Description

Axis Mutual Fund merges Axis CRISIL IBX SDL June 2034 Debt Index Fund into Axis Gilt Fund effective February 04, 2026, with automatic transfer of all existing SIP/XSIP/STP/SWP registrations.

Summary

NSE has notified members about the merger of Axis CRISIL IBX SDL June 2034 Debt Index Fund (merging scheme) into Axis Gilt Fund (surviving scheme) under Axis Mutual Fund, effective February 04, 2026. All existing systematic investment plans (SIP/XSIP/STP/SWP) registered in the merging scheme will be automatically transferred to the surviving scheme from the effective date.

Key Points

  • Merging Scheme: Axis CRISIL IBX SDL June 2034 Debt Index Fund (Index Fund category)
  • Surviving Scheme: Axis Gilt Fund (Gilt Fund category)
  • Effective Date: February 04, 2026
  • Automatic migration of all SIP/XSIP/STP/SWP from merging to surviving scheme
  • No new scheme emergence - existing Axis Gilt Fund continues
  • Both schemes classified as Moderate risk as of November 30, 2025
  • Post-merger investments will follow Axis Gilt Fund’s investment objective and asset allocation

Regulatory Changes

No regulatory changes introduced. This is a scheme rationalization exercise by Axis Mutual Fund within existing SEBI mutual fund regulations framework.

Compliance Requirements

  • NSE members must take note of the merger details
  • Platform updates required on NSE MF Invest platform to reflect merged scheme structure
  • Investors in merging scheme will automatically become unitholders of surviving scheme
  • All systematic plans will continue without investor intervention required

Important Dates

  • Circular Date: February 03, 2026
  • Merger Effective Date: February 04, 2026
  • Automatic SIP/XSIP/STP/SWP Transfer: February 04, 2026

Impact Assessment

Investor Impact: Existing investors in Axis CRISIL IBX SDL June 2034 Debt Index Fund will see their holdings transferred to Axis Gilt Fund. The investment strategy changes from a target maturity index fund tracking CRISIL IBX SDL Index June 2034 (focused on state government securities) to a broader gilt fund investing in government securities across maturities. Both schemes maintain moderate risk classification.

Operational Impact: NSE MF Invest platform requires scheme mapping updates. All systematic investment arrangements continue seamlessly without investor action. The merger simplifies Axis Mutual Fund’s product lineup by consolidating two government securities-focused schemes.

Risk Profile: Both schemes carry relatively high interest rate risk and relatively low credit risk. The surviving scheme (Axis Gilt Fund) offers broader maturity exposure compared to the target maturity approach of the merging scheme.

Impact Justification

Medium importance as it affects existing investors in Axis CRISIL IBX SDL June 2034 Debt Index Fund with automatic migration to surviving scheme, but limited to specific mutual fund schemes