Description

BSE activates SMART Switch feature for AXIS Gold and Silver Passive FOF NFO, enabling automatic switching from AXIS Overnight Fund to AXIS Multi-Asset Active FOF.

Summary

BSE has activated the SMART Switch feature for AXIS Gold and Silver Passive Fund of Funds (FOF) New Fund Offer (NFO) on the BSE StAR MF platform. This feature enables automatic switching of subscriptions received in AXIS Overnight Fund (both Normal and Direct Growth options) to AXIS Multi-Asset Active FOF (corresponding Growth options).

Key Points

  • SMART Switch feature activated for AXIS Gold and Silver Passive FOF NFO
  • Applies to both Normal Growth and Direct Growth plan variants
  • Subscription received scheme: AXIS Overnight Fund
  • Switch-in reporting scheme: AXIS Multi-Asset Active FOF
  • Two transaction mapping pairs established for seamless fund switching

Scheme Mapping Details

Normal Growth Plan

  • Subscription Scheme: AXIS Gold and Silver Passive FOF - NFO SMART Switch - AXIS Overnight Fund - Normal Growth
  • Switch-In Scheme: AXIS Multi-Asset Active FOF - Normal Growth

Direct Growth Plan

  • Subscription Scheme: AXIS Gold and Silver Passive FOF - NFO SMART Switch - AXIS Overnight Fund - Direct Growth
  • Switch-In Scheme: AXIS Multi-Asset Active FOF - Direct Growth

Operational Impact

  • Facilitates automatic fund switching mechanism during NFO period
  • Enables investors to park funds temporarily in Overnight Fund before final allocation
  • Streamlines transaction processing on BSE StAR MF platform
  • Affects AXIS Mutual Fund scheme subscribers only

Important Dates

  • Circular Date: December 9, 2025
  • Effective immediately upon circular issuance

Impact Assessment

This is a low-impact operational circular affecting only investors participating in the AXIS Gold and Silver Passive FOF NFO. The SMART Switch feature provides operational convenience during the NFO period by allowing temporary parking of funds in the Overnight Fund with automatic switching to the Multi-Asset Active FOF. This mechanism is standard for NFO processing and has minimal broader market implications.

Impact Justification

Routine operational circular for mutual fund platform feature activation affecting only specific AXIS fund schemes during NFO period