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There is a high dispersion in long term stock performance

Variation in top and bottom stocks over the last 10 years

% CAGR (CY 08-18)

BSE 100 index 14.5

Weak companies have


Top quartile 26.2
destroyed significant
investor wealth
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

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Large dispersion in sector specific earnings

Active sector allocation is key to alpha generation


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
Source: Kotak Institutional Equities

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We offer a tight basket of clearly positioned equity funds
Smallcap
Midcap Axis Small Cap Fund
Small caps
Multicap
Active Returns

Axis Midcap Fund


Axis >65% in Midcaps
Large & Midcap Multicap
Large Cap: 50 - 100%
Fund
ELSS Mid Cap: Max 50%

Axis Growth Opportunities Fund


Large Cap: 35 - 65%
Axis Long
Term Equity Mid Cap: 35 - 65%
Focused
Fund^ Large Cap: 50 - 100%
Axis Mid Cap: Max 50%
Large Cap
Focused 25
Axis Fund >90% in top 200 companies by
Bluechip market cap
Fund
Large Cap: 80 - 100% Active Risk
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.
Axis Bluechip Fund: Positioning

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.

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Pure bottom up stock picking
3 focusing on fundamentals
Risk management Maintains a core portfolio of quality businesses
with secular growth prospects
embedded in the investment process
2 Takes tactical positions in quality cyclicals linked
Relatively liquid portfolio
to fund manager views of cyclical factors and
Targets volatility below benchmark (Nifty)
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.

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Large cap biased: Reducing midcap exposure

100%
Mid Cap
95%

90% Average Large Cap exposure over 2


years: 83%
85% Average Large Cap exposure
over 2 years: 83%
80% Large Cap Large Cap

75%
Dec-16 Jun-17 Dec-17 Jun-18 Dec-18
Large Cap Midcap Small Cap

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.

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What do we mean by quality businesses?

Strong competitive Cash flow generating with


positioning sound balance sheet

Credible management team Sustainable Growth Potential

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Current Investment Focus

~ 60% leaders Expected


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

~ 40% Challengers Expected to


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

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.

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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
Large Cap – 92% Largecap – 81%
Market Cap Mix
Midcap – 3% Midcap – 1%
Top 10 stocks (% of portfolio) 54% 55%

Change in
Top stocks with increased Change in exposure Top stocks with reduced
exposure (%) over
exposure/entries (%) over last year exposure/ exits
year
Tata Consultancy Services Ltd 5.0% Page Industries Ltd -3.9%
Bajaj Finance Ltd 3.4% Maruti Suzuki India Ltd -3.7%
Housing Development Finance
Titan Company Limited 3.1% -3.6%
Corporation Ltd
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)
Sector Overweight/Underweight

Consumer 8%
Others 1%
Finance 1%
Media & Publishing -1%
Agro Inputs & Chemicals -1%
Cement & Building Materials -1%
Healthcare Services -1%
Telecom -1%
Capital Goods, Engineering & Construction -2%
Autos & Logistics -2%
Information Technology -3%
Infrastructure & Power -3%
Metal,Metal Products & Mining -4%
Oil & Gas -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).

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Current Portfolio & Risk Parameters (31st Dec 18)
Top 5 sector holdings Risk parameters (3 years)

Top 10 stocks Current market cap split (% NAV)

*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).

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Performance

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SIP Performance as on Dec 31, 2018

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.

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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.

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Product Labelling

Fund Name Riskometer Product Labelling


This product is suitable for investors who are seeking*
Axis Bluechip Fund
• Capital appreciation over long term
(An open ended equity scheme predominantly
• Investment in a diversified portfolio predominantly
investing in large cap stocks)
consisting of equity and equity related instruments
of large cap companies
This product is suitable for investors who are seeking*
Axis Multicap Fund • Capital appreciation over medium to long term
(An open ended equity scheme investing across • Investment in a diversified portfolio consisting of
large cap, mid cap, small cap stocks) equity and equity related instruments across market
capitalization.
This product is suitable for investors who are seeking*
Axis Midcap Fund • Capital appreciation over long term
(An open ended equity scheme predominantly • Investing predominantly in equity & equity related
investing in Mid Cap stocks) instruments of Mid Cap companies.
This product is suitable for investors who are seeking*
Axis Small Cap Fund
• Capital appreciation over long term
(An open ended equity scheme predominantly
• Investment in a diversified portfolio of equity and
investing in small cap stocks)
equity related instruments of small cap companies

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

Fund Name Riskometer Product Labelling


Axis Focused 25 Fund This product is suitable for investors who are seeking*
(An open ended equity scheme investing in • Capital appreciation over long term
maximum 25 stocks investing in large cap, mid cap • Investment in a concentrated portfolio of equity &
and small cap companies.) equity related instruments of up to 25 companies

This product is suitable for investors who are seeking*


Axis Long Term Equity Fund • Capital appreciation & generating income over long
(An open ended equity linked saving scheme with a term
statutory lock in of 3 years and tax benefit) • 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
Axis Equity Advantage Fund Sr 1 & 2 • Investment in a diversified portfolio of predominantly
(A Close Ended Equity Scheme) equity and equity related instruments across market
cap while managing risk through active hedging
strategies
This product is suitable for investors who are seeking*:
Axis Growth Opportunities Fund • capital appreciation over long term
(An Open-ended Equity Scheme investing in both • investment in a diversified portfolio predominantly
large cap and mid cap stocks) consisting of equity and equity related instruments
both in India as well as overseas

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

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.

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Thank You