axis credit risk fund

Axis Credit Risk Fund(An open ended debt scheme predominantly investing in AA and below rated corporate

bonds (excluding AA+ rated corporate bonds)

Fixed Income Market Update

2

Month In Review

Source: RBI, Axis MF Research

3

4.66

5.02 5.03 5.06

6.68 6.726.85

5.71

6.05 6.10 6.13

4.00

4.50

5.00

5.50

6.00

6.50

7.00

30-Apr 5-May 10-May 15-May 20-May 25-May 30-May

Rates Saw a Gradual rise This Month Across the Board

AAA PSU - 3 Year 10 Year G-Sec AAA PSU - 10 Year AA - 3 Year

Spread between 3 Year

AAA V/s 3 Year AA

above 100 bps

Spike in corporate bonds on the back

of unscheduled RBI announcement

Rates Unchanged

RBI Policy

Source: RBI, Axis MF Research

4

• Rates unchanged expectantly so.

• Reiterates its commitment to an accommodative stance as long as necessary to revive and sustain growth on a durable basis.

• Addressed inflation concerns giving the markets confidence that it has not taken its eye off inflation figures.

FY22 GDP expectations marked down to 9.5%

• Weakness due to 2nd Wave lockdowns confirmed GDP Weakness

• strong rural demand and a normal monsoon a key positive

SDL’s now part of G-SAP 1.0

• Additional purchase of Rs 40,000 Cr of government securities. includes a sub limit of Rs 10,000 Cr of SDLs

• Positive for SDLs & Corporate Bonds

Fresh Support to All Indian Financial Institutions (AFI’s)

• Additional support of Rs 50,000 Cr to AFI’s to support growth across various grass root sectors as well as the housing sector

• Special liquidity facility has also been provided to SIDBI to promote MSME lending

Sustained Market operations aimed at preventing shocks

RBI Action

Source: RBI, Morgan Stanley, Axis MF Research

Note: Operation Twist is included even though it involves short-term selling alongside long-term buying, because it helps in managing the yield curve. Data for May 2021 as of May 28 5

0

200

400

600

800

1000

Apr-

20

Ma

y-2

0

Jun

-20

Jul-

20

Aug-2

0

Sep-2

0

Oct-

20

No

v-2

0

De

c-2

0

Jan

-21

Feb

-21

Ma

r-21

Apr-

21

Ma

y-2

1*

INR

bn

RBI Continues to Actively Manage Rates Through Various Interventions

Actual OMO Purchases Secondary Market Purchases State Purchases G-SAP Operation Twist

Commodity Prices & Global Interest Rates

Key Risks

6

Source: Bloomberg, Axis MF Research. Data as of 31th May 2021

• As Western economies complete vaccination goals, there is the expectation of a global recovery. This is leading to higher

inflation expectations.

• With the US Fed having stated its preference for an average inflation target, there is the expectation that for some period of time,

inflation may remain above the 2% level. This is causing commodity prices to rally.

• This rise in commodities is quite broad based – spread across energy, metals and food. If it becomes entrenched, it could pose

a new challenge for RBI.

10

20

30

40

50

60

70

80

India Crude Basket (USD)

0.00

0.40

0.80

1.20

1.60

2.00

US 10 Year – At 2 Year Highs

Active Portfolio Management Has helped side step key risks over the last 6 months

Navigating Volatile Markets

7

*Portfolio positioning for funds is based on individual investment mandates. Please refer www.axismf.com for the current portfolio. Past performance may or may not be sustained in the future.

Social EventCovid 2nd WaveThe second wave of covid led to an expectation of a delay in RBI action

and yields dropped (late-March to mid-April. Actively managed funds

capitalized on this by adding duration in a caliberated manner

International Event

Global inflation & RatesThe strong rebound in the global economy

and rising global rates is something markets

will have to contend with over the next few

quarters.

Economic EventBudget 2021Significant increase in gross borrowings which led to yields rising

(Feb to mid-March). Active strategies cut duration in the build up to

budget.

Have Axis MF Funds*

Captured the Opportunity?

http://www.axismf.com/

40

60

80

100

120

140

160

Nov-18 May-19 Nov-19 May-20 Nov-20 May-21

3 Year AA’s trade ~100 bps above comparable AAA’s

Despite

compressions,

yields remain

attractiveSpreads rose as weak

macro drives

downgrade/default risks

• Compression theme evident on select AA names.

• As the economy recovers and corporate balance sheets

show significant improvements, fears of downgrades and

defaults recede.

• AA space make for an attractive carry play for investors

with risk appetite

• Investors must remain vigilant and focus on portfolio

granularity and liquidity while identifying investment

opportunities

Ideal In the Current Environment

Theme # 3 Credits

8

Source: Bloomberg, Axis MF Research, Data as on 31st May 2021

0%

5%

10%

15%

20%

25%

-1.0% -0.5% 0.0% 0.5% 1.0%

Perc

en

t o

f o

utc

om

es

Relative Performance

Return Profile of Credit Risk Funds

Market Event

Understanding Risk is Key to Managing Risk

Managing Credit Risk

9

Source: ACE MF, Axis MF Internal Research. Returns computed represent excess returns over High quality (AAA/AA+) portfolios. Theperiod of research is June 2010 to April 2021. Excess returns are computed basis monthly rolling returns of all credit risk funds in theindustry as of March 2021. Past performance may or may not be sustained in the future.

• Credits as an asset class have the potential to

reward long term investors consistently over long

investment periods

• During normal markets, the credit risk category has

outperformed the short term category

• However, when things go wrong, the under

performance can be stark, as evidenced by the sharp

kink in the left tail

• Key to managing a good credit portfolio is to avoid

mistakes

Normal Market

Conditions

Discipline is the key

Investing in Credits

10

Strategy followed is based on the current market conditions and is subject to changes depending on the fund manager’s view of the markets.

• Cautious at selecting sectors

• Diversifying the exposure to

manage potential risk

• Strict issuer/ rating limits

• Pure ‘carry’ play with buy and

hold approach

• No active duration call in lower

rated papers

• Look at credit exposure only

during favorable valuation

scenario

DiversificationCredit play different

from duration playValuation

True To Label Credit Fund

Axis Credit Risk Fund

11

Investment Strategy

The fund takes advantage of opportunities arising from

the credit spectrum. Some of the strategies that we may

follow are as follows:

o Opportunity from credit spreads between AAA

and AA rated fixed income instruments

o Opportunity from migration of ratings

Our accrual strategies follow 4 main traits

• Diversification

• Self-liquidating nature of portfolios

• Buy when the spreads between AA/A and AAA are

attractive from risk reward perspective

• Buy & Hold approach

We follow a clearly defined process targeting Risk

Approach to ‘Credits’

12

Well researched credit universe

• Based on Liquidity analysis, In-depth review of company financials and regular interactions with the management

Spread the exposure across sectors

• Very cautious at selecting sectors

• Diversifying the exposure to manage potential risk

Lower maturity credits

• Pure accrual play with buy and hold approach

• No active duration call in lower rated papers

Exposure Limits

• Strict internal limits at issuer level and rating level

• An open ended debt scheme predominantly investing in AA and

below rated corporate bonds (excluding AA+ rated corporate bonds)

• Positioned in short to medium term space. Typical maturity range of 2-4 years

• Core book (>70%) in corporate debt instruments while 20-30% is

managed dynamically based on market conditions

• Aims to capture higher yields / spread compression in 2-4 year

corporate bonds

Portfolio Construct


13

Strategy followed is based on the current market conditions and is subject to changes depending on the fund manager’s view of the markets. Please refer to Scheme Information Document (SID) for detailed asset allocation and investment strategy.

• Tight Duration Range (3 years)

• Stringent credit review

• Control credit risk through diversification and strict limits on issuer weighting based on rating

Risk Mitigation Framework

Risk Management

14

Strategy followed is based on the current market conditions and is subject to changes depending on the fund manager’s view of the markets.

Sector

• Controlled through diversification and stringent review of investable sectors;

• Regulatory limits on sector Exposure

Credit

• Focus on High Quality Issuer

• Investment universe based on credit research

Diversification

• Exposure to each issuer limited by its rating

Duration

• Strictly adhere to duration limits specified by the investment mandate & investment policy

Liquidity

• Liquidity/impact cost part of security selection/portfolio construction.

Optimize balance of credit quality, returns and liquidity

Highly Diversified Corporate Bond Portfolio With Tight Position Limits

Portfolio Granularity

15

Data is based on the current market conditions and is subject to changes depending on the fund manager’s view of the markets. Please refer to the factsheet / visit www.axismf.com for full portfolio details of the scheme. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of disclosure of the portfolio of the Scheme(s) and should not be construed as recommendation. The fund manager(s) may or may not choose to hold the stock mentioned, from time to time.

Top 10 Non-AAA constitute 35 percent of the portfolio. Total non-AAA exposure is 59%

Top 10 Non- AAA exposures (31st May 2021)

Top 10 sub AAA holdings Rating Total

Bahadur Chand Investments Pvt Limited ICRA AA 4.81%

Nuvoco Vistas Corporation Limited CRISIL AA 4.05%

Nirma Limited CRISIL AA- 3.99%

Narmada Wind Energy Private Limited (NCDs backed by cashflows of operating renewable energy) CARE A+(CE) 3.74%

Tata Steel Limited BWR AA 3.44%

Godrej Industries Limited CRISIL AA 3.21%

PVR Limited CRISIL AA- 3.16%

Shining Metal Trust I - PTCs backed by gold loan receivables originated by IIFL Finance Ltd ICRA A1+(SO) 3.02%

Tata Power Company Limited CRISIL AA 2.64%

Aadhar Housing Finance Limited CARE AA 2.45%

• Credit exposure is typically through short tenor instruments with frequent resets. This ensures frequent liquidity events in the portfolio

• Duration management is achieved through exposure in Sovereign/AAA Securities

Endeavour to build Self Liquidating Credit Portfolios

Maturity Profile & Rating Transition

16

Strategy followed & Target Range is based on the current market conditions and is subject to changes depending on the fund manager’s view of the markets. $AAA & Equivalent includes SOV, AAA/A1+ rated papers.

Rating31st May

2021Target

Sovereign/

AAA$33% 30-40%

AA(+/-) 46% 50-60%

A(+/-) 11% 10-20%

18.4%

41.7%

32.0%

5.0%

0-1 year 1-3 years 3-7 years 7-10 years

Maturity Mix (30th Apr 2021)

Upgrades Downgrades

Edelweiss Commodities Limited (CRISIL AA- to CRISIL AA) Vodafone India (IND AAA to IND AA+)

IIFL Finance Limited (CRISIL AA- to CRISIL AA) Tata Power Company Limited (ICRA AA to ICRA AA-)

Hinduja Leyland Finance Limited (CARE A+ to CARE AA-) IDFC Bank Limited (IND AAA to IND AA+;other rating ICRA AAA)

Indiabulls Housing Finance Limited (CRISIL AA+ to CRISIL AAA) JK Lakshmi Cement (CARE AA to CARE AA-)

Solstice Trust (A to AA-) Hansdeep Industries & Trading (CARE AA (SO) to CARE AA- (SO))

Cholamandalam Investment & Finance (ICRA AA to ICRA AA+) Bharti Airtel (CRISIL AA+ to CRISIL AA)

Yes Bank Limited CARE AA+ to CARE AAA (other rating ICRA AA+) Dewan Housing (AA- to A)

Ess Kay Fincorp Limited CARE BBB+ to IND A (SO) PNB (AA- to A+)

Jubilant Life Sciences Limited CRISIL AA (earlier rated IND AA-) Syndicate Bank (AA- to A+)

SREI Equipment Finance Limited CARE AA- to CARE AA Edelweiss Rural and Corporate Services Limited (CARE AA- to CARE A+

Tata Capital & Tata Capital Housing : CRISIL AA+ to CRISIL AAA IDFC First Bank Limited (CARE AA+ to CARE AA)

Solstice Trust : ICRA A+ to ICRA AA-

Piramal Housing and Capital :ICRA AA to ICRA AA+

Aditya Birla Housing Finance :ICRA AA+ to ICRA AAA

Jubilant Life Sciences: IND AA- to IND AA

Subros Limited: ICRA A+ to ICRA AA-

Zenith Trust: A-(SO) to ICRA A(SO)

L & T Finance (AA+ to AAA)

NRB Bearings (AA- to AA-/Positive)

JSW Steel (AA- to AA)

Punjab National Bank (AT1 bonds rating CARE A+ to CARE AA-)

Key upgrades & downgrades in the portfolio since inception

Rating Changes

17

Source: ICRA, CRISIL. Past performance may or may not be sustained in future. Data as of 31st May 2021

Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of disclosure of the portfolio of the Scheme(s) and should not be construed as recommendation. The fund manager(s) may or may not choose to hold the stock mentioned, from time to time.

31st May 2021

Performance

18

Past performance may or may not be sustained in future. Since inception (15th July 2014). Different plans have different expense structure. Devang Shah is managing the scheme sinceinception and he manages 20 schemes. Dhaval Patel is managing the scheme since 4th September 2020 and he manages 2 schemes. Returns greater than 1 year are Compounded AnnualGrowth Rates (CAGR).Face value Rs.10 per unit. Please refer return table for performance of all schemes managed by the fund manager.

1 Year 3 Year 5 Year Since Inception

CAGR

(%)

Current Value

of investment

of Rs. 10,000

CAGR

(%)

Current Value

of investment

of Rs.10,000

CAGR

(%)

Current Value

of investment

of Rs. 10,000

CAGR

(%)

Current Value

of investment

of Rs. 10,000

Axis Credit Risk Fund - Regular

Plan - Growth8.78% 10,883 6.64% 12,128 6.73% 13,854 7.58% 16,530

NIFTY Credit Risk Bond Index

(Benchmark)10.49% 11,055 9.59% 13,166 8.89% 15,315 9.36% 18,509

NIFTY 10 yr Benchmark G-Sec

(Additional Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 8.23% 17,239

Refer slide 24 for disclaimer.

Annexures, Disclaimers & Risk Factors

19

Return of schemes managed by Devang Shah (Total Schemes Managed: 20 Schemes) (As on 31st May 2021)

Fund NameDate of

inception

1 Year 3 Years@ 5 Years@@ Since Inception

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

Axis Credit Risk Fund - Regular Plan - Growth

15-Jul-14

8.78% 10,883 6.64% 12,128 6.73% 13,854 7.58% 16,530

NIFTY Credit Risk Bond Index (Benchmark) 10.49% 11,055 9.59% 13,166 8.89% 15,315 9.36% 18,509

NIFTY 10 yr Benchmark G-Sec (Additional

Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 8.23% 17,239

Axis Credit Risk Fund - Direct Plan - Growth

15-Jul-14

9.96% 11,002 7.84% 12,545 8.05% 14,731 8.81% 17,882



Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 8.23% 17,239

SEBI Prescribed Performance Annexures

Annexure

20Refer slide 25 for disclaimer.


Annexure


Return of schemes managed by Devang Shah (Total Schemes Managed: 20 Schemes) (As on 31st May 2021)

Fund NameDate of

inception


CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

Top 3 Schemes

Axis Regular Saver Fund - Regular Plan - Growth

16-Jul-10

18.55% 11,866 7.00% 12,254 7.28% 14,212 7.94% 22,968

NIFTY 50 Hybrid Short Duration Debt 25:75 Index

(Benchmark)19.47% 11,959 10.72% 13,577 10.11% 16,193 9.51% 26,887


Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 7.01% 20,895

Axis Regular Saver Fund - Direct Plan - Growth

04-Jan-13

19.87% 11,998 8.07% 12,626 8.48% 15,029 9.60% 21,620

NIFTY 50 Hybrid Short Duration Debt 25:75 Index

(Benchmark)19.47% 11,959 10.72% 13,577 10.11% 16,193 9.89% 22,103


Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 7.14% 17,853

Axis Fixed Term Plan - Series 96 (1124D) - Regular

Plan - Growth

03-Sep-18

9.48% 10,953 NA NA NA NA 5.37% 11,542

50% CRISIL Composite Bond Fund Index + 50%

CRISIL Short Term Bond Fund Index (Benchmark)6.65% 10,669 NA NA NA NA 9.71% 12,895


Benchmark)3.39% 10,341 NA NA NA NA 9.63% 12,868

Axis Fixed Term Plan - Series 96 (1124D) - Direct

Plan - Growth

03-Sep-18

9.80% 10,986 NA NA NA NA 5.67% 11,634





Axis Fixed Term Plan - Series 97 (1116D) - Regular

Plan - Growth

11-Sep-18

9.00% 10,905 NA NA NA NA 6.51% 11,872





Axis Fixed Term Plan - Series 97 (1116D) - Direct

Plan - Growth

11-Sep-18

9.22% 10,927 NA NA NA NA 6.72% 11,935





Fund NameDate of

inception


CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

Bottom 3 Schemes

Axis Liquid Fund - Regular Plan - Growth

09-Oct-09

3.24% 10,324 5.55% 11,760 6.11% 13,452 7.35% 22,846

NIFTY Liquid Index (Benchmark) 3.47% 10,347 5.51% 11,748 6.00% 13,385 7.30% 22,711

NIFTY 1 Year T-Bill Index (Additional

Benchmark)4.07% 10,407 6.64% 12,128 6.66% 13,805 6.76% 21,421

Axis Liquid Fund - Direct Plan - Growth

31-Dec-12

3.31% 10,331 5.61% 11,781 6.17% 13,495 7.26% 18,044



Benchmark)4.07% 10,407 6.64% 12,128 6.66% 13,805 7.20% 17,956

Axis Liquid Fund - Retail Plan - Growth

01-Mar-10

2.72% 10,272 5.03% 11,587 5.56% 13,108 6.97% 21,351



Benchmark)4.07% 10,407 6.64% 12,128 6.66% 13,805 6.86% 21,112

Axis Arbitrage Fund - Regular Plan - Growth

14-Aug-14

2.70% 10,271 5.02% 11,583 5.50% 13,074 5.89% 14,762

Nifty 50 Arbitrage Index (Benchmark) 2.85% 10,287 4.63% 11,456 4.82% 12,657 5.47% 14,367


Benchmark)4.07% 10,409 6.64% 12,128 6.66% 13,805 7.11% 15,956


Annexure


Fund NameDate of

inception


CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

Bottom 3 Schemes

Axis Arbitrage Fund - Direct Plan -Growth

14-Aug-14

3.48% 10,349 5.80% 11,844 6.32% 13,589 6.74% 15,580

Nifty 50 Arbitrage Index (Benchmark) 2.85% 10,287 4.63% 11,456 4.82% 12,657 5.47% 14,367

NIFTY 1 Year T-Bill Index (Additional Benchmark)

4.07% 10,409 6.64% 12,128 6.66% 13,805 7.11% 15,956

Axis Gold ETF10-Nov-10

2.54% 10,255 15.26% 15,318 9.27% 15,578 7.22% 20,882

Domestic Price of Gold (Benchmark) 5.66% 10,569 16.18% 15,690 11.13% 16,958 7.83% 22,166


Annexure


Return of schemes managed by Dhaval Patel (Total Schemes Managed: 2 Scheme) (As on 31st May 2021)

Fund NameDate of

inception


CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

CAGR

(%)

Current

Value of

Investment

of Rs. 10,000/-

Axis Strategic Bond Fund - Regular Plan -

Growth

28-Mar-12

8.74% 10,879 8.20% 12,669 8.24% 14,861 8.66% 21,436

NIFTY Medium Duration Debt Index

(Benchmark)8.33% 10,838 9.94% 13,293 8.58% 15,093 9.00% 22,058


Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 7.62% 19,620

Axis Strategic Bond Fund - Direct Plan -

Growth

07-Jan-13

9.51% 10,957 8.93% 12,928 8.96% 15,362 9.30% 21,100

NIFTY Medium Duration Debt Index

(Benchmark)8.33% 10,838 9.94% 13,293 8.58% 15,093 8.71% 20,163


Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 7.11% 17,806

Axis Credit Risk Fund - Regular Plan - Growth

15-Jul-14

8.78% 10,883 6.64% 12,128 6.73% 13,854 7.58% 16,530



Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 8.23% 17,239

Axis Credit Risk Fund - Direct Plan - Growth

15-Jul-14

9.96% 11,002 7.84% 12,545 8.05% 14,731 8.81% 17,882



Benchmark)3.39% 10,341 9.07% 12,978 7.18% 14,145 8.23% 17,239


Annexure


Past Performance may or may not be sustained in future.

@The performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 years. @@The performance data for 5years period has not been provided, since scheme is in existence for less than 5 years.

Data As on 31st May 2021.

Calculations are based on Regular Plan - Growth Option NAV and Direct Plan – Growth Option NAV, as applicable. Face Value per unit : Rs. 1,000/- for AxisLiquid Fund, Axis Treasury Advantage Fund, Axis Money Market Fund, Axis Overnight Fund and Axis Banking & PSU Debt Fund, Rs. 1/- for Axis Gold ETF andRs. 10/- for all other schemes. Different plans have different expense structure. Face value is Rs. 10 per unit.

The above data excludes performance of Fixed Maturity Plans and all the schemes which have not completed a year. Top 3 and Bottom 3 schemes (based on 1year performance) managed by Devang Shah has been provided herein.

Devang Shah is managing Axis Liquid Fund, Axis Dynamic Bond Fund, Axis Gilt Fund , Axis Money Market Fund, Axis Strategic Bond Fund and Axis Short TermFund, Axis Credit Risk Fund and Axis Arbitrage Fund since inception and Axis Treasury Advantage Fund and Axis Regular Saver Fund (Debt portion), Axis GoldFund, Axis Gold ETF , all Axis Fixed Term Plans since 7th June, 2016 (since inception date for Axis Fixed Term Plans launched after 7th June, 2016) and AxisCorporate Debt Fund since 13th July 2017.

Dhaval Patel is managing Axis Strategic Bond Fund since 1st June 2018 and Axis Credit Risk Fund since 4th September 2020.

Performance disclaimer

25

Fund Name Riskometer Product Labelling

Axis Liquid Fund

(An open ended liquid scheme)

This product is suitable for investors who are seeking*

Regular income over short term

Investment in debt and money market instruments


(An open ended debt scheme predominantly

investing in AA and below rated corporate bonds

(excluding AA+ rated corporate bonds)

This product is suitable for investors who are seeking*:

• Stable returns in the short to medium term

• Investment in debt and money market instruments

across the yield curve and credit spectrum.

Axis Arbitrage Fund

(An open ended scheme investing in arbitrage

opportunities)


Income over short to medium term

Investment in arbitrage opportunities in the cash &

derivatives segment of the equity market

Product Labelling

26*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


Axis Gold ETF

(An open ended scheme replicating/tracking

Domestic Price of Gold)


• Capital Appreciation over medium to long term

• Invests predominantly in gold in order to generate

returns similar to the performance of gold, subject to

tracking error

Axis Fixed Term Plan - Series 96 (1124 Days)

(A Close ended debt scheme)


Optimal returns over 1124 Days


maturing on or before the maturity of the scheme

Axis Regular Saver Fund

(An open ended hybrid scheme investing

predominantly in debt instruments)


Capital appreciation while generating income over

medium to long term .


as well as equity and equity related instruments .

Product Labelling

27

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


Axis Fixed Term Plan - Series 97 (1116 Days)

(A Close ended debt scheme)


Optimal returns over 1116 Days


maturing on or before the maturity of the scheme

Axis Strategic Bond Fund

(An open ended medium term debt scheme

investing in instruments such that the Macaulay

duration of the portfolio is between 3 years to 4

years)


• Optimal returns over medium term

• Investment in diversified portfolio of debt and money

market securities to generate optimal risk adjusted

returns while maintaining liquidity.

Product Labelling

28*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Data updated As on 31st May 2021

Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose ofdisclosure of the portfolio of the Scheme(s) and should not be construed as recommendation. The fund manager(s) may or may notchoose to hold the stock mentioned, from time to time.

Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd.(liability restricted to Rs. 1 Lakh). Trustee: Axis Mutual Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (theAMC). Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of the scheme. Thisdocument represents the views of Axis Asset Management Co. Ltd. and must not be taken as the basis for an investment decision.Neither Axis Mutual Fund, Axis Mutual Fund Trustee Limited nor Axis Asset Management Company Limited, its Directors or associatesshall be liable for any damages including lost revenue or lost profits that may arise from the use of the information contained herein. Norepresentation or warranty is made as to the accuracy, completeness or fairness of the information and opinions contained herein. TheAMC reserves the right to make modifications and alterations to this statement as may be required from time to time.

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

Statutory Details and Risk Factors

29

Thank You

axis credit risk fund

Documents