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 predominantly consisting of equity and equity related instruments of small cap companies
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Mortality rate in small caps is higher
2
Source: Bloomberg, NSE, Axis MF Internal Analysis.. Above illustration includes data for all listed companies only in Nifty 500 Index. For the above analysis, Top 100 companies by market cap are considered as large cap companies, 101st to 250th companies as midcap companies and the rest as small cap companies. Data period:31st Dec 2008 – 31st Dec 2018.
What matters is ‘Good or Bad’ not ‘Large or Small’
Market cap buckets (Dec 2018)
Large cap Midcap Small capGot Acquired
or DelistedGrand Total
No of companies that were large cap 10 years
back are now53 25 15 7 100
No of companies that were mid cap 10 years
back are now17 32 90 11 150
No of companies that were small cap 10 years
back are now2 18 194 36 250
There is huge dispersion in returns
3
Source: Bloomberg, Axis MF Internal Analysis, Value Research; Data as on 31st Dec 2018. ^Small cap index: S&P BSE Smallcap Index,-. Above table is only for illustration purpose and does not indicate or represent future returns or returns for any Axis schemes. *For top and bottom quartile returns, due to unavailability of index member data, Small cap stocks (from 251st stock as per market cap) in Nifty 500 Index are considered.
Quality companies add value; weak names erode significantly
10 year Return (CAGR)
Smallcap Index return^ 11.4%
Top quartile (Average)* 34.4%
Bottom Quartile (Average)* -6.6%
Key learnings from investing in small caps
• Simply selecting small caps as a category is not enough; bottom up stock selection is vital
• Both risk and return have to be considered
• Small cap investors should be willing to absorb short term volatility
• Patience is key
4
Axis Small Cap Fund has created wealth for its investors since launch
5
Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on Rs.10 invested at inception. Different planshave different expense structure. Plan of the scheme for which performance is given is indicated above. Anupum Tiwari is managing the scheme since 06 October 2016 and he manages 7schemes of Axis Mutual Fund. Returns greater than 1 year period are compounded annualised (CAGR). . Please refer annexure for complete disclaimer (Page 21).The performance given aboveis for other than Direct Plan unless specified.
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13
18
23
28
33
Axis Small Cap Fund - Reg - Growth Nifty Smallcap 100 TRI Index
29th November 2013
Rs. 10,000
31st October 2019
Rs. 31,550
1 Year 3 Years 5 Years Since Inception
Fund NameDate of
inception
CAGR
(%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
Axis Small Cap Fund - Regular Plan - Growth
29-Nov-13
23.68% 12,368 11.05% 13,705 12.48% 18,008 21.41% 31,550
Nifty Smallcap 100 TRI (Benchmark) -4.29% 9,571 -2.84% 9,171 3.25% 11,735 11.64% 19,193
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 12.66% 14,313 8.76% 15,218 13.11% 20,743
Axis Small Cap Fund - Direct Plan - Growth
29-Nov-13
25.08% 12,508 12.30% 14,176 13.73% 19,034 22.77% 33,710
Nifty Smallcap 100 TRI (Benchmark) -4.29% 9,571 -2.84% 9,171 3.25% 11,735 11.64% 19,193
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 12.66% 14,313 8.76% 15,218 13.11% 20,743
With contained risk & drawdowns
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Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception (29 November 2013). Returns is calculated on Rs. 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is Regular growth plan. Benchmark: Nifty Smallcap 100 TRI Index. Data as on 31st October 2019. Source: MFI Explorer. * Please refer annexure (page 19-20) for performance disclosure as per SEBI format and performances for all funds managed by the fund manager. Axis Small capFund is managed by Anupam Tiwari. He manages 7 schemes. Please refer annexure for complete disclaimer (Page 21). Returns greater than 1 year are Compounded Annual Growth Rates (CAGR). The performance given above is for Other than Direct Plan unless specified.
Lower risk With lower drawdowns
Since Inception Fund Benchmark
Std Dev 10.7% 18.5%
Tracking Error 12.1%
Information Ratio 2.56
Sharpe ratio 1.53
Beta 0.45
Max drawdown -17.7% -44.1% -50%
-45%
-40%
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18
Axis Small Cap Fund-Reg(G) Nifty Smallcap 100 TRI Index
Performance management through the cycle
7
Past performance may or may not be sustained in future. Benchmark: Nifty Smallcap 100 TRI Index. Data as on 31st Oct 2019. Source: MFI Explorer. * Please refer annexure (page 19-20) for performance disclosure as per SEBI format and performances for all funds managed by the fund manager. Axis Small cap Fund is managed by Anupam Tiwari. He manages 7 schemes. Please refer annexure for complete disclaimer (Page 21). * Volatility is calculated as standard deviation based on daily returns on daily basis. The performance given above is for Other than Direct Plan unless specified.
Outperformed over long term
Parameters Nov 13 to Feb 16 Feb 16 to Jan 18 Jan 18 till date
Market Conditions and fund Normal market conditions with
reasonable returns, we outperformed
the benchmark
Euphoric time for markets; Market
rallied; we underperformed the
benchmark
Market
correction; we
significantly
outperformed
the benchmark
Fund Volatility Vs Bmk Volatility * 15.3% Vs 23.0% 10.9% Vs 17.8% 14.5% Vs. 0.5%
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14
19
24
29
34
Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18
Axis Small Cap Fund - Reg - Growth
Nifty Smallcap 100 TRI Index
Small caps offer a higher breadth of opportunities
8
Source: Bloomberg, Axis MF Internal Analysis, Value Research. Large cap : Nifty 50 Index, Smallcap : Nifty Small cap 100 Index,, Midcap: Nifty Midcap 100 Index. Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration 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). ROE Data as on 31st Dec 2018. Index Data as of 31st Oct 2019
Bottom up approach is the key to investing in smallcaps
Broader sector mix Larger set of stocks to select from
5558
87
Large Midcap Smalll cap
No of stocks (exc. financials) in Nifty 500 Index with ROE >15%
Sector Large cap Small cap
Finance 34.7% 20.6%
Consumer 10.6% 13.9%
Agro Inputs & Chemicals 0.6% 12.8%
Information Technology 15.1% 11.6%
Cap Goods, Engg & Construction 3.6% 9.8%
Infrastructure & Power 2.8% 6.3%
Healthcare Services 3.0% 5.3%
Real Estate 3.3%
Metal, Metal Products & Mining 4.5% 2.9%
Autos & Logistics 7.5% 2.5%
Textiles 2.3%
Cement & Building Materials 1.9% 2.0%
Oil & Gas 13.7% 2.0%
Media & Publishing 0.6% 1.9%
Chemicals 1.2%
Telecom 1.5% 0.8%
Miscellaneous 0.7%
Opportunity to generate significant alpha
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Source: Axis MF Internal Analysis
A broad universe of
companies in markets that
offer growth
Inefficient markets with low
levels of cover by both
buy-side and sell-side
The opportunity to find attractive,
idiosyncratic stock risk
The Opportunity to Generate Alpha with a Diversified Portfolio of Stocks
Benefits of investing in small caps
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Past performance may or may not be sustained in the future. Source: Value research , Bloomberg, Axis MF Internal Analysis, Data as on 31st Oct 2019. Index data as on 31st October 2019.
Please refer annexure for complete disclaimer (Page 21).
The Performance Case The Inefficiency Case The Opportunity Case
Under Researched Segment
IndexAverage Analyst
Coverage
Nifty 50 Index 38
Nifty Midcap 100 Index 16
Nifty Smallcap 100
Index9
• Improved capital availability for
smaller companies from Private
Equity Funds, Mutual Funds etc.
• New breed of professional &
technical entrepreneurs
-
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
900.00
1,000.00 Index Movement
Nifty 50
NIFTY Smallcap 100
What do we look for?
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* ROE: Return on equity , ROCE: Return On Capital Employed
Quality Scalability Stability
Strong promoter pedigree, corporate
governance and management with
sound track record of execution
Capable of sustaining good RoEs*
and RoCEs*
Offers sustainable return potential
with lower volatility
Ability to withstand event shocks
Sound balance sheet
Business model with sustainable
multi-year growth potential
Case Study
Sector: Consumer
• India-based company, which is engaged in manufacture ofcigarettes containing tobacco and unmanufactured tobacco.
• The Company operates through tobacco and other related productssegment.
• The Company's geographical segments include within India andoutside India.
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Source: Bloomberg. Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration 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). Data as on 31st Dec 2018.
Illustration: Stock A% p.a.
Market cap growth (5 years) 13%
EPS growth 29%
ROE 37%
0
200
400
600
800
1,000
1,200
1,400
1,600
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Index/Price Movement
Stock A
Nifty Smallcap 100Index
Case Study
Sector: Consumer
• Established in 1998 and part of a well known group, operates oneof India’s largest and fastest growing retail chains; a hypermarketchain and a family entertainment format store.
• It operates 125 stores of its retail chains and 5 independentbookstore chain stores, 23 super market and 12 hypermarketstores, and multiple standalone stores
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Source: Bloomberg. Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration 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). Data as on 31st Dec 2018.
Illustration: Stock B% p.a.
Price growth (5 years) 29%
EPS Growth 100%
ROE 10%
0
200
400
600
800
1,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Index/Price Movement
Stock B
Nifty Smallcap 100 Index
Case Study
Sector: Autos & Logistic
• Starting with two aluminium casting machines in FY 1986, thecompany has grown to operate 18 plants in India and 8 plants inEurope.
• Today the company is the largest aluminium die castingmanufacturer* in India and one of the leading automotivecomponent manufacturers in aluminium die casting (including alloywheels), suspension, transmission and brake systems.
• The company is a complete solution provider from design to after-market service.
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Source: Bloomberg. Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration 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). Data as on 31st Dec 2018.
Illustration: Stock C% p.a.
Market cap growth 15%
EPS growth 30%
ROE 22%
80
130
180
230
280
330
380
Sep-16 Mar-17 Sep-17 Mar-18 Sep-18
Index/Price Movement
Stock C
Nifty Smallcap 100 Index
Case Study
Sector: Finance
• The company is one of the leading scheduled commercial banksin the private sector with major presence in urban, semi-urbanand rural centers in South India.
• The bank has a network of over 600 branches and 1,621 ATMs.
• The main focus of the bank is lending to MSME, Retail/WholesaleTrade with granular asset profile including providing short termand long term loans to agricultural sector.
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Source: Bloomberg. Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration 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). Data as on 31st Dec 2018.
Illustration: Stock D% p.a.
Market cap growth (5 years) 26%
EPS growth 17%
ROE 15%
0
200
400
600
800
1000
1200
1400
1600
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Index/Price Movement
Stock D
Nifty Smallcap 100 Index
Case Study
Sector: Information Technology
• The company is a leading IT solutions organization, servicingcustomers in North America, Europe, Japan, Asia and Australia.
• The company's commitment to quality and adherence to globalstandards has strengthened its credentials among discerningcustomers.
• The company also has a sound Business Continuity Plan in placethat can address any natural or accidental disasters at itsdevelopment and operation centres.
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Source: Bloomberg. Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration 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). Data as on 31st Dec 2018.
Illustration: Stock E% p.a.
Market cap growth (5 years) 26%
EPS growth 48%
ROE 21%
0
200
400
600
800
1000
1200
1400
1600
1800
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Index/Price Movement
Stock E
Nifty Smallcap 100 Index
18
Fund
manager
Investment
Horizon
BenchmarkMin.
Application
amount
Category
Small Cap Fund Anupam Tiwari 5+years Nifty Smallcap 100
Index TRI
Rs 5,000 and in
multiples of Re. 1/-
thereafter
For complete scheme related information refer KIM/SID available on the website. Please visit www.axismf.com
Axis Small Cap Fund
Features at a glance
Performance Annexure (Top 3)
19
1 Year 3 Years 5 Years Since Inception
Fund NameDate of
inception
CAGR
(%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
FUNDS MANAGED BY ANUPAM TIWARI (TOTAL SCHEMES MANAGED: 7 SCHEMES)
Axis Equity Saver Fund - Regular Plan - Growth
14-Aug-15
11.81% 11,181 7.97% 12,596 NA NA 7.26% 13,440
NIFTY Equity Savings Index (Benchmark) 11.08% 11,108 8.77% 12,879 NA NA 7.99% 13,830
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 12.66% 14,313 NA NA 9.63% 14,734
Axis Equity Saver Fund - Direct Plan - Growth
14-Aug-15
13.13% 11,313 9.24% 13,047 NA NA 8.54% 14,130
NIFTY Equity Savings Index (Benchmark) 11.08% 11,108 8.77% 12,879 NA NA 7.99% 13,830
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 12.66% 14,313 NA NA 9.63% 14,734
Axis Small Cap Fund - Regular Plan - Growth
29-Nov-13
23.68% 12,368 11.05% 13,705 12.48% 18,008 21.41% 31,550
Nifty Smallcap 100 TRI (Benchmark) -4.29% 9,571 -2.84% 9,171 3.25% 11,735 11.64% 19,193
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 12.66% 14,313 8.76% 15,218 13.11% 20,743
Axis Small Cap Fund - Direct Plan - Growth
29-Nov-13
25.08% 12,508 12.30% 14,176 13.73% 19,034 22.77% 33,710
Nifty Smallcap 100 TRI (Benchmark) -4.29% 9,571 -2.84% 9,171 3.25% 11,735 11.64% 19,193
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 12.66% 14,313 8.76% 15,218 13.11% 20,743
Axis Dynamic Equity Fund - Regular Plan - Growth
01-Aug-17
8.96% 10,896 NA NA NA NA 5.63% 11,310
NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 15.00% 11,500 NA NA NA NA 8.11% 11,918
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 8.84% 12,099
Axis Dynamic Equity Fund - Direct Plan - Growth
01-Aug-17
10.56% 11,056 NA NA NA NA 7.35% 11,730
NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 15.00% 11,500 NA NA NA NA 8.11% 11,918
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 8.84% 12,099
Performance Annexure (Bottom 3)
20
Past performance may or may not be sustained in future. For full disclaimer, please refer slide 21
1 Year 3 Years @ 5 Years @@ Since Inception
Fund NameDate of
inception
CAGR
(%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
CAGR (%)
Point-to-Point
returns on
Standard
Investment of
Rs. 10,000/-
FUNDS MANAGED BY ANUPAM TIWARI (TOTAL SCHEMES MANAGED: 7 SCHEMES)
Axis Emerging Opportunities Fund - Series 1 (1400 Days) - Regular
Plan - Growth29-Dec-16
12.18% 11,218 NA NA NA NA 9.65% 12,990
S&P BSE MidCap TRI (Benchmark) 2.73% 10,273 NA NA NA NA 9.31% 12,876
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 16.03% 15,250
Axis Emerging Opportunities Fund - Series 1 (1400 Days) - Direct Plan -
Growth29-Dec-16
13.42% 11,342 NA NA NA NA 11.21% 13,520
S&P BSE MidCap TRI (Benchmark) 2.73% 10,273 NA NA NA NA 9.31% 12,876
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 16.03% 15,250
Axis Emerging Opportunities Fund - Series 2 (1400 Days) - Regular
Plan - Growth27-Feb-17
11.21% 11,121 NA NA NA NA 8.70% 12,500
S&P BSE MidCap TRI (Benchmark) 2.73% 10,273 NA NA NA NA 4.72% 11,313
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 13.04% 13,878
Axis Emerging Opportunities Fund - Series 2 (1400 Days) - Direct Plan -
Growth27-Feb-17
12.56% 11,256 NA NA NA NA 10.28% 12,990
S&P BSE MidCap TRI (Benchmark) 2.73% 10,273 NA NA NA NA 4.72% 11,313
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 13.04% 13,878
Axis Capital Builder Fund - Series 1 - Growth
08-Mar-18
16.29% 11,629 NA NA NA NA 5.07% 10,850
Nifty 500 TRI (Benchmark) 12.10% 11,210 NA NA NA NA 6.02% 11,012
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 11.07% 11,891
Axis Capital Builder Fund - Series 1 - Direct Plan - Growth
08-Mar-18
17.62% 11,762 NA NA NA NA 6.42% 11,080
Nifty 500 TRI (Benchmark) 12.10% 11,210 NA NA NA NA 6.02% 11,012
Nifty 50 TRI (Additional Benchmark) 15.93% 11,593 NA NA NA NA 11.07% 11,891
Data as on 31st Oct 2019.
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. The performance given above is for Other than Direct Plan unless specified.
Calculations are based on Growth Option NAV. Above data excludes schemes which have not completed a year. The above data excludes performance of direct
plans of schemes which have not completed a year. The performance of the schemes are benchmarked to the Total Return variant of the Benchmark Index (TRI)
in terms of SEBI circular dated Jan. 4, 18. Anupam Tiwari is managing Axis Equity Saver Fund and Axis Smallcap Fund since 6th October, 2016, Axis Emerging
Opportunities Fund - Series 1 since 29th December 2016, Axis Emerging Opportunities Fund - Series 2 since 17th Feb 2017, Axis Dynamic Equity Fund since
inception & Axis Capital Builder Fund - Series 1 since 8th March 2018, @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 5 years period has not been provided, since scheme is in existence for less than 5
years.
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.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Disclaimer for performance annexure
21
Product Labels
22
Fund Name Riskometer Product Labelling
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 predominantly equity
and equity related instruments of small cap companies
Axis Dynamic Equity Fund
(An open ended dynamic asset allocation fund)
This product is suitable for investors who are seeking*
Capital appreciation while generating income over medium
to long term
Investment in equity and equity related instruments as well
as debt and money market instruments while managing risk
through active asset allocation
Axis Equity Saver Fund
(An open ended scheme investing in equity,
arbitrage and debt)
This product is suitable for investors who are seeking*
Capital appreciation while generating income over medium
to long term
Provide capital appreciation and income distribution to the
investors by using equity and equity related instruments,
arbitrage opportunities, and investments in debt and money
market instruments
Axis Capital Builder Fund – Series 1 (1540 Days)
(A close ended equity scheme investing across
large caps, mid caps and small cap stocks)
This product is suitable for investors who are seeking*
Capital appreciation over long term
Investment in a diversified portfolio of predominantly equity
and equity related instruments across market capitalisation.
* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Product Labels
23
Fund Name Riskometer Product Labelling
Axis Emerging Opportunities Fund – Series 1
(1400 Days)
(A close-ended Equity Scheme)
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 midcap companies.
Axis Emerging Opportunities Fund – Series 2
(1400 Days)
(A close-ended Equity Scheme)
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 midcap companies.
* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.