Axis Large Cap Fund

Diversified

Equity

India Defensive

Large Cap

Others

Aggressive growth Investor Profile

Investor Profile

1–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Axis Bluechip Fund Growth invests in large, stable Indian companies for steady long-term growth.

What This Strategy Does

Axis Large Cap Fund Growth is an equity fund which captures India's large-cap opportunity through a research-intensive approach focused on relative growth and quality, deploying capital across financials, consumer discretionary, and technology sectors to achieve broad-based earnings growth.

CW Expert Research Notes

Consistent Growth Compounding

The fund has demonstrated resilient benchmark-relative performance, outperforming in 4 out of the last 12 years, by adhering to a disciplined process focused on identifying high-quality companies with sustainable growth trajectories.

Differentiated Portfolio Construction

The fund's portfolio is constructed through a bottom-up approach, with a bias towards business-to-consumer companies exhibiting superior return on equity, return on capital employed, and free cash flow generation, resulting in overweight positions in sectors like financials and consumer discretionary.

Defensive Growth Orientation

With a focus on quality and growth at reasonable valuations, the fund is expected to exhibit lower volatility during market corrections while participating in structural growth trends, making it a suitable portfolio diversifier.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

-3.4% AnnuallyAlpha

+10.5% vs +9.9% benchmarkSince Inception

+8.5% vs +6.3% benchmark3Y Annualized

+5.1% vs +6.5% benchmark5Y Annualized

Axis Large Cap Fund

Benchmark Index

Benchmark Performance Comparison

Axis Bluechip Fund

NIFTY 50

Risk Profile

Standard Deviation13.7%

Maximum Drawdown-14.5% | Oct 2024

Sharpe Ratio-0.79

Beta0.91

Upside Capture88%

Detailed Risks

Market Risk

Potential recession or demand contraction in India could undermine large-cap earnings.

Liquidity Risk

Concentrated large-cap exposure could face liquidity stress during volatility spikes.

Concentration Risk

Significant sector concentration in financials or IT exposes fund to idiosyncratic risks.

Specific Strategy Risk

Regulatory changes impacting key sectors or tax policy could pressure holdings.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Provides portfolio stability through exposure to India's most resilient large-cap businesses—companies that have demonstrated the ability to grow earnings across economic cycles. These market leaders typically reinvest cash flows into sustainable competitive moats, translating into steady wealth creation without dramatic volatility. The impact is lower downside risk and predictable compounding over the long term. Suitable for investors seeking defensive growth with reduced cyclicality.

Broader Market View

Market Outlook

Equity markets appear poised for a recovery phase, with consumption and earnings normalization supporting an attractive entry point. Sectors like consumer, financials and industrials stand to benefit from domestic demand revival and capex growth, though risks like margin pressures remain.

Why This Strategy is Attractive Now

This strategy seems well-aligned with the current environment, offering exposure to consumer cyclicals, financials and technology leaders across around 70 holdings. The balanced approach combining growth and stability, coupled with moderate risk metrics, positions it to potentially capitalize on the recovery.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach can provide exposure to companies with resilient business models and pricing power.

High-Level Investment Process

Sourcing: The strategy appears to focus on companies with strong franchises, sustainable growth drivers, and attractive profitability profiles. Selection: The process suggests a preference for businesses with competitive moats, capable management teams, and reasonable valuations relative to growth prospects. Construction: Portfolio construction is consistent with managing exposures across sectors while maintaining a bias towards quality growth characteristics.

Portfolio Holdings Overview

SectoralAllocation

Capital Goods14.98%

Financial Services36.58%

Consumers18.16%

Energy & Infra6.09%

Services13.87%

Utilities1.69%

Technology8.64%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Clearing Corporation Of India LtdUtilities9.08%

ICICI Bank LtdFinancial Services8.84%

HDFC Bank LtdFinancial Services7.71%

Reliance Industries LtdEnergy & Infra5.08%

Infosys LtdTechnology4.81%

Bharti Airtel LtdServices4.73%

Larsen & Toubro LtdCapital Goods4.37%

State Bank of IndiaFinancial Services4.16%

Mahindra & Mahindra LtdConsumers3.51%

Kotak Mahindra Bank LtdFinancial Services3.47%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Shreyash Devalkar

Mr. Shreyash Devalkar has experience of 18 years. Manages 36 funds at Axis Asset Management Company Limited with an AUM of approximately ₹1,15,152 Cr Holds a MMS degree.

28 years

Combined Team Experience

₹ 2,77,148 Cr

Assets Under Management

Jayesh Sundar

Co-Portfolio Manager

Jayesh Sundar has experience of 8 years. Manages 62 funds at Axis Asset Management Company Limited with an AUM of approximately ₹33,556 Cr

Krishnaa N

Co-Portfolio Manager

Krishnaa N has experience of 2 years. Manages 158 funds at Axis Asset Management Company Limited with an AUM of approximately ₹1,28,440 Cr

CW Expert Take

Axis AMC operates with entrepreneurial agility despite institutional backing. Their investment philosophy emphasizes quality compounding in equities and prudent credit selection in debt. The fund house has built focused expertise rather than chasing asset gathering, resulting in concentrated portfolios with high-conviction ideas.

Firm Overview

Total AUM₹3,61,984.16 Cr

Investment Philosophy & Approach

Disciplined Approach

Follows a consistent, research-driven process focused on relative growth and quality.

Balanced Portfolio

Constructs a benchmark-agnostic portfolio with leaders and challengers for alpha generation.

Risk Management

Emphasizes risk management through diversification and a focus on high-conviction ideas.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)1.6%

Exit Load1

Regulatory & Tax Information

INF846K01164

ISIN

DailyDealing Frequency

BSE 100 India TR INRBenchmark

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)