Axis Mutual Fund has launched a new fund named Axis Dynamic Bond Fund, an open ended debt scheme. The NFO price for the scheme is Rs 10 per unit. The NFO will be open for subscription from 6th April, 2011 and close on 20th April, 2011. The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. The exit load charge will be 0.5% if redeemed / switched out within 6 months from date ofallotment. This scheme has offer options viz., Quarterly Dividend,Half Yearly Dividend and Growth Option. The objective of the fund is to generate optimal returns while maintaining liquidity through active management of a portfolio of debt & money market instruments. The fund is benchmark against CRISIL Composite Bond Fund Index and will be managed by Mr. R. Sivakumar and Mr. Ninad Deshpande.