Axis Mutual Fund has launched Axis Equity Saver Fund, an open-ended equity scheme, seeking to generate capital appreciation and income distribution, by investing in multiple asset classes - equity, hedged equity (arbitrage opportunities) and debt. The fund can invest a maximum of 45% in equities and the balance allocation is spread between income generating assets including fixed income and arbitrage. The scheme is benchmarked against CRISIL MIP Blended Fund Index and will be managed by Jinesh Gopani (equity) and R Sivakumar (debt). The fund will remain open for subscription from July 27 to August 10.