FATCA, G20 and OECD countries have

released a “Standard for Automatic Exchange of Financial

Account Information in Tax Matters”, commonly known as the

CRS on Automatic Exchange of Information (AEOI). CRS

mandates automatic tax information exchange regarding

accounts of reportable persons between the CRS compliant

jurisdictions.

The Indian Government signed an Inter-Governmental

Agreement (“IGA”) with the U.S. on July 9, 2015 to implement

FATCA in India. In addition, India also signed the OECD’s

Model Competent Authority Agreement for tax information

sharing in accordance with multilateral Common Reporting

Standard (“CRS”) on June 3, 2015. India had committed to

implement CRS and the same has been implemented from

January 1, 2016. Towards this, the Central Board of Direct Taxes

has inserted Section 285BA of the Income Tax Act, 1961 along

with Rules 114F to 114H (FATCA-CRS Rules), as part of the

Income-tax Rules, 1962. These Rules require Indian financial

institutions such as the Banks, Mutual Funds, etc. to seek

additional personal, tax and beneficial owner information and

certain certifications and documentation from all our investors

and counterparties. According to the FATCA-CRS Rules,

financial institutions in India are required to report tax

information about account holders that tax resident of U.S. and

other foreign countries, to the CBDT/ Indian Government which

will, in turn, will relay that information to the IRS and

governments of other foreign countries.

These developments have resulted in compliance and

reporting obligations on Financial Institutions like Axis MF. In

relevant cases, information will have to be reported to tax

authorities i.e. CBDT. Towards compliance, the Fund may also

be required to provide information to any institutions such as

withholding agents for the purpose of ensuring appropriate

withholding from the account or any proceeds in relation

thereto. Axis MF has taken appropriate measures in order to

become FATCA and CRS compliant, with effect from the

applicable date as per applicable laws / rules/ regulations. As

may be required by domestic or overseas regulators/ tax

authorities, we may also be constrained to withhold and pay

out any sums from your account or close or suspend your

account(s). Axis MF may also have to comply with other similar

laws as and when applicable.

SEBI issued its circular no. CIR/MIRSD/2/2015 dated August 26,

2015 inter-alia advising intermediaries to take necessary steps

to ensure compliance with the requirements specified in the

rules and guidelines specified by the Government of India.

AMFI also issued its best practices guidelines circular no.

63/2015-16 dated September 18, 2015 on this matter. The AMC

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Axis Fixed Term Plan - Series 120 (91 Days)

and the Mutual Fund are required to adhere to various

requirements inter-alia including submission of various

information / details relating to the investors in the schemes of

the mutual fund, to authorities, as specified under the

applicable laws.

Accordingly, the following aspects need to be adhered to:

• With effect from November 1, 2015 all investors will have to

mandatorily provide the information and declarations

pertaining to FATCA/CRS for all new accounts opened,

failing which the application / transaction request shall be

liable to be rejected.

• For all new accounts opened by investors, from September

1, 2015 till October 31, 2015, MFs need to obtain relevant

FATCA declarations. These details / certification need to be

obtained by December 31, 2015, particularly in cases

where, after Indicia search, a positive match is found with

any US indicia. If certification is not provided by an investor

or the reasonableness of self-certification cannot be

confirmed, the account is treated as reportable.

• Investors are requested to note that under the alternative

procedure provided in Rule 114H(8) of the Income-tax

Rules, 1962, the financial institutions were required to obtain

FATCA/CRS self-certification and carry out due diligence in

respect of all individual and entity accounts opened from

1st July 2014 to 31st August 2015. Such self-certification and

documentation was required to be obtained by the

financial institutions by an extended timeline of 31st August

2016. In the event that such self-certification were not

received within this timeline, financial institutions were

required to close the account and if the account were

found to be a "reportable account", report the same. In

view of the difficulties highlighted by stakeholders in

complying with the provision for "closure" of financial

accounts, the Ministry of Finance, Government of India

vide Press Release dated 31st August 2016 extended the

time line for closure (from 31 August 2016) until further

notification.

Further to this, the Ministry of Finance, Government of India

vide its Press release dated April 11, 2017 directed financial

institutions to obtain the self-certification by April 30, 2017,

failing which the accounts would need to be blocked.

The transactions in such blocked folios would, be permitted

only once the self-certification is obtained and due

diligence completed. Investors are advised to complete

their self-certification at the earliest to prevent being

inconvenienced on account of blocking of any folio(s).

Prospective investors and Unit holders will therefore be required

to comply with the request of the Fund to furnish such

information / documentation / declarations as and when

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Axis Fixed Term Plan - Series 120 (91 Days)

deemed necessary by the Investment Manager in

accordance with Applicable Laws. In case prospective

investor / Unit holder fails to furnish the relevant information /

documentation / declarations in accordance with Applicable

Laws, the Fund reserves the right to reject the application or

redeem the Units held directly or beneficially and may also

require reporting of such accounts and/or levy of withholding

tax on payments made to the Unit holders / investor and/or

take any other action/s in accordance with Applicable Laws.

FATCA-CRS provisions are relevant not only at on-boarding

stage of Unit holders but also throughout the life cycle of

investment with the Fund. Unit holders therefore should

immediately intimate to the Fund/the Investment Manager,

any change in their status with respect to any FATCA-CRS

related information / documentation / declarations provided

by them previously, including but not limited to any

declarations provided in respect of residency of the Unit

holders for tax purposes. Further, if the Fund and/or the

Investment Manager is required by Applicable Laws, to provide

information regarding the Fund and/or the unit holders /

investors to any regulatory authority and/or the Fund

Investments and/or income therefrom, and the Fund and/or

the Investment Manager complies with such request in good

faith, whether or not it was in fact enforceable, they shall not

be liable to the Unit holders / investors or to any other party as

a result of such compliance or in connection with such

compliance.

Prospective investors / Unit holders should consult their own

advisors to understand the implications of FATCA-CRS

provisions/requirements. Please note that Axis MF will be

unable to provide advice to any investor or counterparty

about their tax status or FATCA/CRS classification relevant to

their account. It is the responsibility of the investor or

counterparty to ensure that they record their correct tax status

/ FATCA/ CRS classification. Investor/ counterparty may seek

advice from their tax advisor in this regard. The onus to provide

accurate, adequate and timely inputs in this regard would be

that of the investor or counterparty. Any changes in earlier

information provided must be intimated within 30 days of such

change.

Investors are requested to provide all the necessary information

/ declarations to facilitate compliance, considering India’s

commitment to implement CRS and FATCA under the relevant

international treaties.

Implementation of KYC requirements:

SEBI vide circular no. MIRSD/SE/Cir-21/2011 dated October 5,

2011 had mandated (i) Standard KYC form with uniform KYC

guidelines and supporting documents to be used by SEBI

registered intermediaries and (ii) Centralized KYC registration

through KYC Registration Agencies (KRAs) registered with SEBI,

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Axis Fixed Term Plan - Series 120 (91 Days)

w.e.f. January 1, 2012, to bring about uniform KYC process in

the securities market, based on SEBI prescribed norms and the

KYC details are shared with all SEBI registered intermediaries by

the KRAs.

Subsequently, SEBI, vide its circular no. MIRSD/Cir-5/2012 dated

April 13, 2012 advised various intermediaries to upload KYC

data of its existing customers into the KRA system. While

uploading KYC data into the KRA system, intermediaries were

also required to highlight such ‘Missing/Not Available’ KYC

information of a customer, which was either not required or not

taken previously, but was mandatory as per uniform KYC

guidelines issued by SEBI.

In accordance with AMFI best practices guidelines circular no.

62/2015-16 dated September 18, 2015, it is mandatory for all

new/existing investors to provide additional KYC information

such as Income details, Occupation, association with politically

exposed person, net worth etc. as mentioned in the

application form. Subscription requests, without providing these

details, are liable to be rejected. No subscriptions (whether

fresh or additional) and switches pertaining to ‘KYC on-hold’

cases are accepted, unless the investor / unitholder also

submits relevant KYC missing / updated information, which is

appropriately updated on the KRA - KYC.

Further, it is mandatory for existing customers to complete In-

Person Verification process and provide the missing KYC

information failing which their applications / transaction

requests for additional subscription (including switches) is liable

to be rejected.

Central KYC Process

Central Registry of Securitisation and Asset Reconstruction and

Security interest of India (‘CERSAI’) has been authorised by

Government of India to act as Central KYC Records Registry

under Prevention of Money-Laundering (Maintenance of

Records) Rules, 2005 (‘PMLA Rules’).

SEBI vide its circular no. CIR/MIRSD/66/2016 dated July 21, 2016

and circular no. CIR/MIRSD/120/2016 dated November 10,

2016 has prescribed that the Mutual Fund/ AMC should

capture KYC information for sharing with CKYCR as per the KYC

template prescribed by CERSAI for uniform and smooth

implementation of CKYC norms for onboarding of new

investors in Mutual Funds.

In accordance with the aforesaid SEBI circulars and AMFI best

practice guidelines for implementation of CKYC norms with

effect from February 1, 2017:

a) Individual investors who have never done KYC process

under KRA regime i.e. a new investor who is new to KRA

system and whose KYC is not registered or verified in the

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Axis Fixed Term Plan - Series 120 (91 Days)

KRA system shall be required to provide KYC details in the

CKYC Form to the Mutual Fund/ AMC.

b) Individual investor who fills old KRA KYC Form, should

provide additional / missing information using

Supplementary KYC Form or fill CKYC Form. The said form is

available on Axis Mutual Fund website www.axismf.com.

c) Details of investors shall be uploaded on the system of

CKYCR and a 14 digit unique KYC Identification Number

(‘KIN’) will be generated for such customer.

d) New investors, who have completed CKYC process &

have obtained KIN may quote their KIN in the application

form instead of submitting CKYC Form/ Supplementary

KYC Form.

e) AMC/ Mutual Fund shall use the KIN of the investor to

download the KYC information from CKYCR system and

update its records.

f) If the PAN of investor is not updated on CKYCR system, the

investor should submit self-certified copy of PAN card to

the Mutual Fund/ AMC.

The AMC reserves the right to reject transaction application in

case the investor(s) fails to submit information and/or

documentation as mentioned above. In the event of non-

compliance of KYC requirements, the Trustee / AMC reserves

the right to freeze the folio of the investor(s).

Submission of Aadhar Number

Pursuant to requirement under Prevention of Money

Laundering (Maintenance of Records) Rules, 2005 as amended

from time to time, proof of possession of Aadhar can be

accepted as a valid document for proof of address or proof of

identity of investors, provided the investor redact or blackout

his Aadhar number while submitting the applications for

investments.

The aforesaid guidelines will be subject to change as per the

directives issued by the concerned regulatory/ government

authority from time to time.

For further details refer to SAI.

Who cannot invest

1. Any individual who is a foreign national or any other entity

that is not an Indian resident under the Foreign Exchange

Management Act, 1999 (FEMA Act) except where

registered with SEBI as a FPI or otherwise explicitly permitted

under FEMA Act/ by RBI/ by any other applicable authority.

2. Pursuant to RBI A.P. (DIR Series) circular no. 14 dated

September 16, 2003, Overseas Corporate Bodies (OCBs)

cannot invest in Mutual Funds.

3. NRIs residing in Non-Compliant Countries and Territories

(NCCTs) as determined by the Financial Action Task Force

(FATF), from time to time.

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Axis Fixed Term Plan - Series 120 (91 Days)

4. U.S. Persons and Residents of Canada as defined under the

applicable laws of U.S. and Canada except the following:

a. subscriptions received by way of lump sum / switches /

systematic transactions received from Non-resident

Indians (NRIs) /Persons of Indian origin (PIO) / Overseas

Citizen of India (OCI) who at the time of such

investment, are present in India and

b. FPIs

5. Such other persons as may be specified by AMC from time

to time.

These investors need to submit a physical transaction request

along with such documents as may be prescribed by the

AMC/ the Trustee/ the Fund from time to time.

The AMC shall accept such investments subject to the

applicable laws and such other terms and conditions as may

be notified by the AMC/the Trustee. The investor shall be

responsible for complying with all the applicable laws for such

investments.

The AMC reserves the right to put the transaction requests on

hold/reject the transaction request/reverse allotted units, as

the case may be, as and when identified by the AMC, which

are not in compliance with the terms and conditions notified in

this regard.

Where can you submit the

filled up applications.

Please refer the back cover page of the Scheme Information

Document

How to Apply

Application form and Key Information Memorandum may

be obtained from the Investor Service Centres (ISCs)/Official

Points of Acceptance(OPAs) of AMC or downloaded from the

website of AMC viz. www.axismf.com. For further details, kindly

refer SAI

Listing

The Units of the Scheme(s) will be listed on the Exchange within

5 business days from the date of allotment or within such time

as the Regulations permit. An investor can buy/sell Units on the

Exchange during the trading hours like any other publicly

traded stock.

The trading facility on the Exchange would be available from

the date of listing till the date of suspension of trading by stock

exchange(s) where the Scheme is listed.

The trading of Units on BSE and/or any other Stock Exchange(s)

on which the Units are listed will automatically get suspended

one Business Day prior to the record date for redemption of

Units on Maturity Date/ Final Redemption Date. No separate

notice will be issued by the AMC informing about Maturity

Record Date or Suspension of trading by the stock exchange.

However, the Fund reserves the right to change the record

date for maturity by issue of suitable notice. The Unit holders

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Axis Fixed Term Plan - Series 120 (91 Days)

whose name(s) appear on the list of beneficial owners as per

the Depositories (NSDL/CDSL) on records date shall be entitled

to receive redemption proceeds of Units.

The price of the Units in the market on Exchange will depend

on demand and supply and market factors and forces. There is

no minimum investment amount for investment through

Exchange, although Units dealt in minimum in lots of 1.

Special Products / facilities

available during the NFO

Special features such as Systematic Investment Plan,

Systematic Transfer Plan and Systematic Withdrawal Plan shall

not be available.

Online Transactions

Axis Mutual Fund will allow Transactions by electronic mode

through the AMC website (during the NFO for existing/new

investors). The Subscription proceeds, when invested through

this mode, are by way of direct debits to the designated bank

through payment gateway. The AMC will have right to modify

the procedure of transaction processing after intimation to the

Investor.

Investment amount through this facility may be restricted by

the AMC from time to time in line with prudent risk

management requirements and to protect the overall interest

of the Investors.

For details of the facility, investors are requested to refer to the

website of the AMC.

Transactions through electronic platform(s) of KFin

Technologies Ltd.

Investors will be allowed to transact through

https://mfs.kfintech.com/mfs/, an electronic platform provided

by M/s. KFin Technologies Ltd., Registrar & Transfer Agent, in

Schemes of Axis Mutual Fund (‘Fund’) (except Axis Gold ETF).

The facility will also be available through mobile application of

KFin Technologies Ltd.

The uniform cut off time as prescribed under the SEBI (Mutual

Funds) Regulations, 1996 and as mentioned in SID and KIM of

the Scheme will be applicable for transactions received

through the above electronic platform and the time of receipt

of transaction recorded on the server(s) of KFin Technologies

Ltd. will be reckoned as the time for the purpose of

determining applicability of NAV, subject to credit of funds to

bank account of scheme, wherever applicable.

The facility is subject to operating guidelines, terms and

conditions as may be prescribed by KFin Technologies Ltd. or

as may be specified by Axis Asset Management Company Ltd.

from time to time. For operating guidelines and terms and

conditions, investors are requested to visit

https://mfs.kfintech.com/mfs/.

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Axis Fixed Term Plan - Series 120 (91 Days)

Time of receipt of transaction recorded on the server(s) of KFin

Technologies Ltd. will continue to be reckoned for electronic

transactions received through AMC website/ Distributor

website/ applications etc subject to credit of funds to bank

account of scheme, wherever applicable.

Transactions, through the mutual fund trading platforms of the

Bombay Stock Exchange and National Stock Exchange

Investors may be provided facility to subscribe to Units of the

scheme through the mutual fund trading platforms of the

Bombay Stock Exchange (“BSE”) (BSE StAR MF Platform) and

National Stock Exchange (“NSE”) (Mutual Fund Service System

(MFSS) Platform - with NSDL and CDSL as depositories for such

units of the mutual fund.

The policy regarding reissue

of Repurchased Unit,

including the maximum

extent, the manner of

reissue, the entity (the

Scheme or the AMC)

involved in the same.

Units issued under the scheme will be listed and therefore no

repurchase facility is being provided. On maturity, the units

held will be redeemed and proceeds paid to the investors.

Restrictions, if any, on the

right to freely retain or

dispose of units being

offered.

The Units of the Scheme are not transferable except for Units

held in dematerialized form. In view of the same, additions /

deletions of names will not be allowed under any folio of the

scheme. However, the said provisions will not be applicable in

case a person (i.e. a transferee) becomes a holder of the Units

by operation of law or upon enforcement of pledge, then the

AMC shall, subject to production of such satisfactory evidence

and submission of such documents, proceed to effect the

transfer, if the intended transferee is otherwise eligible to hold

the Units of the scheme.

The said provisions in respect of deletion of names will not be

applicable in case of death of a Unit holder (in respect of joint

holdings) as this is treated as transmission of Units and not

transfer.

As the Units of the Scheme will also be issued in dematerialized

form, the Units will be transferable through the Stock

Exchange(s) on which the said Units are listed in accordance

with the provisions of SEBI (Depositories and Participants)

Regulations, as may be amended from time to time.

The delivery instructions for transfer of Units will have to be

lodged with the DP in the requisite form as may be required

from time to time and transfer will be effected in accordance

with such rules/regulations as may be in force governing

transfer of securities in dematerialized form.

SUSPENSION OF SALE / REDEMPTION OF THE UNITS

The Sale / Redemption of the Units may be temporarily

suspended, on the stock exchange(s) on which the Units of the

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Axis Fixed Term Plan - Series 120 (91 Days)

scheme are Listed, under the following conditions:

• During the period of Book Closure.

• During the suspension of trading in units of the Scheme by

Stock Exchange(s) prior to record date for determining the

Unit holders whose name(s) appear on the list of beneficial

owners as per the Depositories (NSDL/CDSL) records for the

purpose of redemption of Units on Maturity / Final

Redemption date/Declaration of IDCW.

• In the event of any unforeseen situation that affects the

normal functioning of the stock exchange(s).

• If so directed by SEBI.

The above list is not exhaustive and may also include other

factors.

Cash Investments in mutual

funds

In order to help enhance the reach of mutual fund products

amongst small investors, who may not be tax payers and may

not have PAN/bank accounts, such as farmers, small

traders/businessmen/workers, SEBI has permitted receipt of

cash transactions for fresh purchases/ additional purchases to

the extent of Rs. 50,000/- per investor, per financial year subject

to:

i. compliance with Prevention of Money Laundering Act, 2002

and Rules framed there under; the SEBI Circular(s) on Anti

Money Laundering (AML) and other applicable Anti Money

Laundering Rules, Regulations and Guidelines; and

ii. sufficient systems and procedures in place.

However, payment towards redemptions, IDCW, etc. with

respect to aforementioned investments shall be paid only

through banking channel.

The Fund/ AMC is currently in the process of setting up

appropriate systems and procedures for the said purpose.

Appropriate notice shall be displayed on its website viz. as well

as at the Investor Service Centres, once the facility is made

available to the investors.

Facility to transact in units of

the Schemes through MF

Utility portal & MFUI Points of

Services pursuant to

appointment of MF Utilities

India Pvt. Ltd.

AMC has entered into an Agreement with MF Utilities India

Private Limited (“MFUI”), a “Category II – Registrar to an Issue”

under SEBI (Registrars to an Issue and Share Transfer Agents)

Regulations, 1993, for usage of MF Utility (“MFU”) - a shared

services initiative of various Asset Management Companies,

which acts as a transaction aggregation portal for transacting

in multiple Schemes of various Mutual Funds with a single form

and a single payment instrument.

Accordingly, investors are requested to note that in addition to

the existing official points of acceptance (“OPA”) for

accepting transactions in the units of the schemes of the Axis

mutual Fund as disclosed in the SID, www.mfuonline.com i.e.

online transaction portal of MFU and the authorized Points of

Service (“POS”) designated by MUFI shall also be the OPA with

effect from the dates as may be specified by MFUI on its

website/AMC by issuance of necessary communication.

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Axis Fixed Term Plan - Series 120 (91 Days)

All financial and non-financial transactions pertaining to

Schemes of Axis Mutual Fund can be done through MFU either

electronically on www.mfuonline.com as and when such a

facility is made available by MFUI or physically through the POS

of MFUI with effect from the respective dates as published on

MFUI website against the respective POS locations. The list of

POS of MFUI is published on the website of MFUI at

www.mfuindia.com. This will be updated from time to time.

The uniform cut-off time as prescribed SEBI (Mutual Fund)

Regulations 1996, circulars issued by SEBI and as mentioned in

the SID / KIM of respective schemes shall be applicable for

applications received on the portal of MFUI i.e.

www.mfuonline.com. However, investors should note that

transactions on the MFUI portal shall be subject to the terms &

conditions (including those relating to eligibility of investors) as

stipulated by MFUI / Axis Mutual Fund / the AMC from time to

time and in accordance to the laws applicable.

MFUI will allot a Common Account Number (“CAN”), a single

reference number for all investments in the Mutual Fund

industry, for transacting in multiple Schemes of various Mutual

Funds through MFU and to map existing folios, if any. Investors

can create a CAN by submitting the CAN Registration Form

(CRF) and necessary documents at the MFUI POS. The AMC

and / or its Registrar and Transfer Agent (RTA) shall provide

necessary details to MFUI as may be needed for providing the

required services to investors / distributors through MFU.

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Axis Fixed Term Plan - Series 120 (91 Days)

B. ONGOING OFFER DETAILS

Ongoing Offer Period

This is the date from

which the Scheme will

reopen for

Subscriptions/redempti

ons after the closure of

the NFO period.

Being a close ended Scheme, Investors can subscribe to the Units of the

scheme during the New Fund Offer Period only and such scheme will not

re-open for subscriptions after the closure of NFO. The redemption facility

would be provided only on Maturity.

However, subsequent to closure of NFO and upon listing of Units on

Exchange, buying or selling of Units by Unit holders / Investors can be made

on the Exchange. Units can be bought or sold like any other listed stock on

the Exchange at prevailing market prices.

The minimum number of Units that can be bought or sold on the Exchange

is one Unit. The Units’ market prices may be at a premium/discount to its

NAV. Dealings by the Unit holders / Investors on the Exchange will be also

subject to Exchange Rules and Regulations.

Unit holders are requested to note that in respect of Switch in requests,

made for the Units held in dematerialized form, into a Fixed Maturity Plan or

into any other Scheme, the Units of which are or shall be listed on any

recognized Stock Exchange(s), the balance amount represented for the

fractional Units of the Switch-in Scheme will be refunded to the Unit holders.

Ongoing price for

Subscription

(purchase)/Switch-in

(from other

Schemes/Plans of the

Mutual Fund) by

investors.

This is the price you

need to pay for

purchase/Switch-in.

Ongoing price for

Redemption (Sale)

/Switch outs (to other

Schemes/Plans of the

Mutual Fund) by

investors.

This is the price you will

receive for redemptions

/ switch outs.

Cut off timing for

Subscriptions/

redemptions/ Switches

This is the time before

which your application

(complete in all

respects) should reach

the Official Points of

Acceptance.

After close of NFO Period, the Fund will not provide facility for subscription /

redemption / switches, and hence cut-off timing provisions do not apply.

In case of switch-out proposed for investing the redemption proceeds in

another scheme of the Fund, the switch-out request will be accepted upto

3.00 p.m. on the Maturity Date. The above mentioned cut off timing shall be

applicable to transactions through the online trading platform also.

The Date of Acceptance will be reckoned as per the date & time; the

transaction is entered in stock exchange’s infrastructure for which a system

generated confirmation slip will be issued to the investor.

Dealings by the Unit holders/ Investors on Exchange will be also subject to

Exchange Rules and Regulations.

Settlement of purchase/ sale of Units of the Scheme on BSE

Buying/ Selling of units of the Schemes on the BSE is just like buying/ selling

any other normal listed security. If an investor has bought units, he has to

pay the purchase amount to the trading member/ sub-broker, such that

the amount paid is realised by the trading member who has bought the

units before the funds pay-in day of the settlement cycle on the BSE. If an

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Axis Fixed Term Plan - Series 120 (91 Days)

investor has sold units, he has to deliver the units to the broker/ sub-broker

before the securities pay-in day of the settlement cycle on the BSE. The units

(in the case of units bought) and the funds (in the case of units sold) are

paid out to the trading member on the payout day of the settlement cycle

on the BSE. The Exchange regulations stipulate that the trading member

should pay the money or units to the investor within 24 hours of the payout.

If an investor has bought units, he should give standing instructions for

‘Delivery- In’ to his DP for accepting units in his beneficiary account. An

investor should give the details of his beneficiary account and the DP-ID of

his DP to his trading member/ sub-broker. The trading member will transfer

the units directly to the investor’s beneficiary account on receipt of the

same from Exchanges’ Clearing Corporation.

An investor who has sold units should instruct his (DP) to give ‘Delivery Out’

instructions to transfer the units from his beneficiary account to the Pool

Account of his trading member through whom he has sold the units. The

details of the Pool A/c of his trading member to which the units are to be

transferred, unit quantity etc. should be mentioned in the Delivery Out

instructions given by him to the DP. The instructions should be given well

before the prescribed securities pay-in day.

Rolling Settlement

The Pay-in and Pay-out of funds and the securities/units takes place within 2

working days after the trading date. The pay-in and pay-out days for funds

and securities are prescribed as per the Settlement Cycle of the Exchange.

Where can the

applications for

purchase/redemption

Switches be submitted?

The Units of the scheme will not be available for subscriptions / switch-in

after the closure of NFO Period of such scheme.

Units will be automatically redeemed on the Maturity Date, except requests

for switch-out received by the Fund. Such switch-out requests can be

submitted at any of the Official Points of Acceptance.

The application forms for switch-out of units on the Maturity date should be

submitted at / may be sent by mail to, any of the ISCs / Official Points of

Acceptance whose names and addresses are mentioned on the back

cover page of the SID.

For details on updated list of ISCs / Official Points of Acceptance investors

are requested to call the toll free number or contact the AMC branches or

log on to our website www.axismf.com.

Minimum amount for

purchase/Redemption/

Switches

The Units of the scheme will not be available for subscriptions / switch-in

after the closure of NFO Period.

Minimum balance to

be maintained and

consequences of non-

maintenance.

Not applicable

Special Products

available

Switch out facility

Unit holders under the Scheme have the option to Switch part or all of their

Unit holdings in the Scheme to any other Scheme offered by the Mutual

Fund from time to time on the date of maturity.

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Axis Fixed Term Plan - Series 120 (91 Days)

The Switch will be effected by way of a Redemption of Units from the

Scheme at Applicable NAV, subject to Exit Load, if any and reinvestment of

the Redemption proceeds into another Scheme offered by the Mutual

Fund at Applicable NAV and accordingly the Switch must comply with the

Redemption rules of the Switch Out Scheme and the Subscription rules of

the Switch in Scheme.

Automatic Switch of Redemption proceeds on Maturity (Auto Maturity

Switch)

The Mutual Fund provides the investors the flexibility to switch their

redemption proceeds receivable on maturity of the scheme to any of the

Open ended schemes of Axis Mutual Fund. Investor can choose to avail of

this facility only at the time of making the application to subscribe to the

units of the scheme. To make the switch effective, investor needs to hold all

the units till maturity of the scheme. The switch shall be subject to the

applicable terms and conditions of both the switch-out scheme and switch-

in scheme as regards the minimum number of Units that may be redeemed

or issued, Exit / Entry Load etc.

However, investor shall have an option to alter his preference from auto

maturity switch to Payout Option by submitting a written request, at any

time during the tenure of the scheme, not later than 7 working days from

the maturity of the scheme.

This Auto switch facility shall be affected by way of a Redemption of Units

from the Scheme on its maturity and investment of the Redemption

proceeds to any of the Open ended schemes of Axis Mutual Fund. (or the

next business day if date of maturity is a non-business day).

For details of the facility, please contact any ISC of Axis Mutual Fund.

Purchase/Redemption of units through Stock Exchange Infrastructure

Investors may be provided facility to subscribe to the Units of Axis Mutual

Fund through the mutual fund trading platforms of the Bombay Stock

Exchange (“BSE”) and National Stock Exchange (“NSE”) - with NSDL and

CDSL as depositories for such units of the mutual fund.

NSE has introduced Mutual Fund Service System (MFSS) Platform, BSE has

introduced BSE StAR MF Platform (Stock Exchange Platform).

The following are the salient features of the facility:

1. The facility is available for both existing and new investors.

2. The Investors will be able to purchase/redeem units of the scheme.

Further, facility to switch units shall be provided if are available on the

platform.

3. The facility can be availed by both, investors under Direct Plan offered

by the schemes and investors investing through Distributors under the

Regular Plan offered by the schemes

4. List of additional Official Point of Acceptance

The following shall be the additional Official Point of Acceptance of

Transactions for the Scheme:

All trading members of BSE and NSE who are registered with AMFI as

Mutual Fund Distributor and also registered with BSE & NSE as

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Axis Fixed Term Plan - Series 120 (91 Days)

Participants ("AMFI registered stock exchange brokers") will be eligible

to offer this facility to investors and shall be treated as Official Point of

Acceptance of Transactions.

Units of Scheme shall be permitted to be transacted through clearing

members of the registered Stock Exchanges. Further, the Depository

Participants of registered Depositories are permitted to process only

redemption request of units held in demat form.

Clearing members and Depository participants will be considered as

Official Points of Acceptance (OPA) of Axis Mutual Fund and

conditions stipulated in Para 16.2.4.4 of Master Circular for Mutual

Funds for stock brokers viz. AMFI /NISM certification, code of conduct

prescribed by SEBI for Intermediaries of Mutual Fund, shall be

applicable for such Clearing members and Depository participants as

well.

5. The window for purchase/redemption of units on BSE StAR and NSE

MFSS will be available between 9 a.m. and 3 p.m. or such other timings

as may be decided.

6. Investors (under this facility) may hold the units in dematerialized or

physical mode for transacting through BSE StAR and NSE MFSS.

7. Investors shall be able to purchase/redeem units in the Scheme in

demat mode in the following manner:

(i) Investors shall receive redemption amount (if units are redeemed)

and units (if units are purchased) through broker/ clearing member's

pool account. Axis Asset Management Company Limited (the

"AMC")/Axis Mutual Fund (the "Mutual Fund") shall pay proceeds to

the broker/clearing member (in case of redemption) and

broker/clearing member in turn to the respective investor and

similarly units shall be credited by the AMC/ Mutual Fund into

broker/clearing member's pool account (in case of purchase) and

broker/clearing member in turn shall credit the units to the respective

investor's demat account.

(ii) Payment of redemption proceeds to the broker/clearing members

by AMC/Mutual Fund shall discharge AMC/Mutual Fund of its

obligation of payment to individual investor. Similarly, in case of

purchase of units, crediting units into broker/clearing member pool

account shall discharge AMC/Mutual Fund of its obligation to allot

units to individual investor.

In case of transaction through distributors using BSE Star/ MFSS, the

distributor shall not handle payout and pay in of funds as well as units

on behalf of investor. The pay in in such cases will be directly received

by recognised clearing corporation and payout will be directly made

to investor account. In the same manner, units shall be credited and

debited directly from the demat account of investors.

8. Applications for purchase/redemption of units which are incomplete

/invalid are liable to be rejected.

9. For all the transactions done through these platforms, separate Folio.

No. shall be allotted to the existing and the new investors. The bank

a/c number, address, nomination details etc. shall be the same as per

the Demat account of the investor. In case of non-financial

requests/applications such as change of address, change of bank

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Axis Fixed Term Plan - Series 120 (91 Days)

details, etc. for units held in demat mode investors should approach

the respective Depository Participant(s) and OPAT of AMC for units

held in physical mode.

10. Investors will have to comply with Know Your Customer (KYC) norms as

prescribed by BSE/NSE/CDSL/ NSDL and Axis Mutual Fund to participate

in this facility.

11. Investors should get in touch with Investor Service Centres (ISCs) of Axis

Mutual Fund for further details.

Transaction routed through Distributor/ SEBI Registered Investment Advisor:

SEBI circular no. CIR/MRD/DSA/32/2013 dated October 4, 2013 and circular

no. CIR/MRD/DSA/33/2014 dated December 9, 2014, has permitted Mutual

Fund Distributors (MF Distributors) and SEBI circular no.

SEBI/HO/MRD/DSA/CIR/P/2016/113 dated October 19, 2016 permitted SEBI

Registered Investment Advisors (RIAs) to use recognized Stock Exchange

infrastructure to purchase/redeem units directly from Mutual Fund/AMC on

behalf of their clients.

MF Distributor registered with AMFI or RIAs, will be eligible to use NMF-II

platform of NSE (in addition to other intermediaries) and / or of BSE StAR MF

of BSE to purchase and redeem units of schemes of the Fund.

In addition to the guidelines specified for transacting through MFSS/BSE StAR

MF Platform above, following guidelines shall be applicable for transactions

executed through MF Distributors/ RIAs on NMF-II / BSE StAR MF Platform:

1. MF distributors/RIAs shall not handle pay out/pay in of funds as well as

units on behalf of investor. Pay in will be directly received by recognized

clearing corporation and payout will be directly made to investor

account. In the same manner, units shall be credited and debited

directly from the demat account of investors.

2. Transactions only in physical (non-demat) transactions will be permitted

through NMF-II / BSE StAR MF.

The facility of transacting in mutual fund schemes through stock exchange

infrastructure is available subject to such operating guidelines, terms and

conditions as may be prescribed by the respective Stock Exchanges from

time to time.

ONLINE TRANSACTIONS

Axis Mutual Fund will allow Transactions including by way of Lumpsum

Purchase/ Redemption / Switch of Units by electronic mode through the

AMC web –site/Mobile Application. The Subscription proceeds, when

invested through this mode, are by way of direct debits to the designated

bank through payment gateway. The Redemption proceeds, (subject to

deduction of tax at source, if any) through this mode, are directly credited

to the bank account of the Investors who have an account at the

designated banks with whom the AMC has made arrangements from time

to time or through NEFT/RTGS or through cheque/Payorder/Demand draft

issuance. The AMC will have right to modify the procedure of transaction

processing without any prior intimation to the Investor.

Investment amount through this facility may be restricted by the AMC from

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Axis Fixed Term Plan - Series 120 (91 Days)

time to time in line with prudent risk management requirements and to

protect the overall interest of the Investors.

For details of the facility, investors are requested to refer to the website of

the AMC.

Transactions through electronic platform(s) of KFin Technologies Ltd.

Investors will be allowed to transact through https://mfs.kfintech.com/mfs/,

an electronic platform provided by M/s. KFin Technologies Ltd., Registrar &

Transfer Agent, in Schemes of Axis Mutual Fund (‘Fund’) (except Exchange

Traded Funds). The facility will also be available through mobile application

of KFin Technologies Ltd.

The uniform cut off time as prescribed under the SEBI (Mutual Funds)

Regulations, 1996 and as mentioned in SID and KIM of the Scheme will be

applicable for transactions received through the above electronic platform

and the time of receipt of transaction recorded on the server(s) of KFin

Technologies Ltd. will be reckoned as the time for the purpose of

determining applicability of NAV, subject to credit of funds to bank

account of scheme, wherever applicable.

The facility is subject to operating guidelines, terms and conditions as may

be prescribed by KFin Technologies Ltd. or as may be specified by Axis

Asset Management Company Ltd. from time to time. For operating

guidelines and terms and conditions, investors are requested to visit

https://mfs.kfintech.com/mfs/.

Time of receipt of transaction recorded on the server(s) of KFin

Technologies Ltd. will continue to be reckoned for electronic transactions

received through AMC website/ Distributor website/ applications etc

subject to credit of funds to bank account of scheme, wherever

applicable.

Income Distribution

cum Capital

Withdrawal (IDCW)

Payment of IDCW shall be made to the unitholders within seven (7) working

days from the record date or such time as stipulated in the Regulations, the

Unit Holder shall be paid interest @15% p.a. or as specified by SEBI for the

delayed period and the interest shall be borne by the AMC.

The proceeds will be paid by way of EFT / NEFT / RTGS / Direct credits/ any

other electronic manner if sufficient banking details are available with the

Mutual Fund for the Investor.

In case of specific request for IDCW by warrants/cheques/demand drafts or

unavailability of sufficient details with the Mutual Fund, the IDCW will be

paid by warrant/cheques/demand drafts and payments will be made in

favour of the Unit holder (registered holder of the Units or, if there are more

than one registered holder, only to the first registered holder) with bank

account number furnished to the Mutual Fund (please note that it is

mandatory for the Unit holders to provide the Bank account details as per

the directives of SEBI).

Further, based on the list provided by the Depositories (NSDL/ CDSL) giving

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Axis Fixed Term Plan - Series 120 (91 Days)

the details of the demat account holders and the number of Units held by

them in electronic form on the Record date, the Registrars & Transfer Agent

will pay the IDCW proceeds by forwarding a IDCW warrant/Demand Draft/

Cheque or directly crediting the bank account linked to the demat

account depending on the mode of receipt of IDCW proceeds chosen by

the Unit holder.

Redemption

As the Scheme is closed ended scheme, investors will not be able to

redeem their units during the tenor of the scheme. Units under the scheme

will be compulsorily and without any further act by the Unit holder(s)

redeemed on the Maturity Date of the scheme. The redemption proceeds

shall be dispatched to the unit holders within three (3) working days from

the Maturity Date of the scheme.

Procedure for payment of redemption.

1. Resident Investors

Redemption proceeds will be paid to the investor through Real Time Gross

Settlement (RTGS), NEFT, Direct Credit, Cheque or Demand Draft.

a) If investor has provided IFSC code in the application form, by default

redemption proceeds shall be credited to Investor’s account through

RTGS/NEFT.

b) If Investor has neither provided IFSC code nor the NEFT code but have a

bank account with Banks with whom the Fund would has an

arrangement for Direct Credit from time to time, the proceeds will be

paid through direct credit.

c) Incase if investor bank account does not fall in the above a to b

categories, redemption proceeds will be paid by cheques/demand

drafts, marked "Account Payee only" and drawn in the name of the sole

holder / first-named holder (as determined by the records of the

Registrar).

The bank name and bank account number, as specified in the

Registrar's records, will be mentioned in the cheque/demand draft. The

cheque will be payable at par at all bank branch or specific cities. If

the Unit Holder resides in any other city, he will be paid by a demand

draft payable at the city of his residence and the demand draft

charges shall be borne by the AMC (please refer SAI for details).

The redemption proceeds will be sent by courier or (if the addressee

city is not serviced by the courier) by registered post/UCP. The dispatch

for the purpose of delivery through the courier / postal department, as

the case may be, shall be treated as delivery to the investor. The AMC /

Registrar are not responsible for any delayed delivery or non-delivery or

any consequences thereof, if the dispatch has been made correctly as

stated in this paragraph.

The AMC reserves the right to change the sequence of payment from

(a) to (c) without any prior notice

For Unit holders who have given specific request for Cheque/ Demand

Draft Redemption proceeds will be paid by cheque/ demand drafts and

payments will be made in favour of the Unit holder with bank account

number furnished to the Mutual Fund

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Axis Fixed Term Plan - Series 120 (91 Days)

(Please note that it is mandatory for the Unit holders to provide the Bank

account details as per the directives of SEBI). Redemption cheques will be

sent to the Unit holder’s address.

The Mutual Fund will dispatch the redemption proceeds within 3 working

Days from the date of maturity. If the payment is not made within the

period stipulated in the Regulations, the Unit Holder shall be paid interest

@15% p.a. or as specified by SEBI for the delayed period and the interest

shall be borne by the AMC.

The Trustee, at its discretion at a later date, may choose to alter or add

other modes of payment.

Further, based on the list provided by the Depositories (NSDL/ CDSL) giving

the details of the demat account holders and the number of Units held by

them in electronic form on the Record date fixed for redemption of Units on

the Maturity date, the Registrars & Transfer Agent will pay the redemption

proceeds by forwarding a cheque or directly crediting the bank account

linked to the demat account depending on the mode of receipt of

redemption proceeds chosen by the Unit holder.

1. Non-Resident Investors/PIO/OCI

For NRIs, Redemption proceeds will be remitted depending upon the

source of investment as follows:

(i) Repatriation basis

When Units have been purchased through remittance in foreign exchange

from abroad or by cheque / draft issued from proceeds of the Unit Holder's

FCNR deposit or from funds held in the Unit Holder's Non Resident (External)

account kept in India, the proceeds can also be sent to his Indian address

for crediting to his NRE / FCNR / non-resident (Ordinary) account, if desired

by the Unit Holder.

(ii) Non-Repatriation basis

When Units have been purchased from funds held in the Unit Holder's non-

resident (Ordinary) account, the proceeds will be sent to the Unit Holder's

Indian address for crediting to the Unit Holder's non-resident (Ordinary)

account.

(iii) FPI

For FPIs, the designated branch of the authorized dealer may allow

remittance of net sale / maturity proceeds (after payment of taxes) or

credit the amount to the Foreign Currency account or Non-resident Rupee

account of the FPI maintained in accordance with the approval granted to

it by the RBI.

The Fund will not be liable for any delays or for any loss on account of any

exchange fluctuations, while converting the rupee amount in foreign

exchange in the case of transactions with NRIs / FPIs. The Fund may make

other arrangements for effecting payment of redemption proceeds in

future.

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Axis Fixed Term Plan - Series 120 (91 Days)

The normal processing time may not be applicable in situations where

necessary details are not provided by investors/Unit holders. The AMC will

not be responsible for any loss arising out of fraudulent encashment of

cheques and/or any delay/loss in transit.

Important Note: All applicants must provide a bank name, bank account

number, branch address, and account type in the Application Form.

Unclaimed Redemptions and IDCW

The unclaimed Redemption and IDCW amounts shall be deployed by the

Fund in money market instruments and such other instruments/securities as

maybe permitted from time to time. The investment management fee

charged by the AMC for managing such unclaimed amounts shall not

exceed 50 basis points. The circular also specifies that investors who claim

these amounts during a period of three years from the due date shall be

paid at the prevailing NAV. Thus, after a period of three years, this amount

can be transferred to a pool account and the investors can claim the said

amounts at the NAV prevailing at the end of the third year. In terms of the

circular, the onus is on the AMC to make a continuous effort to remind

investors through letters to take their unclaimed amounts. The details of

such unclaimed amounts shall be disclosed in the annual report sent to the

Unit Holders.

Further, according to circular no. SEBI/HO/IMD/DF2/CIR/P/ 2016/37 dated

February 25, 2016 read with July 30, 2021 as amended from time to time the

unclaimed Redemption and IDCW amounts may be deployed in separate

plan of Overnight scheme/Liquid scheme/Money market mutual fund

scheme floated by Mutual Funds specifically for deployment of the

unclaimed Redemption and IDCW amounts.

Delay in payment of

Redemption /

Repurchase proceeds

The AMC shall be liable to pay interest to the Unit holders at 15% or such

other rate as may be prescribed by SEBI from time to time, in case the

proceeds are not paid within 3 working Days of the date of Maturity.

However, the AMC will not be liable to pay any interest or compensation or

any amount otherwise, in case the AMC / Trustee is required to obtain from

the Investor / Unit holders verification of identity or such other details

relating to Subscription for Units under any applicable law or as may be

requested by a Regulatory Agency or any government authority, which

may result in delay in processing.

C. PERIODIC DISCLOSURES

Net Asset Value

This is the value per

unit of the scheme

on a particular day.

You can ascertain

the value of your

investments by

multiplying the NAV

with your unit

balance.

The AMC will calculate and disclose the first NAV of the Scheme within a

period of 5 business days from the date of allotment. Subsequently, the

NAVs will be calculated and disclosed on all the Business Days. The AMC

shall update the NAVs on the website of the Association of Mutual Funds

in India - AMFI (www.amfiindia.com) before 11.00 p.m. on every Business

Day and shall also update the NAVs on the website of AMC

(www.axismf.com) for a given business day. If the NAVs are not

available before the commencement of Business Hours on the following

day due to any reason, the Mutual Fund shall issue a press release giving

reasons and explaining when the Mutual Fund would be able to publish

the NAV.

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Axis Fixed Term Plan - Series 120 (91 Days)

Information regarding NAV can be obtained by the Unit holders /

Investors by calling or visiting the nearest ISC.

Fortnightly/Monthly/

Half yearly

Disclosures: Portfolio

/ Financial Results

This is a list of

securities where the

corpus of the

Scheme is currently

invested. The market

value of these

investments is also

stated in portfolio

disclosures.

The AMC will disclose the portfolio of the Scheme (along with ISIN) on

fortnightly, monthly and half yearly basis on the website of the Mutual

Fund and AMFI within 5 days of every fortnight, 10 days from close of

each month and within 10 days from the close of each half year (i.e. 31

March and 30th September) respectively in a user-friendly and

downloadable spreadsheet format. Further, AMC shall publish an

advertisement in an all India edition of one national English daily

newspaper and one Hindi newspaper, every half year, disclosing the

hosting of the half-yearly statement of its schemes’ portfolio on the

website of the Mutual Fund and AMFI and the modes through which

unitholder(s) can submit a request for a physical or electronic copy of

the statement of scheme portfolio.

The AMC will also provide a dashboard, in a comparable,

downloadable (spreadsheet) and machine readable format, providing

performance and key disclosures like Scheme’s AUM, investment

objective, expense ratios, portfolio details, scheme’s past performance

etc. on website.

Half Yearly Results

The Mutual Fund shall within one month from the close of each half

year, that is on 31st March and on 30th September, host a soft copy of

its unaudited financial results on their website.

The mutual fund shall publish an advertisement disclosing the hosting of

such financial results on their website, in atleast one English daily

newspaper having nationwide circulation and in a newspaper having

wide circulation published in the language of the region where the

Head Office of the Mutual Fund is situated.

The unaudited financial results will also be displayed on the website of

the AMC and AMFI.

Annual Report

The Scheme wise annual report or an abridged summary thereof shall

be e-mailed to the registered e-mail address of the unitholders not later

than four months (or such other period as may be specified by SEBI from

time to time) from the date of closure of the relevant accounting year

(i.e. 31st March each year). AMC shall provide physical copy of the

abridged summary of annual report, without charging any cost, on

specific request received from a unitholder. Full annual report shall be

available for inspection at the Head Office of the Mutual Fund and a

copy shall be made available to the Unit holders on request on

payment of nominal fees, if any. Scheme wise annual report shall also

be displayed on the website of the AMC (www.axismf.com) and

Association of Mutual Funds in India (www.amfiindia.com).

Mutual Fund shall also publish an advertisement every year, in an all

India edition of one national English daily newspaper and in one Hindi

newspaper, disclosing the hosting of the scheme wise annual report on

the website of the Mutual Fund and AMFI and the modes through which

a unitholder can submit a request for a physical or electronic copy of

the annual report or abridged summary thereof.

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Axis Fixed Term Plan - Series 120 (91 Days)

Riskometer

The AMC shall review Riskometers on a monthly basis based on

evaluation of risk level of Scheme’s month end portfolios. Changes in

Riskometers, if any, shall be communicated by way of Notice cum

Addendum. Investors may also refer to the website/portfolio disclosure

for the latest Riskometers.

Scheme Summary

document

The AMC has provided on its website Scheme summary document

which is a standalone scheme document for all the Schemes which

contains all the details of the Scheme viz. Scheme features, Fund

Manager details, investment details, investment objective, expense

ratios, portfolio details, etc.

Disclosure of

Potential Risk Class

(PRC) Matrix

Pursuant to the provisions of Para 17.5 of Master Circular for Mutual

Funds, all debt schemes are required to be classified in terms of a

Potential Risk Class matrix consisting of parameters based on maximum

interest rate risk (measured by Macaulay Duration (MD) of the scheme)

and maximum credit risk (measured by Credit Risk Value (CRV) of the

scheme). Mutual Funds are required to disclose the PRC matrix (i.e.

maximum risk that a fund manager can take in a Scheme) along with

the mark for the cell in which the Scheme resides on the front page of

initial offering application form, SID, KIM, common application form and

scheme advertisements in the manner as prescribed in the said circular.

The scheme would have the flexibility to take interest rate risk and credit

risk below the maximum risk as stated in the PRC matrix. Subsequently,

once a PRC cell selection is done by the Scheme, any change in the

positioning of the Scheme into a cell resulting in a risk (in terms of credit

risk or duration risk) which is higher than the maximum risk specified for

the chosen PRC cell, shall be considered as a fundamental attribute

change of the Scheme in terms of Regulation 18(15A) of SEBI (Mutual

Fund) Regulations, 1996.

The Mutual Funds shall be required to inform the unitholders about the

PRC classification and subsequent changes, if any, through SMS and by

providing a link on their website referring to the said change.

The Mutual Fund/ AMC shall also publish the PRC Matrix in the scheme

wise Annual Reports and Abridged summary.

Further as stated in Para 3.5 of Master Circular for Mutual Funds the

positioning of the Index Fund in the Potential Risk Class (PRC) matrix shall

be in the same cell as that of positioning of the index in the PRC matrix.

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Axis Fixed Term Plan - Series 120 (91 Days)

Taxation

Rates applicable for

the FY 23-24.

The information is provided for general information only. However, in

view of the individual nature of the implications, each investor is advised

to consult his or her own tax advisors / authorised dealers with respect to

the specific amount of tax and other implications arising out of his or her

participation in the schemes.

Note –

1. Axis Mutual Fund is a Mutual Fund registered with the Securities &

Exchange Board of India and hence the entire income of the

Mutual Fund will be exempt from income tax in accordance with

the provisions of section 10(23D) of the Act.

2. Surcharge at the following rate to be levied in case of individual /

HUF/ non-corporate non-firm unit holders:

Income

Individual

/ HUF /

non-

corporate

non-firm

unit

holders

(a) Above Rs 50 lakh upto Rs 1 crore (including

dividend income and capital gains income under

10%

Particulars

Taxability in the hands of Individuals / Non-

corporates / Corporates

Resident

Non-Resident

Tax on distributed

income (dividend

income)

Taxed in the hands of

unitholders at

applicable rate

under the provisions

of the Income-tax

Act, 1961 (Act)

Taxed in the hands of

unitholders at the

rate of 20% u/s 115A/

115AD of the Act

(plus applicable

surcharge and

health and

education cess)

Capital Gains on

Specified Mutual

Funds irrespective of

period of holding

(Refer Note 6)

Will be taxed at the

normal rates

depending upon the

slab of each

individual

(plus applicable

surcharge and

health and

education cess)

Will be taxed at the

normal rates

depending upon the

slab of each

individual

(40% in case of

Foreign companies)

(plus applicable

surcharge and

health and

education cess)

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Axis Fixed Term Plan - Series 120 (91 Days)

section 111A, 112 and 112A of the Act)

(b) Above Rs 1 crore upto Rs 2 crores (including

dividend income and capital gains income under

section 111A, 112 and 112A of the Act)

15%

dividend income (dividend received from

domestic companies only) and capital gains

income under section 111A, 112 and 112A of the

Act]

25%

(d) Above Rs 5 crores [excluding dividend

income (dividend received from domestic

companies only) and capital gains income under

section 111A, 112 and 112A of the Act)

37%

(e) Above Rs 2 crores [including dividend income

(dividend received from domestic companies

only) and capital gains income under section

111A, 112 and 112A of the Act)] but not covered

in point (c) and (d) above

15%

Surcharge rate shall not exceed 25% in case of individual and HUF

opting for new tax regime under section 115BAC of the Act.

3. Surcharge rates for Companies

Total Income

Rate of Surcharge

for Domestic

companies

Rate of

Surcharge for

Foreign

Companies

Above Rs 1 crore upto

Rs 10 crores

Above Rs 10 crores

12%

Surcharge rate shall be 10% in case resident companies opting

taxation under section 115BAA and section 115BAB on any income

earned.

In case of firm with total income exceeding Rs.1 crore, surcharge

rate shall be 12%.

4. Health and Education cess @ 4% on aggregate of base tax and

surcharge.

5. Withholding of Taxation by Mutual Fund will as per applicable

withholding tax rate.

6. All the above non-resident investors may also claim the tax treaty

benefits available, if any.

For further details on taxation please refer to the clause on Taxation in

the SAI.

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Axis Fixed Term Plan - Series 120 (91 Days)

Stamp Duty

Pursuant to Notification No. S.O. 1226(E) and G.S.R. 226(E) dated March

30, 2020 issued by Department of Revenue, Ministry of Finance,

Government of India, read with Part I of Chapter IV of Notification

dated February 21, 2019 issued by Legislative Department, Ministry of

Law and Justice, Government of India on the Finance Act, 2019, stamp

duty @0.005% of the transaction value would be levied on applicable

mutual fund transactions.

Accordingly, pursuant to levy of stamp duty, the number of units allotted

on purchase transactions (including IDCW reinvestment) to the

unitholders would be reduced to that extent.

Investor services

Investors can lodge any service request or complaints or enquire about

NAVs, Unit Holdings, IDCW, etc. by calling the Investor line of the AMC at

from 8.00 am to 8.00 pm (Monday to Friday) and 9.00 am to 6.00 pm (on

Saturday and Sunday) or 022 – 4325 5100 (at local call rate for enquiring

at AMC ISC’s) or additional contact number 8108622211(Chargeable)

or email - customerservice@axismf.com. The service representatives

may require personal information of the Investor for verification of his /

her identity in order to protect confidentiality of information. The AMC

will at all times endeavour to handle transactions efficiently and to

resolve any Investor grievances promptly.

Any complaints should be addressed to Mr. C P Shivkumar who has

been appointed as the Investor Relations Officer and can be

contacted at:

Address:

Axis Asset Management Company Ltd.

"Axis House", 1st Floor, C-2, Wadia International Centre, Pandurang

Budhkar Marg, Worli, Mumbai – 400025.

Phone no.: 022 - 4325 4123

For any grievances with respect to transactions through BSE StAR and /

or NSE MFSS, the investors / Unit Holders should approach either the

stock broker or the investor grievance cell of the respective stock

exchange.

D. COMPUTATION OF NAV

The Net Asset Value (NAV) per Unit under the Scheme will be computed by dividing the net

assets of the scheme by the number of Units outstanding on the valuation day. The Mutual

Fund will value its investments according to the valuation norms, as specified in Schedule VIII

of the SEBI (MF) Regulations, or such norms as may be specified by SEBI from time to time.

The Net Assets Value (NAV) of the Units under the scheme shall be calculated as shown

below:

NAV (Rs.) =

Market or Fair Value

of Scheme’s

Investments

Current Assets including

Accrued Income

Current Liabilities

and Provisions

No. of Units outstanding under Scheme on the Valuation Day

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Axis Fixed Term Plan - Series 120 (91 Days)

The NAV shall be calculated up to four decimal places. However, the AMC reserves the right

to declare the NAVs up to additional decimal places as it deems appropriate. Separate NAV

will be calculated and disclosed for each Plan//Option. The NAVs of the Growth and the

IDCW Options under each plans/ series under the Scheme(s) viz. Axis Fixed Term Plan - Series

120 (91 Days) will be different after the declaration of the first IDCW.

The AMC will calculate and disclose the first NAV of scheme within a period of 5 business

days from the date of allotment. Subsequently, the NAVs will be calculated and disclosed on

all the Business Days.

The scheme will be managed as a separate investment portfolio. Separate NAV will be

calculated and announced for each of the plans and Options (viz. Regular Plan, Direct Plan,

Growth, IDCW, Quarterly IDCW) under the series of the scheme(s) at the close of every

Business Day.

Illustration of Computation of NAV:

The computation of NAV per unit using various components is explained as follows:

Particulars

Amount in Rs

Market or Fair Value of Scheme’s Investments ......(A)

10,00,00,000.00

Add: Current Assets including Accrued Income .... (B)

75,34,345.00

Less: Current Liabilities and Provisions..............(C)

(30,00,000.00)

Net Assets (A+B-C)

10,45,34,345.00

No. of Units outstanding under Scheme on the Valuation Day: 10,00,000

The NAV per unit will be computed as follows: 10,45,34,345.34 / 10,00,000 = Rs. 10.4534 per unit

(rounded off to four decimals)

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Axis Fixed Term Plan - Series 120 (91 Days)

IV. FEES AND EXPENSES

This section outlines the expenses that will be charged to the Schemes.

A. NEW FUND OFFER (NFO) EXPENSES

These expenses are incurred for the purpose of various activities related to the NFO like sales

and distribution fees paid marketing and advertising, registrar expenses, printing and

stationary, bank charges etc.

In accordance with the provisions of SEBI circular no. SEBI/ IMD/CIR No. 1/64057/06 dated

April 04, 2006 and SEBI/IMD/CIR No. 4/ 168230/09 dated June 30, 2009, the NFO expenses shall

be borne by the AMC.

B. ANNUAL SCHEME RECURRING EXPENSES

These are the fees and expenses for operating the Scheme. These expenses include

Investment Management and Advisory Fee charged by the AMC, Registrar and Transfer

Agents’ fee, marketing and selling costs etc. as given in the table below:

The AMC has estimated that upto 1.00% of the daily net assets of the Scheme will be

charged to the Scheme as expenses. For the actual current expenses being charged, the

investor should refer to the website of the AMC.

Expense Head

% of daily

Net Assets

Investment Management and Advisory Fees

Upto 1.00%

Trustee fees

Audit fees

Custodian fees

RTA fees

Marketing & Selling expense incl. agent commission**

Cost related to investor communications

Cost of fund transfer from location to location

Cost of providing account statements and IDCW redemption cheques and

warrants

Costs of statutory Advertisements

Cost towards investor education & awareness (at least 2 bps)

Brokerage & transaction cost over and above 12 bps and 5 bps for cash and

derivative market trades resp.

Goods & Service Tax (GST) on expenses other than investment and advisory

fees

GST on brokerage and transaction cost (over & above 12bps and 5bps limit

mentioned above)

Other Expenses

Maximum total expense ratio (TER) permissible under Regulation 52(6)(d)(ii)

Upto 1.00%

Additional expenses for gross new inflows from specified cities under

regulation 52(6A)(b)

Upto 0.30%

Any other expenses which are directly attributable to the Scheme may be charged with the

approval of the Trustee within the overall limits as specified in the Regulations except those

expenses which are specifically prohibited.

All fees and expenses charged in a Direct Plan (in percentage terms) under various heads

including the investment and advisory fee shall not exceed the fees and expenses charged

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Axis Fixed Term Plan - Series 120 (91 Days)

under such heads in other than Direct Plan. **Direct Plan shall have a lower expense ratio

excluding distribution expenses, commission, etc. and no commission for distribution of Units

will be paid / charged under Direct Plan.

The expenses towards Investment Management and Advisory Fees under Regulation 52 (2)

and the various sub-heads of recurring expenses mentioned under Regulation 52 (4) of SEBI

(MF) Regulations can be apportioned under various expense heads/ sub heads without any

sub limit, as permitted under the applicable regulations. Thus, there shall be no internal sub-

limits within the expense ratio for expense heads mentioned under Regulation 52 (2) and (4)

respectively.

These estimates have been made in good faith as per the information available to the

Investment Manager and are subject to change inter-se or in total subject to prevailing

Regulations.

The AMC will charge the Scheme such actual expenses incurred, subject to the statutory limit

prescribed in the Regulations.

The recurring expenses of the Scheme (including the Investment Management and Advisory

Fees) shall be as per the limits prescribed under the SEBI (MF) Regulations.

The total expenses of the Scheme including the investment management and advisory fee

shall not exceed the limit stated in Regulation 52(6) of the SEBI (MF) Regulations and

amendments thereto.

Expenses charged to the Scheme:

A. In addition to the limits as specified in Regulation 52(6) of SEBI MF Regulations or the Total

Recurring Expenses (Total Expense Limit) as specified above, the following costs or

expenses may be charged to the Scheme namely-

Additional expenses for gross new inflows from specified cities

a) expenses not exceeding of 0.30 per cent of daily net assets, if the new inflows from such

cities as specified by SEBI/AMFI from time to time are at least -

i. 30 per cent of gross new inflows in the Scheme, or;

ii. 15 per cent of the average assets under management (year to date) of the Scheme,

whichever is higher:

Provided that if inflows from such cities is less than the higher of sub-clause (i) or sub- clause

(ii), such expenses on daily net assets of the Scheme shall be charged on proportionate basis.

Provided further that, expenses charged under this clause shall be utilised for distribution

expenses incurred for bringing inflows from such cities.

Provided further that amount incurred as expense on account of inflows from such cities shall

be credited back to the Scheme in case the said inflows are redeemed within a period of

one year from the date of investment.

Note: Pursuant to SEBI letter dated February 24, 2023 read with AMFI communication dated

March 02, 2023, w.e.f March 01, 2023 no additional expense shall be charged on the new

inflows received on or after March 01, 2023 from specified cities as per Regulation 52 (6A) (b)

till any further guidance is received from SEBI in this regard.

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Axis Fixed Term Plan - Series 120 (91 Days)

This sub clause (a) shall be applicable for inflows received during the NFO period.

b) GST payable on investment and advisory service fees (‘AMC fees’) charged by Axis Asset

Management Company Ltd.;

Brokerage and transaction cost incurred for the purpose of execution shall be charged to the

schemes as provided under Regulation 52 (6A) (a) upto 12 bps and 5 bps for cash market

transactions and derivatives transactions respectively. Any payment towards brokerage &

transaction costs, over and above the said 12 bps and 5 bps for cash market transactions

and derivatives transactions respectively within the maximum limit of Total Expense Ratio

(TER) as prescribed under Regulation 52 of the Regulations

B. Within the Total Expense Limit chargeable to the scheme, following will be charged to the

Scheme:

(a) GST on other than investment and advisory fees, if any, (including on brokerage and

transaction costs on execution of trades) shall be borne by the Scheme

(b) Investor education and awareness initiative fees of at least 2 basis points on daily net

assets of respective Scheme.

C. AMC fees charged by Axis AMC to the scheme will be within the Total Expense Limit as

prescribed by SEBI Regulations, as amended from time to time.

Expenses over and above the prescribed limit shall be charged / borne in accordance with

the Regulations prevailing from time to time.

The mutual fund shall update the notice of change in base TER on its website

(www.axismf.com) atleast three working days prior to the effective date of the change.

Investors can refer ‘Total Expense Ratio of Mutual Fund Schemes’ section on

https://www.axismf.com/total-expense-ratio for Total Expense Ratio (TER) details.

Illustration of impact of expense ratio on scheme’s returns.

For any scheme, NAV is computed on a daily basis factoring in all the assets as well as

liabilities of the Scheme (including expenses charged). Expenses charged to the Scheme

bring down its NAV and hence the investor's net returns on a corresponding basis.

Illustration for Regular Plan:

Particulars

Amount

(in Rs.)

No of units

NAV per unit

(in Rs.)

Invested on March 31, 2021 (A)

10,000

1,000

10.00

Value of above investment as on March 31, 2022 (gross of

all expenses) (B)

11,500

1,000

11.50

Total Expenses charged during the year @1% p.a.

(assumed) ( C )

100

0.10

Value of above investment as on March 31, 2021 (net of all

expenses) (D) = (B-C)

11,400

1,000

11.40

Returns (%) (gross of all applicable expenses) (E) = ((B/A)-1)

15.0%

Returns (%) (net of all applicable expenses) (F) = ((D/A)-1)

14.0%

*Expenses are computed on daily average assets of the scheme

Effect of STT on transactions in mutual funds is not factored into this illustration.

- 86 -

Axis Fixed Term Plan - Series 120 (91 Days)

Illustration for Direct Plan

Particulars

Amount

(in Rs.)

No of units

NAV per unit

(in Rs.)

Invested on March 31, 2021 (A)

10,000

1,000

10.00

Value of above investment as on March 31, 2022 (gross of

all expenses) (B)

11,500

1,000

11.50

Total Expenses charged during the year @0.5% p.a.*

(assumed) ( C )

0.05

Value of above investment as on March 31, 2021 (net of all

expenses) (D) = (B-C)

11,446

1,000

11.45

Returns (%) (gross of all applicable expenses) (E) = ((B/A)-1)

15.0%

Returns (%) (net of all applicable expenses) (F) = ((D/A)-1)

14.5%

*Expenses are computed on daily average assets of the scheme

Effect of STT on transactions in mutual funds is not factored into this illustration.

Please Note:

• The purpose of the above illustration is purely to explain the impact of expense ratio

charged to the Scheme, The Total Expenses considered in the illustration is an

hypothetical number and the actual expense may vary from the same. The illustration

should not be construed as providing any kind of investment advice or guarantee of

returns on investments.

• It is assumed that the expenses charged are evenly distributed throughout the year. The

expenses of the Direct Plan under the Scheme may vary with that of the Regular Plan

under the Scheme.

• Calculations are based on assumed NAVs, and actual returns on your investment may be

more, or less.

• Any tax impact has not been considered in the above example, in view of the individual

nature of the tax implications. Each investor is advised to consult his or her own financial

advisor.

C. LOAD STRUCTURE

Load is an amount which is presently paid by the investor to redeem the Units from the

Scheme. This amount is used by the AMC to pay commission to the distributors and to take

care of other marketing and selling expenses. Load amounts are variable and are subject to

change from time to time.

Para 10.4 of Master Circular for Mutual Funds has decided that there shall be no Entry Load

for all Mutual Fund schemes.

Type of Load

Load chargeable (as %age of NAV)

Entry Load

Not applicable

Exit Load

Nil

Being a closed ended scheme, Units under the Scheme cannot be redeemed directly with

the Fund until the Maturity Date. Scheme will have a Maturity Date. Scheme will be

compulsorily and without any further act by the Unit holder(s) redeemed on the Maturity

Date. On the Maturity Date of the Scheme, the Units under the Scheme will be redeemed at

the Applicable NAV. No Exit Load will be levied on the Maturity Date.

- 87 -

Axis Fixed Term Plan - Series 120 (91 Days)

The Units of the Scheme will be listed on the capital market segment of the BSE and/ or any

other Stock Exchange. The Scheme does not allow fresh subscription / redemption during the

tenure of the scheme and redemptions are permitted only on Maturity Date. Accordingly,

provisions with respect to imposition or enhancement of load in future on a prospective basis

are not applicable.

Transaction charge:

In terms of Para 10.5 of Master Circular of Mutual Funds, as amended from time to time,

Transaction Charge per subscription of Rs.10, 000/ – and above shall be charged from the

investors and shall be payable to the distributors/ brokers (who have opted in for charging

the transaction charge) in respect of applications routed through distributor/ broker relating

to Purchases / subscription / new inflows only (lump sum). The transaction charge (based on

the type of the product), if any shall be deducted by AMC from the subscription amount and

paid to the distributor; and the balance shall be invested and accordingly units allotted. The

statement of account shall clearly state the net investment as gross subscription less

transaction charge. The charge is, subject to the following:

• For Existing / New investors: Rs.100 / Rs.150 as applicable per subscription of 10,000/ –

and above

• There shall be no transaction charge on subscription below Rs. 10,000/-.

• There shall be no transaction charges on direct investments.

• There shall be no transaction charges for transaction other than

purchases/subscriptions relating to new inflows such as Switches, etc.

• Transactions carried out through the Stock Exchange platforms for mutual funds shall

not be subject to transaction charges.

Further, the Investors are requested to note that the requirement of Minimum Application

Amount for investment shall not be applicable if the investment amount falls below the

minimum requirement due to deduction of Transaction Charge from the subscription

amount.

The Transaction Charge as mentioned above shall be deducted by the AMC from the

subscription amount of the unit holder and paid to the distributor. The balance amount shall

be invested in the Scheme.

D. WAIVER OF LOAD FOR DIRECT APPLICATIONS

Not applicable

- 88 -

Axis Fixed Term Plan - Series 120 (91 Days)

V. RIGHTS OF UNITHOLDERS

Please refer to SAI for details.

- 89 -

Axis Fixed Term Plan - Series 120 (91 Days)

VI. PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR

INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF BEING

TAKEN BY ANY REGULATORY AUTHORITY

This section shall contain the details of penalties, pending litigation, and action taken by SEBI

and other regulatory and Govt. Agencies.

1. All disclosures regarding penalties and action(s) taken against foreign Sponsor(s) may be

limited to the jurisdiction of the country where the principal activities (in terms of income /

revenue) of the Sponsor(s) are carried out or where the headquarters of the Sponsor(s) is

situated. Further, only top 10 monetary penalties during the last three years shall be

disclosed.

Not Applicable

2. In case of Indian Sponsor(s), details of all monetary penalties imposed and/ or action

taken during the last three years or pending with any financial regulatory body or

governmental authority, against Sponsor(s) and/ or the AMC and/ or the Board of

Trustees /Trustee Company; for irregularities or for violations in the financial services sector,

or for defaults with respect to shareholders or debenture holders and depositors, or for

economic offences, or for violation of securities law. Details of settlement, if any, arrived

at with the aforesaid authorities during the last three years shall also be disclosed.

a. Reserve Bank of India has levied penalty of Rs. 5.001crore (Rs. Five crore ten thousand

only) on Axis Bank Ltd. in April 2013 for inadequacies seen in adherence to guidelines/

regulation pertaining to various areas of operations, including Know Your Customer (KYC)

norms / Anti-Money Laundering (AML) standards /Combating of Financing of Terrorism

(CFT)/Obligation of banks under PMLA, 2002, from time to time and under FEMA. The

penalty was imposed under section 47a (1)(c) read with section 46(4) of the Banking

Regulation Act, 1949 and under sub-section (3) of section 11 of FEMA on 8 counts. Sale of

gold/silver/platinum-payment in cash, bank finance for purchase of gold, transactions in

relation to which PAN or GIR number need to be quoted in all Documents etc. after

conducting a review of operations pursuant to sting operation carried out by an online

portal. The penalty of Rs. 5.001 crore (Rs. Five crore ten thousand only) has been paid by

Axis Bank Ltd. on June 6, 2013 to Reserve Bank of India.

b. National Securities Depository Limited (NSDL) observed that Axis Bank Ltd. had wrongly

captured PAN in three Demat accounts. NSDL has levied penalty of Rs.50/- per wrong

PAN details captured, totaling to Rs.150/- in the F.Y. 2012-13. This amount was duly paid.

c. National Securities Clearing Corporation Ltd (NSCCL) has levied a penalty of Rs.

40,507.81/- on Axis Bank Ltd. as clearing member for short client margin reporting in case

of one of the trading members. The Penalty was paid by Axis Bank in its capacity as

clearing member in February 2013.

d. Non-compliance with instructions issued by RBI on issuance and operation of Pre-Paid

Instruments (PPIs). RBI has levied penalty of Rs. Five lacs in August 2013, which has been

duly paid.

e. Reserve Bank of India has levied penalty of Rs. Fifteen lacs on Axis Bank Ltd. in July 2014

for deficiencies with respect to the loan account of M/s Deccan Chronicle Holdings Ltd.,

highlighting certain deficiencies in the credit delivery process. This amount has been paid.

f. Reserve Bank of India has levied penalty of Rs. Fifteen lacs on Axis Bank Ltd. in August

2014 for non-compliance of RBI guidelines on lending under consortium / multiple

banking arrangements.

- 90 -

Axis Fixed Term Plan - Series 120 (91 Days)

g. A showcause notice was issued to Axis Bank by RBI dated November 16, 2017 following a

statutory inspection which revealed violations of various regulations of the RBI in relation

to assessment of NPAs. After considering the response and oral submissions of Axis Bank,

the RBI found that the charges of non-compliance were substantiated and imposed a

monetary penalty of INR 3,00,00,000 (Rupees Three Crores Only) on March 5, 2018.

3. Details of all enforcement actions taken by SEBI in the last three years and/ or pending

with SEBI for the violation of SEBI Act, 1992 and Rules and Regulations framed there under

including debarment and/ or suspension and/ or cancellation and/ or imposition of

monetary penalty/adjudication/enquiry proceedings, if any, to which the Sponsor(s) and/

or the AMC and/ or the Board of Trustees /Trustee Company and/ or any of the directors

and/ or key personnel (especially the fund managers) of the AMC and Trustee Company

were/ are a party. The details of the violation shall also be disclosed.

SEBI has issued an ad interim ex parte order-cum-show-cause notice dated February 28,

2023 (“Interim Order”) against Viresh Joshi, former chief dealer and fund manager at Axis

Asset Management Company Limited (“Company”) and 20 other noticees (collectively

“Noticees”). Vide the Interim Order, SEBI has held that the Noticees had prima facie

indulged in front running of the trades of Axis Mutual Fund during the period from

September 1, 2021 to March 31, 2022 in violation of sections 12A(a), 12A(b), 12A(c) and

12A(e) of SEBI Act, 1992 (“SEBI Act”) and regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(q)

of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market)

Regulations, 2003.

Pursuant to sections 11, 11(4) and 11B(1) of SEBI Act read with section 19 of SEBI Act, SEBI

vide its Interim Order has inter alia (i) barred the Noticees from buying, selling, dealing or

associating themselves with the securities market, either directly or indirectly, in any

manner whatsoever; and (ii) ordered for impoundment of INR 30,55,89,668.96 jointly and

severally from the Noticees, being the prima facie total wrongful gain made from the

front running activities by the Noticees.

It is pertinent to note that none of Axis Mutual Fund, Axis Mutual Fund Trustee Limited, the

Company and their existing officers/ employees have been named as noticees in the

Interim Order, nor any directions have been passed against them by SEBI in such Interim

Order.

4. Any pending material civil or criminal litigation incidental to the business of the Mutual

Fund to which the Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee

Company and/ or any of the directors and/ or key personnel are a party should also be

disclosed separately.

Nil

5. Any deficiency in the systems and operations of the Sponsor(s) and/ or the AMC and/ or

the Board of Trustees/Trustee Company which SEBI has specifically advised to be

disclosed in the SID, or which has been notified by any other regulatory agency, shall be

disclosed.

Nil

The Scheme under this Scheme Information Document was approved by the Trustee

Company in the Board meeting dated July 17, 2023 Further, the Trustee granted its approval

for the listing the Units of the scheme in dematerialized form. It is ensured by the Trustee that

the Scheme has received in-principle approval for listing O/IPO/AH/MF/IP/28/2023-24 dated

- 91 -

Axis Fixed Term Plan - Series 120 (91 Days)

July 24, 2023 from Bombay Stock Exchange and that the appropriate disclosures pertaining

to listing of Units is made in this Scheme Information Document.

Notwithstanding anything contained in this Scheme Information Document, the provisions of

the SEBI (Mutual Funds) Regulations, 1996 and the guidelines there under shall be applicable.

for and on behalf of

Axis Asset Management Company Limited

Sd/-

Gop Kumar Bhaskaran

Managing Director & Chief Executive Officer

Date: January 10, 2024

Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act,

1882, sponsored by Axis Bank Ltd. (liability restricted to Rs. 1 Lakh). Trustee: Axis Mutual Fund

Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC). Risk Factors:

The sponsor is not liable or responsible for any loss or shortfall resulting from the operation of

the scheme. Mutual Fund investments are subject to market risks, read all scheme related

documents carefully.

- 92 -

Axis Fixed Term Plan - Series 120 (91 Days)

OFFICIAL POINTS OF ACCEPTANCE FOR NFO TRANSACTION

AXIS AMC OFFICE ADDRESSES

AHMEDABAD Axis Asset Management Company Limited, Mithakali Law Garden Road,

Ellisbridge, 3rd Floor, 302, Megha House, Opp. Kotak Bank, Ahmedabad - 380 006. AGRA: Axis

Asset Management Company Limited, Shop No. G-7, Ground Floor, Block-19/4, Sanjay Place,

Agra - 282 002. Amravati - Axis Asset Management Company Limited, Unit No 203, 2nd Floor,

Karwa Commercial, Irwin Square, Opposite Irwin Hospital, Amravati – 444602. Maharashtra.

Aurangabad - Axis Asset Management Company Limited. Shop no. C-30, 2nd Floor, Motiwala

trade center, Nirala Bazaar, Aurangabad – 431001. Anand – Axis Asset Management

Company Limited. 203, 2nd Floor, K Rose Building, Next to Dena Parivar Society, Anand

Vidhyanagar Road, Anand-388001. BANGALORE Axis Asset Management Co.Ltd. Ground F

loor, G-03 & G-03A, Prestige Meridian-1, No. 29, M.G. Road, Bangalore - 560 001 Jayanagar -

Bangalore Axis Asset Management Company Limited. Door No.8, Old No.152, First floor, 27th

Cross,6th Block, Opposite Ayyappa Swamy Temple, Jayanagar, Bangalore – 560082.

Belgaum: Axis Asset Management Company Limited. 2nd Floor, Shree Krishna Tower, Above

ICICI Bank, RPD Cross, Belgaum – 590006. Bharuch Axis Asset Management Company Limited

201, 2nd Floor, Nexus Business Hub, Above Dhiraj & Sons, Maktampur Road, Bharuch, Gujarat

– 392001. BHOPAL Axis Asset Management Company Limited. FL-02, Part 1, Ground Floor,

Sahara Homes, HIG 34, Shivaji Nagar, Near Jain Temple, Bhopal, Madhya Pradesh -462016.

Bhavnagar - Axis Asset Management Company Limited. S-3, 2nd Floor, Gangotri Plaza,Opp.

Dakshinamurti School, Waghawadi Road,Bhavnagar,364002 BHUBANESHWAR - Axis Asset

Management Company Limited. Premises No- 5, Ground Floor, Narula Complex, Janpath,

Kharavela Nagar, Bhubaneswar, Odisha, Pin – 751001 Bhuj - Axis Asset Management

Company Limited, Turning Point, 206, 2nd Floor, Near Laxmi Bakery, Opp. V D High School,

Bhuj-Kutch, Gujarat - 370001. Bilaspur Axis Asset Management Company Limited. 1st Floor,

Shriji Plaza, Sonchhatra Compound, Near Shiv Talkies Square, Bilaspur, Chhattisgarh - 495001,

India. BORIVALI Axis Asset Management Co. Ltd, Office No. 201, 2 Floor, REIS Magos, Ramdas

Sutrale Marg, Off. Chandavarkar Road, Borivali (West), Mumbai, Maharashtra - 400092.

CHANDIGARH Axis Asset Management Co.Ltd. 2

Floor, SCO No 2471, Sector 22C,

Chandigarh - 160022. Chhattisgarh Axis Asset Management Company Limited, 36/5 1st Block,

Ground Floor, Nehru Nagar East, Bhilai, Chhatisgarh-490 020. CHENNAI Axis Asset

Management Co. Ltd. 1st Floor , Door no. 168 Anna Salai , Opp. To Spencer Plaza , Chennai ,

Tamil Nadu - 600 002., COIMBATORE Axis Asset Management Company Limited, 1st Floor,

Shylaja Complex, 575 DB Road, R. S. Puram, Near Head Post Office, Coimbatore - 641 002.

DEHRADUN Axis Asset Management Co. Ltd., 59/3 First Floor, Rajpur Road, Above IDBI Bank,

Dehradun – 248001. Durgapur - Axis Asset Management Company Limited 2/2 2nd Floor,

Suhatta Mall, City Center, Durgapur-713216 FORT Axis Asset Management Company Limited,

1st Floor, City Ice Building, 298, Perin Nariman Street, Fort, Mumbai - 400 001. Gandhinagar -

Axis Asset Management Company Limited, Office No. 102, 1st Floor, Shalin Centrum, Plot No.

2, Sector 11, Gandhinagar, Gujarat – 382011. Gurugram - Axis Asset Management Company

Limited, Office No. 27, Ground Floor, Vipul Agora, MG Road, Gurugram, Haryana – 122001.

Gwalior – Axis Asset Management Company Limited 3rd Floor, Orion Tower, Plot No. 11, City

Centre, Gwalior – 474008 GUWAHATI Axis Asset Management Company Ltd.,Dihang Arcade,

2A, Second Floor, Opp Dona Planet,ABC, GS Road, Guwahati,Assam – 781005. HYDERABAD

Axis Asset Management Company Ltd, 2nd Floor, Nerella House, Panjagutta, Hyderabad -

500 082. HUBLI Axis Asset Management Company Limited. CTS No 479/1 CTS Ward no 1,

Ground Floor, SVB City Centre, Club Road, Hubli-580020. INDORE Axis Asset Management

Company Limited. 104/104A/105, 1st Floor, Mangalam Pearl, 633/B, New Palasia, Indore-

452010 M.P JAIPUR Axis Asset Management Company Ltd, 305, 3 Floor, Green House, Near

Ahinsa Circle, Ashok Marg, C Scheme, Jaipur - 302001.Rajasthan. Jalgaon - Axis Asset

- 93 -

Axis Fixed Term Plan - Series 120 (91 Days)

Management Company Limited Unit No.301, 3rd Floor, Trade Center, CTS 7067 Ring Road,

Jalgaon-425001, Maharashtra. JAMNAGAR - Axis Asset Management Company Limited.

Shop no 114-B, 1st floor Madhav square Building, Lal Bunglow, Limda Lane Corner, Jamnagar

361005. JAMMU - Axis Asset Management Company Limited Hall No. 112A, 1st Floor, North

Block, Bahu Plaza, Jammu-180011. JALANDHAR Axis Asset Management Co. Ltd , SCO 5-6, 1st

Floor, Puda Complex, Opp Suvidha Center, Ladowali Road, Jalandhar - 144 001 Jamshedpur

- Axis Asset Management Company Limited 1 G, Shanti Hari Abasan, Ground Floor, Inner

Circle Road, Bistupur,Jamshedpur-831001 Jodhpur - Axis Asset Management Company

Limited. Office No. 201, 2nd Floor PRM Plaza, Plot No. 947 10th D Road, Sardarpura. Jodhpur -

342003 KANPUR Axis Asset Management August Company Limited, 305-306, 3rd Floor, Civil

Lines, Kan Chamber, Kanpur – 208001. KOCHI Axis Asset Management Company Limited, 1st

Floor, Nappady Building, Opp: Kerala Water Authority, Pump House, Kathrikadav-Kaloor-

Kadavantra Road, Kaloor P.O, Ernakulam - 682017 KOLKATA Axis Asset Management

Company Ltd, Ground Floor, Kanak Building,41, Chowringhee Road Kolkata - 700071.

Kolhapur - Axis Asset Management Company Limited. Office No. S-4, 2nd Floor, Omkar Plaza,

Rajarampuri, Kolhapur – 416008. LUCKNOW Axis Asset Management Co. Ltd, Unit No 5, 6 & 7,

Halwasiya's Commerce House, 2nd Floor, Habibullah Estate, 11, M.G.Marg, Hazratganj,

Lucknow - 226001. LUDHIANA Axis Asset Management Co. Limited, SCO 29, Ground Floor,

Feroze Gandhi Market, Ludhiana-141001 Madurai - Axis Asset Management Company

Limited SEV Towers, 2 nd floor, 280, Good Shed Street, Madurai – 625001 Mangalore - Axis

Asset Management Company Limited C-5, 1st Floor, Essel Towers, Bunts hostel Circle,

Mangalore – 575003 MYSORE - Axis Asset Management Company Limited, CH-16 4th Main

5th Cross Prashanth Plaza, Saraswathi Puram, Land Mark - Safe Wheels and Spice Trip Near

JSS Women's, College, Mysore -570009. Meerut – Axis Asset Management Company Limited.

143/1 & 145/1, Ground Floor, Ganpati Plaza Mangal Pandey Nagar, Meerut , Uttar Pradesh-

250004 Moradabad - Axis Asset Management Company Limited. 2nd Floor, Krishna Complex

Near Hotel Rajmahal, Civil Lines Moradabad-Uttar Pradesh -244001 MUMBAI Axis Asset

Management Company Limited Axis House, First Floor, C-2, Wadia International Centre,

Pandurang Budhkar Marg, Worli, Mumbai - 400025. Mehsana Axis Asset Management

Company Limited, Shop No.3, 1st Floor, Sigma Oasis, Mehsana-Ahmedabad Highway, Near

Rajkamal Petrol Pump, Mehsana, Gujarat-384 002. NAGPUR Axis Asset Management

Company Ltd. 1st Floor, "The Edge", 12, Shankar Nagar, WHC Road, Nagpur-440010 NASIK

Axis Asset Management Company Limited, 1st Floor, Sharada Niketan, Tilakwadi, Opp. Hotel

City Pride, Sharanpur Road, Nasik – 422002 NEW DELHI Axis Asset Management Company Ltd.

702-705, 7th Floor, Narain Manzil, Barakhamba Road, Connaught Place, New Delhi - 110001.

PANAJI Axis Asset Management Company Limited Ground Floor, Shop No. G-7, Edcon

Towers, Menezes Braganza Road, Panjim, Goa - 403001. Prayagraj - Axis Asset Management

Company Limited, No.38/1, 1st Floor, Vashishtha Vinayak Tower, Tashkent Marg, Civil Lines,

Prayagraj - 211001, Uttar Pradesh. PANIPAT Axis Asset Management Company Limited, Shop-

20, Ground Floor, BMK Market, Behind Hotel HIVE, G.T. Road, Panipat- 132113, Haryana. PUNE

Axis Asset Management Company Ltd. Unit No. 102 & 102-A/B, 1st Floor, Signature Building,

Bhandarkar Road, CTS No. 853, Plot No. 195, Bhamburda, Shivajinagar, Pune - 411005. Pimpri-

Pune Axis Asset Management Company Limited. Shop No. D-6, Ground Floor, Empire Estate,

Chinchwad,Pimpri, Pune, Maharashtra – 411019 PATNA Axis Asset Management Company

Limited, 2nd Floor, Panchsheel House, 23 Telegraph Colony, Near Income Tax Golambar,

Kidwaipuri, Patna-800001, Bihar Ranchi - Axis Asset Management Company Limited Office No

201 (A),2nd Floor, Satya Ganga Arcade, Lalji Hirji Road, Ranchi-834001 RAIPUR Axis Asset

Management Company Ltd ,Office No. T -10, 3rd Floor, Raheja Towers, Fafadih , Chowk Jail

Road, Raipur, Chhattisgarh - 492001. RAJKOT Axis Asset Management Company Limited, 202,

2nd Floor, Orbit Enclave, Beside Ramkrishna Ashram, Dr. Yagnik Road, Rajkot, Gujarat -

360001. Siliguri - Axis Asset Management Company Limited Office No B-1/1-2-3, Upper

Ground Floor, Shelcon Plaza, Sevoke Road,Siliguri-734001 Solapur – Axis Asset Management

Company Limited. Office No S-2, 2nd Floor, Kanale Plaza, 82 Railway Lines, Dufferin Chowk,

- 94 -

Axis Fixed Term Plan - Series 120 (91 Days)

Solapur – 413001. SURAT Axis Asset Management Co. Limited. Office No. HG-28, Higher

Ground Floor, International Trade Centre, Majura Gate Crossing, Ring Road, Surat – 395002.

Thane Axis Asset Management Company Ltd, Manjula Arcade, 2nd Floor, Gokhale Road,

Naupada, Thane (West) - 400 602. Tirupati Axis Asset Management Company Limited PRS

Chowdary Towers,1st Floor, No. 18-2-299/A, Korlagunta Road, Ashok Nagar, Leela Mahal

Centre, Tirupati – 517501. Trichy - Axis Asset Management Company Ltd.,3rd Floor, Door No:

D-27, JB Towers, 7th Cross (East),Thillai Nagar, Trichy – 620018. Udaipur Axis Asset Management

Company Limited 2nd Floor, 2B, 2C & 2D, Near Lake City, Ward No. 51, Mahavir Colony,

Ashok Nagar, Main Road, Udaipur, Rajasthan – 313001. Vadodara Axis Asset Management

Company Limited 3rd Floor, 306, Emerald Complex, Race Course, Near Bird Circle, Old Padra

Road, Vadodara - 390 007.Amritsar Axis Asset Management Co. Ltd SCO-25, First floor, District

shopping Centre, B-Block, Ranjit Avenue, Amritsar – 143001. Varanasi Axis Asset Management

Company Ltd. 7th Floor, Arihant Complex, D-64/127 C-H, Sigra, Varanasi, Uttar Pradesh -

221010. Vapi – Axis Asset Management Company Limited F-110 1st Floor Saga Casa Building,

Daman Road, Chala Vapi-396191 Vijayawada Axis Asset Management Company Limited.

40-1-129,2nd Floor, Centurion Plaza, M.G. Road, Near Benz Circle, Vijayawada-520010

Visakhapatnam Axis Asset Management Company Limited, Navaratna Jewel Square, 2nd

Floor, S-7, Beside Jyothi Book Depot, Dwaraka Nagar, Visakhapatnam - 530016.

KFIN TECHNOLOGIES LIMITED INVESTOR SERVICE CENTERS

Bangalore - KFin Technologies Ltd.,No 35,Puttanna Road,Basavanagudi,Bangalore 560004

Belgaum - KFin Technologies Ltd.,Premises No.101, CTS NO.1893,Shree Guru Darshani

Tower,Anandwadi, Hindwadi,Belgaum 590011 Bellary - KFin Technologies Ltd.,Shree Gayathri

Towers #4,1st Floor K.H.B.Colony,Gopalaswamy Mudaliar Road,Gandhi Nagar-Bellary 583103

Davangere - KFin Technologies Ltd.,D.No 162/6 , 1st Floor, 3rd Main,P J Extension,Davangere

taluk, Davangere Manda,Davangere 577002 Dharwad - KFin Technologies Ltd.,ADINATH

COMPLEX,BESIDE KAMAL AUTOMOBILES, BHOOVI GALLI,OPP OLD LAXMI TALKIES, P B

ROAD,Dharwad 580001 Gulbarga - KFin Technologies Ltd.,H NO 2-231,KRISHNA COMPLEX,

2ND FLOOR Opp.,Opp. Municipal corporation Office,Jagat, Station Main Road,

KALABURAGI,Gulbarga 585105 Hassan - KFin Technologies Ltd.,SAS NO: 490, HEMADRI

ARCADE,2ND MAIN ROAD,SALGAME ROAD NEAR BRAHMINS BOYS HOSTEL,Hassan 573201

Hubli - KFin Technologies Ltd.,R R MAHALAXMI MANSION,ABOVE INDUSIND BANK, 2ND

FLOOR,DESAI CROSS, PINTO ROAD,Hubballi 580029 Mangalore – KFin Technologies Limited,

Shop no – 305, Marian Paradise Plaza, 3rd Floor, Bunts Hostel Road, Mangalore – 575003

Margao - KFin Technologies Ltd., Shop No. 21, Osia Mall, 1 Floor, Near KTC Bus Stand, SGDPA

Market Complex, Margao -403601. Tele No. : 0832-2731823 Mysore - KFin Technologies Ltd.,

NO 2924, 2ND FLOOR, 1ST MAIN, 5TH CROSS, SARASWATHI PURAM, MYSORE 570009 Panjim -

KFin Technologies Ltd.,H. No: T-9, T-10, Affran plaza,3rd Floor,Near Don Bosco High School,

Panjim 403001 Shimoga - KFin Technologies Ltd.,JAYARAMA NILAYA,2ND CORSS,MISSION

COMPOUND, Shimoga 577201 Ahmedabad - KFin Technologies Ltd.,Office No. 401, on 4th

Floor,ABC-I, Off. C.G. Road,-,Ahmedabad 380009 Anand - KFin Technologies Ltd.,B-42

Vaibhav Commercial Center,Nr Tvs Down Town Shrow Room ,Grid Char

Rasta ,Anand 380001 Baroda – KFIN Technologies Pvt Limited, 1st Floor 125 Kanha Capital,

Opp. Express Hotel, R C Dutt Road, Alkapuri Vadodara – 390007 Bharuch - KFin Technologies

Ltd.,123 Nexus business Hub, Near Gangotri Hotel, B/s Rajeshwari Petroleum, Makampur

Road, Bharuch 392001 Bhavnagar - KFin Technologies Ltd.,303 STERLING POINT ,WAGHAWADI

ROAD ,-,Bhavnagar 364001 Gandhidham - KFin Technologies Ltd.,Shop # 12 Shree Ambica

Arcade Plot # 300,Ward 12. Opp. CG High School ,Near HDFC Bank,Gandhidham 370201

Gandhinagar - KFin Technologies Ltd.,123 First Floor,Megh Malhar Complex,Opp. Vijay Petrol

Pump Sector - 11, Gandhinagar 382011 Jamnagar - KFin Technologies Ltd.,131 Madhav

Plazza, ,Opp Sbi Bank,Nr Lal Bunglow, Jamnagar 361008 Junagadh – KFin Technologies Ltd.

Shop, No. 201, 2nd Floor, V-ARCADE, Complex, Near Vanzari Chowk, M.G. Road,

- 95 -

Axis Fixed Term Plan - Series 120 (91 Days)

Junagadh,362001 Mehsana - KFin Technologies Ltd.,FF-21 Someshwar Shopping Mall

,Modhera Char Rasta, -,Mehsana 384002 Nadiad - KFin Technologies Ltd.,311-3rd Floor City

Center ,Near Paras Circle,-,Nadiad 387001 Navsari - KFin Technologies Ltd.,103 1ST FLOORE

LANDMARK MALL,NEAR SAYAJI LIBRARY ,Navsari Gujarat, Navsari 396445 Rajkot - KFin

Technologies Ltd.,302 Metro Plaza ,Near Moti Tanki Chowk,Rajkot, Rajkot Gujarat 360001 Surat

- KFin Technologies Ltd.,Office no: -516 5th Floor Empire State building ,Near Udhna Darwaja,

Ring Road, Surat 395002 Valsad - KFin Technologies Ltd.,406 Dreamland Arcade,Opp Jade

Blue,Tithal Road, Valsad 396001 Vapi - KFin Technologies Ltd.,A-8 FIRST FLOOR SOLITAIRE

BUSINESS CENTRE,OPP DCB BANK GIDC CHAR RASTA,SILVASSA ROAD, Vapi 396191 Chennai –

KFin Technologies Private Limited, 9th Floor, Capital Towers, 180, Kodambakkam High Road,

Nungambakkam | Chennai – 600034 Alleppy - KFin Technologies Ltd.,1st Floor Jp

Towers,Mullackal,Ksrtc Bus Stand,Alleppy 688011 Alleppy - KFin Technologies Ltd.,1st Floor Jp

Towers,Mullackal,Ksrtc Bus Stand,Alleppy 688011 Calicut - KFin Technologies Ltd.,Second

Floor,Manimuriyil Centre, Bank Road,,Kasaba Village,Calicut 673001. Kalyan - Seasons

Business Centre, 104 / 1st Floor, Shivaji Chowk, Opposite KDMC (Kalyan Dombivali

Mahanagar Corporation) Kalyan, Maharashtra -421301. Tel No- 9619553105. Kochi - KFIN

Technologies Limited Door No:61/2784 Second floor Sreelakshmi Tower Chittoor Road,

Ravipuram Ernakulam-Kerala-682015 Tel No- 0484-4025059 Kannur - KFin Technologies

Ltd.,2ND FLOOR,GLOBAL VILLAGE,BANK ROAD,Kannur 670001 Kollam - KFin Technologies

Ltd.,GROUND FLOORA NARAYANAN SHOPPING COMPLEX,KAUSTHUBHSREE

BLOCK,Kadapakada,Kollam 691008 Kottayam - KFin Technologies Ltd.,1St Floor Csiascension

Square,Railway Station Road,Collectorate P O,Kottayam 686002 Malappuram - KFin

Technologies Ltd.,2nd Floor,Peekays Arcade,Down Hill,Malappuram 676505 Palghat - KFin

Technologies Ltd.,No: 20 & 21 ,Metro Complex H.P.O.Road Palakkad,H.P.O.Road,Palakkad

678001 Tiruvalla - KFin Technologies Ltd.,2Nd Floor Erinjery Complex,Ramanchira,Opp Axis

Bank,Thiruvalla 689107 Trichur/Thrissur - KFin Technologies Ltd.,4TH FLOOR, CROWN

TOWER,SHAKTHAN NAGAR,OPP. HEAD POST OFFICE,Thrissur 680001 Trivandrum - Kfin

Technologies Ltd, 3rd Floor, No- 3B TC-82/3417, Capitol Center, Opp Secretariat, MG Road,

Trivandrum Kerala - 695001. Tel No- 9400495021. Coimbatore - KFin Technologies Ltd.,3rd Floor

Jaya Enclave,1057 Avinashi Road,-,Coimbatore 641018 Dindigul - KFin Technologies Ltd.,NO

59B New Pensioner street,Palani Road,,Opp Gomathi Lodge,Dindigul 624001 Erode - KFin

Technologies Ltd.,Address No 38/1 Ground Floor,Sathy Road,(VCTV Main Road),Sorna Krishna

Complex,Erode 638003 Karur - KFin Technologies Ltd.,No 88/11, BB plaza,NRMP street,K S Mess

Back side,Karur 639002 Madurai - KFin Technologies Ltd.,No. G-16/17,AR Plaza, 1st floor,North

Veli Street,Madurai 625001 Nagerkoil - KFin Technologies Ltd.,HNO 45 ,1st Floor,East Car Street

,Nagercoil 629001 Pollachi - KFin Technologies Ltd.,1st floor,MKG complex,Opp to Gowri

Shankar Hotel,-,Pollachi 642001 Pondicherry - KFin Technologies Ltd.,No

122(10b),Muthumariamman koil street,-,Pondicherry 605001 Salem -KFin Technologies Ltd.,

No.6 NS Complex, Omalur main road, Salem 636009 Thanjavur - KFin Technologies Ltd.,No 1,

Basement,Nallaiyah Complex,Srinivasam pillai road,Thanjavur 613001 Tirunelveli - KFin

Technologies Ltd.,55/18 Jeney Building, 2

Floor, S N Road,Near Aravind Eye

Hospital,Tirunelveli 627001 Tirupur - KFin Technologies Ltd.,No 669A,Kamaraj Road,,Near old

collector office,,Tirupur 641604 Trichy - KFin Technologies Ltd.,No 23C/1 E V R road, Near

Vekkaliamman Kalyana Mandapam,Putthur,-,Trichy 620017 Tuticorin - KFin Technologies Ltd.,4

- B A34 - A37,Mangalmal Mani Nagar,Opp. Rajaji Park Palayamkottai Road,Tuticorin 628003

Vellore - KFin Technologies Ltd.,No 2/19,1st floor,Vellore city centre,Anna salai,Vellore 632001

Agartala - KFin Technologies Ltd.,OLS RMS CHOWMUHANI,MANTRI BARI ROAD1ST FLOOR NEAR

TRAFFIC POINT,TRIPURA WEST,Agartala 799001 Guwahati - KFin Technologies Ltd.., Ganapati

Enclave, 4th Floor, Opposite Bora Service, Ullubari, Guwahati, Assam - 781007. Shillong - KFin

Technologies Ltd.,Annex Mani Bhawan ,Lower Thana Road ,Near R K M Lp School ,Shillong

793001 Silchar - KFin Technologies Ltd.,N.N. Dutta Road,Chowchakra

Complex,Premtala,Silchar 788001 Ananthapur - KFin Technologies Ltd.,Plot No: 12-313,,Balaji

Towers, Suryanagar,Ananthapur Village,Anantapur 515001 Eluru - KFin Technologies Ltd.,DNO-

- 96 -

Axis Fixed Term Plan - Series 120 (91 Days)

23A-7-72/73K K S PLAZA MUNUKUTLA VARI STREET,OPP ANDHRA HOSPITALS,R R PETA,Eluru

534002 Guntur - KFin Technologies Ltd.,2nd Shatter, 1st Floor,Hno. 6-14-48, 14/2 Lane,,Arundal

Pet,Guntur 522002 Hyderabad - KFin Technologies Ltd.,No:303, Vamsee Estates,Opp:

Bigbazaar,Ameerpet,Hyderabad 500016 Karimnagar - KFin Technologies Ltd.,2nd ShutterHNo.

7-2-607 Sri Matha ,Complex Mankammathota ,-,Karimnagar 505001 Kurnool - KFin

Technologies Ltd.,Shop No:47,2nd Floor,S komda Shoping mall,Kurnool 518001 Nanded - KFin

Technologies Ltd.,Shop No.4 ,Santakripa Market G G Road,Opp.Bank Of India,Nanded

431601 Nellore - KFin Technologies Ltd.,D No:16-5-66 Ramarao Complex, No:2 Shop

No:305,3rd Floor ,Nagula Mitta Rodad,Opp Bank of baroda,Nellore 524001 Rajahmundry -

KFin Technologies Ltd.., No. 46-23-10/A, Tirumala Arcade, 2nd Floor, Ganuga Veedhi,

Danavaipeta, Rajahmundry East, Godavari Dist., AP - 533103. Solapur - KFin Technologies

Ltd.,Block No 06,Vaman Nagar Opp D-Mart,Jule Solapur,Solapur 413004 Tirupathi – KFin

Technologies Ltd., Shop No:18-1-421/f1, CITY Center, K.T. Road, Airtel Backside office. Tirupathi

– 517501 Vijayanagaram - KFin Technologies Ltd.,D No : 20-20-29, 1st Floor,Surya Nagar,

Kalavapuvvu Meda,Near Ayodhya Stadium, Dharmapuri Road,Vizianagaram 535002

Vijayawada - KFin Technologies Ltd.,HNo26-23, 1

Floor, Sundarammastreet, GandhiNagar,

Krishna,Vijayawada 520010 Visakhapatnam - KFin Technologies Ltd.,DNO : 48-10-40, GROUND

FLOOR, SURYA RATNA ARCADE, SRINAGAR, OPP ROADTO LALITHA JEWELLER

SHOWROOM,BESIDE TAJ HOTEL LADGE,Visakhapatnam 530016 Warangal - KFin Technologies

Ltd.,Shop No22 , ,Ground Floor Warangal City Center,15-1-237,Mulugu Road

Junction,Warangal 506002 Khammam - KFin Technologies Ltd.,11-4-3/3 Shop No. S-9,1st

floor,Srivenkata Sairam Arcade,Old CPI Office Near PriyaDarshini CollegeNehru Nagar

,KHAMMAM 507002 Hyderabad(Gachibowli) - KFintech Pvt.Ltd,Selenium Plot No: 31 &

32,Tower B Survey No.115/22 115/24 115/25,Financial District Gachibowli Nanakramguda

Serilimgampally Mandal,Hyderabad,500032 Akola - KFin Technologies Limited Shop No 25,

Ground Floor Yamuna Tarang Complex, Murtizapur Road N.H. No- 6, Opp Radhakrishna

Talkies Akola 444001, Maharashtra Tel No- 07542451874 Amaravathi - KFin Technologies

Ltd.,Shop No. 21 2nd Floor,Gulshan Tower,Near Panchsheel Talkies Jaistambh

Square,Amaravathi 444601 Aurangabad - KFin Technologies Ltd.,Shop no B 38,Motiwala

Trade Center,Nirala Bazar,Aurangabad 431001 Bhopal - KFin Technologies Ltd.,Gurukripa

Plaza, Plot No. 48A,Opposite City Hospital, zone-2,M P nagar,Bhopal 462011 Dhule - KFin

Technologies Ltd.,Ground Floor Ideal Laundry Lane No 4,Khol Galli Near Muthoot

Finance,Opp Bhavasar General Store,Dhule 424001 Indore - KFin Technologies

Ltd.,101,Diamond Trade centre,-,Indore 452001 Jabalpur - KFin Technologies Ltd.., 2nd Floor,

290/1 (615-New), Near Bhavartal Garden, Jabalpur - 482001. Jalgaon - KFin Technologies

Ltd.,3rd floor,22 Yashodhah,Ring Road,Jalgaon 425001 Nagpur - KFin Technologies Ltd.,Plot

No. 2, Block No. B / 1 & 2 , Shree Apratment,Khare Town, Mata Mandir

Road,Dharampeth,Nagpur 440010 Nasik - KFin Technologies Ltd.,S-9 Second Floor,Suyojit

Sankul,Sharanpur Road,Nasik 422002 Ratlam - KFin Technologies Ltd.,1 Nagpal Bhawan Free

Ganj Road ,Do Batti ,Near Nokia Care ,Ratlam 457001 Sagar - KFin Technologies Ltd.,II floor

Above shiva kanch mandir.,5 civil lines,Sagar,Sagar 470002 Ujjain - KFin Technologies

Ltd.,Heritage Shop No. 227,87 Vishvavidhyalaya Marg,Station Road,Near ICICI bank Above

Vishal Megha Mart,Ujjain 456001 Asansol - KFin Technologies Ltd.,112/N G. T. ROAD BHANGA

PACHIL,G.T Road Asansol Pin: 713 303; ,Paschim Bardhaman West Bengal,Asansol 713303

Balasore - KFin Technologies Ltd.,1-B. 1st Floor, Kalinga Hotel Lane,Baleshwar,Baleshwar

Sadar,Balasore 756001 Bankura - KFin Technologies Ltd.,Plot nos- 80/1/ANATUNCHATI

MAHALLA 3rd floor,Ward no-24 Opposite P.C Chandra,Bankura town,Bankura 722101

Berhampur (Or) - KFin Technologies Ltd., Opp Divya Nandan Kalyan Mandap,3rd Lane

Dharam Nagar,Near Lohiya Motor,Berhampur (Or) 760001 Bhilai - KFin Technologies

Ltd.,Office No.2, 1st Floor,Plot No. 9/6,Nehru Nagar [East],Bhilai 490020 Bhubaneswar - KFin

Technologies Ltd.,A/181 Back Side Of Shivam Honda Show Room,Saheed Nagar,-

,Bhubaneswar 751007 Bilaspur - KFin Technologies Ltd.,Shop.No.306,3rd Floor,ANANDAM

PLAZA,Vyapar Vihar Main Road,Bilaspur 495001 Bokaro - KFin Technologies Ltd.,CITY CENTRE,

- 97 -

Axis Fixed Term Plan - Series 120 (91 Days)

PLOT NO. HE-07,SECTOR-IV,BOKARO STEEL CITY,Bokaro 827004 Burdwan - KFin Technologies

Ltd.,Anima Bhavan 1st Floor Holding No.-42,Sreepally G. T. Road,West Bengal,Burdwan 713103

Chinsura - KFin Technologies Ltd.,No : 96,PO: CHINSURAH,DOCTORS LANE,Chinsurah 712101

Cuttack - KFin Technologies Ltd.,SHOP NO-45,2ND FLOOR,,NETAJI SUBAS BOSE ARCADE,,(BIG

BAZAR BUILDING) ADJUSENT TO RELIANCE TRENDS,,DARGHA BAZAR,Cuttack 753001 Dhanbad

- KFin Technologies Ltd.,208 New Market 2Nd Floor,Bank More,-,Dhanbad 826001 Durgapur -

KFin Technologies Ltd.,MWAV-16 BENGAL AMBUJA,2ND FLOOR CITY CENTRE,Distt. BURDWAN

Durgapur-16 ,Durgapur 713216 Gaya - KFin Technologies Ltd.,Property No. 711045129, Ground

FloorHotel Skylark,Swaraipuri Road,-,Gaya 823001 Jalpaiguri - KFin Technologies Ltd.,D B C

Road Opp Nirala Hotel,Opp Nirala Hotel,Opp Nirala Hotel,Jalpaiguri 735101 Jamshedpur -

KFin Technologies Ltd.,Madhukunj, 3rd Floor ,Q Road, Sakchi,Bistupur, East

Singhbhum,Jamshedpur 831001 Kharagpur - KFin Technologies Ltd.,Holding No 254/220, SBI

BUILDING,Malancha Road, Ward No.16, PO: Kharagpur, PS: Kharagpur,Dist: Paschim

Medinipur,Kharagpur 721304 Kolkata - KFin Technologies Ltd.,Apeejay House ( Beside Park

Hotel ),C Block3rd Floor,15 Park Street ,Kolkata 700016 Malda - KFin Technologies Ltd.,RAM

KRISHNA PALLY; GROUND FLOOR,ENGLISH BAZAR,-,Malda 732101 Patna - Kfin Technologies

Ltd, Flat No.- 102, 2BHK Maa Bhawani Shardalay, Exhibition Road, Patna- 800001. Raipur - KFin

Technologies Ltd.,OFFICE NO S-13 SECOND FLOOR REHEJA TOWER,FAFADIH CHOWK,JAIL

ROAD,Raipur 492001 Ranchi - KFin Technologies Limited Room no 103, 1st Floor, Commerce

Tower, Beside Mahabir Tower, Main Road, Ranchi – 834001. Rourkela - KFin Technologies

Ltd.,2nd Floor, Main Road,UDIT NAGAR,SUNDARGARH,Rourekla 769012 Sambalpur - KFin

Technologies Ltd.,First Floor; Shop No. 219,SAHEJ PLAZA,Golebazar; Sambalpur,Sambalpur

768001 Siliguri - KFin Technologies Ltd.,Nanak Complex, 2nd Floor,Sevoke Road,-,Siliguri

734001 Dalhousie - KFin Technologies Ltd.,2Nd Floor Room no-226,R N Mukherjee

Road,,Kolkata,700 001 Agra - KFin Technologies Ltd.,House No. 17/2/4, 2nd

Floor,Deepak Wasan Plaza,Behind Hotel Holiday INN,Sanjay Place,Agra 282002 Aligarh - KFin

Technologies Ltd.,Sebti Complex Centre Point,Sebti Complex Centre Point,-,Aligarh 202001

Allahabad - KFin Technologies Ltd.,Meena Bazar,2nd Floor 10 S.P. Marg Civil Lines,Subhash

Chauraha, Prayagraj,Allahabad 211001 Ambala - KFin Technologies Ltd.,6349, 2nd

Floor,Nicholson Road,Adjacent Kos Hospitalambala Cant,Ambala 133001 Azamgarh - KFin

Technologies Ltd Shop no. 18 Gr. Floor, Nagarpalika, Infront of Tresery office, Azamgarh, UP-

276001. Bareilly - KFin Technologies Ltd.,1ST FLOORREAR SIDEA -SQUARE BUILDING,54-CIVIL

LINES,Ayub Khan Chauraha,Bareilly 243001 Begusarai -KFin Technologies Limited, Sri Ram

Market, Kali Asthan Chowk, Matihani Road, Begusarai, Bihar – 851101 Bhagalpur - KFin

Technologies Ltd.,2Nd Floor,Chandralok ComplexGhantaghar,Radha Rani Sinha

Road,Bhagalpur 812001 Darbhanga - KFin Technologies Limited, “H No-185, Ward No-13,

National Statistical office Campus, Kathalbari, Bhandar Chowk, Darbhanga, Bihar – 846004

Dehradun – KFin Technologies Ltd.., Shop No-809/799, Street No-2 A, Rajendra Nagar, Near

Sheesha, Lounge Kaulagarh Road, Dehradun-248001 Deoria - KFin Technologies Ltd.,K. K.

Plaza,Above Apurwa Sweets,Civil Lines Road,Deoria 274001 Faridabad - KFin Technologies

Ltd.,A-2B 2nd Floor,Neelam Bata Road Peer ki Mazar,Nehru Groundnit,Faridabad 121001

Ghaziabad - KFin Technologies Ltd.,FF - 31, Konark Building,Rajnagar,-,Ghaziabad 201001

Ghazipur - KFin Technologies Ltd.,House No. 148/19,Mahua Bagh,-,Ghazipur 233001 Gonda -

KFin Technologies Ltd.,H No 782,Shiv Sadan,ITI Road,Near Raghukul Vidyapeeth,Civil

lines,Gonda 271001 Gorakhpur - KFin Technologies Ltd.,Above V.I.P. House ajdacent,A.D. Girls

College,Bank Road,Gorakpur 273001 Gurgaon - KFin Technologies Ltd.,No: 212A, 2nd

Floor, Vipul Agora,M. G. Road,-,Gurgaon 122001 Gwalior - KFin Technologies Ltd.,City

Centre,Near Axis Bank,-,Gwalior 474011 Haldwani - KFin Technologies Ltd.,Shoop No 5,KMVN

Shoping Complex,-,Haldwani 263139 Haridwar - KFin Technologies Ltd.,Shop No. - 17,Bhatia

Complex,Near Jamuna Palace,Haridwar 249410 Hissar - KFin Technologies Ltd.,Shop No. 20,

Ground Floor,R D City Centre,Railway Road,Hissar 125001 Jaunpur - KFin Technologies Ltd.,R N

Complex 1-1-9-G,R. N. Complex, Opposite Pathak Honda,Above Oriental Bank of

Commerce,Jaunpur 222002 Jhansi - KFin Technologies Ltd.,1st Floor, Puja Tower,Near 48

- 98 -

Axis Fixed Term Plan - Series 120 (91 Days)

Chambers,ELITE Crossing,Jhansi 284001 Kanpur - KFin Technologies Ltd.,15/46 B Ground

Floor,Opp : Muir Mills,Civil Lines,Kanpur 208001 Korba - KFin Technologies Ltd.,Nidhi Biz

Complex,Plot No 5, Near Patidar Bhawan,T. P. Nagar,Korba 495677 Lucknow - KFin

Technologies Ltd.,Ist Floor,A. A. Complex,5 Park Road Hazratganj Thaper House,Lucknow

226001 Mandi - "KFin Technologies Ltd., House No. 99/11, 3rd Floor,Opposite GSS Boy

School,School Bazar,Mandi 175001" Mathura - KFin Technologies Ltd.,Shop No. 9, Ground

Floor, Vihari Lal Plaza,Opposite Brijwasi Centrum,Near New Bus Stand,Mathura 281001 Meerut

- KFin Technologies Ltd., Shop No:- 111, First Floor, Shivam Plaza, Near Canara Bank, Opposite

Eves Petrol, Pump, Meerut - 250001, Uttar Pradesh, India Mirzapur - KFin Technologies

Ltd.,House No. 404,Ward No. 8,Dankeenganj, Mirzapur,Mirzapur 231001 Moradabad - KFin

Technologies Ltd.,Chadha Complex,G. M. D. Road,Near Tadi Khana Chowk,Moradabad

244001 Morena - KFin Technologies Ltd.,House No. HIG 959,Near Court,Front of Dr. Lal Lab,Old

Housing Board Colony,Morena 476001 Muzaffarpur - KFin Technologies Ltd.,First Floor Saroj

Complex ,Diwam Road,Near Kalyani Chowk,Muzaffarpur 842001 Noida - KFin Technologies

Ltd.,F-21,2nd Floor,Near Kalyan Jewelers,Sector-18,Noida 201301 Panipat – KFin Technologies

Ltd., Shop No. 20, 1st Floor BMK Market, Behind HIVE Hotel, G.T. Road, Panipat-132103,

Haryana Renukoot - KFin Technologies Ltd.,C/o Mallick Medical Store,Bangali Katra Main

Road,Dist. Sonebhadra (U.P.),Renukoot 231217 Rewa - KFin Technologies Ltd.,Shop No. 2,

Shree Sai Anmol Complex,Ground Floor,Opp Teerth Memorial Hospital,Rewa 486001 Rohtak –

KFin Technologies Limited, Office No:- 61, First Floor, Ashoka Plaza, Delhi Road, Rohtak 124001

Roorkee - KFin Technologies Ltd, Near Shri Dwarkadhish Dharm Shala, Ramnagar, Roorkee-

247667. Saharanpur - KFin Technologies Ltd.,18 Mission Market,Court Road,-,Saharanpur

247001 Satna - KFin Technologies Ltd.,Jainam Market,Purana Power House Chauraha,Panni

Lal Chowk,Satna 485001 Shimla - KFin Technologies Ltd.,1st Floor,Hills View Complex,Near

Tara Hall,Shimla 171001 Shivpuri - KFin Technologies Ltd.,A. B. Road,In Front of Sawarkar

Park,Near Hotel Vanasthali,Shivpuri 473551 Sitapur - KFin Technologies Ltd.,12/12 Surya

Complex,Station Road ,Uttar Pradesh,Sitapur 261001 Solan - KFin Technologies Ltd.,Disha

Complex, 1St Floor,Above Axis Bank,Rajgarh Road,Solan 173212 Sonepat - KFin Technologies

Ltd.,2nd floor,DP Tower, Model Town,Near Subhash Chowk,Sonepat 131001 Sultanpur - KFin

Technologies Ltd.,1st Floor, Ramashanker Market,Civil Line,-,Sultanpur 228001 Varanasi - KFin

Technologies Ltd, D.64 / 52, G – 4 Arihant Complex, Second Floor ,Madhopur, Shivpurva Sigra

,Near Petrol Pump Varanasi -221010 Uttar Pradesh. Yamuna Nagar - KFin Technologies Ltd.,B-

V, 185/A, 2nd Floor, Jagadri Road,,Near DAV Girls College, (UCO Bank Building) Pyara

Chowk,-,Yamuna Nagar 135001 Kolhapur - KFin Technologies Ltd.,605/1/4 E Ward Shahupuri

2Nd Lane,Laxmi Niwas,Near Sultane Chambers,Kolhapur 416001 Mumbai Fort Branch - KFin

Technologies Ltd., 6/8 Ground Floor, Crossely House, Near BSE (Bombay Stock Exchange),

Next Union Bank, Fort, Mumbai - 400 001 Pune - KFin Technologies Ltd.,Office # 207-210,

second floor,Kamla Arcade, JM Road. Opposite Balgandharva,Shivaji Nagar,Pune 411005

Vashi - KFin Technologies Ltd.,Vashi Plaza,Shop no. 324,C Wing, 1ST Floor,Sector 17,Vashi

Mumbai,400705 Vile Parle - KFin Technologies Ltd.,Shop No.1 Ground Floor,,Dipti Jyothi Co-

operative Housing Society,,Near MTNL office P M Road,,Vile Parle East,400057 Borivali - KFin

Technologies Ltd.,Gomati SmutiGround Floor,Jambli Gully,Near Railway Station ,Borivali

Mumbai,400 092 Thane - KFin Technologies Ltd.,Room No. 302 3rd FloorGanga Prasad,Near

RBL Bank Ltd,Ram Maruti Cross RoadNaupada Thane West ,Mumbai,400602 Ajmer - KFin

Technologies Ltd.,302 3rd Floor,Ajmer Auto Building,Opposite City Power House,Jaipur Road;

Ajmer 305001 Alwar - KFin Technologies Ltd.,Office Number 137, First Floor,Jai Complex,Road

No-2,Alwar 301001 Amritsar - KFin Technologies Ltd.,SCO 5 ,2nd Floor, District Shopping

Complex,Ranjit Avenue,Amritsar 143001 Bhatinda - KFin Technologies Ltd.,MCB -Z-3-01043, 2

floor, GONIANA ROAD,OPPORITE NIPPON INDIA MF GT ROAD,NEAR HANUMAN

CHOWK,Bhatinda 151001 Bhilwara - KFin Technologies Ltd.,Office No. 14 B, Prem Bhawan,Pur

Road, Gandhi Nagar,Near CanaraBank,Bhilwara 311001 Bikaner - KFin Technologies Ltd,

H.No. 10, Himtasar House, Museum circle, Civil line, Bikaner, Rajasthan – 334001. Chandigarh -

KFin Technologies Ltd.,First floor, SCO 2469-70,Sec. 22-C,-,Chandigarh 160022.Ferozpur - KFin

- 99 -

Axis Fixed Term Plan - Series 120 (91 Days)

Technologies Ltd.,The Mall Road Chawla Bulding Ist Floor,Opp. Centrail Jail,Near Hanuman

Mandir,Ferozepur 152002 Hoshiarpur - KFin Technologies Ltd.,Unit # SF-6,The Mall Complex,2nd

Floor , Opposite Kapila Hospital,Sutheri Road,Hoshiarpur 146001 Jaipur - KFin Technologies

Ltd.,Office no 101, 1st Floor,Okay Plus Tower, Next to Kalyan Jewellers, Government Hostel

Circle, Ajmer Road,Jaipur 302001 Jalandhar - KFin Technologies Ltd.,Office No 7, 3rd Floor,

City Square building,E-H197 Civil Line,Next to Kalyan Jewellers, Jalandhar 144001 Jammu -

KFin Technologies Ltd..,304, A-1, 03rd Floor ,North Block, Bahu Plaza, Jammu -180004. Jodhpur

- KFin Technologies Ltd.,Shop No. 6, GANG TOWER, G Floor,OPPOSITE ARORA MOTER SERVICE

CENTRE,NEAR BOMBAY MOTER CIRCLE,Jodhpur 342003 Karnal – KFin Technologies Ltd, 3

Randhir Colony, Near Doctor J.C.Bathla Hospital, Karnal, Haryana – 132 001 Kota - KFin

Technologies Ltd.,D-8, SHRI RAM COMPLEX,OPPOSITE MULTI PURPOSE

SCHOOL,GUMANPUR,Kota 324007 Ludhiana - KFin Technologies Ltd.,SCO 122, Second floor,

Above Hdfc Mutual fun, Feroze Gandhi Market,Ludhiana 141001 Moga - KFin Technologies

Ltd.,1St FloorDutt Road,Mandir Wali Gali,Civil Lines Barat Ghar ,Moga 142001 New Delhi - KFin

Technologies Ltd.,305 New Delhi House ,27 Barakhamba Road ,-,New Delhi 110001 Pathankot

- KFin Technologies Ltd.,2nd Floor Sahni Arcade Complex,Adj.Indra colony Gate Railway

Road,Pathankot,Pathankot 145001 Patiala - KFin Technologies Ltd.,B- 17/423,Lower Mall

Patiala,Opp Modi College,Patiala 147001 Sikar - KFin Technologies Ltd.,First FloorSuper

Tower ,Behind Ram Mandir Near Taparya Bagichi ,-,Sikar 332001Sri Ganganagar - KFin

Technologies Ltd.,Address Shop No. 5, Opposite Bihani Petrol Pump,NH - 15,near Baba

Ramdev Mandir,Sri Ganganagar 335001 Udaipur - KFin Technologies Ltd.,Shop No. 202, 2nd

Floor business centre,1C Madhuvan,Opp G P O Chetak Circle ,Udaipur 313001. Srikakulam -

KFin Technologies Ltd, D No: 158, Shop No#3, Kaki Street, Opp Tulasi Das Hospital,CB Road,

Srikakulam – 532001, Andhra Pradesh. Ghatkopar - Kfin Technologies Ltd 11/Platinum Mall,

Jawahar Road, Ghatkopar (East), Mumbai 400077.Tel No- 9004089306. Satara - Kfin

Technologies Ltd G7, 465 A, Govind Park Satar Bazaar, Satara – 415001.Tel No- 9890003215.

Ahmednagar - Kfin Technologies Ltd Shop no. 2, Plot No. 17, S.no 322, Near Ganesh Colony,

Savedi, Ahmednagar – 414001.Tel No- 9890003215. Nellore - Kfin Technologies Ltd 24-6-326/1,

Ibaco Building 4th Floor, Grand Truck road, Beside Hotel Minerva, Saraswathi Nagar,

Dargamitta Nellore – 524003.Tel No- 9595900000.

Axis Asset Management Company Limited (Investment Manager to Axis Mutual Fund) Axis

House, 1st Floor, C-2 Wadia International, Pandurang Budhkar Marg, Worli, Mumbai - 400025,

India.

Website of the AMC (www.axismf.com) / Mobile Application/ Whatsapp facility / various

digital platforms /apps or virtual channels etc. if made available by Axis Mutual Fund shall be

treated as an Official Point of Acceptance.

In addition to the existing Official Points of Acceptance (“OPA”) for accepting transactions in

the units of the schemes of the Axis Mutual Fund as disclosed in the SID,

http://www.mfuindia.com/MFUPOS i.e. online transaction portal of MFU and the authorized

Points of Service (“POS”) designated by MUFI shall also be the OPA.

Axis Asset Management Company Limited (Investment Manager to Axis Mutual Fund) Axis

House, 1st Floor, C-2 Wadia International, Pandurang Budhkar Marg, Worli, Mumbai - 400025,

India.

TEL 022 4325 5100 FAX 022 4325 5199 contact number 8108622211(Chargeable) EMAIL

customerservice@axismf.com WEB www.axismf.com

- 100 -

Axis Fixed Term Plan - Series 120 (91 Days)

Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act,

1882, sponsored by Axis Bank Ltd. (liability restricted to Rs. 1 Lakh). Trustee: Axis Mutual Fund

Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC). Risk Factors:

The sponsor is not liable or responsible for any loss or shortfall resulting from the operation of

the scheme.

Mutual Fund investments are subject to market risks, read all scheme related documents

carefully.