There is a high dispersion in long term stock performance

2

Variation in top and bottom stocks over the last 10 years

% CAGR (CY 08-18)

BSE 100 index 14.5

Top quartile 26.2

Bottom quartile (15.9)

Our strategy relies on bottom up selection of quality companies that can deliver sustainable growth

Source: Bloomberg, Past performance may or may not be sustained in future. Data as on 31st Dec 2018

Weak companies have

destroyed significant

investor wealth

Large dispersion in sector specific earnings

3

Active sector allocation is key to alpha generation

Source: Kotak Institutional Equities

EPS Growth (%)

FY13 FY14 FY15 FY16 FY17 FY18

Automobiles (11.4) 23.5 1.3 13.2 (4.7) (1)

Banking 21.9 6.0 14.6 (12.6) 16.9 (17)

Cement 14.6 (28.3) 3.5 (6.5) 13.1 (4)

Consumers 21.5 13.7 10.1 1.6 8.2 13

Energy (3.9) 8.5 (12.8) 13.8 42.4 (0)

Industrials 3.9 (7.2) (28.2) 26.8 43.0 22

Infrastructure 42.2 12.0 (29.9) 137.6 35.0 6

Media 22.2 22.4 (5.5) 25.9 27.7 8

Metals & Mining 20.6 (7.2) (20.8) (25.8) 45.5 24

Pharmaceuticals 39.3 51.7 (0.6) 8.6 5.4 (34)

Technology 22.7 32.6 7.8 9.5 9.3 1

Telecom (37.4) 46.9 89.5 (21.7) 4.4 (27)

Utilities 19.7 (2.2) (4.4) 13.9 14.6 (0)

Nifty-50 Index 9.7 11.4 0.3 2.7 19.3 9

We offer a tight basket of clearly positioned equity funds

Note: Current Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the equity markets. ^Open-ended Equity-Linked Savings Scheme

with a 3 year lock in. The bubbles in the chart are proportionate to their sizes respectivelyMarket caps are defined as per SEBI regulations as below: a. Large Cap: 1st -100th company in terms of full market

capitalization. b. Mid Cap: 101st -250th company in terms of full market capitalization. c. Small Cap: 251st company onwards in terms of full market capitalization. For type of scheme for the above schemes, please

refer to slide 15 and 16.

Active Risk

Axis Long

Term Equity

Fund^

Axis Midcap Fund

Axis

Bluechip

Fund

Axis

Focused 25

Fund

Axis Small Cap Fund

Large Cap: 50 - 100%

Mid Cap: Max 50%

>65% in Midcaps

>90% in top 200 companies by

market cap

Large Cap: 80 - 100%

Active

Re

turn

s Small caps

Axis

Multicap

FundLarge Cap: 50 - 100%

Mid Cap: Max 50%

Large Cap

Focused

ELSS

Multicap

Midcap

Smallcap

Axis Growth Opportunities Fund

Large Cap: 35 - 65%

Mid Cap: 35 - 65%

Large & Midcap

Axis Bluechip Fund: Positioning

5

1

2

3

Large cap companies (80-100%)with other companies (0-20%)

The Scheme will invest predominantly in Equity and

Equity Related Instruments of Large Cap companies.

Risk managementembedded in the investment process

Relatively liquid portfolio

Targets volatility below benchmark (Nifty)

Pure bottom up stock picking

focusing on fundamentals

Maintains a core portfolio of quality businesses

with secular growth prospects

Takes tactical positions in quality cyclicals linked

to fund manager views of cyclical factors and

market positioning

Note: Current Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the equity markets. Market caps are defined as per SEBI regulations

as below: a. Large Cap: 1st -100th company in terms of full market capitalization. b. Mid Cap: 101st -250th company in terms of full market capitalization. c. Small Cap: 251st company onwards in terms of full market

capitalization.

Large cap biased: Reducing midcap exposure

6

Note: Current Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the equity markets. Market caps are defined as per SEBI regulations

as below: a. Large Cap: 1st -100th company in terms of full market capitalization. b. Mid Cap: 101st -250th company in terms of full market capitalization. c. Small Cap: 251st company onwards in terms of full market

capitalization.

Average Large Cap exposure

over 2 years: 83%

Large Cap

75%

80%

85%

90%

95%

100%

Dec-16 Jun-17 Dec-17 Jun-18 Dec-18

Large Cap Midcap Small Cap

Mid Cap

Large Cap

Average Large Cap exposure over 2

years: 83%

What do we mean by quality businesses?

7

Strong competitive

positioning

Cash flow generating with

sound balance sheet

Credible management team Sustainable Growth Potential

Current Investment Focus

8

~ 60% leaders

Companies which operate in secular growth segment and has leading market share in their areas of operation.

~ 40% Challengers

Companies that are gaining markets share due to differentiated offering or cost advantage, in large sectors.

Expected to

deliver

alpha

Expected

to provide

steady

returns

The investment focus of the fund is subject to change on the discretion of the fund manager. The investment strategy of the fund will be in line with the strategy laid out in the scheme information document. For

complete details on the scheme investment strategy refer the scheme information document.

Changes made to the portfolio over the 1 year (31st Dec 18)

Portfolio Characteristics Dec 17 Dec 18

Matched Portfolio 44% 45%

No. of Stocks 36 23

Market Cap MixLarge Cap – 92%

Midcap – 3%

Largecap – 81%

Midcap – 1%

Top 10 stocks (% of portfolio) 54% 55%

Top stocks with increased

exposure/entries

Change in exposure

(%) over last year

Top stocks with reduced

exposure/ exits

Change in

exposure (%) over

year

Tata Consultancy Services Ltd 5.0% Page Industries Ltd -3.9%

Bajaj Finance Ltd 3.4% Maruti Suzuki India Ltd -3.7%

Titan Company Limited 3.1%Housing Development Finance

Corporation Ltd-3.6%

Bandhan Bank Limited 3.0% Bharti Airtel Ltd -3.3%

Nestle India Ltd 2.8% Endurance Technologies Limited -2.6%

Source : ValueFY, ACEMF. Note: Current Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the equity marketsMarket caps are

defined as per SEBI regulations as below: a. Large Cap: 1st -100th company in terms of full market capitalization. b. Mid Cap: 101st -250th company in terms of full market capitalization. c. Small Cap: 251st

company onwards in terms of full market capitalization. Past performance may or may not be sustained in the future. Stock(s) / Issuer(s)/ Top stocks with increased or decreased exposure mentioned above are for

the purpose of disclosure of the portfolio of the Scheme(s) and should not be construed as recommendation to buy/sell/ hold. The fund manager(s) may or may not choose to hold the stock mentioned, from time to

time.

Sector-wise positioning (31st Dec 18)

10

Source IISL, Axis MF Research The benchmark for the scheme is NIFTY 50. 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. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s).

-10%

-4%

-3%

-3%

-2%

-2%

-1%

-1%

-1%

-1%

-1%

1%

1%

8%

Oil & Gas

Metal,Metal Products & Mining

Infrastructure & Power

Information Technology

Autos & Logistics

Capital Goods, Engineering & Construction

Telecom

Healthcare Services

Cement & Building Materials

Agro Inputs & Chemicals

Media & Publishing

Finance

Others

Consumer

Sector Overweight/Underweight

Current Portfolio & Risk Parameters (31st Dec 18)

*Note: Current Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the equity markets. Past performance may or may not be sustained

in the future. 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. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s).

11

Risk parameters (3 years)Top 5 sector holdings

Top 10 stocks Current market cap split (% NAV)

Performance

12

SIP Performance as on Dec 31, 2018

13

Axis Bluechip Fund – Growth (Inception: 5th Jan 2010)

SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested 1,070,000 600,000 360,000 120,000

Market value as on December 31, 2018 1,961,117 812,201 439,479 123,157

Returns (Annualised) % 13.14% 12.06% 13.39% 4.91%

Benchmark Returns (Annualised) % 11.30% 10.67% 11.67% 2.97%

Additional Benchmark Returns (Annualised) % 11.55% 11.09% 12.92% 4.75%

Past performance may or may not be sustained in future.

To illustrate the advantage of SIP investments, this is how your investment would have grown if you had invested say Rs. 10,000 systematically on the first business day of every month

over a period of time. Calculations are based on Growth Option NAV. Since inception returns are calculated at Rs. 10 invested at inception. Different plans have different expense

structure. Plan of the scheme for which performance is given is indicated above. Returns greater than 1 year period are compounded annualized.

SIP returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return). Benchmark: Nifty 50. Additional Benchmark: S&P BSE Sensex.

Inception Date: Jan 05, 2010.

This scheme is managed by Shreyash Devalkar. He is managing the scheme since 23rd November 2016 and he manages 5 schemes of Axis Mutual Fund. Please refer to the

Annexure for returns of all the schemes managed by him.

14

Past performance may or may not be sustained in future. Data as on 31st Dec, 2018. @@The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. @The

performance data for 3 years period has not been provided for scheme/plan not in existence for 3 years. Calculations are based on Growth Option NAV. Since inception returns are calculated on Rs. 10/-

invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Above data excludes returns of schemes which have not completed

a year. Shreyash Devalkar is managing Axis Bluechip Fund and Axis Midcap Fund since 23rd November 2016, Axis Equity Advantage Fund - Series 1 & 2 & Axis Multicap Fund since inception.

Product Labelling

Fund Name Riskometer Product Labelling

Axis Bluechip Fund

(An open ended equity scheme predominantly

investing in large cap stocks)

This product is suitable for investors who are seeking*

• Capital appreciation over long term

• Investment in a diversified portfolio predominantly

consisting of equity and equity related instruments

of large cap companies

Axis Multicap Fund

(An open ended equity scheme investing across

large cap, mid cap, small cap stocks)

This product is suitable for investors who are seeking*

• Capital appreciation over medium to long term

• Investment in a diversified portfolio consisting of

equity and equity related instruments across market

capitalization.

This product is suitable for investors who are seeking*

• Capital appreciation over long term

• Investing predominantly in equity & equity related

instruments of Mid Cap companies.

Axis Midcap Fund

(An open ended equity scheme predominantly

investing in Mid Cap stocks)

Axis Small Cap Fund

(An open ended equity scheme predominantly

investing in small cap stocks)

This product is suitable for investors who are seeking*

• Capital appreciation over long term

• Investment in a diversified portfolio of equity and

equity related instruments of small cap companies

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

Product Labelling

Fund Name Riskometer Product Labelling

Axis Focused 25 Fund

(An open ended equity scheme investing in

maximum 25 stocks investing in large cap, mid cap

and small cap companies.)

This product is suitable for investors who are seeking*

• Capital appreciation over long term

• Investment in a concentrated portfolio of equity &

equity related instruments of up to 25 companies

Axis Long Term Equity Fund

(An open ended equity linked saving scheme with a

statutory lock in of 3 years and tax benefit)

This product is suitable for investors who are seeking*

• Capital appreciation & generating income over long

term

• Investment in a diversified portfolio predominantly

consisting of equity and equity related instruments.

This product is suitable for investors who are seeking*

• Capital appreciation over medium to long term

• Investment in a diversified portfolio of predominantly

equity and equity related instruments across market

cap while managing risk through active hedging

strategies

Axis Equity Advantage Fund Sr 1 & 2

(A Close Ended Equity Scheme)

Axis Growth Opportunities Fund

(An Open-ended Equity Scheme investing in both

large cap and mid cap stocks)

This product is suitable for investors who are seeking*:

• capital appreciation over long term

• investment in a diversified portfolio predominantly

consisting of equity and equity related instruments

both in India as well as overseas

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

Statutory Details and Risk Factors

17

Data updated as on 31st Dec 2018.

Disclaimer: Past performance may or may not be sustained in the future. 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.

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. (the

AMC). Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of the scheme.

This document 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 associates

shall be liable for any damages including lost revenue or lost profits that may arise from the use of the information contained herein. No

representation or warranty is made as to the accuracy, completeness or fairness of the information and opinions contained herein. The

AMC reserves the right to make modifications and alterations to this statement as may be required from time to time.

Scheme specific risk factors: Apart from the risks associated with domestic investments, the scheme may invest in overseas markets

which carry risks related to fluctuations in the foreign exchange rates, the nature of the securities market of the country, repatriation of

capital due to exchange controls and political circumstances. Investors are requested to consult their financial, tax and other advisors

before taking any investment decision(s). The material should not be construed as issued by Government of India or any of its

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

Thank You