October

January2022
2024

AXIS ELSS TAX SAVER FUND*

An Open Ended Equity Linked Savings Scheme With A Statutory Lock In Of 3 Years And Tax Benefit
*With effect from Dec 08, 2023, the name of the fund has been changed to Axis ELSS Tax Saver Fund

About the Fund

The fund looks at opportunities across the market cap and

the portfolio remains balanced between its large and
mid-cap allocations. Open-ended Invests across market Invests in quality 3 year lock-in eliminates
Equity-Linked Savings cap~ Large caps around businesses for the long near term pressure on
The fund is focused on long term earnings growth Scheme with a 3 year lock 50-100% and midcaps term through bottom up stock selection
up to 50% stock picking
prospects and quality as key criteria for stock selection. in Offers tax benefit under
section 80C of the Income
Tax Act, 1961

#
The above framework is broadly indicative and the fund manager may change the framework depending on the market conditions

Why Axis ELSS Tax Saver Fund? Fund Manager Views

High quality leaders, solid growth, impeccable Markets have been witnessing bouts of consolidation and this will
We Invest
execution, strong finances especially decent Operating likely continue in the near term. Investors should be mindful of the
in
Cash Flows and less geared volatility seen in the mid and small caps. This segment has more
representation of B2B companies having exposure to investment and
exports part of economy. Underperformance of consumption
compared to investments and exports has helped the rally in
mid-small cap so far. With expectations of a global slowdown, this
We Avoid Highly cyclical and highly regulated sectors could be impacted, although investment part of economy could
continue to do well.
We have always suggested to our investors to stay invested in the
markets and use the bouts of volatility as opportunities to increase
exposure to the markets. . Overall, India’s growth story remains one
Stringent benchmark agnostic stock selection, compact of resilience compared to its regional peers and this will limit the
Result portfolio reflecting high conviction, long holding periods downside despite a cyclical slowdown.
Corporate earnings of our portfolio companies continue to give us
confidence in the strength of our portfolio companies.
Over the last year, we have diversified our portfolios from
Bottom up portfolio aiming to deliver steady and consistent returns for concentrated holdings to a broader number which has led to a wider
investors exposure across sectors. The rationale being that the market offers
lot more opportunities more so in niche holdings.
Past performance may or may not be sustained in the future. 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.

Top 10 Stocks Top 10 Sectors

Tata Consultancy Services Limited 7.1% Financial Services 23.1%

Bajaj Finance Limited 6.3% Consumer Services 14.2%
Torrent Power Limited 6.1% Information Technology 10.3%
Avenue Supermarts Limited 5.6% Healthcare 9.3%
Nestle India Limited 5.1% Automobile and Auto Components 9.2%
Info Edge (India) Limited 4.8% Chemicals 7.8%
HDFC Bank Limited 4.5% Power 6.1%
Divi's Laboratories Limited 4.0% Fast Moving Consumer Goods 5.1%
Pidilite Industries Limited 3.9% Capital Goods 4.1%
Cholamandalam Investment and 3.8% Construction Materials 2.7%
Finance Company Ltd

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.
 Investing Facts

Lumpsum ` 500
& multiples of ` 500
Minimum SIP Fund Manager
Category Inception Date Benchmark ` 500
Application
ELSS 29th December Nifty 500 TRI SIP - Systematic
& multiples of ` 1
2009
Investment Plan
Shreyash Devalkar
19 years of experience in financial
markets. He has been managing this
fund since 4th August 2023.

Nil
Options AUM Entry Load Ashish Naik
Exit Load 15 years of experience. He has
Growth & IDCW@ ` 33,526.42 cr. Nil been managing this fund since 3rd
@
IDCW means Income Distribution
cum Capital Withdrawal. August 2023.

Note: To view asset class wise AUM & AAUM for categories of the Scheme & geographical spread refer https://www.axismf.com/statutory-disclosures

Current market cap split (% NAV) Risk Parameters

Standard
Deviation
11.80%

67.11% 28.89% 1.83% Beta 0.95

Tracking
Error 5.97%
LARGECAP MIDCAP SMALLCAP
Information
Ratio
-1.61
Based on 3 years data

New Entries (Changes over the month-January 2024) Exits

Hindalco Industries Ltd ICICI Prudential Life Insurance Company Limited

ICICI Bank Ltd Coal India Limited
Larsen & Toubro Ltd Reliance Industries Limited
Cummins India Limited

Performance (NAV Movement)

31st January 2024

Axis ELSS Tax Saver Fund - Direct Plan - Growth^ ` 58,793

Nifty 500 TRI (Benchmark)

1st January 2013

` 10,000
` 46,837
1 Year 3 Years 5 Years Since Inception
Current Value Current Value Current Value Current Value
CAGR CAGR CAGR CAGR
of Investment of Investment of Investment of Investment
(%) (%) (%) (%)
of ` 10,000/- of ` 10,000/- of ` 10,000/- of ` 10,000/-
Axis ELSS Tax Saver Fund
- Direct Plan - Growth 28.30% 12,830 12.83% 14,372 15.04% 20,153 17.32% 58,793

Nifty 500 TRI (Benchmark) 33.81% 13,381 21.79% 18,085 18.34% 23,216 14.94% 46,837

Nifty 50 TRI (Additional Benchmark) 24.35% 12,435 18.15% 16,510 16.29% 21,276 13.76% 41,747

^Type of Scheme: An open ended equity linked savings scheme with a statutory lock in of 3 years and tax benefit. Past performance may or may not be sustained in future. Since inception (1st January 2013). Different plans
have different expense structure. Ashish Naik is managing the scheme since 3rd August, 2023 and he manages 16 schemes of Axis Mutual Fund. Shreyash Devalkar is managing the scheme since 4th August, 2023 and he
manages 15 schemes of Axis Mutual Fund. Returns greater than 1 year are Compounded Annual Growth Rates (CAGR). Face value `10 per unit. Please refer return table for performance of all schemes managed by the fund
manager.
Please click on link https://www.axismf.com/cms/sites/default/files/Statutory/ALL_ANNEXURE_Jan%2024.pdf to view the performance of other schemes currently managed by the fund manager.
Note: In case you require physical copy of this document request you to kindly take the printout to review the fund managers performance of other schemes managed by him from the above link given.
 IDCW History

Option Record Date IDCW (` Per unit)

NAV per unit NAV per unit
(Cum IDCW) (Ex IDCW)
Individuals/ HUF Others

January 24, 2024 4.30 4.30 24.61 52.26

March 16, 2023 2.20 2.20 21.91 19.03
February 28, 2022 2.30 2.30 26.14 23.84
February 26, 2021 2.25 2.25 25.54 23.29
IDCW
January 27, 2020 1.86 1.86 23.26 21.16
January 31, 2019 2.04 2.04 21.38 19.08
March 22, 2018 2.50 2.50 23.05 20.55

On payment of IDCW, the NAV of the IDCW option of the Scheme falls to the extent of the payout and statutory levy, if any. Past performance may or may not be sustained in future.
Face value of units is Rs. 10. IDCW means Income Distribution cum Capital Withdrawal.

^An open ended equity linked savings scheme with a statutory lock in of 3 years and tax benefit.
Data as on 31st January 2024.
Past performance may or may not be sustained in future. Calculations are based on Regular Plan - Growth Option NAV and Direct Plan – Growth Option NAV, as applicable. Different
plans have different expense structure. Face value is ` 10 per unit.
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.
Ashish Naik is managing the equity portion of Axis Regular Saver Fund and Axis Multi Asset Allocation Fund since 22nd June,2016 and Axis Children's Gift Fund since July 6th, 2016
and Axis Nifty 50 ETF since July 3rd, 2017 and Axis Special Situations Fund, Axis Nifty 100 Index Fund, Axis NIFTY India Consumption ETF, Axis Quant Fund and Axis NIFTY Bank ETF
Since 04th May 2022 and Axis Equity Hybrid Fund since inception, Axis Arbitrage Fund since 4th May, 2022, Axis Business Cycles Fund since inception, Axis Balanced Advantage Fund
since 1st March 2023, Axis S&P BSE SENSEX ETF since Inception, Axis Bluechip Fund and Axis ELSS Tax Saver Fund since 3rd August 2023
Shreyash Devalkar is managing Axis Bluechip Fund, Axis Midcap Fund since 23rd November,2016 and Axis Equity ETFs FoF since inception, Axis Small Cap Fund, Axis Multicap Fund
Since 1st March, 2023, Axis ESG Integration Strategy Fund, Axis ELSS Tax Saver Fund since 4th August 2023, Axis Growth Opportunities Fund, Axis NIFTY 50 Index Fund, Axis NIFTY
Next 50 Index Fund, Axis Nifty Smallcap 50 Index Fund, Axis Nifty Midcap 50 Index Fund, Axis NIFTY IT ETF, Axis NIFTY Healthcare ETF, Axis India Manufacturing Fund since 27th
Dec, 2023.
Disclaimer: 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).
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 ` 1 lakh). Trustee: Axis Mutual
Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC). Axis Bank Ltd. is not liable or responsible for any loss or shortfall resulting from the operation of
the scheme.
For individual nature of tax implications, investors are requested to consult their tax advisors before investing.
For Digital use only.

Axis ELSS Tax Saver Fund*

(An Open Ended Equity Linked Savings Scheme With A Statutory Lock In Of 3 Years And Tax
Benefit)
Benchmark: Nifty 500 TRI
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.
**Investors should consult their financial advisers if in doubt about whether the product is
suitable for them.

Riskometer
Fund Nifty 500 TRI
Distributed by
Modera Modera
erate te erate te
Mod High ly Mod High ly
to Hi to Hi
w rate w rate
e e
gh

gh
Mo Lo

Mo Lo
d

d
Ver

Ver
Low

Low
y High

y High

Investors understand that their principal

will be at Very High Risk

**With effect from Dec 08, 2023, the name of the fund has been changed to Axis ELSS Tax Saver Fund

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