Axis Multi Asset Allocation Fund

Diversified

Hybrid

India Multi Asset

Others

Aggressive growth Investor Profile

Investor Profile

4–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Axis Multi Asset Allocation Fund Growth mixes stocks and bonds for balanced growth and stability.

What This Strategy Does

Axis Multi Asset Allocation Fund Growth is an equity flexi-cap fund which captures India's ₹200+ trillion diversified opportunity through a multi-asset approach, deploying capital across financials, industrials, and consumer sectors to achieve broad-based earnings growth.

CW Expert Research Notes

Resilient Downside Protection

The fund has demonstrated consistent downside protection across market cycles, outperforming its benchmark in 10 of the past 12 years.

Balanced Multi-Asset Approach

The fund's differentiated multi-asset allocation strategy, with a 67.39% equity tilt complemented by 12.47% bonds and 10.55% other assets, provides a balanced exposure across asset classes.

Diversified Sector Positioning

The fund's sector positioning reflects a diversified approach, with notable exposures to financialServices (36.35%), corporate (32.06%), and government (30.35%) sectors, mitigating concentration risk.

Performance and Risk Analysis

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

Fund Performance

0.0% AnnuallyAlpha

+11.0% vs +9.9% benchmarkSince Inception

+12.9% vs +6.3% benchmark3Y Annualized

+8.3% vs +6.5% benchmark5Y Annualized

Axis Multi Asset Allocation Fund

Benchmark Index

Benchmark Performance Comparison

Axis Multi Asset Allocation Fund

NIFTY 50 + FD Returns

Risk Profile

Standard Deviation12.2%

Maximum Drawdown-9.6% | Oct 2024

Sharpe Ratio0.48

Detailed Risks

Market Risk

Potential recession driven by high inflation could impact consumer demand, testing fund's cyclical exposure.

Liquidity Risk

Significant mid-cap allocation could face liquidity stress during market sell-offs, impacting rebalancing.

Concentration Risk

Concentrated sector bets like financials or IT could amplify downside if earnings disappoint.

Specific Strategy Risk

Regulatory changes to asset allocation rules could disrupt multi-asset strategy execution.

Strategy Details

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

Core Investment Theme

Delivers dynamic asset allocation across equities, bonds, and cash to navigate varying market conditions. This multi-asset approach aims to capture upside during bull markets while providing downside protection during volatility. The impact is smoother returns and lower drawdowns versus a pure equity portfolio.

Broader Market View

Market Outlook

The equity market appears to be in a post-correction recovery phase, offering an attractive entry point as consumption and earnings normalize. Sectors like consumer, financials, and industrials stand to benefit from this revival in domestic demand and capex cycle, though risks like competition and margin pressures persist.

Why This Strategy is Attractive Now

This strategy seems well-positioned with exposure across consumer cyclicals/defensives, financials, and technology. The portfolio's ~70 holdings include market leaders poised to capitalize on the demand recovery. Its balance across growth and stable businesses, moderate beta, and diversification suggest a risk-adjusted stance aligned with the current environment.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, robust profitability, and consistent earnings growth across market cycles.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach focused on market-leading franchises with pricing power and resilient business models could offer a compelling risk-adjusted return profile.

High-Level Investment Process

Sourcing: The strategy appears to source investment candidates from across the market capitalization spectrum, with a tilt towards large and mega-cap companies exhibiting leadership qualities within their respective industries. Selection: The selection process suggests a preference for companies demonstrating sustainable competitive advantages, healthy balance sheets, robust cash flow generation, and attractive growth runways supported by secular tailwinds or disruptive innovations. Construction: Portfolio construction is consistent with a focus on risk management through prudent diversification across sectors and individual positions, while maintaining an overweight to sectors with structural growth drivers.

Portfolio Holdings Overview

SectoralAllocation

Financial Services34.81%

Capital Goods19.91%

Services12.89%

Consumers20.67%

Energy & Infra7.39%

Utilities1.53%

Technology2.81%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Axis Gold ETFUtilities12.11%

HDFC Bank LtdFinancial Services5.42%

Axis Silver ETFUtilities4.65%

ICICI Bank LtdFinancial Services4.08%

Clearing Corporation Of India LtdUtilities3.48%

State Bank of IndiaFinancial Services3.34%

Reliance Industries LtdEnergy & Infra3.26%

Larsen & Toubro LtdCapital Goods3.00%

Bharti Airtel LtdServices2.50%

Net Receivables / (Payables)Utilities2.30%

Fund House Management

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

Fund Manager Track Record

Ashish Naik

Mr. Ashish Naik has experience of 23 years. Manages 24 funds at Axis Asset Management Company Limited with an AUM of approximately ₹36,138 Cr Holds a PGDBM degree.

82 years

Combined Team Experience

₹ 1,97,474 Cr

Assets Under Management

Pratik Tibrewal

Co-Portfolio Manager

Mr. Pratik Tibrewal has experience of 14 years. Manages 23 funds at Axis Asset Management Company Limited with an AUM of approximately ₹1,875 Cr Holds a MBA degree.

Devang Shah

Co-Portfolio Manager

Mr. Devang Shah has experience of 22 years. Manages 261 funds at Axis Asset Management Company Limited with an AUM of approximately ₹16,437 Cr Holds a B.Com degree.

Aditya Pagaria

Co-Portfolio Manager

Mr. Aditya Pagaria has experience of 19 years. Manages 203 funds at Axis Asset Management Company Limited with an AUM of approximately ₹14,583 Cr Holds a PGDBM degree.

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

Pratik Tibrewal

Co-Portfolio Manager

Mr. Pratik Tibrewal has experience of 14 years. Manages 23 funds at Axis Asset Management Company Limited with an AUM of approximately ₹1,875 Cr Holds a MBA degree.

Devang Shah

Co-Portfolio Manager

Mr. Devang Shah has experience of 22 years. Manages 261 funds at Axis Asset Management Company Limited with an AUM of approximately ₹16,437 Cr Holds a B.Com degree.

Aditya Pagaria

Co-Portfolio Manager

Mr. Aditya Pagaria has experience of 19 years. Manages 203 funds at Axis Asset Management Company Limited with an AUM of approximately ₹14,583 Cr Holds a PGDBM degree.

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 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

Axis AMC follows a disciplined investment approach focused on rigorous research.

Risk Management

Risk management is embedded in the investment process through robust controls.

Long-Term Perspective

The fund house maintains a long-term perspective in capital allocation decisions.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)2.6%

Exit Load1

Regulatory & Tax Information

INF846K01768

ISIN

DailyDealing Frequency

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

STCG | <1Year 20%%

Tax Implications (India)