The rates are applicable for the financial year 2017-18 … rates are applicable for the financial...

The rates are applicable for the financial year 2017-18 as per finance act, 2017

$Surcharge at 15% to be levied in case of individual/HUF unit holder where their income exceeds Rs. 1 crore. As per Finance Bill, 2017, surcharge at 10% to be levied in case of individual/ HUF unit holders where income of such unit holders exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore.

30%^ / 25%^^

^^If total turnover or gross receipts of the financial year 2015-16 does not exceed Rs. 50 crores.

Income Tax RatesFor individuals, Hindu Undivided Family, Association of Persons, Body of Individuals and Artificial juridical persons

Total Income Tax RatesUp to Rs.250,000 (a) (b) NILRs.250,001 to Rs.500,000 (d) (e) 5%Rs.500,001 to Rs.1,000,000 (e) 20%Rs.1,000,000 and above (c) (d) 30%

(a) In case of a resident individual of the age of 60 years or above but below 80 years, the basic exemption limit is Rs.300,000

(b) In case of a resident individual of the age of 80 years or above, the basic exemption limit is Rs.500,000

(c) Surcharge at 15%, is applicable where income exceeds Rs.1 crore. Finance Bill, 2017 provides for surcharge at 10% to be levied where income exceeds Rs.50 lakhs but does not exceed Rs.1 crore. Marginal relief for such person is available

(d) Education cess is applicable @ 3% on aggregate of tax and surcharge.

(e) Finance Bill, 2017 provides a rebate of lower of actual tax liability or Rs.2,500 (against earlier rebate of Rs.5,000) in case of individuals having total income of less than Rs.350,000.

(e)30% /25(d)

(c)

(a) These rates will further increase by applicable surcharge & education cess.(b) Indexation benefit, as applicable.(c) Long term capital gains arising to a non-resident from transfer of unlisted securities or shares of a

company, not being a company in which the public are substantially interested, subject to 10 per cent tax (without benefit of indexation and foreign currency fluctuation.

(d) This rate applies to companies other than companies engaged in manufacturing business who are to be taxed at lower rate subject to fulfillment of certain conditions.

(e) If total turnover or gross receipts of the financial year 2015-16 does not exceed Rs.50 crores.

(c)

Progressive slab

*Considering a case of resident Individual of age less than 60 years.

I N D E X

How To Read A Factsheet

Equity Funds

Debt Funds

Hybrid Funds

NAV’s

Load Structure And Minimum Investment Amount

Annexures

Expense Ratios

Product Labeling

5

Equity Outlook 6Axis Equity Fund 7Axis Focused 25 Fund 8Axis Midcap Fund 9Axis Long Term Equity Fund 10Axis Enhanced Arbitrage Fund 11

Fixed Income Outlook 12Axis Liquid Fund 13

Axis Dynamic Bond Fund 16Axis Regular Savings Fund 17Axis Fixed Income Opportunities Fund 18

Axis Banking And PSU Debt Fund 20

Hybrid Outlook 21Axis Equity Saver Fund 22Axis Income Saver 23Axis Children Gift Fund 24Axis Triple Advantage Fund 25

27

28

29

30

31

Axis Treasury Advantage Fund 14Axis Short Term Fund 15

Axis Constant Maturity 10 Year Fund 19

26SIP Performance Of Selected Schemes

Tax Reckoner 2

45

EQUITYJ U N E 2 0 1 7

17.9% 3.4%14.3%

QUICK TAKE

KEY HIGHLIGHTS

Equity market valuations are broadly reasonable.

We remain bullish on equities from a medium to long term perspective.

Investors are suggested to have their asset allocation plan based on one’s risk appetite and future goals in life.

DOMESTIC

CORPORATE

Indian equity markets were volatile during may as large cap indices hit new all-time highs but mid-caps struggled. Nifty Index was up 3.4 percent during the month of May while midcap indices were negative during the month as indicated by the BSE Midcap Index which was down 1.2 percent.

The market witnessed some amount of momentum post announcement of itemised tax rates under India’s landmark Goods and Services Tax (GST) reform. The GST Council’s approval on rates for various goods & services as well as the passage of GST Bill by several states set expectations of a timely kick-off by July 1st. The single tax would replace indirect tax levies and improve taxation efficiencies. IMD’s forecast of the monsoon reaching the southern coast of India two days in advance was positive for markets. A normal monsoon season would be positive for rural demand and drive a broad-based economic recovery in 2H17.

Headline consumer price index (CPI) cooled off over month of March owing primarily to lower food inflation (CPI print was 2.99% versus 3.81% in March). While the announced GST rates imply that GST will be neutral on inflation, with the lower final tax rates on several goods being offset by some higher tax rates on services and some goods, implementation is likely to be a hiccup and may cause temporary supply chain interruptions. The Reserve Bank is unlikely to let its guard down on its inflationary impact until it sees some meaningful progress in implementation. RBI’s key focus on delivering retail inflation close to the 4% target would remain uncompromised.

High frequency data indicators remained fairly flattish as compared to March. Economic activity is still away from the strong levels pre-demonetisation and with GST rollout likely from July 1, inventory correction/business realignment may make acceleration unlikely till then.

Among the positive indicators, most positive was trade data with exports growth remaining strong for the third month in a row. Positive data trends were seen in auto sales with both cars and two-wheelers doing well. PV sales (+15% YoY) continue to be strong. Two-wheeler sales (7% YoY) were at a six-month high, recovering from demonetisation.

The 4QFY17 earning season was in full swing as results reflected full impact of demonetisation, with some companies in ‘domestic’ sectors viz, cement, consumer, autos, etc. seeing sales/Ebitda declines. Demonetisation impact was also visible for media companies and property. Banks benefitted on the margin front from demonetisation, as they retained part of the cash deposited during the previous quarter. Management commentary though, has improved for the domestic consumption linked sectors with most suggesting that the demonetisation impact is over in urban areas and significantly reduced in rural; albeit, near term pressure from GST implementation still remains. Margin tailwinds have meanwhile changed to headwinds as the benefit of lower commodity prices is largely in the base.

Market sentiment was helped by record buying by foreign investors over the past 3 months. Flows in May by Foreign Portfolio investors in equity and debt markets were robust at US$ 1.2 and 2.9 billion respectively. Simultaneously, flows into domestic funds have remained strong over the last several months.

GLOBAL

6

Please refer to page no 27, 29-30, 31 for NAV, TER, Riskometer & Statutory Details.

INVESTMENT OBJECTIVE: To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Inve

stm

ent S

tyle

Value

Blend

Growth

Large Mid SmallMarket Cap

FUND STYLE

PORTFOLIO

% OF ASSETS

BANKS 29.24HDFC Bank Limited 9.92Kotak Mahindra Bank Limited 7.11ICICI Bank Limited 5.40IndusInd Bank Limited 4.24State Bank of India 2.56CONSUMER NON DURABLES 13.65ITC Limited 6.02Asian Paints Limited 4.57Britannia Industries Limited 3.06FINANCE 11.47HDFC Limited 6.19Bajaj Finserv Limited 3.81Cholamandalam Investment and Finance Company Limited 1.47

AUTO 10.05Maruti Suzuki India Limited 6.56Eicher Motors Limited 1.33Tata Motors Limited 1.18Mahindra & Mahindra Limited 0.98AUTO ANCILLARIES 6.60Motherson Sumi Systems Limited 3.23Endurance Technologies Limited 2.28Bosch Limited 1.09CONSTRUCTION PROJECT 3.49Larsen & Toubro Limited 3.49GAS 3.14Indraprastha Gas Limited 2.19Gujarat State Petronet Limited 0.95CEMENT 2.72UltraTech Cement Limited 1.71Shree Cements Limited 1.01PETROLEUM PRODUCTS 2.32Indian Oil Corporation Limited 1.23Bharat Petroleum Corporation Limited 1.08OTHERS 14.94Retailing 2.05Avenue Supermarts Limited 2.05Media & Entertainment 1.94Zee Entertainment Enterprises Limited 1.94Telecom - Services 1.64Bharti Airtel Limited 1.64Industrial Capital Goods 1.46Bharat Electronics Limited 1.46Software 1.29Infosys Limited 1.29Transportation 1.03InterGlobe Aviation Limited 1.03Pharmaceuticals 1.02Cadila Healthcare Limited 1.02Industrial Products 0.68Cummins India Limited 0.68Total Equity 94.29Cash & Other Receivables 6.21Net Assets 100%

Banks 29.24 Consumer Non

Durables13.65

Finance 11.47 Auto 10.05 Auto Ancillaries 6.60

Construction Project

3.49

Gas 3.14 Cement 2.72

Petroleum Products

2.32

Others 11.12

DATE OF ALLOTMENT

5thJanuary 2010

MONTHLY AVERAGE

1,825.11 Cr.

AS ON 31ST MAY’17

1,813.91 Cr.

BENCHMARK

Nifty 50

STATISTICAL MEASURES(3 YEARS)

Standard Deviation - 13.29%

Beta - 0.96

Sharpe Ratio** - 0.39

PORTFOLIOTURNOVER* (1 YEAR)

1.24 times

FUND MANAGER

Mr. ShreyashDevalkar

Work experience:13 years. He has been managing this fund

since 23rd November 2016

SECTORALLOCATION

(%)

AXIS EQUITY FUND(AN OPEN-ENDED GROWTH SCHEME)

FACTSHEETMAY 2017

1% if Units are redeemed / switched-out within 12 months from the date of allotment (Effective from 1st October 2013)

EXIT LOAD

PERFORMANCE (as on 31st May 2017)

DIVIDENDS

Regular Plan Direct Plan

Options Record Date

Dividend (` Per unit) NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

DividendMar 21, 2017 1.15 1.15 14.86 13.71 1.15 1.15 15.54 14.39Mar 10, 2016 1.00 1.00 13.78 12.78 1.00 1.00 14.24 13.24Mar 05, 2015 1.00 1.00 16.53 15.53 1.00 1.00 16.89 15.89

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10.**Risk-free rate assumed to be 6.25% (MIBOR as on 31-5-17) - Source: www.fimmda.orgPlease note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years. Data as on 31st May 2017.Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)

SinceInceptionCAGR (%)

Current Value of Investment

if ` 10,000 was invested on

Inception date

Date ofInception

Axis Equity Fund - Growth 14.80% 11.50% 17.70% 11.41% 22,26005-Jan-10Nifty 50 (Benchmark) 17.91% 9.97% 14.33% 8.45% 18,229

S&P BSE Sensex (Additional Benchmark) 16.79% 8.73% 13.93% 7.94% 17,610Axis Equity Fund - Direct Plan - Growth 15.95% 12.72% - 15.87% 19,154

01-Jan-13Nifty 50 (Benchmark) 17.91% 9.97% - 11.50% 16,168S&P BSE Sensex (Additional Benchmark) 16.79% 8.73% - 11.09% 15,906Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated at Rs. 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Shreyash Devalkar is managing the scheme since 23rd November 2016 and he manages 3 schemes of Axis Mutual Fund. Please refer to annexure on Page 29 for performance of all schemes managed by the fund manager.

7


Banks 17.57 Finance 12.83 Auto Ancillaries 11.99

Industrial Products

10.21

Auto 5.40

Construction Project

4.86

Cement 4.64

Industrial Capital Goods

3.68

Retailing 3.30 Others 17.51

DATE OF ALLOTMENT

29th June 2012MONTHLY AVERAGE

1,342.38 Cr.

AS ON 31ST MAY’17

1,383.24 Cr.

BENCHMARK

Nifty 50



Beta - 1.08



1.14 times

FUND MANAGER

Mr. Jinesh Gopani Work experience:14 years.

He has been managing this fund since 07th June 2016

Inve

stm

ent S

tyle

Value

Blend

Growth


FUND STYLE

% OF ASSETS

BANKS 17.57

Kotak Mahindra Bank Limited 9.00

HDFC Bank Limited 8.56

FINANCE 12.83

Bajaj Finserv Limited 5.02

Bajaj Finance Limited 3.95

Gruh Finance Limited 3.85

AUTO ANCILLARIES 11.99

Motherson Sumi Systems Limited 4.11

Bosch Limited 3.06

Endurance Technologies Limited 2.99

WABCO India Limited 1.84

INDUSTRIAL PRODUCTS 10.21

Cummins India Limited 5.33

Supreme Industries Limited 4.88

AUTO 5.40

Maruti Suzuki India Limited 5.40

CONSTRUCTION PROJECT 4.86

Larsen & Toubro Limited 4.86

CEMENT 4.64

Shree Cements Limited 4.64

INDUSTRIAL CAPITAL GOODS 3.68

V-Guard Industries Limited 1.93

Siemens Limited 1.75

RETAILING 3.30

Avenue Supermarts Limited 3.30

OTHERS 17.51

Software 3.21

Info Edge (India) Limited 3.21

Textile Products 3.19

Page Industries Limited 3.19

Commercial Services 2.95

Quess Corp Limited 2.95

Media & Entertainment 2.91

PVR Limited 2.09

S Chand And Company Limited 0.82

Chemicals 2.23

Pidilite Industries Limited 2.23

Consumer Non Durables 1.95

Nestle India Limited 1.95

Consumer Durables 1.07

TTK Prestige Limited 1.07

Total Equity 91.99

Cash & Other Receivables 8.01

Net Assets 100%

SECTORALLOCATION

(%)

PORTFOLIO

INVESTMENT OBJECTIVE: To generate long term capital appreciation by investing in a concentrated portfolio of equity & equity related instruments of up to 25 companies.

AXIS FOCUSED 25 FUND(AN OPEN-ENDED EQUITY SCHEME)

FACTSHEETMAY 2017

1% if redeemed/ switched out within 1 year from the date of allotment. (w.e.f. 15th May 2015)

EXIT LOAD


DIVIDENDS

Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

Others

DividendFeb 28, 2017 1.30 1.30 17.14 15.84Mar 10, 2016 1.00 1.00 14.56 13.56

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. **Risk-free rate assumed to be 6.25% (MIBOR as on 31-5-17) - Source: www.fimmda.orgPlease note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years.Data as on 31st May 2017.Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Focused 25 Fund - Growth 25.88% 18.01% - 17.98% 22,57029-Jun-12Nifty 50 (Benchmark) 17.91% 9.97% - 12.97% 18,226

S&P BSE 200 (Additional Benchmark) 20.99% 12.15% - 14.51% 19,482Axis Focused 25 Fund - Direct Plan - Growth 27.39% 19.53% - 17.56% 20,420

01-Jan-13Nifty 50 (Benchmark) 17.91% 9.97% - 11.50% 16,168S&P BSE 200 (Additional Benchmark) 20.99% 12.15% - 12.82% 17,028Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided, since scheme is in existence for less than 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Jinesh Gopani is managing the scheme since 7th June 2016 and he manages 5 schemes of Axis Mutual Fund. Please refer to annexure on Page 29 for performance of all schemes managed by the fund manager.

8


PORTFOLIO

Finance 19.33 Auto Ancillaries 17.62 Consumer Non

Durables8.80

Industrial Products

7.04

Banks 5.37

Pesticides 4.86 Textile Products 3.56

Media & Entertainment

3.33

Pharmaceuticals 2.91 Others 21.08

DATE OF ALLOTMENT

18th February 2011

MONTHLY AVERAGE

1,201.10 Cr.

AS ON 31ST MAY’17

1,178.82 Cr.

BENCHMARK

S&P BSE Midcap



Beta - 0.98



1.07 times

FUND MANAGER

Mr. Shreyash Devalkar

Work experience: 13 years.He has been managing this fund since

23rd November 2016

Inve

stm

ent S

tyle

Value

Blend

Growth


FUND STYLE

% OF ASSETSFINANCE 19.33Gruh Finance Limited 6.88Bajaj Finserv Limited 3.88Sundaram Finance Limited 3.01Cholamandalam Investment and Finance Company Limited

2.49

Multi Commodity Exchange of India Limited 1.70Mahindra & Mahindra Financial Services Limited 1.36AUTO ANCILLARIES 17.62Motherson Sumi Systems Limited 4.20Endurance Technologies Limited 3.34Balkrishna Industries Limited 1.91Igarashi Motors India Limited 1.85WABCO India Limited 1.83CEAT Limited 1.57Amara Raja Batteries Limited 1.54MRF Limited 1.39CONSUMER NON DURABLES 8.80Procter & Gamble Hygiene and Health Care Limited

3.01

Berger Paints (I) Limited 2.99Britannia Industries Limited 2.80INDUSTRIAL PRODUCTS 7.04Supreme Industries Limited 2.73Cummins India Limited 1.70AIA Engineering Limited 1.57Bharat Forge Limited 1.04BANKS 5.37City Union Bank Limited 5.37PESTICIDES 4.86UPL Limited 3.82PI Industries Limited 1.04TEXTILE PRODUCTS 3.56Page Industries Limited 3.56MEDIA & ENTERTAINMENT 3.33PVR Limited 3.33PHARMACEUTICALS 2.91Torrent Pharmaceuticals Limited 1.01Cadila Healthcare Limited 0.97Alkem Laboratories Limited 0.92OTHERS 21.08Cement 2.63The Ramco Cements Limited 1.78JK Lakshmi Cement Limited 0.85Industrial Capital Goods 2.55V-Guard Industries Limited 1.56Bharat Electronics Limited 0.99Consumer Durables 2.42TTK Prestige Limited 1.34Blue Star Limited 1.08Gas 2.24Petronet LNG Limited 2.24Petroleum Products 2.10Gulf Oil Lubricants India Limited 2.10Transportation 2.04Blue Dart Express Limited 1.03Container Corporation of India Limited 1.00Auto 1.90V.S.T Tillers Tractors Limited 1.90Software 1.09Info Edge (India) Limited 1.09Power 1.03Torrent Power Limited 1.03Construction 0.90PSP Projects Limited 0.90Retailing 0.84Avenue Supermarts Limited 0.84Construction Project 0.70Voltas Limited 0.70Ferrous Metals 0.63Shankara Building Products Limited 0.63Total Equity 93.91Cash & Other Receivables 6.09Net Assets 100%

SECTORALLOCATION

(%)

INVESTMENT OBJECTIVE: To achieve long term capital appreciation by investing predominantly in equity and equity related instruments of mid size companies. The focus of the fund will be to invest in relatively larger companies within this category.

AXIS MIDCAP FUND(AN OPEN-ENDED EQUITY SCHEME)

FACTSHEETMAY 2017

1% if redeemed / switched - out within 12 months from the date of allotment (w.e.f. 5th May 2014)

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Midcap Fund - Growth 16.31% 15.74% 23.21% 18.05% 28,38018-Feb-11S&P BSE Midcap (Benchmark) 28.68% 19.94% 19.86% 13.33% 21,954

Nifty 50 (Additional Benchmark) 17.91% 9.97% 14.33% 9.44% 17,625Axis Midcap Fund - Direct Plan - Growth 17.61% 17.18% - 19.38% 21,855

01-Jan-13S&P BSE Midcap (Benchmark) 28.68% 19.94% - 17.43% 20,320Nifty 50 (Additional Benchmark) 17.91% 9.97% - 11.50% 16,168Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Shreyash Devalkar is managing the scheme since 23rd November 2016 and he manages 3 schemes of Axis Mutual Fund. Please refer to annexure on Page 29 for performance of all schemes managed by the fund manager.


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

DividendSep 15, 2016 2.00 2.00 22.64 20.64 2.00 2.00 25.83 23.83Sep 10, 2015 1.75 1.75 23.29 21.54 1.75 - 26.04 24.29July 31, 2014 1.50 1.50 19.91 18.41 - - - -

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. **Risk-free rate assumed to be 6.25% (MIBOR as on 31-5-17) - Source: www.fimmda.orgPlease note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years. Data as on 31st May 2017.Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

DIVIDENDS

9


PORTFOLIO

Finance 18.44 Banks 17.28 Auto Ancillaries 13.03 Auto 8.07 Construction

Project5.86

Consumer Durables

5.52

Chemicals 4.94

Industrial Products

4.60

Pharmaceuticals 2.83 Others 15.93

DATE OF ALLOTMENT

29th December 2009

MONTHLY AVERAGE

13,071.32 Cr.

AS ON 31ST MAY’17

13,217.56 Cr.

BENCHMARK

S&P BSE 200


Standard Deviation

- 12.79%

Beta - 0.88



1.41 times

FUND MANAGER

Mr. Jinesh Gopani Work experience: 14 years.

He has been managing this fund since 1st April 2011

Inve

stm

ent S

tyle

Value

Blend

Growth


FUND STYLE

% OF ASSETS

FINANCE 18.44HDFC Limited 6.96Bajaj Finance Limited 4.89Sundaram Finance Limited 2.79Gruh Finance Limited 2.46Multi Commodity Exchange of India Limited 1.34BANKS 17.21Kotak Mahindra Bank Limited 8.87HDFC Bank Limited 8.34AUTO ANCILLARIES 13.03Motherson Sumi Systems Limited 5.54Bosch Limited 3.95WABCO India Limited 1.96Endurance Technologies Limited 1.06Tube Investments of India Limited 0.51AUTO 8.07Maruti Suzuki India Limited 5.92Eicher Motors Limited 2.15CONSTRUCTION PROJECT 5.86Larsen & Toubro Limited 5.86CONSUMER DURABLES 5.52TTK Prestige Limited 3.27Symphony Limited 2.25CHEMICALS 4.94Pidilite Industries Limited 4.94INDUSTRIAL PRODUCTS 4.60Cummins India Limited 3.05Astral Poly Technik Limited 1.55PESTICIDES 2.48PI Industries Limited 2.48OTHERS 15.93Pharmaceuticals 2.47Cadila Healthcare Limited 1.82IPCA Laboratories Limited 0.65Software 2.25Info Edge (India) Limited 1.14Tata Consultancy Services Limited 1.11Power 2.17Torrent Power Limited 2.17Consumer Non Durables 2.17Nestle India Limited 2.17Retailing 1.78Avenue Supermarts Limited 1.78Transportation 1.55Blue Dart Express Limited 0.98Gujarat Pipavav Port Limited 0.57Commercial Services 1.13Quess Corp Limited 1.13Industrial Capital Goods 0.96Siemens Limited 0.96Telecom - Equipment & Accessories 0.55Astra Microwave Products Limited 0.55Other Equity (less than 0.50% of the corpus) 1.32Total Equity 96.51Debt, Cash & Other Receivables 3.49Net Assets 100%^Treasury Bill

SECTORALLOCATION

(%)

INVESTMENT OBJECTIVE: To generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities. However, there can be no assurance that the investment objective of the Scheme will be achieved.

AXIS LONG TERM EQUITY FUND(AN OPEN-ENDED EQUITY LINKED SAVINGS SCHEME WITH A 3 YEAR LOCK-IN)

FACTSHEETMAY 2017

NIL

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Long Term Equity Fund - Growth 16.67% 19.33% 24.46% 18.88% 36,12229-Dec-09S&P BSE 200 (Benchmark) 20.99% 12.15% 15.76% 9.15% 19,159

Nifty 50 (Additional Benchmark) 17.91% 9.97% 14.33% 8.67% 18,545Axis Long Term Equity Fund - Direct Plan - Growth 17.98% 20.75% - 23.64% 25,509

01-Jan-13S&P BSE 200 (Benchmark) 20.99% 12.15% - 12.82% 17,028Nifty 50 (Additional Benchmark) 17.91% 9.97% - 11.50% 16,168Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above.Jinesh Gopani is managing the scheme since 1st April 2011and he manages 5 schemes of Axis Mutual Fund. Please refer to annexure on Page 29 for performance of all schemes managed by the fund manager.

DIVIDENDS

Options Record Date


(Cum Dividend)

Individuals/ HUF

Others

Regular Dividend

Jan 31, 2017 2.23 2.23 21.1726Jan 25, 2016 2.25 2.25 21.2217Jan 22, 2015 2.00 2.00 24.2942

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. **Risk-free rate assumed to be 6.25% (MIBOR as on 31-5-17) - Source: www.fimmda.orgPlease note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years. Data as on 31st May 2017.Source: ACEMF*Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

10


PORTFOLIO

% OF ASSETS

TOTAL HEDGED EQUITY 66.94

Dewan Housing Finance Corporation Limited 9.19

Century Textiles & Industries Limited 8.18

Divi's Laboratories Limited 5.84

Indiabulls Housing Finance Limited 4.87

Reliance Capital Limited 4.66

Sun Pharmaceutical Industries Limited 4.25

Aurobindo Pharma Limited 2.68

HDFC Limited 2.47

Max Financial Services Limited 2.41

Reliance Industries Limited 2.29

Eicher Motors Limited 2.21

Castrol India Limited 2.20

Tata Motors Limited 1.98

Bharat Forge Limited 1.87

Tata Motors Limited 1.19

Fortis Healthcare Limited 1.10

Siemens Limited 1.04

Capital First Limited 0.90

Britannia Industries Limited 0.88

Power Grid Corporation of India Limited 0.85

IDFC Bank Limited 0.75

Reliance Infrastructure Limited 0.75

Hindustan Zinc Limited 0.74

Jain Irrigation Systems Limited 0.67

Oracle Financial Services Software Limited 0.57

Bharat Electronics Limited 0.50

Jindal Steel & Power Limited 0.50

Asian Paints Limited 0.37

Hindalco Industries Limited 0.31

DLF Limited 0.29

The Federal Bank Limited 0.20

Godfrey Phillips India Limited 0.19

Tata Global Beverages Limited 0.04

DEBT, CASH & OTHER RECEIVABLES 33.06

NET ASSET 100%

^Commercial Paper

DATE OF ALLOTMENT

14th August 2014MONTHLY AVERAGE

599.76 Cr.

AS ON 31ST MAY’17

558.91 Cr.

BENCHMARK

Crisil Liquid Fund Index

Mr. Ashwin Patni Work experience: 13 years.

He has been managing the fund since 27th April 2015

Mr. Devang ShahWork experience: 11 years.

He has been managing this fund since inception.

FUND MANAGER

AXIS ENHANCED ARBITRAGE FUND FACTSHEETMAY 2017

INVESTMENT OBJECTIVE: To generate income through low volatility absolute return strategies that take advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies and by investing the balance in debt and money market instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

(AN OPEN-ENDED ARBITRAGE FUND)

0.25% if redeemed / switched out within 7 days from the date of allotment. (w.e.f. 15th May 2015)

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Enhanced Arbitrage Fund - Growth 6.43% - - 6.79% 12,01714-Aug-14CRISIL Liquid Fund Index (Benchmark) 6.96% - - 7.82% 12,345

CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% - - 7.62% 12,279Axis Enhanced Arbitrage - Direct Plan - Growth 7.30% - - 7.69% 12,302

14-Aug-14CRISIL Liquid Fund Index (Benchmark) 6.96% - - 7.82% 12,345CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% - - 7.62% 12,279Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 10 invested at inception. The performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 years.Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since inception and he manages 46 schemes & Ashwin Patni is managing the scheme since 27th April 2015 and he manages 22 schemes. Please refer to annexure on Page 30 for performance of all schemes managed by the fund managers.

DIVIDENDS


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

DividendMay 25, 2017 0.05 0.05 10.5052 10.4552 0.05 0.05 10.8546 10.8046May 10, 2017 0.05 0.05 10.5335 10.4835 0.05 0.05 10.8785 10.8285Apr 25, 2017 - - - - 0.0161 0.0161 10.8754 10.8593

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. @ Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. #Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

11

AVERAGE MATURITY*@

119 daysMODIFIED DURATION*@

109 daysPORTFOLIO YIELD (YIELD TO MATURITY&)

6.75%PORTFOLIO TURNOVER# (1 YEAR)

11.42 times

FIXEDINCOME

J U N E 2 0 1 7

Bond markets rallied during the month (30 bps on a point to point basis) on account of lower CPI print and less hawkish statements by the serving Chief Economic Advisor. This was however a tactical rally as bond markets were already in an over sold off zone after RBI’s April monetary policy, where the central bank maintained status quo on the repo rate. The GST Council’s approval on rates for various goods & services as well as the passage of GST Bill by various states set expectations of a timely kick-off by July 1st. The single tax would replace indirect tax levies and improve taxation efficiencies. While the announced GST rates imply that GST will be neutral on inflation, with the lower final tax rates on several goods being offset by some higher tax rates on services and some goods, implementation is likely to be a hiccup and may cause temporary supply chain interruptions. The Reserve Bank is unlikely to let its guard down on its inflationary impact until it sees some meaningful progress in implementation. RBI’s key focus on delivering retail inflation close to the 4% target would remain uncompromised.Headline consumer price index (CPI) for April cooled off over previous month owing primarily to lower food inflation (CPI print was 2.99% versus 3.81% in March). Oil prices remained supported as OPEC approved an extension in production cut. Expectations of a normal monsoon season would be positive for rural demand and drive a broad-based economic recovery in 2H17.At its policy meeting in May, the US central bank chose to hold fire on raising interest rates, yet downplayed the recent economic weakness seen in the U.S., declaring that the slowing in growth during the first quarter was likely "to be transitory" and economic conditions were likely to improve. US & Indian bond markets have already priced in a Fed rate hike in June and the event is not expected to be disruptive. Voters in France chose Emmanuel Macron to be their next President who is seen to be pro-European Union. Macron’s victory was welcomed with a sigh of relief in Europe, where many saw it as a test of support for the populist uprisings around the continent.Our core view remains that we are nearing the end of the rate cycle and expect RBI to be on hold in the upcoming policy. Any positive surprise on inflation may lead RBI to cut rates, however this would be a one-off event rather than a structural change in stance. Incase core inflation undershoots RBI’s expectation on a sustained basis, then there can be a change in RBI stance. Today, surplus liquidity stands at ` 3.5 lakh crore. We expect liquidity to remain in surplus to neutral zone for the next one year. Hence, we believe that the levers have shifted to a play on accrual and liquidity.The yield curve offers great steepness in the short segment up to 5 years maturity. Thus short bonds offer a yield pick up relative to money market, and at the same time are not as exposed to the volatility of the long end. Our preferred part of the curve is between 1 and 5 years. Credit environment has improved with commodity price softening and lower import prices leading to improving corporate profitability on account of both better operating performance and a reduction in leverage.Ratings data also confirms the improvement in credit quality in the last two years. However, heavily indebted / highly leveraged companies appear to be still in a downgrade cycle. The fact that many more companies are being upgraded suggests a widening in the investible corporate space.Also, the market pricing of credits has improved. Compared to the previous cycle, yield spreads are wider. As investors, this presents an investment opportunity where the macro and rating developments are improving while yield spreads are relatively wide. Thus we have been increasing our allocation to below-AAA bonds. The ratings and micro level analysis still urges caution and we believe the investment process needs to be strong with well-developed risk management.

10 YEAR G-SEC YIELD

6.66%

QUICK TAKE

CPI Inflation : Last 1 year2.99%

5.76%

Repo : Last 1 year

6.50%

6.25%

10 yr G-Sec : Last 1 year6.66%

7.46%

• We are nearing the end of the rate cycle and expect RBI to be on hold in the upcoming policy. Any positive surprise on inflation may lead RBI to cut rates, however this would be a one-off event rather than a structural change in stance.

• Incase core inflation undershoots RBI’s expectation on a sustained basis, then there can be a change in RBI stance.

• We expect liquidity to remain in surplus to neutral zone for the next one year. Hence we believe that the levers have shifted to a play on accrual and liquidity.

• Investor should look to invest in short to medium term funds as a core portfolio allocation. Investors who wish to participate in long bonds can look to do so through dynamic bond funds.

12


PORTFOLIO

RATING % OF ASSETSTOTAL MONEY MARKET INSTRUMENTS^ 94.12BANKS 11.29IndusInd Bank Limited CRISIL A1+ 3.29Yes Bank Limited ICRA A1+ 1.94IDFC Bank Limited ICRA A1+ 1.31The Federal Bank Limited CRISIL A1+ 1.23Oriental Bank of Commerce CRISIL A1+ 1.16Kotak Mahindra Bank Limited CRISIL A1+ 0.98RBL Bank Limited ICRA A1+ 0.49ICICI Bank Limited ICRA A1+ 0.49HDFC Bank Limited CARE A1+ 0.39OTHERS 60.13NABARD CRISIL A1+ 5.13Export Import Bank of India CRISIL A1+ 4.30Indiabulls Housing Finance Limited CRISIL A1+ 3.90Piramal Finance Private Limited ICRA A1+ 3.28Welspun Renewables Energy Private Limited

FITCH A1+(SO)

2.94HDFC Limited ICRA A1+ 2.57Tata Steel Limited IND A1+ 2.41India Infoline Finance Ltd ICRA A1+ 2.20Aditya Birla Finance Ltd ICRA A1+ 1.99Reliance Jio Infocomm Limited CARE A1+ 1.93Dewan Housing Finance Corporation Limited

CRISIL A1+ 1.92L&T Finance Ltd CARE A1+ 1.68Network18 Media & Investments Limited ICRA A1+ 1.58Chennai Petroleum Corporation Limited ICRA A1+ 1.56Sun Pharmaceutical Industries Limited ICRA A1+ 1.47JSW Steel Limited CARE A1+ 1.47Adani Ports and Special Economic Zone Limited

ICRA A1+ 1.45Adani Transmission Limited IND A1+ 1.10Bharat Aluminium Co Ltd.

CRISIL A1+(SO)

1.02Gruh Finance Limited CRISIL A1+ 0.98Vedanta Limited CRISIL A1+ 0.98Hero Fincorp Limited CRISIL A1+ 0.98Tata Capital Housing Finance Ltd CRISIL A1+ 0.98TVS Credit Services Ltd ICRA A1+ 0.98Kotak Mahindra Prime Ltd CRISIL A1+ 0.98Muthoot Finance Limited CRISIL A1+ 0.97Reliance Industries Limited CRISIL A1+ 0.74Redington (India) Limited ICRA A1+ 0.74Mahindra & Mahindra Financial Services Limited

CRISIL A1+ 0.73JM Financial Products Ltd ICRA A1+ 0.73Sundaram Finance Limited ICRA A1+ 0.61Edelweiss Commodities Services Ltd CRISIL A1+ 0.54Talwandi Sabo Power Ltd CRISIL

A1+(SO) 0.49Sheba Properties Limited ICRA A1+ 0.49L&T Infrastructure Finance Co Ltd CARE A1+ 0.49Emami Limited CRISIL A1+ 0.49IIFL Wealth Management Ltd ICRA A1+ 0.49Sheba Properties Limited CARE A1+ 0.49Vodafone Mobile Services Ltd CRISIL A1+ 0.49Mahindra Rural Housing Finance IND A1+ 0.37TVS Credit Services Ltd CRISIL A1+ 0.25Adani Gas Ltd. CARE A1+ 0.24Tata Power Solar Systems Ltd CRISIL

A1+(SO) 0.24JM Financial Services Ltd ICRA A1+ 0.24SRF Limited IND A1+ 0.15Hindustan Zinc Limited CRISIL A1+ 0.12Bharti Airtel Limited ICRA A1+ 0.12IFMR Capital Finance Pvt Ltd ICRA A1+ 0.12TREASURY BILL 22.7091 Days Tbill Sovereign 9.8635 Days CMB Sovereign 4.4277 Days CMB Sovereign 3.26364 Days Tbill Sovereign 2.75182 Days Tbill Sovereign 2.41TOTAL DEBT 0.38CORPORATE BOND 0.26Dewan Housing Finance Corporation Limited

CARE AAA 0.15Indiabulls Housing Finance Limited BWR AAA 0.09LIC Housing Finance Limited CRISIL AAA 0.02ZERO COUPON BOND 0.12JM Financial Products Ltd ICRA AA 0.12NET CURRENT ASSETS 5.50NET ASSETS 100%^Certificate of Deposit/Commercial Paper/Treasury Bill^^Aggregate Investments by other schemes of Axis Mutual Fund as on April 30, 2017 - Rs.79,400 Lakhs

DATE OF ALLOTMENT

9th October 2009MONTHLY AVERAGE

20,320.30 Cr.

AS ON 31ST MAY’17

20,008.81 Cr.

BENCHMARK


AVERAGE MATURITY*

36 daysMODIFIED DURATION*


6.40%


He has been managing this fund since5th November 2012.

Mr. Aditya PagariaWork experience: 9 years.

He has been managing this fund since13th August 2016.

FUND MANAGER

Total Money Market Instruments* - 99.62% Corporate Bond - 0.26% Zero Coupon Bond - 0.12%

ICRA A1+/ CRISIL A1+/ CARE A1+/ CRISIL AAA/ CARE AAA/ CRISIL A1+(SO)/ IND A1+/ BWR AAA/ FITCH A1+(SO) & Equivalent - 77.18%

SOV - 22.70% ICRA AA - 0.12%

COMPOSITION BY ASSETS (%) COMPOSITION BY RATING (%)

Inte

rnal

Rat

e Se

nsiti

vity

High

Med

Low

High Mid LowCredit Quality

FUND STYLE

Credit Risk Rating[ICRA] A1+mfs^

CARE AAA mfs^

* Includes Net Current Assets

INVESTMENT OBJECTIVE: To provide a high level of liquidity with reasonable returns commensurating with low risk through a portfolio of money market and debt securities. However, there can be no assurance that the investment objective of the Scheme will be achieved.

AXIS LIQUID FUND(AN OPEN-ENDED LIQUID SCHEME)

FACTSHEETMAY 2017

NIL

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Liquid Fund - Growth 7.02% 8.00% 8.49% 8.13% 18,17609-Oct-09Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.73% 17,668

Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.63% 7.38% 6.56% 16,253Axis Liquid Fund - Direct Plan - Growth 7.11% 8.08% - 8.47% 14,322

31-Dec-12Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% - 8.32% 14,231Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.63% - 7.31% 13,658Axis Liquid Fund - Retail Plan - Growth 6.46% 7.44% 7.96% 7.88% 17,341

01-Mar-10Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.99% 17,470Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.63% 7.38% 6.78% 16,091Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 1,000 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 46 schemes & Aditya Pagaria is managing the scheme since 13th August 2016 and he manages 4 schemes. Please refer to annexure on Page 29-30 for performance of all schemes managed by the fund managers.

DIVIDENDS

Regular Plan Retail Plan Direct Plan

Options Record Date

Dividend (` Per unit)

NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)


NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)


NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)

Individu-als/ HUF

OthersIndividuals/

HUFOth-ers

Individuals/ HUF

Others

Monthly Dividend

May 25, 2017 3.8520 3.5688 1,005.9228 1,000.5896 3.5421 - 1,005.0955 1,000.2201 3.9006 - 1,005.6196 1,000.2192Apr 25, 2017 3.8378 3.5556 1,005.9031 1,000.5896 3.5322 - 1,005.1100 1,000.2195 3.8846 - 1,005.5976 1,000.2192Mar 27, 2017 3.6880 3.4169 1,005.6958 1,000.5896 3.3854 - 1,004.9065 1,000.2195 3.7321 - 1,005.3864 1,000.2192

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 1000. Dividends disclosed above are since the inception of the fund. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

13

^^



Options Record Date


NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)


NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)


NAV per unit

(Cum Dividend)

NAV per unit

(Ex Dividend)

Indi-viduals/

HUFOthers

Individu-als/ HUF

OthersIndi-

viduals/ HUF

Others

Monthly Dividend

May 25, 2017 3.6422 3.3743 1,010.4941 1,005.4514 3.4732 - 1,010.2569 1,005.4482 4.0786 3.7777 1,011.0997 1,005.4530Apr 25, 2017 3.8895 3.6035 1,010.8365 1,005.4514 3.8126 - 1,010.7267 1,005.4482 4.3438 4.0185 1,011.4672 1,005.4530Mar 27, 2017 3.4835 3.2274 1,010.2744 1,005.4514 3.2111 - 1,009.8945 1,005.4482 3.8444 3.5598 1,010.7759 1,005.4530

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 1000. Dividends disclosed above are since the inception of the fund. * For instruments with put/call option, the put/call date has been taken as the maturity date.& The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

PORTFOLIO

RATING % OF ASSETSTOTAL MONEY MARKET INSTRUMENTS^

39.30

BANKS 13.08HDFC Bank Limited CARE A1+ 8.68Kotak Mahindra Bank Limited CRISIL A1+ 2.29IndusInd Bank Limited CRISIL A1+ 1.81ICICI Bank Limited ICRA A1+ 0.30OTHERS 23.73Shapoorji Pallonji and Company Private Ltd

ICRA A1+ 4.54

Adani Transmission Limited IND A1+ 3.99L&T Finance Ltd CARE A1+ 3.98Housing Development Finance Corporation Limited

ICRA A1+ 2.58

Indian Railway Finance Corp Ltd CRISIL A1+ 1.66Redington (India) Limited ICRA A1+ 1.53Adani Ports and Special Economic Zone Limited ICRA A1+ 1.48

Vedanta Limited CRISIL A1+ 1.07Cholamandalam Investment and Finance Company Limited

ICRA A1+ 0.77

Small Industries Dev Bank of India CARE A1+ 0.77Barclays Invest & Loans India Ltd ICRA A1+ 0.75Reliance Jio Infocomm Limited CARE A1+ 0.31Export Import Bank of India CRISIL A1+ 0.15Gruh Finance Limited CRISIL A1+ 0.15TREASURY BILL 2.4891 Days Tbill Sovereign 2.48TOTAL DEBT 39.99CORPORATE BOND 36.00Indiabulls Housing Finance Limited BWR AAA 4.07NABARD CRISIL AAA 2.81Citicorp Finance India Ltd ICRA AAA 2.76Power Finance Corporation Limited CRISIL AAA 2.71Tata Capital Financial Services Ltd CRISIL AA+ 2.33L&T Finance Ltd CARE AA+ 2.31Indian Railway Finance Corp Ltd CRISIL AAA 2.31Tata Power Company Limited ICRA AA 2.30LIC Housing Finance Limited CRISIL AAA 1.72Piramal Finance Private Limited ICRA AA 1.56Edelweiss Commodities Services Ltd CRISIL AA 1.54Daimler Financial Services India Pvt Ltd

IND AAA 1.23

JM Financial Products Ltd CRISIL AA 1.23UPL Limited BWR AA+ 0.79Export Import Bank of India CRISIL AAA 0.78L&T Infrastructure Finance Co Ltd CARE AA+ 0.77HDB Financial Services Ltd CRISIL AAA 0.77Mahindra Rural Housing Finance IND AA+ 0.77Muthoot Finance Limited CRISIL AA 0.77Shriram Transport Finance Company Limited

CRISIL AA+ 0.58Mahindra & Mahindra Financial Services Limited

IND AAA 0.47Cholamandalam Investment and Finance Company Limited

ICRA AA 0.47

Emami Limited CRISIL AA+ 0.43Power Grid Corporation of India Limited

CRISIL AAA 0.31

Reliance Jio Infocomm Limited CRISIL AAA 0.16Small Industries Dev Bank of India CARE AAA 0.06ZERO COUPON BOND 3.99Dewan Housing Finance Corporation Limited

CARE AAA 2.58

Sundaram BNP Paribas Home Finance Ltd

ICRA AA+ 0.78

JM Financial Products Ltd ICRA AA 0.63NET CURRENT ASSETS 20.71NET ASSETS 100%^Certificate of Deposit/Commercial Paper/Treasury Bill

DATE OF ALLOTMENT

9th October 2009MONTHLY AVERAGE

3,446.93 Cr.

AS ON 31ST MAY’17

3,256.02 Cr.

BENCHMARK


AVERAGE MATURITY*

157 daysMODIFIED DURATION

*


6.94%


He has been managing this fund since07th June 2016.



FUND MANAGER

Total Money Market Instruments* - 60.01% Corporate Bond - 36.00% Zero Coupon Bond - 3.99%

ICRA A1+/ CRISIL A1+/ CARE A1+/ CRISIL AAA/ CARE AAA/ ICRA AAA/ IND A1+/ BWR AAA/ IND AAA & Equivalent - 80.26%

CRISIL AA+/ CARE AA+/ ICRA AA+/ IND AA+/ BWR AA+ - 8.77%, ICRA AA/ CRISIL AA - 8.49%, SOV - 2.48%


Inte

rnal

Rat

e Se

nsiti

vity

High

Med

Low


FUND STYLE

Credit Risk Rating[ICRA] A1+mfs^


INVESTMENT OBJECTIVE: To provide optimal returns and liquidity to the investors by investing primarily in a mix of money market and short term debt instruments which results in a portfolio having marginally higher maturity as compared to a liquid fund at the same time maintaining a balance between safety and liquidity.

However, there can be no assurance that the investment objective of the Scheme will be achieved.

AXIS TREASURY ADVANTAGE FUND(AN OPEN-ENDED DEBT SCHEME)

FACTSHEETMAY 2017

NIL

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Treasury Advantage Fund - Growth 7.53% 8.15% 8.63% 8.26% 18,34809-Oct-09Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.73% 17,668

Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% 7.38% 6.56% 16,253Axis Treasury Advantage Fund - Direct Plan - Growth 8.01% 8.62% - 8.98% 14,616

01-Jan-13Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% - 8.32% 14,229Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.31% 13,652Axis Treasury Advantage Fund - Retail Plan - Growth 6.90% 7.49% 7.86% 7.80% 17,242

03-Mar-10Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.99% 17,460Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% 7.38% 6.78% 16,089

Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 1,000 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 7th June 2016 and he manages 46 schemes & Aditya Pagaria is managing the scheme since 13th August 2016 and he manages 4 schemes. Please refer to annexure on 29-30 for performance of all schemes managed by the fund managers.

DIVIDENDS

14


PORTFOLIO

DATE OF ALLOTMENT

22nd January 2010

MONTHLY AVERAGE

6,664.33 Cr.

AS ON 31ST MAY’17

6,823.76 Cr.

BENCHMARK

Crisil Short Term Bond Fund Index

AVERAGE MATURITY*

2.1 yearsMODIFIED DURATION

*

1.7 yearsPORTFOLIO YIELD (YIELD TO MATURITY&)

7.25%



FUND MANAGER

Corporate Bond - 66.05% Total Money Market Instruments* - 20.36% State Government Bond - 6.03% Government Bond - 5.27% Zero Coupon Bond - 2.28%


Inte

rnal

Rat

e Se

nsiti

vity

High

Med

Low


FUND STYLE

Credit Risk Rating[ICRA]AAAmfs$


INVESTMENT OBJECTIVE: To generate stable returns with a low risk strategy while maintaining liquidity through a portfolio comprising of debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be achieved.

AXIS SHORT TERM FUND(AN OPEN-ENDED DEBT SCHEME)

FACTSHEETMAY 2017

NIL (w.e.f. 28th August 2015)

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Short Term Fund - Growth 8.56% 8.70% 8.77% 8.29% 17,96722-Jan-10Crisil Short Term Bond Fund Index Benchmark) 8.82% 9.07% 9.08% 8.31% 17,991

Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% 7.38% 6.71% 16,127Axis Short Term Fund - Direct Plan - Growth 9.31% 9.56% - 9.40% 14,865

01-Jan-13Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.04% 14,653Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.31% 13,652Axis Short Term Fund - Retail Plan - Growth 8.56% 8.71% 8.72% 8.25% 17,765

02-Mar-10Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% 9.08% 8.40% 17,954Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% 7.38% 6.78% 16,089Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above.Devang Shah is managing the scheme since 5th November 2012 and he manages 46 schemes of Axis Mutual Fund. Please refer to annexure on Page 30 for performance of all schemes managed by the fund manager.

DIVIDENDS


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Individuals/ HUF

Others

Monthly Dividend

May 25, 2017 0.0394 0.0365 10.2440 10.1895 0.0375 0.0347 10.0901 10.0382 0.0416 0.0385 10.0972 10.0396Apr 25, 2017 0.0397 0.0368 10.2432 10.1882 0.0387 0.0358 10.0885 10.0349 0.0427 0.0395 10.0954 10.0363Mar 27, 2017 0.0375 0.0348 10.2368 10.1848 0.0360 0.0334 10.0808 10.0309 0.0400 0.0371 10.0877 10.0323


15

ICRA A1+/ CRISIL A1+/ CARE A1+/ CRISIL AAA/ CARE AAA/ ICRA AAA/ IND AAA/ BWR AAA/ CRISIL AAA(SO) & Equivalent - 79.52%

SOV - 12.40% ICRA AA/ CRISIL AA - 4.40%

CRISIL AA+/ CARE AA+/ ICRA AA+ - 3.68%

RATING % OF ASSETS

TOTAL DEBT 79.64CORPORATE BOND 66.05Power Finance Corporation Limited CRISIL AAA 8.76HDFC Limited CRISIL AAA 7.49NABARD CRISIL AAA 6.81Reliance Jio Infocomm Limited CRISIL AAA 5.88LIC Housing Finance Limited CRISIL AAA 3.79Rural Electrification Corporation Limited CRISIL AAA 3.56NABARD IND AAA 3.52Indiabulls Housing Finance Limited BWR AAA 2.44Power Grid Corporation of India Limited CRISIL AAA 2.29Dewan Housing Finance Corporation Limited BWR AAA 2.12Vodafone Mobile Services Ltd CRISIL AA 2.07HDB Financial Services Ltd CRISIL AAA 1.85Tata Sons Ltd CRISIL AAA 1.72Shriram Transport Finance Company Limited CRISIL AA+ 1.59Mahindra & Mahindra Financial Services Limited

IND AAA 1.33

Cholamandalam Investment and Finance Company Limited

ICRA AA 1.30

Gruh Finance Limited ICRA AAA 1.11Nirma Ltd CRISIL AA 1.03State Bank of India CRISIL AAA 0.89Daimler Financial Services India Pvt Ltd IND AAA 0.88Tata Capital Financial Services Ltd ICRA AA+ 0.74Small Industries Dev Bank of India CARE AAA 0.74Oriental Nagpur Betul Highway Limited CRISIL AAA(SO) 0.66L&T Infrastructure Finance Co Ltd CARE AA+ 0.59IDFC Bank Limited ICRA AAA 0.58Citicorp Finance India Ltd ICRA AAA 0.51Tata Motors Limited CARE AA+ 0.39Bajaj Finance Limited CRISIL AAA 0.37Rural Electrification Corporation Limited CARE AAA 0.31UltraTech Cement Limited CRISIL AAA 0.27Bajaj Finance Limited CARE AAA 0.16Larsen & Toubro Limited CRISIL AAA 0.14Export Import Bank of India CRISIL AAA 0.08Indiabulls Housing Finance Limited CARE AAA 0.08Indian Railway Finance Corp Ltd CRISIL AAA 0.01STATE GOVERNMENT BOND Sovereign 6.03GOVERNMENT BOND Sovereign 5.27ZERO COUPON BOND 2.28Dewan Housing Finance Corporation Limited CARE AAA 1.56Sundaram BNP Paribas Home Finance Ltd ICRA AA+ 0.37Mahindra & Mahindra Financial Services Limited

IND AAA 0.17

Indiabulls Housing Finance Limited CARE AAA 0.17Axis Finance Limited IND AAA 0.02HDB Financial Services Ltd CRISIL AAA 0.00TOTAL MONEY MARKET INSTRUMENTS^ 12.83BANKS 9.37IndusInd Bank Limited CRISIL A1+ 3.74HDFC Bank Limited CARE A1+ 2.54IDFC Bank Limited ICRA A1+ 1.06NABARD CRISIL A1+ 0.98Kotak Mahindra Bank Limited CRISIL A1+ 0.69ICICI Bank Limited ICRA A1+ 0.36OTHERS 2.37Indian Railway Finance Corp Ltd CRISIL A1+ 2.15Larsen & Toubro Limited CRISIL A1+ 0.15Bharti Airtel Limited ICRA A1+ 0.07TREASURY BILL 1.0991 Days Tbill Sovereign 1.09NET CURRENT ASSETS 7.53NET ASSETS 100%



Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Half Yearly Dividend

Mar 27, 2017 0.3611 0.3346 11.2460 10.7460 0.3611 0.3346 11.8203 11.3203Sep 26, 2016 0.3611 0.3346 11.3942 10.8942 0.3611 0.3346 11.9017 11.4017Mar 28, 2016 0.3611 0.3345 11.0764 10.5764 0.3611 0.3345 11.4947 10.9947Sep 28, 2015 0.2889 0.2676 11.1709 10.7709 0.2889 0.2676 11.5136 11.1136

Quarterly DividendMar 27, 2017 0.1806 0.1673 10.7941 10.5441 0.1806 0.1673 11.4189 11.1689Dec 26, 2016 0.1805 0.1672 10.9387 10.6887 0.1805 0.1672 11.5337 11.2837Sep 26, 2016 0.1806 0.1673 10.9510 10.7010 0.1806 0.1673 11.5087 11.2587

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ̀ 10. Half Yearly Dividends disclosed above are for the last 2 Years. Quarterly Dividends disclosed above are for the last 3 quarters. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 95.68

GOVERNMENT BOND Sovereign 58.93

CORPORATE BOND 19.45

Reliance Gas Transportation Infrastructure Ltd

CRISIL AAA 5.34

Power Finance Corporation Limited CRISIL AAA 2.95

Rural Electrification Corporation Limited

CRISIL AAA 1.55

Power Grid Corporation of India Limited

CRISIL AAA 1.53

ICICI Bank Limited ICRA AA+ 1.49

Vedanta Limited CRISIL AA 1.49

NABARD CRISIL AAA 1.48

Tata Sons Ltd CRISIL AAA 1.48

Tata Power Company Limited CRISIL AA- 1.28

India Infrastructure Fin Co Ltd CRISIL AAA 0.86

STATE GOVERNMENT BOND Sovereign 17.30

NET CURRENT ASSETS 4.32

NET ASSETS 100%

DATE OF ALLOTMENT

27th April 2011MONTHLY AVERAGE

339.64 Cr.

AS ON 31ST MAY’17

338.82 Cr.

BENCHMARK

Crisil Composite Bond Fund Index

AVERAGE MATURITY*

7.5 yearsMODIFIED DURATION*


7.23%

Mr. R. SivakumarWork experience: 18 years.

He has been managing this fund since inception



FUND MANAGER

Government Bond - 58.93% Corporate Bond - 19.45% State Government Bond -17.30% Total Money Market Instruments* - 4.32%

SOV - 76.23% CRISIL AAA & Equivalent - 19.52% ICRA AA + - 1.49% CRISIL AA - 1.49% CRISIL AA - - 1.28%

COMPOSITION BY ASSETS (%) COMPOSITION BY RATING (%)In

tern

al R

ate

Sens

itivi

ty

High

Med

Low


FUND STYLE


INVESTMENT OBJECTIVE: To generate optimal returns while maintaining liquidity through active management of a portfolio of debt and money market instruments.

AXIS DYNAMIC BOND FUND(AN OPEN-ENDED DEBT FUND)

FACTSHEETMAY 2017

EXIT LOAD

If redeemed/switched out within 12 months from the date of allotment:- For 10% of investment : Nil- For remaining investment : 1% If redeemed/switched out after 12 months from the date of allotment: Nil (w.e.f. 22nd June 2015


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Dynamic Bond Fund - Growth 10.56% 10.09% 9.22% 9.18% 17,089

27-Apr-11Crisil Composite Bond Fund Index (Benchmark) 10.95% 10.67% 9.42% 9.19% 17,096CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.84% 15,847

Axis Dynamic Bond Fund - Direct Plan -Growth 11.55% 11.36% - 10.36% 15,449

01-Jan-13Crisil Composite Bond Fund Index (Benchmark) 10.95% 10.67% - 9.36% 14,844CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% - 8.03% 14,065

Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. Calculations are based on Growth Option NAV. Since inception returns are calculated at Rs. 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. R. Sivakumar is managing the scheme since inception and he manages 5 schemes & Devang Shah is managing the schmes since 5th November 2012 and he manages 46 schemes. Please refer to annexure on Page 29&30 for performance of all schemes managed by the fund managers.

DIVIDENDS

16



Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Half Yearly Dividend Mar 27, 2017 0.3611 0.3346 11.3750 10.8750 0.3611 0.3346 11.5724 11.0724Sep 26, 2016 0.3611 0.3346 11.4980 10.9980 0.3611 0.3346 11.6564 11.1564Mar 28, 2016 0.3611 0.3345 11.2292 10.7292 0.3611 0.3345 11.3351 10.8351Sep 28, 2015 0.2889 0.2676 11.3054 10.9054 0.2889 0.2676 11.3459 10.9459

Quarterly DividendMar 27, 2017 0.1806 0.1673 10.7549 10.5049 0.1806 0.1673 11.2694 11.0194Dec 26, 2016 0.1805 0.1672 10.8011 10.5511 0.1805 0.1672 11.2898 11.0398Sep 26, 2016 0.1806 0.1673 10.8953 10.6453 0.1806 0.1673 11.3606 11.1106

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10.Half yearly dividend disclosed above are since the inception of the fund. Quarterly dividends disclosed above are for the last 3 Quarters.* For instruments with put/call option, the put/call date has been taken as the maturity date.& The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

DATE OF ALLOTMENT

28th March 2012MONTHLY AVERAGE

300.41Cr.

AS ON 31ST MAY’17

325.64 Cr.

BENCHMARK

Crisil Composite Bond Fund Index

AVERAGE MATURITY*


*


8.42%


He has been managing this fund since 5th November 2012.

FUND MANAGER

Corporate Bond - 83.40%, Zero Coupon Bond - 6.77%, Total Money Market Instruments* - 3.76%, Miscellaneous - 2.98%, Government Bond - 1.81% State Government Bond - 1.27%

BWR A1+(SO)/ CRISIL AAA/ BWR AAA/ CRISIL AAA(SO) & Equivalent - 38.30%

ICRA AA/ CRISIL AA/ CARE AA/ CARE AA(SO)/ IND AA - 31.70% CRISIL AA-/ BWR AA-(SO)/ CARE AA- - 10.73% CRISIL AA+/ ICRA AA+/ IND AA+ - 9.00% BWR A+(SO)/ CARE A+/ ICRA A+- 7.18% SOV - 3.08%

COMPOSITION BY ASSETS (%) COMPOSITION BY RATING (%)In

tern

al R

ate

Sens

itivi

ty

High

Med

Low


FUND STYLE


PORTFOLIO

INVESTMENT OBJECTIVE: To generate optimal returns in the medium term while maintaining liquidity of the portfolio by investing in debt and money market instruments.

FACTSHEETMAY 2017

EXIT LOAD

If redeemed / switched-out within 12 months from the date of allot-mentFor 10% of investment : NilFor remaining investment : 1%If redeemed/switched out after 12 months from the date of allotment : Nil (w.e.f. 30th June 2016)


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Regular Savings Fund - Growth 10.77% 10.23% 9.42% 9.47% 15,977

28-Mar-12Crisil Composite Bond Fund Index (Benchmark) 10.95% 10.67% 9.42% 9.42% 15,937Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 8.65% 15,365Axis Regular Savings Fund - Direct Plan - Growth 11.42% 11.26% - 10.16% 15,304

07-Jan-13Crisil Composite Bond Fund Index (Benchmark) 10.95% 10.67% - 9.29% 14,781Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% - 7.88% 13,961Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 46 schemes of Axis Mutual Fund. Please refer to annexure on Page 30 for performance of all schemes managed by the fund manager.

DIVIDENDS

17

(AN OPEN-ENDED DEBT SCHEME)

AXIS REGULAR SAVINGS FUND

Note: Note: The scheme was reanamed earlier known as Axis Income Fund and was renamed w.e.f. April 10, 2017.

RATING % OF ASSETS

TOTAL DEBT 93.26


Reliance Jio Infocomm Limited CRISIL AAA 6.29

Rural Electrification Corporation Limited CRISIL AAA 5.91

Dewan Housing Finance Corporation Limited BWR AAA 4.65

Indiabulls Housing Finance Limited BWR AAA 4.62

Reliance Gas Transportation Infrastructure Ltd CRISIL AAA 3.69

Dalmia Cement (Bharat) Ltd ICRA AA 3.41

Oriental Nagpur Betul Highway Limited CRISIL AAA(SO) 3.40

Muthoot Finance Limited CRISIL AA 3.39

Vodafone Mobile Services Ltd CRISIL AA 3.11

Nuvoco Vistas Corporation Limited CRISIL AA 3.10


HDFC Bank Limited CRISIL AA+ 3.09

Birla Corporation Limited ICRA AA 3.08

Tube Investments of India Limited CRISIL AA 3.06

Tata Power Company Limited CRISIL AA- 3.00

Adani Transmission Limited IND AA+ 2.81

JM Financial Products Ltd CRISIL AA 2.77

Hinduja Leyland Finance Ltd CARE A+ 2.45

Hindalco Industries Limited CRISIL AA- 2.28

Hansdeep Industries & Trading Co. Ltd. CARE AA(SO) 2.21

Cyquator Media Services Private Limited$ BWR A1+(SO) 2.15

PVR Limited CRISIL AA- 1.64

ECL Finance Ltd ICRA AA 1.57

Equitas Small Finance Bank Limited CARE A+ 1.56

Ujjivan Small Finance Bank Ltd ICRA A+ 1.54

JK Lakshmi Cement Limited CARE AA 1.53

IndoStar Capital Finance Ltd CARE AA- 1.29

SRF Limited IND AA 1.24


India Infoline Finance Ltd ICRA AA 0.62

ZERO COUPON BOND 6.77

Adani Power Limited~ BWR AA-(SO) 2.53

Edelweiss Commodities Services Ltd CARE AA 1.65

Amri Hospitals Ltd# BWR A+(SO) 1.63

Tata Motors Finance Ltd CRISIL AA 0.95

GOVERNMENT BOND Sovereign 1.81

STATE GOVERNMENT BOND Sovereign 1.27

MISCELLANEOUS 2.98

MFL Securitisation Trust CRISIL AAA(SO) 2.98

NET CURRENT ASSETS 3.76NET ASSETS 100%~ Secured by shares of Adani Ports & SEZ Ltd and Adani Transmission Limited$ Secured by shares of Zee Entertainment Enterprises Ltd# Secured by shares of Emami Ltd


PORTFOLIO

DATE OF ALLOTMENT

15th July 2014MONTHLY AVERAGE

1,837.72 Cr.

AS ON 31ST MAY’17

1,841.15 Cr.

BENCHMARK


AVERAGE MATURITY*


*


8.12%



FUND MANAGER

Corporate Bond - 71.52% Government Bond -5.55% State Government Bond - 4.13% Zero Coupon Bond - 11.11% Miscellaneous - 3.25% Total Money Market Instruments* - 4.44%

ICRA A1+/ CARE A1+/ BWR A1+(SO)/ CRISIL AAA/ CARE AAA/ BWR AAA/ ICRA AAA/ CRISIL AAA(SO) & Equivalent - 37.25%

ICRA AA/ CRISIL AA/ CARE AA/ ICRA AA(SO)/ CARE AA(SO) - 32.15% CRISIL AA+/ CARE AA+/ ICRA AA+/ IND AA+/ BWR AA+ - 10.67% SOV - 9.68%, BWR A+(SO)/ ICRA A+/ CARE A+- 5.93% FITCH AA-(SO)/ CARE AA-/ BWR AA-(SO) - 4.32%


Inte

rnal

Rat

e Se

nsiti

vity

High

Med

Low


FUND STYLE


INVESTMENT OBJECTIVE: To generate stable returns by investing in debt & money market instruments across the yield curve & credit spectrum. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

AXIS FIXED INCOME OPPORTUNITIES FUND FACTSHEETMAY 2017

(AN OPEN-ENDED DEBT SCHEME)

EXIT LOAD

For 30% of investment: Nil For remaining investment: 1.5% if redeemed/switched out within 1 year, 1% if redeemed/switched out after 1 year and upto 2 years, 0.5% if redeemed/switched out after 2 years and upto 3 years from the date of allotment (w.e.f. 14th December 2015)


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Fixed Income Opportunities Fund - Growth 8.77% - - 9.47% 12,978

15-Jul-14CRISIL Short-Term Bond Fund Index (Benchmark) 8.82% - - 9.10% 12,851

CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% - - 7.62% 12,355Axis Fixed Income Opportunities Fund - Direct Plan - Growth 10.23% - - 10.64% 13,381

15-Jul-14CRISIL Short-Term Bond Fund Index (Benchmark) 8.82% - - 9.10% 12,851

CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% - - 7.62% 12,355Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 10 invested at inception. The performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 years.Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since inception and he manages 46 schemes. Please refer to annexure on Page 30 for performance of all schemes managed by the fund manager.

DIVIDENDS


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Monthly DividendMay 25, 2017 0.0441 0.0409 10.1862 10.1251 0.0565 - 10.1320 10.0536Apr 25, 2017 0.0426 0.0395 10.1803 10.1213 0.0483 - 10.1241 10.0571Mar 27, 2017 0.0330 0.0305 10.1623 10.1167 0.0399 - 10.1061 10.0508

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10.* For instruments with put/call option, the put/call date has been taken as the maturity date.& The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

18

RATING % OF ASSETS

TOTAL DEBT 92.31CORPORATE BOND 71.52Power Finance Corporation Limited CRISIL AAA 9.76Nirma Ltd CRISIL AA 4.36Muthoot Finance Limited CRISIL AA 3.64NABARD CRISIL AAA 3.24Adani Transmission Limited IND AA+ 3.04Dalmia Cement (Bharat) Ltd ICRA AA 3.01Nuvoco Vistas Corporation Limited CRISIL AA 2.76Indiabulls Housing Finance Limited BWR AAA 2.58ECL Finance Ltd ICRA AA 2.50Reliance Jio Infocomm Limited CRISIL AAA 2.32Hinduja Leyland Finance Ltd CARE A+ 2.28ICICI Bank Limited ICRA AA+ 2.19Oriental Nagpur Betul Highway Limited

CRISIL AAA(SO)

2.18

Birla Corporation Limited ICRA AA 2.18Tube Investments of India Limited CRISIL AA 2.16Cyquator Media Services Private Limited$ BWR A1+(SO) 2.07


CRISIL AAA 1.96

JM Financial Products Ltd CRISIL AA 1.96HDFC Bank Limited CRISIL AA+ 1.92JK Lakshmi Cement Limited CARE AA 1.89UPL Limited BWR AA+ 1.68Dewan Housing Finance Corporation Limited BWR AAA 1.64

Ujjivan Small Finance Bank Ltd ICRA A+ 1.63IndoStar Capital Finance Ltd CARE AA- 1.37Hansdeep Industries & Trading Co. Ltd.

CARE AA(SO) 1.28

Shriram Transport Finance Company Limited

CRISIL AA+ 1.27

India Infoline Finance Ltd ICRA AA 1.23LIC Housing Finance Limited CRISIL AAA 0.93HDFC Limited CRISIL AAA 0.83Tata Motors Limited CARE AA+ 0.57Rural Electrification Corporation Limited

CRISIL AAA 0.53

Tata Power Company Limited ICRA AA 0.49IDFC Bank Limited ICRA AAA 0.06ZERO COUPON BOND 11.11Adani Power Limited~ BWR AA-(SO) 2.35Amri Hospitals Ltd# BWR A+(SO) 2.02Tata Motors Finance Ltd CRISIL AA 1.68SVL Ltd.## ICRA AA(SO) 1.51Dewan Housing Finance Corporation Limited

CARE AAA 1.47

Edelweiss Commodities Services Ltd CARE AA 0.73

Dev Infracity Pvt Ltd*** FITCH AA-(SO)

0.59

Cholamandalam Investment and Finance Company Limited

ICRA AA 0.41

India Infoline Finance Ltd ICRA AA 0.34GOVERNMENT BOND Sovereign 5.55STATE GOVERNMENT BOND Sovereign 4.13TOTAL MONEY MARKET INSTRUMENTS^ 0.54

Others 0.27Piramal Finance Private Limited ICRA A1+ 0.27Banks 0.27HDFC Bank Limited CARE A1+ 0.27MISCELLANEOUS 3.25

MFL Securitisation TrustCRISIL

AAA(SO)3.25

NET CURRENT ASSETS 3.90NET ASSETS 100%^Certificate of Deposit/Commercial Paper~ Secured by shares of Adani Ports & SEZ Ltd and Adani Transmission Limited## Backed by corporate guarantee of Shriram Transport Finance Company Limited/ *** Secured by shares of Emami Ltd/ $ Secured by shares of Zee Enter-tainment Enterprises Ltd/# Secured by shares of Emami Ltd


EXIT LOAD

PORTFOLIO

% OF ASSETS

TOTAL DEBT 96.36

GOVERNMENT BOND 96.36

8.28% GOI Sovereign 25.25











NET ASSETS 100%

DATE OF ALLOTMENT

23rd January 2012

MONTHLY AVERAGE

78.27 Cr.

AS ON 31ST MAY’17

53.26 Cr.

BENCHMARK

Crisil 10 Year Gilt Index

AVERAGE MATURITY*

9.1 yearsMODIFIED DURATION*

6 yearsPORTFOLIO YIELD (YIELD TO MATURITY&)

7.06%


He has been managing this fund since 5th November 2012.

FUND MANAGER

Government Bond - 96.36%, Total Money Market Instruments* - 3.64%

SOV & Equivalent - 100.00%COMPOSITION BY ASSETS (%) COMPOSITION BY RATING (%)

Inte

rnal

Rat

e Se

nsiti

vity High

Med

Low


FUND STYLE


INVESTMENT OBJECTIVE: To generate returns similar to that of 10 year government bonds.

AXIS CONSTANT MATURITY 10 YEAR FUND(AN OPEN-ENDED GILT SCHEME)

FACTSHEETMAY 2017

NIL


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Constant Maturity 10 Year Fund - Growth 10.16% 10.11% 7.85% 7.63% 14,830

23-Jan-12Crisil 10 Year Gilt Index (Benchmark) 11.08% 10.69% 8.32% 8.07% 15,157Axis Constant Maturity 10 Year Fund - Direct Plan - Growth 10.73% 10.66% - 8.26% 14,197

Crisil 10 Year Gilt Index (Benchmark) 11.08% 10.69% - 8.03% 14,065 01-Jan-13Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 46 schemes. Please refer to annexure on Page 30 for performance of all schemes managed by the fund manager.

DIVIDENDS


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Half Yearly Dividend

Mar 27, 2017 0.3611 0.3346 11.9797 11.4797 - - - -Sep 26, 2016 0.1806 0.1673 11.9880 11.7380 - - - -Mar 28, 2016 0.3611 0.3345 11.5547 11.0547 0.3611 0.3345 11.7019 11.2019Jan 25, 2017 0.1120 0.1540 10.2619 10.1068 0.1153 - 10.2694 10.1098Dec 26, 2016 0.0632 0.0883 10.1460 10.0584 0.0666 - 10.1537 10.0615

Regular Dividend Nov 25, 2016 0.2295 0.3169 10.8078 10.4900 0.2329 - 10.8159 10.4934Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. Half yearly dividend disclosed above are since the inception of the fund. Regular dividends disclosed above are for the last 3 months. * For instruments with put/call option, the put/call date has been taken as the maturity date.& The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

19


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 53.17


National Bank For Agriculture and Rural Development

CRISIL AAA 11.32


Dewan Housing Finance Corporation Limited

BWR AAA 4.72


HDFC Bank Limited CRISIL AA+ 4.55

Indiabulls Housing Finance Limited BWR AAA 4.41

Small Industries Dev Bank of India CARE AAA 4.23

Mahindra Rural Housing Finance IND AA+ 3.76


CRISIL AAA 3.40


CRISIL AAA 1.56

JM Financial Products Ltd CRISIL AA 1.51

TOTAL MONEY MARKET INSTRUMENTS^ 44.35

BANKS 33.10

IndusInd Bank Limited CRISIL A1+ 10.74

HDFC Bank Limited CARE A1+ 5.97

ICICI Bank Limited ICRA A1+ 5.93

IDFC Bank Limited ICRA A1+ 4.46

Kotak Mahindra Bank Limited CRISIL A1+ 3.74

Oriental Bank of Commerce CRISIL A1+ 2.26

OTHERS 11.25

Piramal Finance Private Limited ICRA A1+ 3.76

Small Industries Dev Bank of India CARE A1+ 3.75Chennai Petroleum Corporation Limited

ICRA A1+ 3.73


NET ASSETS 100%

^Certificate of Deposit/ Commercial Paper

DATE OF ALLOTMENT

8th June 2012MONTHLY AVERAGE

647.92 Cr.

AS ON 31ST MAY’17

664.03 Cr.

BENCHMARK


AVERAGE MATURITY*

443 daysMODIFIED DURATION*


7.15%



FUND MANAGER

Corporate Bond - 53.17% Total Money Market Instruments* - 46.83%

ICRA A1+/ CRISIL A1+/ CARE A1+/ CRISIL AAA/ CARE AAA/ BWR AAA & Equivalent - 85.62%

CRISIL AA+/ ICRA AA+/ IND AA+ -12.88% CRISIL AA - 1.51%


Inte

rnal

Rat

e Se

nsiti

vity

High

Med

Low


FUND STYLE

Credit Risk Rating[ICRA] AAAmfs$


INVESTMENT OBJECTIVE: To generate stable returns by investing predominantly in debt & money market instruments issued by Banks, Public Sector Units (PSUs) & Public Financial Institutions (PFIs).The scheme shall endeavor to generate optimum returns with low credit risk.

AXIS BANKING & PSU DEBT FUND(AN OPEN-ENDED DEBT SCHEME)

FACTSHEETMAY 2017

NIL (w.e.f. 14th July 2014)

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Banking & PSU Debt Fund - Growth 7.81% 8.36% - 8.67% 15,130

08-Jun-12Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.06% 15,404Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.35% 14,238Axis Banking & PSU Debt Fund - Direct Plan - Growth 8.00% 8.55% - 8.76% 14,485

01-Jan-13Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.04% 14,653Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.31% 13,652Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 1,000 invested at inception. The scheme is in existence for less than 5 years, hence performance for 5 years period is not provided. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Aditya Pagaria is managing the scheme since 13th August 2016 and Rahul Vekaria is managing the scheme since May 10, 2017. Aditya manages 4 schemes and Rahul manages 1 scheme at Axis Mutual Fund. Please refer to annexure on Page 29-30 for performance of all schemes managed by the fund manager.

DIVIDENDS


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Monthly DividendMay 25, 2017 3.6034 - 1,012.4502 1,007.4611 3.7063 - 1,012.5940 1,007.4622Apr 25, 2017 4.3868 - 1,013.5348 1,007.4611 4.4824 - 1,013.6682 1,007.4622Mar 27, 2017 3.1732 - 1,011.8545 1,007.4611 3.2688 - 1,011.9880 1,007.4622


20

Mr. Rahul VekariaWork experience: 6 years.

He has been managing this fund since10th May 2017.

Quick Take - Equity

•

•

•

Equity market valuations are broadly reasonable.

We remain bullish on equities from a medium to long term perspective.

Investors are suggested to have their asset allocation plan based on one’s risk appetite and future goals in life.

Indian equity markets were volatile during May as large cap indices hit new all-time highs but mid-caps struggled. Nifty 50 Index was up 3.4 percent during the month of May while midcap indices were negative during the month as indicated by the BSE Midcap Index which was down 1.2 percent.

The market witnessed some amount of momentum post announcement of itemised tax rates under India’s landmark Goods and Services Tax (GST) reform. The GST Council’s approval on rates for various goods & services as well as the passage of GST Bill by several states set expectations of a timely kick-off by July 1st. The single tax would replace indirect tax levies and improve taxation efficiencies.

Market sentiment was helped by record buying by foreign investors over the past 3 months. Flows in May by Foreign Portfolio Investors in equity and debt markets were robust at US$ 1.2 and 2.9 billion respectively. Simultaneously, flows into domestic funds have remained strong over the last several months.

Equity market valuations are broadly reasonable. We remain bullish on equities from a medium to long term perspective Investors are suggested to have their asset allocation plan based on one’s risk appetite and future goals in life.

Bond markets rallied during the month (30 bps on a point to point basis) on account of lower CPI print and less hawkish statements by the serving Chief Economic Advisor. This was however, a tactical rally as bond markets were already in an over sold off zone after RBI’s April monetary policy, where the central bank maintained status quo on the repo rate.

Headline consumer price index (CPI) cooled off over month of March owing primarily to lower food inflation (CPI print was 2.99% versus 3.81% in March). While the announced GST rates imply that GST will be neutral on inflation, with the lower final tax rates on several goods being offset by some higher tax rates on services and some goods, implementation is likely to be a hiccup and may cause temporary supply chain interruptions. The Reserve Bank is unlikely to let its guard down on its inflationary impact until it sees some meaningful progress in implementation. RBI’s key focus on delivering retail inflation close to the 4% target would remain uncompromised. Oil prices remained supported as OPEC approved an extension in production cut.

Our core view remains that we are nearing the end of the rate cycle and expect RBI to be on hold in the upcoming policy. Any positive surprise on inflation may lead RBI to cut rates, however this would be a one-off event rather than a structural change in stance. Incase core inflation undershoots RBI’s expectation on a sustained basis, then there can be a change in RBI stance. Today, surplus liquidity stands at ̀ 3.5 lakh crore. We expect liquidity to remain in surplus to neutral zone for the next one year. Hence, we believe that the levers have shifted to a play on accrual and liquidity.

The yield curve offers great steepness in the short segment up to 5 years maturity. Thus short bonds offer a yield pick up relative to money market, and at the same time are not as exposed to the volatility of the long end. Our preferred part of the curve is between 1 and 5 years.

Credit environment has improved with commodity price softening and lower import prices leading to improving corporate profitability on account of both better operating performance and a reduction in leverage.

Ratings data also confirms the improvement in credit quality in the last two years. However, heavily indebted / highly leveraged companies appear to be still in a downgrade cycle. The fact that many more companies are being upgraded suggests a widening in the investible corporate space.

Also, the market pricing of credits has improved. Compared to the previous cycle, yield spreads are wider. As investors, this presents an investment opportunity where the macro and rating developments are improving while yield spreads are relatively wide. Thus we have been increasing our allocation to below-AAA bonds. The ratings and micro level analysis still urges caution and we believe the investment process needs to be strong with well-developed risk management.

Quick Take - Fixed Income

• We are nearing the end of the rate cycle and expect RBI to be on hold in the upcoming policy. Any positive surprise on inflation may lead RBI to cut rates, however this would be a one-off event rather than a structural change in stance.

• Incase core inflation undershoots RBI’s expectation on a sustained basis, then there can be a change in RBI stance.

• We expect liquidity to remain in surplus to neutral zone for the next one year. Hence we believe that the levers have shifted to a play on accrual and liquidity.

• Investor should look to invest in short to medium term funds as a core portfolio allocation. Investors who wish to participate in long bonds can look to do so through dynamic bond funds.

10 yr G-Sec : Last 1 year

7.46%

6.66%

17.9%

Key highlights

HYBRIDOUTLOOK

JUNE 2017

21


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 32.55TOTAL FIXED DEPOSIT 3.90CORPORATE BOND 19.41Reliance Jio Infocomm Limited CRISIL AAA 3.69Cholamandalam Investment and Finance Company Limited ICRA AA 3.23HDFC Limited CRISIL AAA 3.22Power Finance Corporation Limited CRISIL AAA 2.49Rural Electrification Corporation Limited CRISIL AAA 1.45Power Grid Corporation of India Limited CRISIL AAA 1.12Adani Transmission Limited IND AA+ 0.73ICICI Bank Limited ICRA AA+ 0.73NABARD CRISIL AAA 0.72Cyquator Media Services Private Limited$ BWR A1+(SO) 0.72Ujjivan Small Finance Bank Ltd ICRA A+ 0.72Dalmia Cement (Bharat) Ltd ICRA AA 0.58GOVERNMENT BOND Sovereign 6.90ZERO COUPON BOND 2.34Amri Hospitals Ltd BWR A+(SO) 1.54Tata Motors Finance Ltd CRISIL AA 0.81TOTAL EQUITY 65.64TOTAL UNHEDGED EQUITY 41.59AUTO 2.50Maruti Suzuki India Limited 2.50AUTO ANCILLARIES 2.31Motherson Sumi Systems Limited 2.31BANKS 7.30HDFC Bank Limited 3.14ICICI Bank Limited 1.59Kotak Mahindra Bank Limited 2.57CEMENT 2.44Shree Cements Limited 2.44CHEMICALS 1.55Pidilite Industries Limited 1.55CONSTRUCTION PROJECT 2.10Larsen & Toubro Limited 1.10Voltas Limited 1.01CONSUMER DURABLES 2.18Symphony Limited 1.23TTK Prestige Limited 0.95CONSUMER NON DURABLES 1.09Britannia Industries Limited 1.09FINANCE 10.04Bajaj Finance Limited 2.13Cholamandalam Investment and Finance Company Limited 2.14HDFC Limited 3.07Multi Commodity Exchange of India Limited 0.94Sundaram Finance Limited 1.77GAS 1.49Petronet LNG Limited 1.49INDUSTRIAL CAPITAL GOODS 1.79Bharat Electronics Limited 0.67Siemens Limited 1.11INDUSTRIAL PRODUCTS 2.68Astral Poly Technik Limited 1.00Cummins India Limited 1.68MEDIA & ENTERTAINMENT 1.04S Chand And Company Limited 1.04PESTICIDES 1.06PI Industries Limited 1.06PETROLEUM PRODUCTS 0.54Reliance Industries Limited 0.54POWER 0.70Torrent Power Limited 0.70TELECOM - EQUIPMENT & ACCESSORIES 0.78Astra Microwave Products Limited 0.78TOTAL HEDGED EQUITY 24.05Tata Motors Limited 1.06Tata Chemicals Limited 0.54Maruti Suzuki India Limited 0.16DLF Limited 0.16Bharat Electronics Limited 0.56Bharat Financial Inclusion Limited 0.59Power Grid Corporation of India Limited 1.20Indiabulls Housing Finance Limited 0.07Glenmark Pharmaceuticals Limited 0.10Dewan Housing Finance Corporation Limited 2.94Century Textiles & Industries Limited 2.19BEML Limited 0.15Asian Paints Limited 0.76Reliance Capital Limited 1.84Oil & Natural Gas Corporation Limited 0.42Infosys Limited 0.70Sun Pharmaceutical Industries Limited 0.34IRB Infrastructure Developers Limited 0.11HDFC Limited 1.77Reliance Industries Limited 5.82ITC Limited 0.68Britannia Industries Limited 0.06IDFC Bank Limited 0.38IDFC Limited 0.18The Federal Bank Limited 0.71Zee Entertainment Enterprises Limited 0.58DEBT, CASH & OTHER RECEIVABLES 1.81

NET ASSET 100% # Secured by shares of Zee Entertainment Enterprises Ltd $ Secured by shares of Zee Entertainment Enterprises Ltd# Secured by shares of Emami Ltd

DATE OF ALLOTMENT

14th August 2015MONTHLY AVERAGE

710.09 Cr.

AS ON 31ST MAY’17

693.08 Cr.

BENCHMARK

Crisil MIP Blended Fund

Index

Mr. Anupam TiwariWork experience: 10 years.

He has been managing this fund since 06th Oct ‘16



FUND MANAGER

Unhedged Equity - 41.59%

Debt, Cash and Other Receivables - 34.36%

Hedged Equity - 24.05%

BWR A1+(SO) / CRISIL AAA & Equivalent - 15.22%

SOV - 6.90% ICRA AA/ CRISIL AA - 4.62% BWR A+(SO)/ ICRA A+ - 2.26% ICRA AA+/ IND AA+ - 1.46%


FUND STYLE

Low MidDuration

High

*Hedged Equity/ Cash-futures arbitrage

Ass

et C

lass

Equity

Debt

Equity Arbitrage

INVESTMENT OBJECTIVE: The investment objective of the scheme is to 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. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

AXIS EQUITY SAVER FUND(AN OPEN-ENDED EQUITY SCHEME)

FACTSHEETMAY 2017

If redeemed / switched-out within 12 months from the date of allotment,- For 10% of investments : NIL - For remaining investment : 1%If redeemed / switched - out after 12 months from the date of allotment : NIL

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Equity Saver Fund - Growth 9.44% - - 6.14% 11,13014-Aug-15CRISIL MIP Blended Index (Benchmark) 12.07% - - 9.81% 11,831

Nifty 50 (Additional Benchmark) 17.91% - - 7.01% 11,294Axis Equity Saver Fund - Direct Plan - Growth 10.81% - - 7.46% 11,380

14-Aug-15CRISIL MIP Blended Index (Benchmark) 12.07% - - 9.81% 11,831Nifty 50 (Additional Benchmark) 17.91% - - 7.01% 11,294Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 10 invested at inception. The performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 years.Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Anupam Tiwari is managing the scheme since 6th October 2016 and he manages 4 schemes & R. Sivakumar is managing the scheme since inception and he manages 5 schemes. Please refer to annexure on Page 29 & 30 for performance of all schemes managed by the fund managers.

DIVIDENDS


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

May 25, 2017 0.0625 0.0625 10.6425 10.5800 0.0625 0.0625 10.8425 10.7800

Monthly DividendApr 25, 2017 0.0625 0.0625 10.7025 10.6400 0.0625 0.0625 10.8925 10.8300Apr 06, 2017 0.0625 0.0625 10.6225 10.5600 0.0625 0.0625 10.8925 10.8300Apr 06, 2017 0.1875 0.1875 10.7675 10.5800 0.1875 0.1875 10.9575 10.7700

Quarterly Dividend Nov 02, 2016 0.0625 0.0625 10.3825 10.3200 0.0625 0.0625 10.5525 10.4900Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. @ Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. #Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

22

AVERAGE MATURITY@*


@*


7.78%PORTFOLIO TURNOVER# (1 YEAR)

5.74 times


PORTFOLIO

RATING % OF ASSETSTOTAL DEBT 65.31CORPORATE BOND 55.57Power Finance Corporation Limited CRISIL AAA 10.88NABARD CRISIL AAA 9.39Rural Electrification Corporation Limited CRISIL AAA 7.69Reliance Jio Infocomm Limited CRISIL AAA 5.46IDFC Bank Limited ICRA AAA 3.87Mahindra & Mahindra Financial Services Limited

IND AAA 3.86

National Highways Auth Of Ind CRISIL AAA 3.10Tata Sons Ltd CRISIL AAA 1.93Nuvoco Vistas Corporation Limited CRISIL AA 1.56L&T Finance Ltd CARE AA+ 1.56Cholamandalam Investment and Finance Company Limited

ICRA AA 1.56

National Bank For Agriculture and Rural Development

IND AAA 1.54

LIC Housing Finance Limited CRISIL AAA 1.24SRF Limited IND AA 1.04HDFC Limited CRISIL AAA 0.87Blue Dart Express Limited ICRA AA 0.02

ZERO COUPON BOND 9.73

SVL Ltd.## ICRA AA(SO) 4.86Dev Infracity Pvt Ltd*** FITCH AA-(SO) 2.61India Infoline Finance Ltd ICRA AA 2.04Dewan Housing Finance Corporation Limited

CARE AAA 0.19

Shriram Transport Finance Company Limited IND AA+ 0.04TOTAL EQUITY 27.54

BANKS 5.10

HDFC Bank Limited 2.39

Kotak Mahindra Bank Limited 1.60ICICI Bank Limited 1.11FINANCE 3.05HDFC Limited 1.69Bajaj Finance Limited 0.69Multi Commodity Exchange of India Limited 0.67AUTO ANCILLARIES 2.81Motherson Sumi Systems Limited 1.05Endurance Technologies Limited 0.94Amara Raja Batteries Limited 0.81CEMENT 2.06Shree Cements Limited 0.89JK Lakshmi Cement Limited 0.59Ambuja Cements Limited 0.58TRANSPORTATION 1.56Blue Dart Express Limited 0.87Container Corporation of India Limited 0.68CONSUMER NON DURABLES 1.52Asian Paints Limited 0.78Nestle India Limited 0.74PESTICIDES 1.51UPL Limited 0.84PI Industries Limited 0.67AUTO 1.49Maruti Suzuki India Limited 0.95Eicher Motors Limited 0.54TEXTILE PRODUCTS 0.82Page Industries Limited 0.82RETAILING 0.81Avenue Supermarts Limited 0.81CHEMICALS 0.71Pidilite Industries Limited 0.71MEDIA & ENTERTAINMENT 0.67Zee Entertainment Enterprises Limited 0.67SOFTWARE 0.59Info Edge (India) Limited 0.59CONSTRUCTION PROJECT 0.58Larsen & Toubro Limited 0.58PHARMACEUTICALS 0.53Torrent Pharmaceuticals Limited 0.53INDUSTRIAL PRODUCTS 0.53Cummins India Limited 0.53Other Equity (less than 0.50% of the corpus) 3.20

NET CURRENT ASSETS 7.15NET ASSETS 100%^Certificate of Deposit/Commercial Paper/ ## Backed by corporate guarantee of Shriram Transport Finance Company Limited. /~ Secured by shares of Emami Ltd/ ***Secured by shares of Emami Ltd

DATE OF ALLOTMENT

16th July 2010MONTHLY AVERAGE

663.81 Cr.

AS ON 31ST MAY’17

650.61 Cr.

BENCHMARK

Crisil MIP Blended Fund Index

AVERAGE MATURITY@*


@*


7.36%

Mr. Jinesh GopaniWork experience: 14 years.

He has been managing this fund since 02nd September 2013

Mr. Ashish NaikWork experience: 10 years.

He has been managing this fund since 22nd June 2016

FUND MANAGER

Debt - 72.46%, Equity - 27.54%

CRISIL AAA/ CARE AAA/ ICRA AAA/ IND AAA & Equivalent - 57.18% ICRA AA/ CRISIL AA/ ICRA AA(SO)/ IND AA - 11.07% FITCH AA-(SO) - 2.61% CARE AA+/ IND AA+- 1.60%


Ass

et C

lass

Equity

Debt

EquityArbitrage

Low Mid HighDuration

FUND STYLE


He has been managing this fund since 07th June 2016


INVESTMENT OBJECTIVE: To generate regular income through investments in debt & money market instruments, along with capital appreciation through limited exposure to equity and equity related instruments. It also aims to manage risk through active asset allocation.

AXIS INCOME SAVER(AN OPEN-ENDED INCOME FUND)

FACTSHEETMAY 2017

If redeemed/switch out within 12 months from the date of allotment:- For 10% of investment : Nil - For remaining investment : 1%If redeemed/switch out after 12 months from the date of allotment: Nil (w.e.f. 15th June 2015)

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Income Saver - Growth 8.02% 9.55% 10.36% 8.44% 17,457

16-Jul-10Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% 10.29% 8.85% 17,918CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.26% 16,199

Axis Income Saver - Direct Plan - Growth 9.50% 11.17% - 10.86% 15,752

04-Jan-13Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 9.74% 15,063CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% - 7.93% 13,998Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Jinesh Gopani is managing the scheme since 2nd September 2013 and he manages 3 schemes, Devang Shah is managing the scheme since 7th June 2016 and he manages 46 schemes & Ashish Naik is managing the scheme since 22nd June 2016 and he manages 3 schemes. Please refer to annexure on Page 29 & 30 for performance of all schemes managed by the fund managers. Scheme Performance may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme.


Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Annual Dividend

Mar 27, 2017 0.7223 0.6692 12.5556 11.5556 0.5417 0.5019 12.7860 12.0360Mar 28, 2016 0.7222 0.6691 12.5739 11.5739 0.7222 0.6691 12.6583 11.6583Mar 25, 2015 0.3629 0.3365 12.6035 12.1035 0.3629 0.3365 12.5849 12.0849Mar 25, 2014 0.3117 0.2985 10.9526 10.5526 - - - -

Half Yearly Dividend Mar 27, 2017 0.3611 0.3346 11.6071 11.1071 0.3611 0.3346 12.0977 11.5977Sep 26, 2016 0.3611 0.3346 11.9394 11.4394 0.3611 0.3346 12.3576 11.8576Mar 28, 2016 0.3611 0.3345 11.6671 11.1671 0.3611 0.3345 11.9950 11.4950

Quarterly Dividend

Sep 28, 2015 0.3611 0.3345 12.0570 11.5570 0.3611 0.3345 12.3170 11.8170Mar 27, 2017 0.1806 0.1673 11.0673 10.8173 0.1806 0.1673 13.1368 12.8868Dec 26, 2016 0.1805 0.1672 10.8652 10.6152 0.1805 0.1672 12.8150 12.5650Sep 26, 2016 0.1806 0.1673 11.4144 11.1644 0.1806 0.1673 13.3820 13.1320

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. Dividends disclosed above are since the inception of the fund. Half Yearly Dividends disclosed above are for the last 2 Years. Quarterly Dividends disclosed above are for the last 3 quarters. @ Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

DIVIDENDS

23


PORTFOLIO

RATING % OF ASSETSTOTAL DEBT 26.91TOTAL FIXED DEPOSIT 1.32


Power Finance Corporation Limited CRISIL AAA 9.80HDFC Limited CRISIL AAA 2.67Cholamandalam Investment and Finance Company Limited ICRA AA 0.66

GOVERNMENT BOND Sovereign 12.46TOTAL EQUITY 65.73TOTAL UNHEDGED EQUITY 59.35AUTO 3.09Maruti Suzuki India Limited 3.09AUTO ANCILLARIES 4.63Endurance Technologies Limited 1.26Motherson Sumi Systems Limited 3.37BANKS 12.44City Union Bank Limited 1.35HDFC Bank Limited 4.91ICICI Bank Limited 2.73Kotak Mahindra Bank Limited 3.45CEMENT 1.30Ambuja Cements Limited 1.30CHEMICALS 2.37Pidilite Industries Limited 1.75Sudarshan Chemical Industries Limited 0.62CONSTRUCTION PROJECT 3.56Larsen & Toubro Limited 3.56CONSUMER NON DURABLES 1.89Asian Paints Limited 1.89FINANCE 9.57Bajaj Finance Limited 2.20Bajaj Finserv Limited 1.09Cholamandalam Investment and Finance Company Limited

0.83

HDFC Limited 3.62Sundaram Finance Limited 1.83GAS 1.06Indraprastha Gas Limited 1.06INDUSTRIAL CAPITAL GOODS 1.95Siemens Limited 0.90V-Guard Industries Limited 1.05INDUSTRIAL PRODUCTS 4.14Astral Poly Technik Limited 1.39Carborundum Universal Limited 0.99Cummins India Limited 1.76MEDIA & ENTERTAINMENT 1.80S Chand And Company Limited 0.10Zee Entertainment Enterprises Limited 1.70PESTICIDES 1.25UPL Limited 1.25Petroleum Products 1.30Gulf Oil Lubricants India Limited 1.30PHARMACEUTICALS 3.03Cadila Healthcare Limited 1.81Torrent Pharmaceuticals Limited 1.22POWER 0.82Torrent Power Limited 0.82RETAILING 1.70Avenue Supermarts Limited 1.70SOFTWARE 0.99Info Edge (India) Limited 0.99TEXTILE PRODUCTS 2.48Page Industries Limited 1.21SRF Limited 1.27TOTAL HEDGED EQUITY 6.38IDFC Limited 0.46HDFC Limited 1.14Bharat Financial Inclusion Limited 1.02Tata Motors Limited 0.18Reliance Capital Limited 0.44Century Textiles & Industries Limited 0.38Indiabulls Housing Finance Limited 0.76Hindalco Industries Limited 0.05Dewan Housing Finance Corporation Limited

1.32

DLF Limited 0.30Mahindra & Mahindra Limited 0.33DEBT, CASH & OTHER RECEIVABLES 7.36NET ASSETS 100%

DATE OF ALLOTMENT

08th December 2015

MONTHLY AVERAGE

298.74 Cr.

AS ON 31ST MAY’17

303.47 Cr.

BENCHMARK

50% Nifty 50 + 50% Crisil

Composite Bond Fund Index

AVERAGE MATURITY@*


@*


7.04%


He has been managing this fund since 6th July 2016


He has been managing this fund since 07th June 2016.

FUND MANAGER

Unhedged Equity - 59.35%, Debt, Cash and Other Receivables - 34.27%, Hedged Equity - 6.38%.

CRISIL AAA & Equivalent - 19.83% SOV - 12.46% ICRA AA - 0.66%

COMPOSITION BY ASSETS (%) COMPOSITION BY RATING (%)A

sset

Cla

ss

Equity

Debt

EquityArbitrage

Large MidDuration

High

*Hedged Equity/ Cash-futures arbitrage

FUND STYLE

AXIS CHILDREN’S GIFT FUND(AN OPEN-ENDED BALANCED SCHEME)

FACTSHEETMAY 2017

INVESTMENT OBJECTIVE: The investment objective of the scheme is to generate income by investing in debt & money market instruments along with long-term capital appreciation through investments in equity & equity related instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

EXIT LOAD

3% is payable if Units are redeemed / switched out upto 1 year from the date of allotment,2% is payable if Units are redeemed / switched - out after 1 year and upto 2 years from the date of allotment, 1% is payable if are redeemed / switched-out after 2 years and upto 3 years from the date of allotment, NIL if Units are redeemed / switched-out after 3 years from the date of allotment

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Childrens Gift Fund - Compulsory Lock-in - Regular Plan - Growth 9.26% - - 8.98% 11,357

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071

Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - Compulsory Lock-in - Direct Plan - Growth 11.05% - - 10.71% 11,625


Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - No Lock-in - Regular Plan - Growth 9.25% - - 8.97% 11,355


Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - No Lock-in - Direct Plan - Growth 11.39% - - 11.13% 11,690


Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on ` 10 invested at inception. Since inception returns for Axis Childrens Gift Fund - Compulsory Lock-in Regular Plan - Growth & Axis Childrens Gift Fund - No Lock-in - Regular Plan - Growth are calculated from 08th December 2015. The performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 years.Different plans have different expense structure. Ashish Naik manages 3 schemes & R. Sivakumar manages 5 schemes. Please refer to annexure on Page 29 for performance of all schemes managed by the fund managers.@ Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date.& The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

24


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 34.85CORPORATE BOND 23.64Reliance Gas Transportation Infrastructure Ltd

CRISIL AAA 7.72


CRISIL AAA 6.60

Tata Power Company Limited CRISIL AA- 3.93Hindalco Industries Limited CRISIL AA- 3.35Power Finance Corporation Limited CRISIL AAA 1.16India Infrastructure Fin Co Ltd CRISIL AAA 0.89GOVERNMENT BOND Sovereign 11.21TOTAL EQUITY 35.72BANKS 7.60HDFC Bank Limited 3.35Kotak Mahindra Bank Limited 2.25ICICI Bank Limited 2.00FINANCE 5.00HDFC Limited 2.46Gruh Finance Limited 1.03Bajaj Finance Limited 0.94Cholamandalam Investment and Finance Company Limited

0.56

AUTO ANCILLARIES 3.99Motherson Sumi Systems Limited 1.32WABCO India Limited 1.06Endurance Technologies Limited 0.82Amara Raja Batteries Limited 0.80CONSUMER NON DURABLES 2.44ITC Limited 1.41Asian Paints Limited 1.03AUTO 2.11Maruti Suzuki India Limited 1.38Eicher Motors Limited 0.73CONSTRUCTION PROJECT 2.08Larsen & Toubro Limited 2.08CEMENT 1.96Shree Cements Limited 1.17Ambuja Cements Limited 0.79TRANSPORTATION 1.65Container Corporation of India Limited

0.88

Blue Dart Express Limited 0.77SOFTWARE 1.12Info Edge (India) Limited 1.12CONSUMER DURABLES 1.05Blue Star Limited 1.05RETAILING 0.90Avenue Supermarts Limited 0.90PESTICIDES 0.89PI Industries Limited 0.89POWER 0.89Torrent Power Limited 0.89PHARMACEUTICALS 0.83Cadila Healthcare Limited 0.83INDUSTRIAL PRODUCTS 0.71Cummins India Limited 0.71INDUSTRIAL CAPITAL GOODS 0.59Siemens Limited 0.59GAS 0.58Petronet LNG Limited 0.58Other Equity (less than 0.50% of the corpus) 1.32

Exchange Traded Funds 25.03Axis Gold ETF 25.03NET CURRENT ASSETS 4.40NET ASSETS 100%

DATE OF ALLOTMENT

23rd August 2010MONTHLY AVERAGE

333.60 Cr.

AS ON 31ST MAY’17

330.80 Cr.

BENCHMARK35% of Nifty 50 + 35% of Crisil

Composite Bond Fund Index + 30% Of

INR Price of Gold

AVERAGE MATURITY@*


@*


7.71%

Mr. R. Sivakumar Work experience: 18 years.

He has been managing the fund since 14th September 2010


He has been managing this fund since 22nd June 2016

FUND MANAGER

Debt* - 39.25%, Equity - 35.72%, ETFs - 25.03%

CRISIL AAA & Equivalent -20.76% SOV - 11.21% CRISIL AA- - 7.28%


Ass

et C

lass

Equity

Debt

Gold

Low Mid HighDuration

FUND STYLE


INVESTMENT OBJECTIVE: To generate long term capital appreciation by investing in a diversified portfolio of equity and equity related instruments, fixed income instruments & gold exchange traded funds.

AXIS TRIPLE ADVANTAGE FUND(AN OPEN - ENDED HYBRID FUND)

FACTSHEETMAY 2017

If redeemed/switch out within 12 months from the date of allotment:- For 10% of investment : Nil - For remaining investment : 1%If redeemed/switch out after 12 months from the date of allotment: Nil (w.e.f. 15th June 2015)

EXIT LOAD


1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)




Inception date

Date ofInception

Axis Triple Advantage Fund - Growth 10.19% 8.63% 8.73% 8.28% 17,138

23-Aug-1035% of Nifty 50 + 35% of Crisil Composite Bond Fund Index + 30% Of INR Price of Gold (Benchmark)

10.35% 8.67% 8.22% 8.30% 17,168

Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.64% 16,469Axis Triple Advantage Fund - Direct Plan Growth 11.78% 9.79% - 8.20% 14,162

01-Jan-1335% of Nifty 50 + 35% of Crisil Composite Bond Fund Index + 30% Of INR Price of Gold (Benchmark)

10.35% 8.67% - 6.99% 13,477

Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% - 8.03% 14,065Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns is calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above.R. Sivakumar is managing the scheme since 14th September 2010 and he manages 5 schemes & Ashish Naik is managing the scheme since 22nd June 2016 and he manages 3 schemes. Please refer to annexure on Page 29 for performance of all schemes managed by the fund managers. Scheme Performance may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme.

DIVIDENDS

Regular Plan

Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

Others

DividendApr 17, 2014 0.4676 0.4478 11.3222 10.7222 Sep 17, 2012 0.7047 0.6040 11.2694 10.4694 Sep 21, 2011 0.7047 0.6040 10.9561 10.1561

Please note that after the payment of dividend, the NAV falls to the extent of dividend, distribution tax and cess wherever applicable.Past performance may or may not be sustained in future. Face Value of units is ` 10. @ Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio.

25

Axis Equity Fund - Growth Option

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

Total Amount Invested 8,80,000 6,00,000 3,60,000 1,20,000Market value as on May 31, 2017 14,47,490 8,58,126 4,20,722 1,33,406Returns (Annualised) 13.30% 14.30% 10.40% 21.46%Benchmark Returns (Annualised) 10.83% 12.30% 10.34% 21.82%Additional Benchmark Returns (Annualised) 10.20% 11.46% 9.29% 21.59%

SIP PERFORMANCE OF SELECT SCHEMES (as on 31st May 2017)

The Fund offers flexible and convenient Systematic Investment Plan (SIP) facility. To illustrate the advantages of SIP investments, this is how your investments 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.

^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: Nifty 50. Additional Benchmak: S&P BSE Sensex. Inception Date: Jan 05, 2010. This scheme is managed by Shreyash Devalkar. Please refer to the Annexure for returns of all the schemes managed by them.

Axis Long Term Equity Fund - Growth Option



^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: S&P BSE 200. Additional Benchmak: Nifty 50. Inception Date: Dec 29, 2009. This scheme is managed by Jinesh Gopani. Please refer to the Annexure for returns of all the schemes managed by him.

Axis Midcap Fund - Growth Option



^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: S&P BSE Midcap. Additional Benchmak: Nifty 50. Inception Date: Feb 18, 2011. This scheme is managed by Shreyash Devalkar. Please refer to the Annexure for returns of all the schemes managed by him.

Axis Focused 25 Fund - Growth Option


Total Amount Invested 5,90,000 NA 3,60,000 1,20,000Market value as on May 31, 2017 9,15,367 NA 4,61,294 1,37,443Returns (Annualised) 17.94% NA 16.80% 28.16%Benchmark Returns (Annualised) 12.20% NA 10.34% 21.82%Additional Benchmark Returns (Annualised) 14.24% NA 12.24% 22.87%

^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: Nifty 50. Additional Benchmak: S&P BSE 200. Inception Date: Jun 29, 2012. This scheme is managed by Jinesh Gopani. Please refer to the Annexure for returns of all the schemes managed by him.

Axis Equity Saver Fund - Growth Option

SIP Investments Since Inception SIP 1 Year SIP

Total Amount Invested 2,10,000 1,20,000Market value as on May 31, 2017 2,27,359 1,26,273Returns (Annualised) 8.98% 9.88%Benchmark Returns (Annualised) 11.00% 10.12%Additional Benchmark Returns (Annualised) 17.98% 21.82%

^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: CRISIL MIP Blended Index. Additional Benchmak: Nifty 50. Inception Date: August 14, 2015. This scheme is managed by Anupam Tiwari & R. Sivakumar. Please refer to the Annexure for returns of all the schemes managed by them.

Axis Triple Advantage Fund - Growth Option



^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: 35% Nifty 50+ 35% CRISIL Composite Bond Fund Index + 30% INR Price of Gold. Additional Benchmak: Crisil 10 Year Gilt Index. Inception Date: Aug 23, 2010. This scheme is managed by R. Sivakumar & Ashish Naik. Please refer to the Annexure for returns of all the schemes managed by them.

Axis Income Saver - Growth Option



^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: CRISIL MIP Blended Index. Additional Benchmak: CRISIL 10 year Gilt Index Inception Date: Jul 16, 2010. This scheme is managed by Devang Shah, Jinesh Gopani & Ashish Naik. Please refer to the Annexure for returns of all the schemes managed by them.SIP returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return)

26

NAV (as on 31st May 2017)

Fund Name


Growth Daily Dividend

Weekly Dividend

Monthly Dividend

Quartely Dividend

Half Yearly

Dividend

Annual Dividend

Bonus Growth Daily Dividend

Weekly Dividend

Monthly Dividend

Bonus Growth Daily Dividend

Weekly Dividend

Monthly Dividend

Quartely Dividend

Half Yearly

Dividend

Annual Dividend

Bonus

Axis Equity Fund 22.26 14.86 - - - - - - - - - 23.33 15.63 - - - - - -

Axis Focused 25 Fund

22.57 17.53 - - - - - - - - - 23.81 23.52 - - - - - -

Axis Long Term Equity Fund

36.12 21.13 - - - - - - - - - 38.05 32.41 - - - - - -

Axis Midcap Fund 28.38 22.11 - - - - - - - - - 29.92 25.72 - - - - - -

Axis Equity Saver Fund

11.13 10.81 - 10.60 10.74 - - - - - - 11.38 10.58 - 10.80 10.96 - - -

Axis Triple Advantage Fund

17.1379 13.9778 - - - - - - - - - 17.9686 15.4720 - - - - - -

Axis Income Saver 17.4568 - - - 11.0406 11.3364 11.7942 - - - - - - 18.5427 - - - 13.1780 11.8597 12.3079 -

Axis Constant Matu-rity 10 Year Fund

14.8300 10.0599 - - - 11.6217 - - - - - - - 15.1706 10.0809 - - - - - -

Axis Dynamic Bond Fund

17.0890 - - - 10.6673 10.8715 - - - - - - - 18.0041 - - - 11.3163 11.4694 - -

Axis Regular Savings Fund

15.9772 - - - 10.6768 11.0529 - - - - - - - 16.6191 - - - 11.2108 11.2648 - -

Axis Fixed Income Opportunities Fund

12.9778 - 10.1709 10.1373 - - - - - - - - - 13.3807 - 10.2518 10.0678 - - - -

Axis Short Term Fund 17.9673 12.0198 10.2498 10.2009 - - - 18.0702 17.7646 - 10.1581 10.0495 - 18.6163 11.3409 10.2500 10.0521 - - - -

Axis Banking & PSU Debt Fund

1513.0330 1008.0388 1007.7666 1008.7481 - - - - - - - - - 1525.0176 1008.0388 1007.7740 1008.7788 - - - 1525.4539

Axis Treasury Advantage Fund

1834.7688 1006.2334 1006.3539 1006.5032 - - - - 1724.1643 1005.4758 1004.9379 1006.4549 - 1867.5329 1007.2893 1004.9928 1006.6227 - - - -

Axis Liquid Fund 1817.6343 1000.8759 1002.4440 1001.6511 - - - - 1734.0579 1000.6413 1000.8462 1001.1907 - 1823.1583 1000.6413 1002.4486 1001.2940 - - - 1823.0481

Axis Enhanced Arbitrage Fund

12.0169 10.4597 - - - - - - - - - - - 12.3020 10.8105 - - - - - -

Axis Children’s Gift Fund No Lock-In

11.3553 11.3606 - - - - - - - - - - - 11.6904 11.6239 - - - - - -

Axis Children’s Gift Fund Compulsory Lock-In

11.3566 11.3613 - - - - - - - - - - - 11.6245 11.6239 - - - - - -

27

Fund Name Entry Load

Minimum Investment Amount (`)

Additional Purchase Amount (`)

Minimum SIP Amount (`)

Axis Equity Fund NA 5,000/1 100/1 1,000/1

Axis Focused 25 Fund NA 5,000/1 100/1 1,000/1

Axis Long Term Equity Fund NA 500/500 500/500 500/500

Axis Midcap Fund NA 5,000/1 100/1 1,000/1

Axis Equity Saver Fund NA 5,000/1 100/1 1,000/1

Axis Triple Advantage Fund NA 5,000/1 100/1 1,000/1

Axis Income Saver NA 5,000/1 100/1 1,000/1

Axis Constant Maturity 10 Year Fund

NA 5,000/1 100/1 1,000/1

Axis Dynamic Bond Fund NA 5,000/1 100/1 1,000/1

Axis Regular Savings Fund NA 5,000/1 100/1 1,000/1

Axis Fixed Income Opportunities Fund

NA 5,000/1 100/1 1,000/1

Axis Short Term Fund NA 5,000/1 1,000/1 1,000/1

Axis Banking & PSU Debt Fund NA 5,000/1 1,000/1 1,000/1

Axis Treasury Advantage Fund NA 5,000/1 1,000/1 1,000/1

Axis Liquid Fund NA Growth Option: `500 and in

multiples of ` 1/- thereafterAll other

Options:`1,000 and in multiples of `1/- thereafter

Growth Option: ` 500 and in

multiples of ` 1/- thereafterAll other Options: ` 1,000 and in

multiples of ` 1/- thereafter

-

Axis Enhanced Arbitrage Fund NA 5,000/1 100/1 1,000/1

Axis Children’s Gift Fund NA 5,000/1 100/1 1,000/1

LOAD STRUCTURE & MINIMUM INVESTMENT AMOUNT DETAILS

Please refer to the website for current load structure

28

1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)

Since InceptionCAGR (%)

Current Value of Investment if ` 10,000 was invested on inception

dateDate of inception

FUNDS MANAGED BY SHREYASH DEVALKAR (TOTAL SCHEMES MANAGED : 3 SCHEMES)Axis Equity Fund - Growth 14.80% 11.50% 17.70% 11.41% 22,260

05-Jan-10Nifty 50 (Benchmark) 17.91% 9.97% 14.33% 8.45% 18,229S&P BSE Sensex (Additional Benchmark) 16.79% 8.73% 13.93% 7.94% 17,610Axis Equity Fund - Direct Plan - Growth@@ 15.95% 12.72% - 15.87% 19,154

01-Jan-13Nifty 50 (Benchmark) 17.91% 9.97% - 11.50% 16,168S&P BSE Sensex (Additional Benchmark) 16.79% 8.73% - 11.09% 15,906Axis Midcap Fund - Growth 16.31% 15.74% 23.21% 18.05% 28,380

18-Feb-11S&P BSE Midcap (Benchmark) 28.68% 19.94% 19.86% 13.33% 21,954Nifty 50 (Additional Benchmark) 17.91% 9.97% 14.33% 9.44% 17,625Axis Midcap Fund - Direct Plan - Growth@@ 17.61% 17.18% - 19.38% 21,855

01-Jan-13S&P BSE Midcap (Benchmark) 28.68% 19.94% - 17.43% 20,320Nifty 50 (Additional Benchmark) 17.91% 9.97% - 11.50% 16,168

FUNDS MANAGED BY JINESH GOPANI (TOTAL SCHEMES MANAGED : 5 SCHEMES)Axis Long Term Equity Fund - Growth* 16.67% 19.33% 24.46% 18.88% 36,122

29-Dec-09S&P BSE 200 (Benchmark) 20.99% 12.15% 15.76% 9.15% 19,159Nifty 50 (Additional Benchmark) 17.91% 9.97% 14.33% 8.67% 18,545Axis Long Term Equity Fund - Direct Plan - Growth*@@ 17.98% 20.75% - 23.64% 25,509

01-Jan-13S&P BSE 200 (Benchmark) 20.99% 12.15% - 12.82% 17,028Nifty 50 (Additional Benchmark) 17.91% 9.97% - 11.50% 16,168Axis Income Saver - Growth # 8.02% 9.55% 10.36% 8.44% 17,457

16-Jul-10Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% 10.29% 8.85% 17,918CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.26% 16,199Axis Income Saver - Direct Plan - Growth #@@ 9.50% 11.17% - 10.86% 15,752

04-Jan-13Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 9.74% 15,063CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% - 7.93% 13,998Axis Focused 25 Fund - Growth@@ 25.88% 18.01% - 17.98% 22,570

29-Jun-12Nifty 50 (Benchmark) 17.91% 9.97% - 12.97% 18,226S&P BSE 200 (Additional Benchmark) 20.99% 12.15% - 14.51% 19,482Axis Focused 25 Fund - Direct Plan - Growth@@ 27.39% 19.53% - 17.56% 20,420

01-Jan-13Nifty 50 (Benchmark) 17.91% 9.97% - 11.50% 16,168S&P BSE 200 (Additional Benchmark) 20.99% 12.15% - 12.82% 17,028

FUNDS MANAGED BY R.SIVAKUMAR (TOTAL SCHEMES MANAGED : 5 SCHEMES)Axis Equity Saver Fund - Growth@ 9.44% - - 6.14% 11,130

14-Aug-15CRISIL MIP Blended Index (Benchmark) 12.07% - - 9.81% 11,831Nifty 50 (Additional Benchmark) 17.91% - - 7.01% 11,294Axis Equity Saver Fund - Direct Plan - Growth@ 10.81% - - 7.46% 11,380

14-Aug-15CRISIL MIP Blended Index (Benchmark) 12.07% - - 9.81% 11,831Nifty 50 (Additional Benchmark) 17.91% - - 7.01% 11,294Axis Triple Advantage Fund - Growth 10.19% 8.63% 8.73% 8.28% 17,138


10.35% 8.67% 8.22% 8.30%17,168

Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.64% 16,469Axis Triple Advantage Fund - Direct Plan Growth@@ 11.78% 9.79% 0.00% 8.20% 14,162


10.35% 8.67% 0.00% 6.99%13,477

Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 0.00% 8.03% 14,065Axis Dynamic Bond Fund - Growth 10.56% 10.09% 9.22% 9.18% 17,089

27-Apr-11Crisil Composite Bond Fund Index (Benchmark) 10.95% 10.67% 9.42% 9.19% 17,096Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.84% 15,847Axis Dynamic Bond Fund - Direct Plan - Growth@@ 11.55% 11.36% - 10.36% 15,449

01-Jan-13Crisil Composite Bond Fund Index (Benchmark) 10.95% 10.67% - 9.36% 14,844Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% - 8.03% 14,065Axis Capital Protection Oriented Fund - Series 5 #@@ 9.15% 6.67% - 8.44% 14,494

02-Nov-12Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 9.96% 15,446Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.34% 13,831Axis Childrens Gift Fund - Compulsory Lock-in - Regular Plan - Growth@ 9.26% - - 8.98%

11,357


Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - Compulsory Lock-in - Direct Plan - Growth@ 11.05% - - 10.71% 11,625

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - No Lock-in - Regular Plan - Growth@ 9.25% - - 8.97% 11,355

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - No Lock-in - Direct Plan - Growth@ 11.39% - - 11.13% 11,690

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492

FUNDS MANAGED BY ASHISH NAIK (TOTAL SCHEMES MANAGED : 3 SCHEMES)Axis Triple Advantage Fund - Growth 10.19% 8.63% 8.73% 8.28% 17,138


10.35% 8.67% 8.22% 8.30% 17,168

Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.64% 16,469Axis Triple Advantage Fund - Direct Plan Growth@@ 11.78% 9.79% 0.00% 8.20% 14,162


10.35% 8.67% 0.00% 6.99% 13,477

Crisil 10 Year Gilt Index (Additional Benchmark) 11.08% 10.69% 0.00% 8.03% 14,065Axis Income Saver - Growth # 8.02% 9.55% 10.36% 8.44% 17,457

16-Jul-10Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% 10.29% 8.85% 17,918CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% 8.32% 7.26% 16,199Axis Income Saver - Direct Plan - Growth #@@ 9.50% 11.17% - 10.86% 15,752

04-Jan-13Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 9.74% 15,063CRISIL 10 year Gilt Index (Additional Benchmark) 11.08% 10.69% - 7.93% 13,998Axis Childrens Gift Fund - Compulsory Lock-in - Regular Plan - Growth@ 9.26% - - 8.98% 11,357

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - Compulsory Lock-in - Direct Plan - Growth@ 11.05% - - 10.71% 11,625

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - No Lock-in - Regular Plan - Growth@ 9.25% - - 8.97% 11,355

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492Axis Childrens Gift Fund - No Lock-in - Direct Plan - Growth@ 11.39% - - 11.13% 11,690

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) 14.58% - - 13.56% 12,071Nifty 50 (Additional Benchmark) 17.91% - - 16.23% 12,492

FUNDS MANAGED BY ADITYA PAGARIA (TOTAL SCHEMES MANAGED : 4 SCHEMES)Axis Liquid Fund - Growth 7.02% 8.00% 8.49% 8.13% 18,176

09-Oct-09Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.73% 17,668Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.63% 7.38% 6.56% 16,253Axis Liquid Fund - Direct Plan - Growth@@ 7.11% 8.08% - 8.47% 14,322

31-Dec-12Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% - 8.32% 14,231Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.63% - 7.31% 13,658Axis Liquid Fund - Retail Plan - Growth 6.46% 7.44% 7.96% 7.88% 17,341

01-Mar-10Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.99% 17,470Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.63% 7.38% 6.78% 16,091Axis Treasury Advantage Fund - Growth 7.53% 8.15% 8.63% 8.26% 18,348

09-Oct-09Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.73% 17,668Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% 7.38% 6.56% 16,253Axis Treasury Advantage Fund - Direct Plan - Growth@@ 8.01% 8.62% - 8.98% 14,616

01-Jan-13Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% - 8.32% 14,229Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.31% 13,652

ANNEXURE FOR RETURNS OF ALL THE SCHEMES (as on 31st May 2017)

Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Above data excludes schemes which have not completed a year. W.e.f January 1st, 2013, Axis Short Term Fund – Institutional Plan, Axis Treasury Advantage Fund – Institutional Plan & Axis Liquid Fund – Institutional Plan have been renamed Axis Short Term Fund, Axis Treasury Advantage Fund & Axis Liquid Fund respectively. The above data excludes performance of direct plans of schemes which have not completed a year.

29

1 YearCAGR (%)

3 YearsCAGR (%)

5 YearsCAGR (%)

Since InceptionCAGR (%)

Current Value of Investment if ` 10,000 was invested on inception

dateDate of inception

Axis Treasury Advantage Fund - Retail Plan - Growth 6.90% 7.49% 7.86% 7.80% 17,24203-Mar-10Crisil Liquid Fund Index (Benchmark) 6.96% 7.89% 8.28% 7.99% 17,460

Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% 7.38% 6.78% 16,089Axis Banking & PSU Debt Fund - Growth@@ 7.81% 8.36% - 8.67% 15,130

08-Jun-12Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.06% 15,404Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.35% 14,238Axis Banking & PSU Debt Fund - Direct Plan - Growth@@ 8.00% 8.55% - 8.76% 14,485

01-Jan-13Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.04% 14,653Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.31% 13,652

FUNDS MANAGED BY ANUPAM TIWARI (TOTAL SCHEMES MANAGED : 4 SCHEMES) Axis Equity Saver Fund - Growth@ 9.44% - - 6.14% 11,130

14-Aug-15CRISIL MIP Blended Index (Benchmark) 12.07% - - 9.81% 11,831Nifty 50 (Additional Benchmark) 17.91% - - 7.01% 11,294Axis Equity Saver Fund - Direct Plan - Growth @ 10.81% - - 7.46% 11,380

14-Aug-15CRISIL MIP Blended Index (Benchmark) 12.07% - - 9.81% 11,831Nifty 50 (Additional Benchmark) 17.91% - - 7.01% 11,294Axis Small Cap Fund - Growth@@ 21.75% 21.81% - 29.08% 24,460

29-Nov-13Nifty Free Float Smallcap 100 (Benchmark) 37.67% 14.24% - 26.14% 22,560Nifty 50 (Additional Benchmark) 17.91% 9.97% - 13.49% 15,578Axis Small Cap Fund - Direct Plan - Growth@@ 23.09% 23.12% - 30.52% 25,430

29-Nov-13Nifty Free Float Smallcap 100 (Benchmark) 37.67% 14.24% - 26.14% 22,560Nifty 50 (Additional Benchmark) 17.91% 9.97% - 13.49% 15,578

FUNDS MANAGED BY RAHUL VEKARIA (TOTAL SCHEMES MANAGED : 1 SCHEMES) Axis Banking & PSU Debt Fund - Growth@@ 7.81% 8.36% - 8.67% 15,130

08-Jun-12Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.06% 15,404Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.35% 14,238Axis Banking & PSU Debt Fund - Direct Plan - Growth@@ 8.00% 8.55% - 8.76% 14,485

01-Jan-13Crisil Short Term Bond Fund Index (Benchmark) 8.82% 9.07% - 9.04% 14,653Crisil 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.31% 13,652

TOP 3 FUNDS MANAGED BY ASHWIN PATNI (TOTAL SCHEMES MANAGED : 22 SCHEMES) Axis Hybrid Fund - Series 8 - Growth #@@ 12.96% 6.71% - 8.11% 12,986

24-Jan-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 11.49% 14,399CRISIL 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.70% 12,823Axis Hybrid Fund - Series 8 - Direct Plan - Growth #@@ 14.19% 7.75% - 9.16% 13,414

24-Jan-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 11.49% 14,399CRISIL 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.70% 12,823Axis Hybrid Fund - Series 9 - Growth #@@ 12.95% 6.77% - 8.28% 12,996

13-Feb-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 12.03% 14,542CRISIL 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.79% 12,804Axis Hybrid Fund - Series 9 - Direct Plan - Growth #@@ 14.18% 7.81% - 9.32% 13,414

13-Feb-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 12.03% 14,542CRISIL 1 Year T-Bill Index (Additional Benchmark) 6.68% 7.62% - 7.79% 12,804Axis Hybrid Fund - Series 14 - Growth #@ 12.82% - - 5.59% 11,610

02-Sep-14CRISIL MIP Blended Index (Benchmark) 12.07% - - 10.36% 13,107CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% - - 7.61% 12,230Axis Hybrid Fund - Series 14 - Direct Plan - Growth #@ 14.12% - - 6.97% 12,030

02-Sep-14CRISIL MIP Blended Index (Benchmark) 12.07% - - 10.36% 13,107CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% - - 7.61% 12,230

BOTTOM 3 FUNDS MANAGED BY ASHWIN PATNI (TOTAL SCHEMES MANAGED : 22 SCHEMES) Axis Hybrid Fund - Series 7 - Growth #@@ 2.23% 3.53% - 7.00% 12,877

05-Sep-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 11.57% 15,053CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.80% 13,241Axis Hybrid Fund - Series 7 - Direct Plan - Growth #@ - - - - -

05-Sep-13CRISIL MIP Blended Index (Benchmark) - - - - -CRISIL 1 Year T-Bill (Additional Benchmark) - - - - -Axis Hybrid Fund - Series 6 - Growth #@@ 1.45% 3.38% - 6.88% 12,870

16-Aug-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 12.12% 15,429CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.91% 13,345Axis Hybrid Fund - Series 6 - Direct Plan - Growth #@@ 2.43% 4.37% - 7.91% 13,348

16-Aug-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 12.12% 15,429CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.91% 13,345Axis Hybrid Fund - Series 5 - Growth #@@ 0.91% 3.58% - 5.98% 12,507

25-Jul-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 11.04% 14,971CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.84% 13,372Axis Hybrid Fund - Series 5 - Direct Plan - Growth #@@ 1.87% 4.57% - 6.99% 12,974

25-Jul-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 11.04% 14,971CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.84% 13,372

TOP 3 FUNDS MANAGED BY DEVANG SHAH (TOTAL SCHEMES MANAGED : 46 SCHEMES)Axis Hybrid Fund - Series 8 - Growth #@@ 12.96% 6.71% - 8.11% 12,986

24-Jan-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 11.49% 14,399Crisil 1 yr Tbill Index (Additional Benchmark) 6.68% 7.62% - 7.70% 12,823Axis Hybrid Fund - Series 8 - Direct Plan - Growth #@@ 14.19% 7.75% - 9.16% 13,414

24-Jan-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 11.49% 14,399Crisil 1 yr Tbill Index (Additional Benchmark) 6.68% 7.62% - 7.70% 12,823Axis Hybrid Fund - Series 9 - Growth #@@ 12.95% 6.77% - 8.28% 12,996

13-Feb-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 12.03% 14,542Crisil 1 yr Tbill Index (Additional Benchmark) 6.68% 7.62% - 7.79% 12,804Axis Hybrid Fund - Series 9 - Direct Plan - Growth #@@ 14.18% 7.81% - 9.32% 13,414

13-Feb-14Crisil MIP Blended Fund Index (Benchmark) 12.07% 10.70% - 12.03% 14,542Crisil 1 yr Tbill Index (Additional Benchmark) 6.68% 7.62% - 7.79% 12,804Axis Hybrid Fund - Series 14 - Growth #@@ 12.82% - - 5.59% 11,610

02-Sep-14Crisil MIP Blended Fund Index (Benchmark) 12.07% - - 10.36% 13,107Crisil 1 yr Tbill Index (Additional Benchmark) 6.68% - - 7.61% 12,230Axis Hybrid Fund - Series 14 - Direct Plan - Growth #@@ 14.12% - - 6.97% 12,030

02-Sep-14Crisil MIP Blended Fund Index (Benchmark) 12.07% - - 10.36% 13,107Crisil 1 yr Tbill Index (Additional Benchmark) 6.68% - - 7.61% 12,230

BOTTOM 3 FUNDS MANAGED BY DEVANG SHAH (TOTAL SCHEMES MANAGED : 46 SCHEMES)Axis Hybrid Fund - Series 5- Growth #@@ 0.91% 3.58% - 5.98% 12,507

25-Jul-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 11.04% 14,971CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.84% 13,372Axis Hybrid Fund - Series 5 - Direct Plan - Growth # 1.87% 4.57% - 6.99% 12,974

25-Jul-13CRISIL MIP Blended Index (Benchmark) 12.07% 10.70% - 11.04% 14,971CRISIL 1 Year T-Bill (Additional Benchmark) 6.68% 7.62% - 7.84% 13,372Axis Gold Fund - Growth -2.51% -1.58% -3.38% -1.35% 9,267

20-Oct-11Domestic Price of Gold 0.28% 3.28% -1.60% 0.13% 10,073Additional Benchmark Not ApplicableAxis Gold Fund - Direct Plan@@ -1.67% -0.32% - -3.43% 8,571

01-Jan-13Domestic Price of Gold 0.28% 3.28% - -2.48% 8,949Additional Benchmark Not ApplicableAxis Gold ETF -3.50% 1.17% -1.97% 4.00% 12,935

10-Nov-10Domestic Price of Gold 0.28% 3.28% -1.60% 4.21% 13,107Additional Benchmark Not Applicable

ANNEXURE FOR RETURNS OF ALL THE SCHEMES (as on 31st May 2017)

Past performance may or may not be sustained in future. Calculations are based on Growth Option NAV. Since inception returns are calculated on Rs.1,000/- invested at inception for Axis Liquid Fund, Axis Treasury Advantage Fund and Axis Banking & PSU Debt Fund, on Rs. 2,026.8434/- invested at inception for Axis Gold Exchange Traded Fund and on Rs. 10/- invested at inception for all other schemes. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above.

The above data excludes performance of Fixed Maturity Plans and all the schemes which have not completed a year. Jinesh Gopani is managing Axis Long Term Equity Fund since 1st April 2011, Axis Income Saver since 2nd Sep 2013 and Axis Focused 25 Fund since 7th June 2016 and Axis Emerging Opportunites Series 1 and Series 2 since inception.

Shreyash Devalkar is managing Axis Equity Fund and Axis Midcap Fund since 23rd November 2016 and Axis Equity Advantage Fund - Series 1 since 25th May, 2017.

Anupam Tiwari is managing Axis Equity Saver Fund and Axis Smallcap Fund since 6th October, 2016, Axis Emerging Opportunities Fund - Series 1 since 29th Dec 2016, Axis Emerging Opportunities Fund - Series 2 since 17th Feb 2017.

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Weighted Average Expense Ratio for the MonthScheme - Regular Plan / Direct Plan : Axis Hybrid Fund - Series 5: 2.45% / 1.60%, Axis Hybrid Fund - Series 6: 2.45% / 1.60%, Axis Hybrid Fund - Series 7: 2.45 % / -, Axis Hybrid Fund - Series 8: 2.26% / 1.31%, Axis Hybrid Fund - Series 9: 2.27% / 1.32%, Axis Hybrid Fund - Series 11: 2.31% / 1.36%, Axis Hybrid Fund - Series 12: 2.28% / 1.33%, Axis Hybrid Fund - Series 13 : 2.17% / 1.22%, Axis Hybrid Fund - Series 14 : 2.18% / 1.18%, Axis Hybrid Fund - Series 15 : 2.27% / 1.27%, Axis Hybrid Fund - Series 18 : 2.18% / 1.13%, Axis Hybrid Fund - Series 19 : 2.27% / 1.22%, Axis Hybrid Fund - Series 22 : 2.05% / 0.86%, Axis Hybrid Fund - Series 23 : 2.07% /0.88%, Axis Hybrid Fund - Series 24 : 2.02% / 0.83%, Axis Hybrid Fund - Series 25 : 2.14% / 0.95%, Axis Hybrid Fund - Series 26 : 2.12% / 0.93%, Axis Hybrid Fund - Series 27 : 2.08% /0.89%, Axis Hybrid Fund - Series 28 : 2.10% / 0.91%, Axis Hybrid Fund - Series 29 : 2.25% / 1.06%, Axis Hybrid Fund - Series 30 : 2.19% / 1.00%, Axis Hybrid Fund - Series 31 : 2.10% / 0.80%, Axis Hybrid Fund - Series 32 : 2.07% / 1.07%, Axis Hybrid Fund - Series 33 : 2.07% / 0.77%, Axis Hybrid Fund - Series 35 : 2.13% / 0.83%, Axis Liquid Fund : 0.20% / 0.13%, Axis Treasury Advantage Fund : 0.87% / 0.24%, Axis Banking & PSU Debt Fund : 0.35% / 0.20%, Axis Short Term Fund : 0.85% / 0.25%, Axis Dynamic Bond Fund : 1.30% / 0.55%, Axis Constant Maturity 10 Year Fund : 0.65% / 0.20%, Axis Regular Savings Fund : 1.00% / 0.49%, Axis Gold ETF : 1.00% / -, Axis Gold Fund* :1.00% / 0.15%, Axis Fixed Income Opportunities Fund* : 1.30% / 0.30%, Axis Enhanced Arbitrage Fund : 0.95% / 0.25%, Axis Income Saver* : 2.13% / 1.27%, Axis Long Term Equity Fund*: 1.97% / 1.27%, Axis Focused 25 Fund* : 2.17% / 1.45%, Axis Equity Fund* : 2.11% / 1.01%, Axis Triple Advantage Fund* : 1.75% / 0.92%, Axis Midcap Fund* : 2.20% / 1.39%, Axis Equity Saver Fund* : 2.37% / 1.58%, Axis Small Cap Fund : 2.51% / 1.56%, Axis Children’s Gift Fund* : 2.53% / 1.11%, Axis Capital Protection Oriented Fund -Series 5: 2.45% / -, Axis Emerging Opportunities Fund - Series 1: 2.24% / 0.94%, Axis Emerging Opportunities Fund - Series 2: 2.02% / 0.72%, Axis Fixed Maturity Plan - Series 49 : 0.23% / 0.05%, Axis Fixed Maturity Plan - Series 52 : 0.23% / 0.05%, Axis Fixed Maturity Plan - Series 64 : 0.49% / 0.05%, Axis Fixed Maturity Plan - Series 67 : 0.66% / 0.02%, Axis Fixed Maturity Plan - Series 69 : 0.58% / 0.05%, Axis Fixed Maturity Plan - Series 74 : 0.23% / 0.10%

Service Tax on Management fees to the above mentioned schemes will be charged over and above Total Expense Ratio *In addition to the rates mentioned a proportionate charge in respect sales beyond T-15 cities subject to maximum of 30 bps on daily net assets has been charged in these schemes.

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Ashwin Patni is managing Axis Enhanced Arbitrage Fund, Axis Capital Protection Fund – Series 5 and all Axis Hybrid Funds since 27th April, 2015 (since inception date for Axis Hybrid Funds launched after 27th April, 2015) and Axis Equity Advantage Fund - Series 1 since 25th May, 2017.

Devang Shah is managing Axis Liquid Fund, Axis Dynamic Bond Fund, Axis Constant Maturity 10 Year Fund, Axis Income Fund and Axis Short Term Fund and all Axis Hybrid Funds since 5th November 2012 (since inception date for Axis Hybrid Funds launched after 5th November, 2012), Axis Fixed Income Opportunities Fund and Axis Enhanced Arbitrage Fund since inception and Axis Treasury Advantage Fund and Aditya Pagaria is managing Axis Liquid Fund, Axis Treasury Advantage Fund and Axis Banking Debt Fund since 13th August, 2016 and Axis Equity Advantage Fund - Series 1 since 25th May, 2017.

Ashish Naik is managing the equity portion of Axis Income Saver and Axis Triple Advantage Fund since 22nd June 2016 and Axis Children’s Gift Fund since July 6th, 2016. Aditya Pagaria is managing Axis Liquid Fund, Axis Treasury Advantage Fund and Axis Banking Debt Fund since 13th August, 2016.

R. Siva Kumar is managing Axis Dynamic Bond Fund, Axis Equity Saver Fund (debt potion) and Axis Capital Protection Fund – Series 5 since inception, Axis Triple Advantage Fund since 14th September 2010 and Axis Children’s Gift Fund (debt portion) since 7th June 2016.

Rahul Vekaria is managing Axis Banking & PSU Debt Fund since 10th May, 2017

@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.W.e.f January 1, 2013, Axis Short Term Fund - Institutional Plan, Axis Treasury Advantage Fund - Institutional Plan & Axis Liquid Fund - Institutional Plan have been renamed Axis Short Term Fund, Axis Treasury Advantage Fund & Axis Liquid Fund, respectively.* An open ended equity linked savings scheme with a 3 year lock-in.# Scheme Performance may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme.$ Rating Details (Axis Short Term Fund & Axis Banking & PSU Debt Fund) Schemes with this rating are considered to have the highest degree of safety regarding timely receipt of payments from the investments that they have made. This rating should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns. The rating should not be treated as a recommendation to buy, sell or hold units issued by the Mutual Fund.^ Rating Details (Axis Treasury Advantage Fund and Axis Liquid Fund)Schemes with this rating are considered to have very strong degree of safety regarding timely receipt of payments from the investments that they have made. This rating should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns. The rating should not be treated as a recommendation to buy, sell or hold units issued by the Mutual Fund.

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). Risk Factors: Axis Bank Ltd. is not liable or responsible for any loss or shortfall resulting from the operation of the scheme. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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AXIS EQUITY FUND This product is suitable for investors who are seeking*l Capital appreciation over long terml Investmentinadiversifiedportfoliopredominantlyconsistingofequityandequityrelatedinstruments

AXIS FOCUSED 25 FUND This product is suitable for investors who are seeking*l Capital appreciation over long terml Investmentinaconcentratedportfolioofequity&equityrelatedinstrumentsofupto25companies

AXIS LONG TERM EQUITY FUND This product is suitable for investors who are seeking*l Capitalappreciation&generatingincomeoverlongterml Investmentinadiversifiedportfoliopredominantlyconsistingofequityandequityrelatedinstruments

AXIS MIDCAP FUND This product is suitable for investors who are seeking*l Capital appreciation over long terml Investmentpredominantlyinequityandequityrelatedinstrumentsofmidsizecompanieswithfocusonrelatively largercompanieswithinthiscategory

AXIS TRIPLE ADVANTAGE FUND This product is suitable for investors who are seeking*l Capitalappreciation&generatingincomeoverlongterml Investmentinadiversifiedportfolioofequityandequityrelatedinstruments,fixedincomeinstruments&goldexchangetradedfunds

AXIS INCOME SAVER This product is suitable for investors who are seeking*l Capitalappreciationwhilegeneratingincomeovermediumtolongterml Investmentindebtandmoneymarketinstrumentsaswellasequityandequityrelatedinstrumentswhilemanagingriskthroughactiveassetallocation

AXIS GOLD ETF This product is suitable for investors who are seeking*l CapitalAppreciationovermediumtolongterml Investspredominantlyingoldinordertogeneratereturnssimilartotheperformanceofgold,subjecttotrackingerror

AXIS GOLD FUND This product is suitable for investors who are seeking*l CapitalAppreciationovermediumtolongterml InvestspredominantlyinAxisGoldETFinordertogeneratereturnssimilartotheunderlyingfund,subjecttotracking error

AXIS EQUITY SAVER FUND This product is suitable for investors who are seeking*l CapitalAppreciationwhilegeneratingincomeovermediumtolongterml Providecapiltalappreciationandincomedistributiontotheinvestorsbyusingequityandequityrelatedinstruments, arbitrageopportunitiesandinvestmentsindebtandmoneymarketinstruments

AXIS CHILDREN’S GIFT FUND This product is suitable for investors who are seeking*l Capitalappreciation&generatingincomeovermediumtolongterml Investmentindebtandmoneymarketinstrumentsaswellasequityandequityrelatedinstruments

AXIS CONSTANT MATURITY 10 YEAR FUND This product is suitable for investors who are seeking*l Creditriskfreereturnsovermediumtolongterml InvestmentmainlyinGovernmentsecuritiestogeneratereturnssimilartothatof10yeargovernmentbonds

AXIS DYNAMIC BOND FUND This product is suitable for investors who are seeking*l Optimalreturnsovermediumtolongterml Togeneratestablereturnswhilemaintainingliquiditythroughactivemanagementofaportfolioofdebtandmoney marketinstruments

AXIS REGULAR SAVINGS FUND This product is suitable for investors who are seeking*l Optimalreturnsovermediumterml Investmentindiversifiedportfolioofhighqualitydebtandmoneymarketsecuritiestogenerateoptimalriskadjusted returnswhilemaintainingliquidity

AXIS ENHANCED ARBITRAGE FUND This product is suitable for investors who are seeking*l Incomeovershorttomediumterml Investmentinarbitrageopportunitiesinthecash&derivativessegmentoftheequitymarket

AXIS FIXED INCOME OPPORTUNITIES FUND This product is suitable for investors who are seeking*l Stablereturnsintheshorttomediumterml Investmentindebtandmoneymarketinstrumentsacrosstheyieldcurveandcreditspectrum

AXIS SHORT TERM FUND This product is suitable for investors who are seeking*l Regularincomewhilemaintainingliquidityovershorttomediumterml Investmentindebtandmoneymarketinstruments

AXIS BANKING & PSU DEBT FUND This product is suitable for investors who are seeking* l Regularincomeovershorttomediumterml Investmentindebtandmoneymarketinstrumentsissuedbybanks,PFIs&PSUs

AXIS TREASURY ADVANTAGE FUND This product is suitable for investors who are seeking*l Regularincomeovershortterml Investmentindebtandmoneymarketinstruments

AXIS LIQUID FUND This product is suitable for investors who are seeking*l Regularincomeovershortterml Investmentindebtandmoneymarketinstruments

PRODUCT LABELLING

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

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Statutory Details & Disclaimers :AxisMutualFundhasbeenestablishedasaTrustundertheIndianTrustsAct,1882,sponsoredbyAxisBankLtd.(liabilityrestrictedto`1Lakh).Trustee: AxisMutualFundTrusteeLimited.Investment Manager: AxisAssetManagementCompanyLimited(theAMC).Risk Factors:AxisBankLimitedisnotliableorresponsibleforanylossorshortfallresultingfromtheoperationofanyofthemutualfundschemeslaunchedbytheAMC.Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

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