Axis Asset Management Company (Axis AMC) announced a tax‐free dividend (No dividend distribution tax) of  Rs 1 an unit on a face value of Rs 10 an unit under Axis Equity Fund. Pursuant to payment of dividend, the NAV of the Dividend Option of Axis Equity Fund would fall to the extent of payout and statutory levy, if any.

The NAV per unit of Axis Equity Fund as on Mar. 10, 2014 was Rs 12.75 (Axis Equity Fund - Direct Plan Dividend) & 12.64 (Axis Equity Fund ‐ Dividend). The record date for the dividend is Mar. 17, 2014. Axis Equity Fund is an open ended growth scheme that was launched on Nov 11, 2014. It is currently being managed by Pankaj Murarka.

Pankaj Murarka, head equity, Axis AMC and fund manager of the scheme said, ''Axis Equity fund has endeavored to generate returns even in volatile markets, we have a risk process to understand valued business and we then manage risk in our portfolio, It is always easy to get a few percentage point higher returns by taking significantly higher risks. But it may not be in the best interest of investors. So our focus is not absolute returns, but risk‐adjusted returns. That's how investors should see returns.''