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GIVE YOURSELFTHE APPRAISALYOU DESERVE

WITH A

*Investment up to `1.5 lakhs in ELSS is eligible for deduction from taxable income under Sec 80C of the Income Tax Act, 1961. This implies that investor who is in highesttax slab will save taxes of `46,350 on investment made in ELSS. For FY 16-17 for Indian residents below the age of 60 years. Tax savings may vary depending on theapplicable tax slab. Investors are advised to consult his / her own Tax Consultant with respect to the specific amount of tax and other implications arising out of his / herparticipation in ELSS.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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Current Value

Monthly SIP on every last day of the month done in S&P BSE. Sensex Data as on 30th December, 2016.Source: Bloomberg.

E.g. monthly SIP `10,000

5 YEARS

`7,08,618

`6,00,000

10 YEARS

`17,57,362

`12,00,000

15 YEARS

`48,75,795

`18,00,000

20 YEARS

`91,33,985

`24,00,000Amount Invested

Past performance may or may not be sustained in future.

MONTHLY FACTSHEET - FEBRUARY, 2017

H AV E H A P P I E R PAY D AY S A N D B U I L D L O N G - T E R M W E A LT H

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

4

Equity Outlook 5Axis Equity Fund 6Axis Focused 25 Fund 7Axis Midcap Fund 8Axis Long Term Equity Fund 9Axis Enhanced Arbitrage Fund 10

Fixed Income Outlook 11Axis Liquid Fund 12

Axis Dynamic Bond Fund 15Axis Income Fund 16Axis Fixed Income Opportunities Fund 17

Axis Banking And PSU Debt Fund 19

Hybrid Outlook 20Axis Equity Saver Fund 21Axis Income Saver Fund 22Axis Children Gift Fund 23Axis Triple Advantage Fund 24

26

27

28

30

31

Axis Treasury Advantage Fund 13Axis Short Term Fund 14

Axis Constant Maturity 10 Year Fund 18

25SIP Performance Of Selected Schemes

E IM A R C H 2 0 1 7

QUICK TAKE

KEY IG LIG TS

10.5% 26.3% 3.7%

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 continued to rally during the month of February. The Nifty 50 Index was up 3.7 percent for the month while the BSE Midcap Index was up 5.4 percent. The key positive triggers during the month were the Union Budget and a better than expected earnings season.

The month started with the Finance Minister presenting the Budget for 2017-18. The government’s thought process in the budget was largely consistent with its long standing agenda emphasizing fiscal discipline while pushing for infrastructure and rationalizing spending priorities. This bodes well for the equity market in the medium to long term.

Contrary to broad market expectations of a rate cut during its February review, RBI surprised by keeping the repo rate unchanged at 6.25% and changing its stance from accommodative to neutral. RBI suggested some upside risk to inflation led by sticky core inflation around 5% and a belief that the fall in CPI in the past few months was temporary in nature led by fall in food prices. Although this impacted fixed income yields negatively, equity markets were relatively flat post the policy.

The economy continued its bounce back from demonetization challenges although the impact was different in different sectors. Manufacturing sentiment during the month picked up marginally as indicated by the PMI reading for February at 50.7. Marking the sixth consecutive month of softening, headline consumer price index (CPI) fell to 3.17% in January and reached its lowest reading in the new series. In line with the recent trend, the fall was driven mainly by deflation in the prices of vegetables and pulses.

Personal vehicle sales rose during January while two-wheeler and tractor sales were down on a Y-o-Y basis suggesting that urban consumption categories appear to have done better vs rural consumption in the post demonetization phase.

Foreign Portfolio Investors turned positive both in debt and equity markets in India in February after being negative for four months. This reversal after a couple of months of negative flows was led mainly by the clarification on tax norms for FPIs in the Budget and no change in LTCG tax for equity. Net flows by domestic institutional investors were positive for the fifth month in a row, investing approx. 4,503 crores in January.

The earning season for the third quarter was better than expected driven by a better than anticipated recovery in earnings for financials and commodities. The upgrades/downgrades ratio has also shown some recovery post demonetization. Management commentary across sectors (viz staples, autos, durables) post-3Q results also suggests that normalization of activities is likely in the March quarter.

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.

GLOBAL

5

Please refer to page no 26, 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 26.06HDFC Bank Limited 8.61Kotak Mahindra Bank Limited 5.45State Bank of India 4.54ICICI Bank Limited 4.48IndusInd Bank Limited 2.98CONSUMER NON DURABLES 12.58Asian Paints Limited 5.16ITC Limited 4.04Britannia Industries Limited 3.37FINANCE 10.88Bajaj Finserv Limited 4.09Cholamandalam Investment and Finance Company Limited 3.01

HDFC Limited 2.65CRISIL Limited 1.13AUTO 7.08Maruti Suzuki India Limited 4.02Tata Motors Limited 3.05SOFTWARE 5.69Infosys Limited 3.70Tech Mahindra Limited 1.99GAS 5.49Indraprastha Gas Limited 2.13GAIL (India) Limited 1.71Gujarat State Petronet Limited 1.66AUTO ANCILLARIES 4.45Motherson Sumi Systems Limited 2.56Endurance Technologies Limited 1.89MEDIA & ENTERTAINMENT 4.19Zee Entertainment Enterprises Limited 4.19PHARMACEUTICALS 3.96Lupin Limited 2.02Sanofi India Limited 1.24Cadila Healthcare Limited 0.70OTHERS 14.14Industrial Capital Goods 3.08Bharat Electronics Limited 1.98Siemens Limited 1.10Cement 2.21UltraTech Cement Limited 2.21Industrial Products 2.17Bharat Forge Limited 1.16Cummins India Limited 1.01Petroleum Products 2.15Indian Oil Corporation Limited 1.14Gulf Oil Lubricants India Limited 1.02Construction Project 2.03Larsen & Toubro Limited 2.03Power 1.96Torrent Power Limited 1.96Telecom - Services 0.54Bharti Airtel Limited 0.54Total Equity 94.52Cash & Other Receivables 5.48Net Assets 100%

Banks 26.06

Consumer Non Durables

12.58

Finance 10.88 Auto 7.08 Software 5.69

Gas 5.49 Auto Ancillaries 4.45

Media & Entertainment

4.19

Pharmaceuticals 3.96 Others 14.14

DATE OF ALLOTMENT

5thJanuary 2010

MONTHLY AVERAGE

1,970.06 Cr.

AS ON 28TH FEB’17

1,914.04 Cr.

BENCHMARK

Nifty 50

STATISTICAL MEASURES(3 YEARS)

Standard Deviation - 14.66%

Beta - 1.00

Sharpe Ratio** - 0.56

PORTFOLIOTURNOVER* (1 YEAR)

1.15 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)

FACTSHEETFEBRUARY 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 30th December 2016)

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 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 15.89Mar 17, 2014 1.00 1.00 12.57 11.57 1.00 1.00 12.69 11.69

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 6.05% (MIBOR as on 28-2-17) - 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 28th February 2017.Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)

Current Value of Investment

if ` 10,000 was invested on

Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Equity Fund - Growth 40.85% -1.24% -3.62% 9.10% 18,38005-Jan-10Nifty 50 (Benchmark) 31.39% -4.06% 3.01% 6.48% 15,510

S&P BSE Sensex (Additional Benchmark) 29.89% -5.03% 1.95% 6.03% 15,055Axis Equity Fund - Direct Plan - Growth 42.67% -0.25% -2.64% 12.04% 15,755

01-Jan-13Nifty 50 (Benchmark) 31.39% -4.06% 3.01% 8.30% 13,756S&P BSE Sensex (Additional Benchmark) 29.89% -5.03% 1.95% 7.99% 13,598Past performance may or may not be sustained in future. Past 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 Equity Fund - Growth Option is calculated from 5th January 2010.Shreyash Devalkar manages 2 schemes. Please refer to annexure on Page 28 for performance of all schemes managed by the fund manager.

6


Finance 19.93 Banks 16.25 Auto Ancillaries 15.45

Industrial Prod-ucts

9.44

Cement 7.61

Software 7.09 Auto 5.70 Textile Products 4.09

Industrial Capital Goods

3.80

Others 7.28

DATE OF ALLOTMENT

29th June 2012MONTHLY AVERAGE

1,050.89 Cr.

AS ON 28TH FEB’17

1,075.37 Cr.

BENCHMARK

Nifty 50



Beta - 1.03



0.85 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

FINANCE 19.93

Bajaj Finserv Limited 7.44

Gruh Finance Limited 4.23

Cholamandalam Investment and Finance Company Limited

4.13

Bajaj Finance Limited 4.13

BANKS 16.25

Kotak Mahindra Bank Limited 6.92

HDFC Bank Limited 6.32

RBL Bank Limited 3.00

AUTO ANCILLARIES 15.45

Bosch Limited 5.60

Motherson Sumi Systems Limited 5.33

Endurance Technologies Limited 2.74

WABCO India Limited 1.78

INDUSTRIAL PRODUCTS 9.44

Cummins India Limited 4.38

Supreme Industries Limited 3.09

Bharat Forge Limited 1.96

CEMENT 7.61

Shree Cements Limited 7.61

SOFTWARE 7.09

Tech Mahindra Limited 3.47

Info Edge (India) Limited 2.23

Infosys Limited 1.38

AUTO 5.70

Maruti Suzuki India Limited 5.70

TEXTILE PRODUCTS 4.09

Page Industries Limited 4.09

INDUSTRIAL CAPITAL GOODS 3.80

Siemens Limited 2.11

V-Guard Industries Limited 1.70

OTHERS 7.28

Chemicals 2.73

Pidilite Industries Limited 2.73

Consumer Non Durables 2.50

Nestle India Limited 2.50

Commercial Services 2.06

Quess Corp Limited 2.06

Total Equity 96.63

Cash & Other Receivables 3.37

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)


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

DividendMar 10, 2016 1.00 1.00 14.56 13.56Feb 25, 2015 1.75 1.75 17.90 16.15

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 6.05% (MIBOR as on 28-2-17) - 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 28th February 2017.Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 30, 2015to

Dec 31, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Focused 25 Fund - Growth 38.75% 3.91% 4.56% 14.43% 18,36029-Jun-12Nifty 50 (Benchmark) 31.39% -4.06% 3.01% 10.22% 15,507

S&P BSE 200 (Additional Benchmark) 35.47% -1.48% 3.95% 11.63% 16,421Axis Focused 25 Fund - Direct Plan - Growth 40.37% 5.38% 5.82% 13.39% 16,527

01-Jan-13Nifty 50 (Benchmark) 31.39% -4.06% 3.01% 8.30% 13,756S&P BSE 200 (Additional Benchmark) 35.47% -1.48% 3.95% 9.46% 14,353Past 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. Since inception returns for Axis Focused 25 Fund - Growth Option is calculated from 29th June 2012.Jinesh Gopani manages 3 schemes. Please refer to annexure on Page 28 for performance of all schemes managed by the fund managers.

7


PORTFOLIO

Finance 24.45 Auto Ancillaries 14.47

Consumer Non Durables

8.65

Industrial Prod-ucts

6.62

Media & Enter-tainment

6.18

Banks 4.81 Textile Products 4.60 Pesticides 4.17 Auto 3.93 Others 18.86

DATE OF ALLOTMENT

18th February 2011

MONTHLY AVERAGE

1,182.62 Cr.

AS ON 28TH FEB’17

1,179.72 Cr.

BENCHMARK

S&P BSE Midcap



Beta - 1.04



0.87 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 ASSETS

FINANCE 24.45Gruh Finance Limited 7.74Bajaj Finserv Limited 4.83Cholamandalam Investment and Finance Company Limited

4.70

Sundaram Finance Limited 3.05Multi Commodity Exchange of India Limited 2.73CRISIL Limited 1.41AUTO ANCILLARIES 14.47Motherson Sumi Systems Limited 4.05Endurance Technologies Limited 2.98WABCO India Limited 2.25Amara Raja Batteries Limited 2.00Igarashi Motors India Limited 1.93Balkrishna Industries Limited 1.27CONSUMER NON DURABLES 8.65Berger Paints (I) Limited 3.11Procter & Gamble Hygiene and Health Care Limited

3.05

Britannia Industries Limited 2.49INDUSTRIAL PRODUCTS 6.62Supreme Industries Limited 2.56AIA Engineering Limited 2.15Cummins India Limited 1.90MEDIA & ENTERTAINMENT 6.18PVR Limited 4.16Zee Entertainment Enterprises Limited 2.01BANKS 4.81City Union Bank Limited 4.81TEXTILE PRODUCTS 4.60Page Industries Limited 4.60PESTICIDES 4.17UPL Limited 3.09PI Industries Limited 1.08AUTO 3.93V.S.T Tillers Tractors Limited 2.81Eicher Motors Limited 1.12OTHERS 18.86Pharmaceuticals 3.88Torrent Pharmaceuticals Limited 2.05Alkem Laboratories Limited 1.09Cadila Healthcare Limited 0.74Industrial Capital Goods 3.10V-Guard Industries Limited 3.10Power 2.88Torrent Power Limited 2.88Petroleum Products 2.66Gulf Oil Lubricants India Limited 2.66Software 2.43Tech Mahindra Limited 1.46Info Edge (India) Limited 0.97Consumer Durables 1.70Blue Star Limited 1.70Transportation 1.49Blue Dart Express Limited 1.49Cement 0.71JK Lakshmi Cement Limited 0.71Total Equity 96.72Debt, Cash & Other Receivables 3.28Net 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)


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

EXIT LOAD


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Midcap Fund - Growth 76.55% 0.85% -3.11% 16.31% 24,27018-Feb-11S&P BSE Midcap (Benchmark) 54.69% 7.43% 7.97% 10.60% 18,061

Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 7.15% 14,995Axis Midcap Fund - Direct Plan - Growth 79.55% 2.04% -1.92% 16.81% 18,612

01-Jan-13S&P BSE Midcap (Benchmark) 54.69% 7.43% 7.97% 13.72% 16,716Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 8.30% 13,756Past 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. Since inception returns for Axis Midcap Fund - Growth Option is calculated from 18th February 2011 Shreyash Devalkar manages 2 schemes. Please refer to annexure on Page 28 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 6.05% (MIBOR as on 28-2-17) - 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 28th February 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

8


PORTFOLIO

Finance 18.67 Banks 15.52 Auto Ancillaries 10.79 Auto 7.42 Software 6.74 Pharmaceuticals 5.15

Industrial Products

5.48

Consumer Durables

5.00

Chemicals 3.97 Others 16.29

DATE OF ALLOTMENT

29th December 2009

MONTHLY AVERAGE

11,373.20 Cr.

AS ON 28TH FEB’17

11,490.74 Cr.

BENCHMARK

S&P BSE 200


Standard Deviation

- 13.99%

Beta - 0.89



1.37 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 18.67HDFC Limited 6.24Bajaj Finance Limited 3.51Sundaram Finance Limited 2.64Gruh Finance Limited 2.48Cholamandalam Investment and Finance Company Limited

2.08

Multi Commodity Exchange of India Limited 1.72BANKS 15.52Kotak Mahindra Bank Limited 8.04HDFC Bank Limited 7.48AUTO ANCILLARIES 10.79Motherson Sumi Systems Limited 4.51Bosch Limited 3.37WABCO India Limited 1.79Endurance Technologies Limited 1.13AUTO 7.42Maruti Suzuki India Limited 6.09Eicher Motors Limited 1.34SOFTWARE 6.74Tech Mahindra Limited 3.89Info Edge (India) Limited 1.53Infosys Limited 1.32INDUSTRIAL PRODUCTS 5.48Cummins India Limited 3.08Astral Poly Technik Limited 1.58Bharat Forge Limited 0.82PHARMACEUTICALS 5.15Sun Pharmaceuticals Industries Limited 2.70Cadila Healthcare Limited 1.33IPCA Laboratories Limited 1.12CONSUMER DURABLES 5.00TTK Prestige Limited 2.69Symphony Limited 2.31CHEMICALS 3.97Pidilite Industries Limited 3.97OTHERS 16.29Construction Project 3.36Larsen & Toubro Limited 3.36Pesticides 3.07PI Industries Limited 3.07Consumer Non Durables 2.46Nestle India Limited 2.46Power 2.05Torrent Power Limited 2.05Transportation 1.74Blue Dart Express Limited 0.89Gujarat Pipavav Port Limited 0.85Industrial Capital Goods 1.56Siemens Limited 1.03V-Guard Industries Limited 0.54Commercial Services 0.87Quess Corp Limited 0.87Telecom - Equipment & Accessories 0.68Astra Microwave Products Limited 0.68Other Equity (less than 0.50% of the corpus) 1.35Total Equity 95.91Debt, Cash & Other Receivables 4.09Net Assets 100%

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)


NIL

EXIT LOAD


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 30, 2015to

Dec 31, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Long Term Equity Fund - Growth 66.18% 6.70% -0.69% 17.19% 30,40029-Dec-09S&P BSE 200 (Benchmark) 35.47% -1.48% 3.95% 7.08% 16,149

Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 6.72% 15,778Axis Long Term Equity Fund - Direct Plan - Growth 68.85% 7.87% 0.40% 20.92% 21,368

01-Jan-13S&P BSE 200 (Benchmark) 35.47% -1.48% 3.95% 9.46% 14,353Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 8.30% 13,756Past 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. Since inception returns for Axis Long Term Equity Fund - Growth Option is calculated from 29th December 2009Jinesh Gopani manages 3 schemes. Please refer to annexure on Page 28 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 6.05% (MIBOR as on 28-2-17) - 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 28th February 2017.Source: ACEMF*Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered.

9


PORTFOLIO

% OF ASSETS

TOTAL HEDGED EQUITY 65.01

Reliance Industries Limited 9.51

Divi's Laboratories Limited 7.48

Sun Pharmaceuticals Industries Limited 5.92

HDFC Limited 5.54

Aurobindo Pharma Limited 5.44

Century Textiles & Industries Limited 4.89

Eicher Motors Limited 3.68

Cipla Limited 2.94

Tata Consultancy Services Limited 2.79

Reliance Capital Limited 2.68

Bharat Financial Inclusion Limited 2.22

Tata Motors Limited 1.78

Siemens Limited 1.77

Bharat Electronics Limited 1.65

Mahindra & Mahindra Limited 1.59

Castrol India Limited 0.97

Britannia Industries Limited 0.97

Oracle Financial Services Software Limited 0.82

Power Grid Corporation of India Limited 0.76

Indiabulls Housing Finance Limited 0.55

UPL Limited 0.21

Indian Oil Corporation Limited 0.20

Indiabulls Real Estate Limited 0.18

The Federal Bank Limited 0.15

Yes Bank Limited 0.14

Tata Communications Limited 0.09

Tata Global Beverages Limited 0.03

Zee Entertainment Enterprises Limited 0.01

Colgate Palmolive (India) Limited 0.01

Asian Paints Limited 0.01

DEBT, CASH & OTHER RECEIVABLES 34.99

NET ASSET 100%

DATE OF ALLOTMENT

14th August 2014MONTHLY AVERAGE

525.43 Cr.

AS ON 28TH FEB’17

573.28 Cr.

BENCHMARK

Crisil Liquid Fund Index

AVERAGE MATURITY@*

121 daysMODIFIED DURATION

@*

115 daysPORTFOLIO YIELD (YIELD TO MATURITY&)

6.60%

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 ENCHANCED ARBITRAGE FUND FACTSHEETFEBRUARY 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


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Enhanced Arbitrage Fund - Growth - 7.30% 6.95% 7.23% 11,80714-Aug-14CRISIL Liquid Fund Index (Benchmark) - 8.23% 7.48% 8.02% 12,016

CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.94% 11,994Axis Enhanced Arbitrage - Direct Plan - Growth - 8.22% 7.84% 8.14% 12,047

14-Aug-14CRISIL Liquid Fund Index (Benchmark) - 8.23% 7.48% 8.02% 12,016CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.94% 11,994Past 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 Enhanced Arbitrage Fund - Growth Option is calculated from 14th August 2014. Devang Shah manages 46 schemes & Ashwin Patni manages 21 schemes. Please refer to annexure on Page 28-29 & 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

DividendJan 25, 2017 0.05 0.05 10.5357 10.4857 0.05 0.05 10.8672 10.8172Dec 26, 2016 0.05 0.05 10.5506 10.5006 0.05 0.05 10.8737 10.8237Nov 25, 2016 0.05 0.05 10.5377 10.4877 0.05 0.05 10.8530 10.8030

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. & 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 debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date.

10

FIXEDINCOME

M A R C H 2 0 1 7

Bond markets had a somewhat weak month with the benchmark 10 year yield rising by over 45 bps previous month. The large jump in yields came post the policy surprise on 8th of February. The negative reaction was exacerbated by the fact that RBI changed its stance from accommodative to neutral. Yields went up across the curve by 25 to 30 bps. RBI remained hawkish on inflation concerns coming from a sticky core inflation (around 5%) and that the fall in CPI in the past few months was due to distress sale of vegetables.

At the start of the month the Finance Minister presented the Budget for 2017-18. Largely in line with market expectations the government kept the borrowing programme in check which was a positive. The more structural changes in the Budget were to bring down the debt to GDP ratio to 60% over the next few years.

The budget was largely a non-event for the FI markets as the gross borrowing number at 5.8 lakh crore was in line with expectations. Bonds rallied marginally post the Finance Minister’s statement on adhering to the path of fiscal consolidation.

Liquidity continued to remain positive in February. Demonetisation has led to substantial improvement in banking system liquidity which should keep the system easy going forward and is already helping shorter term bonds. Banks have cut deposit rates in view of the surge in liquidity and are likely to maintain lower deposit and lending rates going forward. Further, the announcement of the buy-back of around 75000 crores of securities is likely in the short term debt maturing over the next 2-3 years and is therefore positive for the shorter end of the curve.

Marking the sixth consecutive month of softening, headline consumer price index (CPI) fell to 3.17% in January and reached its lowest reading in the new series. The fall was driven mainly by deflation in the prices of vegetables and pulses.

IIP data for December dragged due to demonetization impact. Personal vehicle sales rose during January while two-wheeler and tractor sales were down on a Y-o-Y basis suggesting that urban consumption categories appear to have done better vs rural consumption in the post demonetization phase. Manufacturing sentiment picked up marginally during the month as indicated by the PMI for February 50.7. Services PMI has improved somewhat from its Nov-Dec lows but is still in contraction territory.

We had previously argued that RBI is close to the end of the rate cut cycle. RBI’s neutral stance supports this view. In this context we believe that short bonds are likely to outperform long bonds going forward. Money market and short term bonds are also beneficiaries of the abundant banking system liquidity following demonetization and are relatively insulated from the risks of global rates and inflationary pressures.

The RBI’s focus on controlling inflation in the medium term provides some opportunities too. If inflation is indeed contained to 4% on a sustainable basis, yields can drop materially over the next couple of years. While rates may remain elevated in the near term, this may prove very attractive with a slightly longer term investment horizon.

10 YEAR G-SEC YIELD

6.87%

QUICK TAKE

CPI Inflation : Last 1 year3.2%

5.7%

Repo : Last 1 year10 yr G-Sec : Last 1 year6.87%

7.63%

• RBI policy stance turns from accomodativeto neutral. Hawkish on inflation concerns.

• The improvement in bank liquidity isstructural and is likely to benefit short andmedium term rates.

• Investor should look to invest in short tomedium term funds as a core portfolioallocation. Investors who wish toparticipate in long bonds can look to do sothrough dynamic bond funds.

11


PORTFOLIO

RATING % OF ASSETSTOTAL MONEY MARKET INSTRUMENTS^

93.11

BANKS 14.64IDFC Bank Limited ICRA A1+ 5.10The South Indian Bank Limited CARE A1+ 3.13IndusInd Bank Limited CRISIL A1+ 2.39UCO Bank CRISIL A1+ 1.94RBL Bank Limited ICRA A1+ 0.73Vijaya Bank CARE A1+ 0.61Small Industries Dev Bank of India CARE A1+ 0.49Corporation Bank CRISIL A1+ 0.12NABARD CRISIL A1+ 0.12OTHERS 56.50Reliance Jio Infocomm Limited CARE A1+ 4.38Edelweiss Commodities Services Ltd CRISIL A1+ 3.67Tata Capital Financial Services Ltd ICRA A1+ 3.56Indiabulls Housing Finance Limited CRISIL A1+ 3.45Tata Steel Limited IND A1+ 2.90National Housing Bank ICRA A1+ 2.16Bajaj Finance Limited CRISIL A1+ 2.08Dewan Housing Finance Corporation Limited

CRISIL A1+ 2.02

Piramal Finance Private Limited ICRA A1+ 1.79JSW Steel Limited CARE A1+ 1.72Network18 Media & Investments Limited ICRA A1+ 1.70Bharti Airtel Limited ICRA A1+ 1.57IIFL Wealth Finance Limited ICRA A1+ 1.47UPL Limited CRISIL A1+ 1.45Vedanta Limited CRISIL A1+ 1.40Aditya Birla Fashion and Retail Limited CRISIL A1+ 1.22Daimler Financial Services India Pvt Ltd IND A1+ 1.21NABARD CRISIL A1+ 1.10Tata Power Company Limited ICRA A1+ 1.10Kotak Mahindra Prime Ltd CRISIL A1+ 0.98CESC Limited CARE A1+ 0.97JM Financial Products Ltd ICRA A1+ 0.91Hero Fincorp Limited CRISIL A1+ 0.86Redington (India) Limited ICRA A1+ 0.74Hinduja Leyland Finance Ltd CARE A1+ 0.74Gruh Finance Limited CRISIL A1+ 0.74India Infoline Finance Ltd ICRA A1+ 0.73Shapoorji Pallonji and Company Private Ltd

ICRA A1+ 0.73

Muthoot Finance Limited CRISIL A1+ 0.73Reliance Capital Limited ICRA A1+ 0.70Godrej Industries Limited ICRA A1+ 0.63Adani Gas Ltd. CARE A1+ 0.61Mahindra & Mahindra Financial Services Limited

CRISIL A1+ 0.61

IFMR Capital Finance Pvt Ltd ICRA A1+ 0.61Chennai Petroleum Corporation Limited ICRA A1+ 0.49Turquoise Invest & Finance Pvt Ltd CRISIL A1+ 0.49TVS Credit Services Ltd ICRA A1+ 0.49Adani Transmission Limited IND A1+ 0.49HDFC Limited ICRA A1+ 0.49Tata Power Company Limited CRISIL A1+ 0.49Bajaj Finance Limited ICRA A1+ 0.49SRF Limited IND A1+ 0.25Tata Capital Housing Finance Ltd CRISIL A1+ 0.24IDFC Infrastructure Finance Limited ICRA A1+ 0.24TGS Investment & Trade Pvt Ltd ICRA A1+ 0.24Trapti Trading & Invest Pvt Ltd ICRA A1+ 0.24JM Financial Limited ICRA A1+ 0.24Aditya Birla Housing Finance Ltd. ICRA A1+ 0.20JM Financial Services Ltd ICRA A1+ 0.12HDB Financial Services Ltd CRISIL A1+ 0.02Aditya Birla Finance Ltd ICRA A1+ 0.02Adani Ports and Special Economic Zone Limited

ICRA A1+ 0.02

TREASURY BILL 21.9756 Days CMB bill Sovereign 9.8949 Days CMB Sovereign 5.4663 Days CMB Sovereign 2.6391 Days Tbill Sovereign 3.05364 Days Tbill Sovereign 0.93TOTAL DEBT 1.31CORPORATE BOND 1.17Tata Capital Financial Services Ltd CRISIL AA+ 0.72Indiabulls Housing Finance Limited CARE AAA 0.26LIC Housing Finance Limited CRISIL AAA 0.12Emami Limited CRISIL AA+ 0.07ZERO COUPON BOND 0.14Magma Fincorp Limited CARE AA- 0.14NET CURRENT ASSETS 5.57NET ASSETS 100%^Certificate of Deposit/Commercial Paper/Treasury Bill

DATE OF ALLOTMENT

9th October 2009MONTHLY AVERAGE

18,778.30 Cr.

AS ON 28TH FEB’17

20,304.57 Cr.

BENCHMARK


AVERAGE MATURITY@*


@*


6.49%


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* - 98.69%, Corporate Bond - 1.17%, Zero Coupon Bond - 0.14%.

ICRA A1+ / CRISIL A1+ / CARE A1+ / CRISIL AAA / CARE AAA / IND A1+ & Equivalent - 77.10%

SOV - 21.97% CRISIL AA+ - 0.79% CARE AA- - 0.14%

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] A1mfs^

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)


NIL

EXIT LOAD

PERFORMANCE (as on 31st December 2016)

Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 31, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Liquid Fund - Growth 9.10% 8.35% 7.64% 8.20% 17,688

09-Oct-09Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 7.79% 17,201Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 6.60% 15,878

Axis Liquid Fund - Direct Plan - Growth 9.16% 8.42% 7.73% 8.64% 13,932

31-Dec-12Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 8.49% 13,855Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 7.47% 13,344

Axis Liquid Fund - Retail Plan - Growth 8.55% 7.79% 7.08% 7.98% 16,911

01-Mar-10Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 8.07% 17,008Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 6.84% 15,720

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.Since inception returns for Axis Liquid Fund Plan - Growth Option & Retail Plan - Growth Option are calculated from 9th October 2009 & 1st March 2010 respectively. Retail Plan was introduced on 1st March 2010 and has been discontinued from 1st October 2012.Devang Shah manages 46 schemes & Aditya Pagaria manages 3 schemes. Please refer to annexure on Page 28-29 & 30 for performance of all schemes managed by the fund manager.

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

Feb 27, 2017 4.3256 4.0076 1,006.5786 1,000.5896 3.9701 - 1,005.7162 1,000.2195 4.3799 - 1,006.2833 1,000.2192Jan 25, 2017 3.9408 3.6511 1,006.0458 1,000.5896 3.6236 - 1,005.2361 1,000.2195 3.9889 - 1,005.7419 1,000.2192Dec 26, 2016 3.9033 3.6163 1,005.9939 1,000.5896 3.5681 - 1,005.1604 1,000.2195 3.9515 - 1,005.6902 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. @ 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.

12



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

Feb 27, 2017 4.3873 4.0647 1,011.5258 1,005.4514 3.9356 - 1,010.8975 1,005.4482 4.6400 4.2924 1,011.8772 1,005.4530Jan 25, 2017 4.9302 4.5677 1,012.2774 1,005.4514 4.5184 - 1,011.7039 1,005.4482 5.1364 4.7624 1,012.5645 1,005.4530Dec 26, 2016 1.6571 1.5353 1,007.7458 1,005.4514 1.2371 - 1,007.1613 1,005.4482 1.8680 1.7383 1,008.0392 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^

37.95

BANKS 17.58IndusInd Bank Limited CRISIL A1+ 7.64Corporation Bank CRISIL A1+ 2.56Small Industries Dev Bank of India CARE A1+ 1.71Punjab & Sind Bank ICRA A1+ 1.71Export Import Bank of India CRISIL A1+ 0.82IDFC Bank Limited ICRA A1+ 0.81NABARD CRISIL A1+ 0.80Andhra Bank CARE A1+ 0.68Dena Bank CRISIL A1+ 0.34IDBI Bank Limited CRISIL A1+ 0.17ICICI Bank Limited ICRA A1+ 0.17RBL Bank Limited ICRA A1+ 0.16OTHERS 20.36Adani Transmission Limited IND A1+ 4.38Shapoorji Pallonji and Company Private Ltd

ICRA A1+ 4.13

Family Credit Ltd CARE A1+ 3.35Adani Ports and Special Economic Zone Limited

ICRA A1+ 3.33


ICRA A1+ 2.52

Vodafone Mobile Services Ltd CRISIL A1+ 1.66Barclays Invest & Loans India Ltd ICRA A1+ 0.82Indian Railway Finance Corp Ltd CRISIL A1+ 0.17TOTAL DEBT 49.69CORPORATE BOND 44.51National Housing Bank CRISIL AAA 7.88Indiabulls Housing Finance Limited BWR AAA 3.78Export Import Bank of India CRISIL AAA 3.44Power Finance Corporation Limited CRISIL AAA 3.04Tata Capital Financial Services Ltd CRISIL AA+ 2.59Citicorp Finance India Ltd ICRA AAA 2.57Emami Limited CRISIL AA+ 2.54LIC Housing Finance Limited CRISIL AAA 1.74Reliance Jio Infocomm Limited CRISIL AAA 1.74Piramal Finance Private Limited ICRA AA 1.73Edelweiss Commodities Services Ltd CRISIL AA 1.71HDFC Limited CRISIL AAA 1.70Daimler Financial Services India Pvt Ltd

IND AAA 1.37

NABARD CRISIL AAA 1.20Small Industries Dev Bank of India CARE AAA 1.12HDB Financial Services Ltd CRISIL AAA 0.86L&T Infrastructure Finance Co Ltd CARE AA+ 0.86Indiabulls Housing Finance Limited CARE AAA 0.86Tata Power Company Limited ICRA AA 0.86Mahindra Rural Housing Finance IND AA+ 0.85Shriram Transport Finance Company Limited

CRISIL AA+ 0.65

Mahindra & Mahindra Financial Services Limited

IND AAA 0.52


ICRA AA 0.52

India Infoline Finance Ltd ICRA AA 0.34Rural Electrification Corporation Limited

CRISIL AAA 0.003

ZERO COUPON BOND 5.19Dewan Housing Finance Corporation Limited

CARE AAA 2.81

JM Financial Products Ltd ICRA AA 1.06Sundaram BNP Paribas Home Finance Ltd

ICRA AA+ 0.86

India Infoline Finance Ltd ICRA AA 0.46NET CURRENT ASSETS 12.36NET ASSETS 100%^Certificate of Deposit/Commercial Paper

DATE OF ALLOTMENT

9th October 2009MONTHLY AVERAGE

2,914.42 Cr.

AS ON 28TH FEB’17

2,921.72 Cr.

BENCHMARK


AVERAGE MATURITY*


*


6.96%


He has been managing this fund since07th June 2016.



FUND MANAGER

Total Money Market Instruments* - 50.31%, Corporate Bond - 44.51%, Zero Coupon Bond - 5.19%.

ICRA A1+ / CRISIL A1+ / CARE A1+ / CRISIL AAA / CARE AAA / ICRA AAA / IND A1+ / BWR AAA / IND AAA & Equivalent - 84.96%

CRISIL AA+ / CARE AA+ / ICRA AA+ / IND AA+ - 8.36% ICRA AA / CRISIL AA - 6.68%


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)


NIL

EXIT LOAD


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Treasury Advantage Fund - Growth 8.72% 8.53% 8.16% 8.33% 17,83709-Oct-09Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 7.79% 17,198

Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.60% 15,876Axis Treasury Advantage Fund - Direct Plan - Growth 9.28% 8.90% 8.59% 9.12% 14,174

01-Jan-13Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 8.49% 13,850Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.47% 13,336Axis Treasury Advantage Fund - Retail Plan - Growth 7.98% 7.84% 7.46% 7.88% 16,793

03-Mar-10Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 8.07% 16,995Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.84% 15,716

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. Since inception returns for Axis Treasury Advantage Fund – Growth & Retail Plan - Growth Option are calculated from 9th October 2009 & 3rd March 2010 respectively. Retail Plan was introduced on 3rd March 2010 and has been discontinued from 1st October 2012.Devang Shah manages 46 schemes & Aditya Pagaria manages 3 schemes. Please refer to annexure on 28-29 & 30 for performance of all schemes managed by the fund manager.

DIVIDENDS

13


PORTFOLIO

RATING % OF ASSETSTOTAL DEBT 83.64CORPORATE BOND 70.36Power Finance Corporation Limited CRISIL AAA 11.08Rural Electrification Corporation Limited CRISIL AAA 7.29HDFC Limited CRISIL AAA 7.27Reliance Jio Infocomm Limited CRISIL AAA 6.08LIC Housing Finance Limited CRISIL AAA 5.47NABARD CRISIL AAA 3.35Power Grid Corporation of India Limited CRISIL AAA 2.69Indiabulls Housing Finance Limited BWR AAA 2.19Vodafone Mobile Services Ltd@ IND AAA 2.19Export Import Bank of India CRISIL AAA 2.18Dewan Housing Finance Corporation Limited BWR AAA 1.93HDB Financial Services Ltd CRISIL AAA 1.82Shriram Transport Finance Company Limited CRISIL AA+ 1.56National Housing Bank CRISIL AAA 1.37Mahindra & Mahindra Financial Services Limited

IND AAA 1.30

Tata Sons Ltd CRISIL AAA 1.10Gruh Finance Limited ICRA AAA 1.09Nirma Ltd CRISIL AA 1.01State Bank of India CRISIL AAA 0.88Daimler Financial Services India Pvt Ltd IND AAA 0.86Tata Capital Financial Services Ltd ICRA AA+ 0.73Cholamandalam Investment and Finance Company Limited

ICRA AA 0.72

LIC Housing Finance Limited CARE AAA 0.72

Oriental Nagpur Betul Highway LimitedCRISIL

AAA(SO)0.65

L&T Infrastructure Finance Co Ltd CARE AA+ 0.58IDFC Bank Limited ICRA AAA 0.57Indiabulls Housing Finance Limited CARE AAA 0.45Larsen & Toubro Limited CRISIL AAA 0.45Dewan Housing Finance Corporation Limited CARE AAA 0.43ICICI Bank Limited ICRA AAA 0.42Tata Motors Limited CARE AA+ 0.38Small Industries Dev Bank of India CARE AAA 0.36Tata Power Company Limited ICRA AA 0.36Rural Electrification Corporation Limited CARE AAA 0.30UltraTech Cement Limited CRISIL AAA 0.27Bajaj Finance Limited CARE AAA 0.16National Highways Auth Of Ind CRISIL AAA 0.07Mahindra Vehicle Mfg Ltd ICRA AAA 0.01Indian Railway Finance Corp Ltd CRISIL AAA 0.01STATE GOVERNMENT BOND Sovereign 7.34GOVERNMENT BOND Sovereign 3.72ZERO COUPON BOND 2.23Dewan Housing Finance Corporation Limited CARE AAA 1.49Sundaram BNP Paribas Home Finance Ltd ICRA AA+ 0.36Indiabulls Housing Finance Limited CARE AAA 0.20Mahindra & Mahindra Financial Services Limited

IND AAA 0.16

Axis Finance Limited IND AAA 0.02HDB Financial Services Ltd CRISIL AAA 0.00TOTAL MONEY MARKET INSTRUMENTS^ 7.86BANKS 5.14IDFC Bank Limited ICRA A1+ 2.39NABARD CRISIL A1+ 1.35IndusInd Bank Limited CRISIL A1+ 0.68Andhra Bank CARE A1+ 0.27Dena Bank CRISIL A1+ 0.22Vijaya Bank CARE A1+ 0.17Punjab & Sind Bank ICRA A1+ 0.06OTHERS 2.73NABARD CRISIL A1+ 1.39Vodafone Mobile Services Ltd CRISIL A1+ 0.70National Housing Bank ICRA A1+ 0.36Family Credit Ltd CARE A1+ 0.28NET CURRENT ASSETS 8.49NET ASSETS 100%^Certificate of Deposit/Commercial Paper

@ Rated CRISIL AA by CRISIL, rating in process of withdrawal.

DATE OF ALLOTMENT

22nd January 2010

MONTHLY AVERAGE

6,812.15 Cr.

AS ON 28TH FEB’17

6,950.13 Cr.

BENCHMARK

Crisil Short Term Bond Fund Index

AVERAGE MATURITY*

2.3 yearsMODIFIED DURATION

*

1.9 yearsPORTFOLIO YIELD (YIELD TO MATURITY&)

7.26%



FUND MANAGER

Corporate Bond - 70.36%, Total Money Market Instruments* - 16.36%, State Government Bond - 7.34%, Government Bond - 3.72%, Zero Coupon Bond - 2.23%.

ICRA A1+ / CRISIL A1+ / CARE A1+ / CRISIL AAA / CARE AAA / ICRA AAA / IND AAA / BWR AAA / CRISIL AAA(SO) & Equivalent - 83.25%

SOV - 11.05% CRISIL AA+ / CARE AA+ / ICRA AA+ - 3.61%

ICRA AA / CRISIL AA - 2.09%


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)


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

EXIT LOAD


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Short Term Fund - Growth 10.04% 8.11% 9.64% 8.40% 17,51022-Jan-10Crisil Short Term Bond Fund Index Benchmark) 10.47% 8.66% 9.83% 8.41% 17,518

Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.77% 15,753Axis Short Term Fund - Direct Plan - Growth 11.03% 9.04% 10.40% 9.64% 14,445

01-Jan-13Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 9.30% 14,267Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.47% 13,336Axis Short Term Fund - Retail Plan - Growth 10.08% 8.10% 9.64% 8.36% 17,313

02-Mar-10Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 8.51% 17,482Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.84% 15,716Past 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 Short Term Fund - Growth Option & Retail Plan - Growth Option are calculated from 22nd January 2010 & 2nd March 2010 respectively. Retail Plan was introduced on 2nd March 2010. and has been discontinued from 1st October 2012.Devang Shah manages 46 schemes. Please refer to annexure on Page 28 & 29 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

Feb 27, 2017 0.0382 0.0354 10.2512 10.1982 0.0379 0.0351 10.0952 10.0427 0.0424 0.0393 10.1031 10.0443Jan 25, 2017 0.0473 0.0438 10.3082 10.2427 0.0492 0.0456 10.1550 10.0869 0.0536 0.0496 10.1626 10.0884Dec 26, 2016 0.0547 0.0507 10.2775 10.2016 0.0572 0.0530 10.1293 10.0501 0.0624 0.0578 10.1384 10.0519

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. * 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.

14



Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Half Yearly Dividend

Sep 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 11.1136Mar 25, 2015 0.3629 0.3365 11.2365 10.7365 0.3629 0.3365 11.4928 10.9928

Quarterly DividendDec 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 11.2587Jun 27, 2016 0.1805 0.1672 10.6589 10.4089 0.1805 0.1672 11.1621 10.9121

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 95.74

CORPORATE BOND 31.89

Power Finance Corporation Limited CRISIL AAA 7.21

Rural Electrification Corporation Limited

CRISIL AAA 5.85

Reliance Gas Transportation Infrastructure Ltd

CRISIL AAA 5.20

NTPC Limited CRISIL AAA 4.18


ICRA AA 2.96

Power Grid Corporation of India Limited

CRISIL AAA 1.49

Vedanta Limited CRISIL AA- 1.46

Dewan Housing Finance Corporation Limited

BWR AAA 1.46

Tata Power Company Limited CRISIL AA- 1.24

India Infrastructure Fin Co Ltd CRISIL AAA 0.84

GOVERNMENT BOND Sovereign 31.59

STATE GOVERNMENT BOND Sovereign 31.29

ZERO COUPON BOND 0.97

JM Financial Products Ltd ICRA AA 0.97

TOTAL MONEY MARKET INSTRUMENTS^ 1.41

OTHERS 1.41

IFMR Capital Finance Pvt Ltd ICRA A1+ 1.41

NET CURRENT ASSETS 2.85

NET ASSETS 100%

^Commercial Paper

DATE OF ALLOTMENT

27th April 2011MONTHLY AVERAGE

349.77 Cr.

AS ON 28TH FEB’17

345.65 Cr.

BENCHMARK

Crisil Composite Bond Fund Index

AVERAGE MATURITY*

8.9 yearsMODIFIED DURATION*


7.59%

Mr. R. SivakumarWork experience: 16 years.

He has been managing this fund since inception



FUND MANAGER

Corporate Bond - 31.89%, Government Bond - 31.59%, State Government Bond - 31.29%, Total Money Market Instruments* - 4.26%, Zero Coupon Bond - 0.97%.

SOV - 62.88% ICRA A1+ / CRISIL AAA / BWR AAA & Equivalent - 30.49% ICRA AA - 3.93% CRISIL AA- - 2.70%

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)


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 fromthe date of allotment: Nil(w.e.f. 22nd June 2015


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Dynamic Bond Fund - Growth 14.06% 6.75% 13.40% 9.60% 16,837

27-Apr-11Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.48% 16,730CRISIL 10 year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.27% 15,711

Axis Dynamic Bond Fund - Direct Plan -Growth 15.76% 8.14% 14.49% 10.98% 15,167

01-Jan-13Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.79% 14,526CRISIL 10 year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.67% 13,944

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. Since inception returns for Axis Dynamic Bond Fund - Growth Option is calculated from 27th April 2011.R. Sivakumar manages 5 schemes & Devang Shah manages 46 schemes. Please refer to annexure on Page 28 & 28-29 for performance of all schemes managed by the fund managers.

DIVIDENDS

15



Options Record Date


(Cum Dividend)

NAV per unit

(Ex Dividend)


(Cum Dividend)

NAV per unit

(Ex Dividend)

Individuals/ HUF

OthersIndividuals/

HUFOthers

Half Yearly Dividend Sep 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 10.9459Mar 25, 2015 0.3629 0.3365 11.3899 10.8899 - - - -

Quarterly DividendDec 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 11.1106Jun 27, 2016 0.1805 0.1672 10.6469 10.3969 0.1805 0.1672 11.0754 10.8254

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.

RATING % OF ASSETS

TOTAL DEBT 96.05



CRISIL AAA 8.40

Reliance Gas TransportationInfrastructure Ltd

CRISIL AAA 5.23

Oriental Nagpur Betul Highway Limited

CRISIL AAA(SO)

4.83

Reliance Jio Infocomm Limited CRISIL AAA 4.45


BWR AAA 4.41

Indiabulls Housing Finance Limited BWR AAA 4.40

Birla Corporation Limited ICRA AA 4.38

Muthoot Finance Limited CRISIL AA 4.36

NTPC Limited CRISIL AAA 4.22

Tata Power Company Limited CRISIL AA- 4.22

Hinduja Leyland Finance Ltd CARE A+ 3.50

Hindalco Industries Limited CRISIL AA- 3.22

Hansdeep Industries & Trading Co. Ltd.

CARE AA(SO)

3.12

PVR Limited CRISIL AA- 2.35

Power Grid Corporation of India Limited

CRISIL AAA 2.26

ECL Finance Ltd ICRA AA 2.24

Equitas Small Finance Bank Limited CARE A+ 2.23

India Infoline Finance Ltd ICRA AA 2.20

Ujjivan Small Finance Bank Ltd ICRA A+ 2.19

JK Lakshmi Cement Limited CARE AA 2.17

IndoStar Capital Finance Ltd CARE AA- 1.84

Adani Transmission Limited IND AA+ 1.76



Tata Motors Finance Ltd CRISIL AA 4.40

Adani Power Limited BWR AA-(SO) 3.53

Edelweiss Commodities Services Ltd CARE AA 2.31

Amri Hospitals Ltd BWR A+(SO) 2.28

GOVERNMENT BOND Sovereign 2.56



NET ASSETS 100%

DATE OF ALLOTMENT

28th March 2012MONTHLY AVERAGE

227.12 Cr.

AS ON 28TH FEB’17

228.53 Cr.

BENCHMARK

Crisil Composite Bond Fund Index

AVERAGE MATURITY*


*


8.56%


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

FUND MANAGER

Corporate Bond - 79.17%, Zero Coupon Bond - 12.52%, Total Money Market Instruments* - 3.95%, Government Bond - 2.56%, State Government Bond - 1.80%.

CRISIL AAA / BWR AAA / CRISIL AAA(SO) & Equivalent - 43.33% ICRA AA / CRISIL AA / CARE AA / CARE AA(SO) - 25.19% CRISIL AA- / BWR AA-(SO) / CARE AA- - 15.16% BWR A+(SO) / CARE A+ / ICRA A+ - 10.19% SOV - 4.36% IND AA+ - 1.76%

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.

AXIS INCOME FUND(AN OPEN-ENDED DEBT SCHEME)


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)


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Income Fund - Growth 15.01% 6.76% 11.62% 9.61% 15,476

28-Mar-12Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.78% 15,596Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 9.24% 15,233

Axis Income Fund - Direct Plan - Growth 16.26% 7.95% 12.55% 10.33% 14,78807-Jan-13Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.72% 14,464

Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.51% 13,841

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. Since inception returns for Axis Income Fund - Growth Option.Devang Shah manages 46 schemes. Please refer to annexure on Page 28-29 for performance of all schemes managed by the fund managers.

DIVIDENDS

16


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 95.75CORPORATE BOND 68.99Power Finance Corporation Limited CRISIL AAA 10.25Reliance Jio Infocomm Limited CRISIL AAA 5.16LIC Housing Finance Limited CRISIL AAA 4.37Rural Electrification Corporation Limited

CRISIL AAA 3.57

UPL Limited BWR AA+ 3.42Nirma Ltd CRISIL AA 3.30Nirchem Cement Limited CRISIL AA 3.03Muthoot Finance Limited CRISIL AA 2.99Cholamandalam Investment and Finance Company Limited

ICRA AA 2.92

ECL Finance Ltd ICRA AA 2.75Hinduja Leyland Finance Ltd CARE A+ 2.51Oriental Nagpur Betul Highway Limited

CRISIL AAA(SO)

2.40

Birla Corporation Limited ICRA AA 2.40Power Grid Corporation of India Limited

CRISIL AAA 2.17

JK Lakshmi Cement Limited CARE AA 2.08Dewan Housing Finance Corporation Limited

BWR AAA 1.81

Ujjivan Small Finance Bank Ltd ICRA A+ 1.80IndoStar Capital Finance Ltd CARE AA- 1.52Shriram Transport Finance Company Limited

CRISIL AA+ 1.40

Hansdeep Industries & Trading Co. Ltd.

CARE AA(SO)

1.40

India Infoline Finance Ltd ICRA AA 1.36Indiabulls Housing Finance Limited BWR AAA 1.33NABARD CRISIL AAA 1.10HDFC Limited CRISIL AAA 0.91Adani Transmission Limited IND AA+ 0.90Tata Motors Limited CARE AA+ 0.75ICICI Bank Limited ICRA AAA 0.59Tata Power Company Limited ICRA AA 0.55Tata Sons Ltd CRISIL AAA 0.18IDFC Bank Limited ICRA AAA 0.06ZERO COUPON BOND 12.98

Adani Power LimitedBWR AA-

(SO)2.54

Amri Hospitals Ltd BWR A+(SO) 2.18Tata Motors Finance Ltd CRISIL AA 1.81SVL Ltd. ICRA AA(SO) 1.63Dewan Housing Finance Corporation Limited

CARE AAA 1.58

JM Financial Products Ltd ICRA AA 1.00Edelweiss Commodities Services Ltd CARE AA 0.79Dev Infracity Pvt Ltd** IND AA-(SO) 0.64Cholamandalam Investment and Finance Company Limited

ICRA AA 0.44

India Infoline Finance Ltd ICRA AA 0.37STATE GOVERNMENT BOND Sovereign 9.68GOVERNMENT BOND Sovereign 4.10TOTAL MONEY MARKET INSTRUMENTS^ 1.70

BANKS 1.41NABARD CRISIL A1+ 1.41OTHERS 0.29IFMR Capital Finance Pvt Ltd ICRA A1+ 0.29NET CURRENT ASSETS 2.56NET ASSETS 100%^Certificate of Deposit/Commercial Paper** Secured by shares of Emami Ltd

DATE OF ALLOTMENT

15th July 2014MONTHLY AVERAGE

1,649.06 Cr.

AS ON 28TH FEB’17

1,669.34 Cr.

BENCHMARK


AVERAGE MATURITY*


*


8.04%



FUND MANAGER

Corporate Bond - 68.99%, Zero Coupon Bond - 12.98%, State Government Bond - 9.68%, Total Money Market Instruments* - 4.25%, Government Bond - 4.10%.

ICRA A1+ / CRISIL A1+ / CRISIL AAA / CARE AAA / BWR AAA / ICRA AAA / IND AAA / CRISIL AAA(SO) & Equivalent - 39.74%

ICRA AA / CRISIL AA / CARE AA / ICRA AA(SO) / CARE AA(SO) - 28.81% SOV - 13.78% BWR A+(SO) / / ICRA A+ / CARE A+ - 6.50% CRISIL AA+ / CARE AA+ / IND AA+ / BWR AA+ - 6.48% IND AA-(SO) / CARE AA- / BWR AA-(SO) - 4.70%


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 FACTSHEETFEBRUARY 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)


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Fixed Income Opportunities Fund - Growth - 8.70% 9.79% 9.90% 12,619

15-Jul-14CRISIL Short-Term Bond Fund Index (Benchmark) - 8.66% 9.83% 9.53% 12,513

CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.93% 12,068Axis Fixed Income Opportunities Fund - Direct Plan - Growth - 9.77% 11.16% 11.03% 12,941

15-Jul-14CRISIL Short-Term Bond Fund Index (Benchmark) - 8.66% 9.83% 9.53% 12,513

CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.93% 12,068Past 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 Fixed Income Opportunities Fund - Growth Option is calculated from 15th July 2014. Devang Shah manages 46 schemes. Please refer to annexure on Page 28-29 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 DividendFeb 27, 2017 0.0363 0.0336 10.1672 10.1169 0.0442 - 10.1127 10.0514Jan 25, 2017 0.0429 0.0397 10.2169 10.1576 0.0462 - 10.1546 10.0907Dec 26, 2016 0.0530 0.0491 10.1806 10.1071 0.0741 - 10.1369 10.0342

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.

17


EXIT LOAD

PORTFOLIO

% OF ASSETS

TOTAL DEBT 88.04

GOVERNMENT BOND 88.04

7.61% GOI 52.74

7.59% GOI 10.05

8.60% GOI 8.54

8.20% GOI 3.62

6.79% GOI 3.32

8.28% GOI 3.02

8.83% GOI 2.48

7.35% GOI 2.31

8.40% GOI 1.95


Net Assets 100%

DATE OF ALLOTMENT

23rd January 2012

MONTHLY AVERAGE

112.24 Cr.

AS ON 28TH FEB’17

87.66 Cr.

BENCHMARK

Crisil 10 Year Gilt Index

AVERAGE MATURITY



7.09%


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

FUND MANAGER

Government Bond - 88.04%, Total Money Market Instruments* - 11.96%.

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)


NIL


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Constant Maturity 10 Year Fund - Growth 14.97% 6.33% 13.74% 8.12% 14,708

23-Jan-12Crisil 10 Year Gilt Index (Benchmark) 14.14% 7.39% 14.97% 8.59% 15,027Axis Constant Maturity 10 Year Fund - Direct Plan - Growth 15.53% 6.86% 14.33% 8.88% 14,051

Crisil 10 Year Gilt Index (Benchmark) 14.14% 7.39% 14.97% 8.67% 13,944 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. Since inception returns for Axis Constant Maturity 10 Year Fund - Growth Option is calculated from 23rd January 2012.Devang Shah manages 46 schemes. Please refer to annexure on Page 28-29 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


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 11.2019Sep 28, 2015 0.1805 0.1672 11.5626 11.1994 0.1805 0.1672 11.4494 11.3126Jan 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. & 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


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 55.48

TOTAL FIXED DEPOSIT



CRISIL AAA 11.56


NABARD CRISIL AAA 6.39

Indian Railway Finance Corp Ltd CRISIL AAA 3.62

LIC Housing Finance Limited CRISIL AAA 3.57

Indiabulls Housing Finance Limited BWR AAA 3.55

Mahindra Rural Housing Finance IND AA+ 3.52

Small Industries Dev Bank of India CARE AAA 3.33

HDFC Limited CRISIL AAA 2.56


BWR AAA 2.28



NABARD CRISIL AAA 1.24

TOTAL MONEY MARKET INSTRUMENTS^ 30.15

BANKS 30.15

IDFC Bank Limited ICRA A1+ 6.69

IndusInd Bank Limited CRISIL A1+ 6.69

Corporation Bank CRISIL A1+ 3.53

HDFC Bank Limited CARE A1+ 3.52

NABARD CRISIL A1+ 3.31

Andhra Bank CARE A1+ 2.96

Vijaya Bank CARE A1+ 1.83

Punjab & Sind Bank ICRA A1+ 1.27

IDBI Bank Limited CRISIL A1+ 0.35


NET ASSETS 100%

^Certificate of Deposit

DATE OF ALLOTMENT

8th June 2012MONTHLY AVERAGE

687.63 Cr.

AS ON 28TH FEB’17

708.58 Cr.

BENCHMARK


AVERAGE MATURITY



6.80%



FUND MANAGER

Corporate Bond - 51.15%, Total Money Market Instruments* - 44.52% State Government Bond - 3.08%, Zero Coupon Bond - 1.24%.

ICRA A1+ / CRISIL A1+ / CARE A1+ / CRISIL AAA / CARE AAA / BWR AAA & Equivalent - 93.40%

IND AA+ - 3.52% SOV - 3.08%


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)


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

EXIT LOAD


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Banking & PSU Debt Fund - Growth 9.27% 8.50% 8.37% 8.79% 14,688

08-Jun-12Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 9.29% 14,999Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.49% 13,908Axis Banking & PSU Debt Fund - Direct Plan - Growth 9.50% 8.68% 8.56% 8.88% 14,052

01-Jan-13Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 9.30% 14,267Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.47% 13,336

Past 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. Since inception returns for Axis Banking & PSU Debt Fund - Growth Option is calculated from 8th June 2012.Aditya Pagaria manages 3 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 DividendFeb 27, 2017 3.8926 - 1,012.8506 1,007.4611 4.0068 - 1,013.0101 1,007.4622Jan 25, 2017 6.6649 - 1,016.6888 1,007.4611 6.7692 - 1,016.8342 1,007.4622Dec 26, 2016 0.1263 - 1,007.6360 1,007.4611 0.2321 - 1,007.7839 1,007.4622

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. & 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

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 continued to rally during the month of February. The Nifty 50 Index was up 3.7 percent for the month while the BSE Midcap Index was up 5.4 percent. The key positive triggers during the month were the Union Budget and a better than expected earnings season.The month started with the Finance Minister presenting the Budget for 2017-18. The government’s thought process in the budget was largely consistent with its long standing agenda emphasizing fiscal discipline while pushing for infrastructure and rationalizing spending priorities. This bodes well for the equity market in the medium to long term.The economy continued its bounce back from demonetization challenges although the impact was different in different sectors.IIP data for December dragged due to demonetization impact. Personal vehicle sales rose during January while two-wheeler and tractor sales were down on a Y-o-Y basis suggesting that urban consumption categories appear to have done better vs rural consumption in the post demonetization phase. Manufacturing sentiment during the month picked up marginally as indicated by the PMI reading for February at 50.7. Services PMI has improved somewhat from its Nov-Dec lows but is still in contraction territory. Marking the sixth consecutive month of softening, headline consumer price index (CPI) fell to 3.17% in January and reached its lowest reading in the new series. In line with the recent trend, the fall was driven mainly by deflation in the prices of vegetables and pulses.Foreign Portfolio Investors turned positive both in debt and equity markets in India in February after being negative for four months. This reversal after a couple of months of negative flows was led mainly by the clarification on tax norms for FPIs in the Budget and no change in LTCG tax for equity. Net flows by domestic institutional investors were positive for the sixth month in a row, investing approx. 935crores in February.The earning season for the third quarter was better than expected driven by a better than anticipated recovery in earnings for financials and commodities. The upgrades/downgrades ratio has also shown some recovery post demonetization. Management commentary across sectors (viz staples, autos, durables) post-3Q results also suggests that normalization of activities is likely in the March quarter.Bond markets had a somewhat weak month with the benchmark 10 year yield rising by over 45 bps previous month. The large jump in yields came post the policy surprise on 8th of February. The negative reaction was exacerbated by the fact that RBI changed its stance from accommodative to neutral. Yields went up across the curve by 25 to 30 bps. RBI remained hawkish on inflation concerns coming from a sticky core inflation (around 5%) and that the fall in CPI in the past few months was due to distress sale of vegetables. At the start of the month the Finance Minister presented the Budget for 2017-18. Largely in line with market expectations the government kept the borrowing programme in check which was a positive. The more structural changes in the Budget were to bring down the debt to GDP ratio to 60% over the next few years. The budget was largely a non-event for the FI markets as the gross borrowing number at 5.8 lakh crore was in line with expectations. Bonds rallied marginally post the Finance Minister’s statement on adhering to the path of fiscal consolidation.Liquidity continued to remain positive in February. Demonetisation has led to substantial improvement in banking system liquidity which should keep the system easy going forward and is already helping shorter term bonds. Banks have cut deposit rates in view of the surge in liquidity and are likely to maintain lower deposit and lending rates going forward. Further, the announcement of the buy-back of around 75000 crores of securities is likely in the short term debt maturing over the next 2-3 years and is therefore positive for the shorter end of the curve. We had previously argued that RBI is close to the end of the rate cut cycle. RBI’s neutral stance supports this view. In this context we believe that short bonds are likely to outperform long bonds going forward. Money market and short term bonds are also beneficiaries of the abundant banking system liquidity following demonetization and are relatively insulated from the risks of global rates and inflationary pressures.The RBI’s focus on controlling inflation in the medium term provides some opportunities too. If inflation is indeed contained to 4% on a sustainable basis, yields can drop materially over the next couple of years. While rates may remain elevated in the near term, this may prove very attractive with a slightly longer term investment horizon.

Quick Take - Fixed Income

••

•

RBI policy stance turns from accommodative to neutral. Hawkish on inflation concerns.The improvement in bank liquidity is structural and is likely to benefit short and medium term rates. 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

7.63%

6.87%

26.3%

Key highlights

HYBRIDOUTLOOK

MARCH 2017

20


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 33.37TOTAL FIXED DEPOSIT 3.49CORPORATE BOND 14.52Reliance Jio Infocomm Limited CRISIL AAA 3.29Cholamandalam Investment and Finance Company Limited ICRA AA 2.90HDFC Limited CRISIL AAA 2.89Power Finance Corporation Limited CRISIL AAA 1.48Dewan Housing Finance Corporation Limited BWR AAA 1.30Rural Electrification Corporation Limited CRISIL AAA 1.29Indiabulls Housing Finance Limited CARE AAA 0.39Power Grid Corporation of India Limited CRISIL AAA 0.34Ujjivan Small Finance Bank Ltd ICRA A+ 0.65GOVERNMENT BOND Sovereign 10.12ZERO COUPON BOND 5.23JM Financial Products Ltd ICRA AA 2.59Amri Hospitals Ltd BWR A+(SO) 1.34Tata Motors Finance Ltd CRISIL AA 1.30TOTAL EQUITY 65.63TOTAL UNHEDGED EQUITY 43.11AUTO 3.76Maruti Suzuki India Limited 1.84Tata Motors Limited 1.92AUTO ANCILLARIES 2.33Motherson Sumi Systems Limited 2.33BANKS 4.17HDFC Bank Limited 1.56Kotak Mahindra Bank Limited 1.91State Bank of India 0.70CEMENT 2.29Shree Cements Limited 2.29CHEMICALS 1.23Pidilite Industries Limited 1.23CONSUMER DURABLES 2.87Symphony Limited 2.16TTK Prestige Limited 0.71CONSUMER NON DURABLES 3.46Asian Paints Limited 0.60Britannia Industries Limited 1.46Nestle India Limited 1.40FINANCE 9.80Bajaj Finance Limited 1.07Cholamandalam Investment and Finance Company Limited 2.48HDFC Limited 2.84Multi Commodity Exchange of India Limited 1.16Sundaram Finance Limited 2.25INDUSTRIAL CAPITAL GOODS 0.88Siemens Limited 0.88INDUSTRIAL PRODUCTS 3.09Astral Poly Technik Limited 0.97Cummins India Limited 2.12PESTICIDES 1.65PI Industries Limited 1.65PHARMACEUTICALS 2.18Natco Pharma Limited 0.49Sun Pharmaceuticals Industries Limited 1.69POWER 2.41Torrent Power Limited 2.41SOFTWARE 2.36Infosys Limited 2.36TELECOM - EQUIPMENT & ACCESSORIES 0.62Astra Microwave Products Limited 0.62TOTAL HEDGED EQUITY 22.52Indiabulls Real Estate Limited 0.25Century Textiles & Industries Limited 1.04Bharat Financial Inclusion Limited 0.61Zee Entertainment Enterprises Limited 0.51Tata Chemicals Limited 0.43Power Grid Corporation of India Limited 0.99MRF Limited 0.04Maruti Suzuki India Limited 0.11Glenmark Pharmaceuticals Limited 0.13Divi's Laboratories Limited 0.05Bharat Electronics Limited 0.44BEML Limited 0.04Tata Consultancy Services Limited 0.18Infosys Limited 2.07Tata Motors Limited 0.83Sun Pharmaceuticals Industries Limited 0.12IDFC Limited 0.15HDFC Limited 2.95Cipla Limited 0.75Britannia Industries Limited 0.15Asian Paints Limited 1.22Tata Motors Limited 0.91Reliance Industries Limited 6.39Reliance Capital Limited 0.71ITC Limited 0.54Indiabulls Housing Finance Limited 0.05IDFC Bank Limited 0.37The Federal Bank Limited 0.50DEBT, CASH & OTHER RECEIVABLES 1.00NET ASSET 100%

DATE OF ALLOTMENT

14th August 2015MONTHLY AVERAGE

799.05 Cr.

AS ON 28TH FEB’17

773.63 Cr.

BENCHMARK

Crisil MIP Blended Fund

Index

AVERAGE MATURITY@*


@*


7.71%

Mr. Anupam TiwariWork experience: 10 years.

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



FUND MANAGER

Unhedged Equity - 43.11%,

Debt, Cash and Other Receiv-ables - 34.37%,

Hedged Equity - 22.52%.

CRISIL AAA / CARE AAA / BWR AAA & Equivalent - 11.98%,

SOV - 10.12%, ICRA AA / CRISIL AA - 6.79%, BWR A+(SO) / ICRA A+ - 1.99%.


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)


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


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Equity Saver Fund - Growth - - 2.39% 2.09% 10,29014-Aug-15CRISIL MIP Blended Index (Benchmark) - - 11.55% 9.49% 11,334

Nifty 50 (Additional Benchmark) - - 3.01% -2.84% 9,609Axis Equity Saver Fund - Direct Plan - Growth - - 3.66% 3.38% 10,470

14-Aug-15CRISIL MIP Blended Index (Benchmark) - - 11.55% 9.49% 11,334Nifty 50 (Additional Benchmark) - - 3.01% -2.84% 9,609Past 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 Equity Saver Fund - Growth Option is calculated from 14th August 2015. Anupam Tiwari manages 2 schemes & R. Sivakumar manages 5 schemes. Please refer to annexure on Page 30 & 28 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

Monthly DividendFeb 20, 2017 0.0130 0.0130 10.3330 10.3200 0.0520 0.0520 10.5320 10.4800Dec 05, 2016 0.0625 0.0625 10.1025 10.0400 0.0625 0.0625 10.2725 10.2100Nov 02, 2016 0.0625 0.0625 10.3825 10.3200 0.0625 0.0625 10.5525 10.4900

Quarterly Dividend Sep 26, 2016 0.1875 0.1875 10.5475 10.3600 0.1875 0.1875 10.6775 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.

21


PORTFOLIO

RATING % OF ASSETSTOTAL DEBT 52.28CORPORATE BOND 40.94Power Finance Corporation Limited CRISIL AAA 11.18Rural Electrification Corporation Limited CRISIL AAA 5.81NABARD CRISIL AAA 5.23IDFC Bank Limited ICRA AAA 3.63Mahindra & Mahindra Financial Services Limited

IND AAA 3.63

Nirchem Cement Limited CRISIL AA 2.91Tata Sons Ltd CRISIL AAA 2.54SRF Limited IND AA 1.57Reliance Jio Infocomm Limited CRISIL AAA 1.47Cholamandalam Investment and Finance Company Limited

ICRA AA 1.46

HDFC Limited CRISIL AAA 0.82LIC Housing Finance Limited CRISIL AAA 0.43Adani Ports and Special Economic Zone Limited

ICRA AA+ 0.25

Blue Dart Express Limited ICRA AA 0.02ZERO COUPON BOND 11.34SVL Ltd. ICRA AA(SO) 4.46JM Financial Products Ltd ICRA AA 2.42Dev Infracity Pvt Ltd** IND AA-(SO) 2.40India Infoline Finance Ltd ICRA AA 1.86Dewan Housing Finance Corporation Limited

CARE AAA 0.17

Shriram Transport Finance Company Limited IND AA+ 0.03TOTAL MONEY MARKET INSTRUMENTS^ 19.24BANKS 11.55Canara Bank CRISIL A1+ 7.21ICICI Bank Limited ICRA A1+ 2.83IDBI Bank Limited CRISIL A1+ 1.37Punjab & Sind Bank ICRA A1+ 0.14OTHERS 7.69Shapoorji Pallonji and Company Private Ltd ICRA A1+ 3.50HDFC Limited ICRA A1+ 3.47Adani Transmission Limited IND A1+ 0.72TOTAL EQUITY 26.34FINANCE 3.58HDFC Limited 1.38Bajaj Finance Limited 0.78Cholamandalam Investment and Finance Company Limited

0.72

Multi Commodity Exchange of India Limited 0.70BANKS 3.25HDFC Bank Limited 2.00Kotak Mahindra Bank Limited 1.25AUTO ANCILLARIES 3.24Motherson Sumi Systems Limited 1.09Amara Raja Batteries Limited 0.75Endurance Technologies Limited 0.74WABCO India Limited 0.66AUTO 2.66Eicher Motors Limited 1.07Maruti Suzuki India Limited 0.91Tata Motors Limited 0.68CEMENT 1.74JK Lakshmi Cement Limited 0.93Shree Cements Limited 0.81CONSUMER NON DURABLES 1.57Nestle India Limited 0.83Asian Paints Limited 0.74PESTICIDES 1.51PI Industries Limited 0.85UPL Limited 0.66TRANSPORTATION 1.38Blue Dart Express Limited 0.79Container Corporation of India Limited 0.58PHARMACEUTICALS 1.35Lupin Limited 0.81Sun Pharmaceuticals Industries Limited 0.54CHEMICALS 0.81Pidilite Industries Limited 0.81INDUSTRIAL PRODUCTS 0.78Cummins India Limited 0.78TEXTILE PRODUCTS 0.76Page Industries Limited 0.76MEDIA & ENTERTAINMENT 0.72Zee Entertainment Enterprises Limited 0.72INDUSTRIAL CAPITAL GOODS 0.59V-Guard Industries Limited 0.59SOFTWARE 0.52Info Edge (India) Limited 0.52Other Equity (less than 0.50% of the corpus) 1.88NET CURRENT ASSETS 2.14NET ASSETS 100%^Certificate of Deposit/Commercial Paper 0.52** Secured by shares of Emami Ltd

DATE OF ALLOTMENT

16th July 2010MONTHLY AVERAGE

704.01 Cr.

AS ON 28TH FEB’17

693.36 Cr.

BENCHMARK

Crisil MIP Blended Fund Index

AVERAGE MATURITY@*


@*


7.29%

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 - 73.66%, Equity - 26.34%.

ICRA A1+ / CRISIL A1+ / IND A1+ / CRISIL AAA / CARE AAA / ICRA AAA / IND AAA & Equivalent - 56.29%

ICRA AA / CRISIL AA / ICRA AA(SO) / IND AA - 14.70% IND AA-(SO) - 2.40% ICRA AA+ / IND AA+ - 0.28%


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)


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


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Income Saver - Growth 20.68% 6.27% 4.19% 8.06% 16,500

16-Jul-10Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 8.72% 17,166CRISIL 10 year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 7.60% 16,059

Axis Income Saver - Direct Plan - Growth 22.88% 7.76% 5.77% 10.34% 14,808

04-Jan-13Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 9.63% 14,431CRISIL 10 year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.56% 13,878

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. Since inception returns for Axis Income Saver - Growth Option is calculated from 16th July 2010.Jinesh Gopani manages 3 schemes, Devang Shah manages 46 schemes & Ashish Naik manages 3 schemes. Please refer to annexure on Page 28, 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 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 - - - -Mar 25, 2013 0.7928 0.6795 10.9668 10.0668 - - - -

Half Yearly Dividend Sep 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 11.4950Sep 28, 2015 0.3611 0.3345 12.0570 11.5570 0.3611 0.3345 12.3170 11.8170

Quarterly Dividend

Mar 25, 2015 0.3629 0.3365 12.2152 11.7152 0.3629 0.3365 12.4039 11.9039Dec 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 13.1320Jun 27, 2016 0.1805 0.1672 11.2342 10.9842 0.1805 0.1672 13.0924 12.8424

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

22


PORTFOLIO

RATING % OF ASSETSTOTAL DEBT 30.69TOTAL FIXED DEPOSIT 1.08GOVERNMENT BOND Sovereign 19.77CORPORATE BOND 9.44Power Finance Corporation Limited CRISIL AAA 5.79HDFC Limited CRISIL AAA 2.92Cholamandalam Investment and Finance Company Limited

ICRA AA 0.73

ZERO COUPON BOND 0.40JM Financial Products Ltd ICRA AA 0.40TOTAL EQUITY 65.14TOTAL UNHEDGED EQUITY 58.38AUTO 5.73Mahindra & Mahindra Limited 1.13Maruti Suzuki India Limited 2.95Tata Motors Limited 1.64AUTO ANCILLARIES 2.86Motherson Sumi Systems Limited 2.86BANKS 10.70City Union Bank Limited 1.24HDFC Bank Limited 4.55ICICI Bank Limited 1.78Kotak Mahindra Bank Limited 3.13CHEMICALS 1.09Pidilite Industries Limited 1.09CONSTRUCTION PROJECT 2.11Larsen & Toubro Limited 2.11CONSUMER NON DURABLES 3.02Asian Paints Limited 1.83ITC Limited 1.19FINANCE 8.95Bajaj Finance Limited 2.00Cholamandalam Investment and Finance Company Limited

1.44

CRISIL Limited 0.87HDFC Limited 3.45Sundaram Finance Limited 1.19GAS 1.13Indraprastha Gas Limited 1.13INDUSTRIAL CAPITAL GOODS 0.87Siemens Limited 0.87INDUSTRIAL PRODUCTS 2.73Carborundum Universal Limited 0.92Cummins India Limited 1.81MEDIA & ENTERTAINMENT 1.83Zee Entertainment Enterprises Limited 1.83PESTICIDES 1.14UPL Limited 1.14PETROLEUM PRODUCTS 1.31Gulf Oil Lubricants India Limited 1.31PHARMACEUTICALS 6.36Cadila Healthcare Limited 1.88Sanofi India Limited 1.55Sun Pharmaceuticals Industries Limited 2.44Torrent Pharmaceuticals Limited 0.49POWER 0.96Torrent Power Limited 0.96SOFTWARE 4.43Info Edge (India) Limited 1.02Infosys Limited 2.33Tech Mahindra Limited 1.08Textile Products 2.63Page Industries Limited 1.32SRF Limited 1.32Transportation 0.55Gujarat Pipavav Port Limited 0.55Total Hedged Equity 6.75Century Textiles & Industries Limited 0.08Bharat Financial Inclusion Limited 1.27Mahindra & Mahindra Limited 0.33HDFC Limited 2.07Aurobindo Pharma Limited 1.47Tata Motors Limited 0.19Indiabulls Real Estate Limited 0.26IDFC Limited 0.46Dish TV India Limited 0.63DEBT, CASH & OTHER RECEIVABLES 4.18NET ASSETS 100%

DATE OF ALLOTMENT

08th December 2015

MONTHLY AVERAGE

276.45 Cr.

AS ON 28TH FEB’17

278.03 Cr.

BENCHMARK

50% Nifty 50 + 50% Crisil

Composite Bond Fund Index

AVERAGE MATURITY@*


@*


7.21%


He has been managing this fund since 6th July 2016


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

FUND MANAGER

Unhedged Equity - 58.38%, Debt, Cash and Other Receivables - 34.86%, Hedged Equity - 6.75%.

SOV - 19.77% CRISIL AAA & Equivalent - 12.89% ICRA AA - 1.13%

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

sset

Cla

ss

Equity

Debt

EquityArbitrage

Large MidDuration

High

*Hedged Equity/ Cash-futuresarbitrage

FUND STYLE

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


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


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 31, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Childrens Gift Fund - Compulsory Lock-in - Regular Plan - Growth - - 2.16% 3.29% 10,350

08-Dec-1550% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) - - 8.17% 9.46% 11,008

Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629Axis Childrens Gift Fund - Compulsory Lock-in - Direct Plan - Growth - - 3.82% 4.96% 10,528


Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629Axis Childrens Gift Fund - No Lock-in - Regular Plan - Growth - - 2.14% 3.28% 10,349


Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629Axis Childrens Gift Fund - No Lock-in - Direct Plan - Growth - - 4.24% 5.41% 10,576


Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629Past 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. Ashish Naik manages 3 schemes & R. Sivakumar manages 5 schemes. Please refer to annexure on Page 30 & 28 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.

23


PORTFOLIO

RATING % OF ASSETS

TOTAL DEBT 32.66CORPORATE BOND 22.86Reliance Gas Transportation Infrastructure Ltd

CRISIL AAA 7.48


CRISIL AAA 6.39

Tata Power Company Limited CRISIL AA- 3.78Hindalco Industries Limited CRISIL AA- 3.24Power Finance Corporation Limited CRISIL AAA 1.12India Infrastructure Fin Co Ltd CRISIL AAA 0.85GOVERNMENT BOND Sovereign 9.80TOTAL EQUITY 35.99BANKS 6.70HDFC Bank Limited 2.93Kotak Mahindra Bank Limited 2.13ICICI Bank Limited 1.65FINANCE 5.34HDFC Limited 2.42Gruh Finance Limited 0.95Bajaj Finance Limited 0.94Max Financial Services Limited 0.52Cholamandalam Investment and Finance Company Limited

0.52

AUTO ANCILLARIES 3.40Motherson Sumi Systems Limited 1.00WABCO India Limited 0.96Amara Raja Batteries Limited 0.76Endurance Technologies Limited 0.67SOFTWARE 2.79Info Edge (India) Limited 1.02Infosys Limited 0.99Tech Mahindra Limited 0.78AUTO 2.63Eicher Motors Limited 1.39Maruti Suzuki India Limited 1.24CONSUMER NON DURABLES 2.34Asian Paints Limited 1.19ITC Limited 1.16CONSTRUCTION PROJECT 1.82Larsen & Toubro Limited 1.82PHARMACEUTICALS 1.66Sun Pharmaceuticals Industries Limited

0.90

Cadila Healthcare Limited 0.77INDUSTRIAL PRODUCTS 1.52Cummins India Limited 1.52TRANSPORTATION 1.45Blue Dart Express Limited 0.73Container Corporation of India Limited

0.72

CONSUMER DURABLES 1.32Blue Star Limited 1.32CEMENT 1.28Shree Cements Limited 1.28PESTICIDES 1.19PI Industries Limited 1.19POWER 0.93Torrent Power Limited 0.93INDUSTRIAL CAPITAL GOODS 0.83Siemens Limited 0.83FERROUS METALS 0.80Tata Steel Limited 0.80EXCHANGE TRADED FUNDS 29.22Axis Gold ETF 29.22NET CURRENT ASSETS 2.13NET ASSETS 100%

DATE OF ALLOTMENT

23rd August 2010MONTHLY AVERAGE

341.65 Cr.

AS ON 28TH FEB’17

339.62 Cr.

BENCHMARK35% of Nifty 50 + 35% of Crisil

Composite BondFund Index + 30% Of

INR Price of Gold

AVERAGE MATURITY@*


@*


8.09%

Mr. R. Sivakumar Work experience: 16 years.

He has been managing the fund since 14th September 2010


He has been managing this fund since 22nd June 2016

FUND MANAGER

Equity - 35.99%, Debt - 34.79%, ETFs - 29.22%.

CRISIL AAA & Equivalent - 17.97% SOV - 9.80% CRISIL AA- - 7.02%


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)


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


Dec 31, 2013to

Dec 31, 2014

Dec 31, 2014to

Dec 31, 2015

Dec 31, 2015to

Dec 30, 2016

SinceInception

CAGR (%)



Inception date

Date ofInception

Absolute Return (%)

Absolute Return (%)

Absolute Return (%)

Axis Triple Advantage Fund - Growth 17.16% -0.51% 7.12% 7.45% 15,788

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

16.49% -0.32% 9.66% 7.58% 15,917

Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.02% 16,328Axis Triple Advantage Fund - Direct Plan Growth 18.81% 0.37% 8.05% 6.66% 12,940

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

16.49% -0.32% 9.66% 5.73% 12,495

Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.67% 13,944

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. Since inception returns for Axis Triple Advantage Fund - Growth Option is calculated from 23rd August 2010R. Sivakumar manages 5 schemes & Ashish Naik manages 3 schemes. Please refer to annexure on Page 28 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.

24

SIP PERFORMANCE OF SELECT SCHEMES (as on 30th December 2016)

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.

Axis Equity Fund - Growth Option

Total Amount Invested (Rs.) 8,30,000 6,00,000 3,60,000 1,20,000Market value as on December 30, 2016 (Rs.) 11,49,443 7,53,963 3,68,359 1,14,913Returns (Annualized) 9.26% 9.07% 1.50% -7.78%Benchmark Returns (Annualized) 7.39% 7.69% 2.79% 1.61%Additional Benchmark Returns (Annualized) 6.83% 6.98% 1.73% 1.18%

^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 (Rs.) 5,40,000 3,60,000 1,20,000Market value as on December 30, 2016 (Rs.) 6,99,533 4,05,439 1,21,463Returns (Annualized) 11.49% 7.88% 2.27%Benchmark Returns (Annualized) 6.93% 2.79% 1.61%Additional Benchmark Returns (Annualized) 8.88% 4.83% 2.78%

^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

Total Amount Invested (Rs.) 1,70,000 1,20,000Market value as on December 30, 2016 (Rs.) 1,72,525 1,20,835Returns (Annualized) 1.99% 1.30%Benchmark Returns (Annualized) 10.87% 11.49%Additional Benchmark Returns (Annualized) 1.51% 1.61%

^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 Benchmark: 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

Total Amount Invested (Rs.) 7,70,000 6,00,000 3,60,000 1,20,000Market value as on December 30, 2016 (Rs.) 10,16,266 7,44,969 3,97,700 1,21,562Returns (Annualized) 8.53% 8.59% 6.58% 2.43%Benchmark Returns (Annualized) 9.79% 10.26% 10.48% 11.50%Additional Benchmark Returns (Annualized) 9.40% 10.21% 12.59% 15.90%

^ 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)

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



SIP Investments Since Inception SIP 3 Year SIP 1 Year SIP

SIP Investments Since Inception SIP 1 Year SIP



25

NAV (as on 28th February 2017)

Fund Name

Regular Plan (`) Retail Plan (`)

Growth Daily Dividend

Weekly Dividend

Monthly Dividend

Quartely Dividend


Annual Dividend

Bonus Growth Daily Dividend

Weekly Dividend

Monthly Dividend

Bonus

Axis Equity Fund 20.03 14.49 - - - - - - - - -

Axis Focused 25 Fund 20.33 17.09 - - - - - - - - -

Axis Long Term Equity Fund 32.88 19.23 - - - - - - - - -

Axis Midcap Fund 26.42 20.58 - - - - - - - - -

Axis Equity Saver Fund 10.62 10.31 - 10.30 10.44 - - - - - -

Axis Triple Advantage Fund 16.5128 13.4680 - - - - - - - - -

Axis Income Saver Fund 16.8611 - - - 10.9104 11.4425 12.3776 - - - - - -

Axis Constant Maturity 10 Year Fund 14.4730 9.8178 - - - 11.8359 - - - - - - -

Axis Dynamic Bond Fund 16.7409 - - - 10.6978 11.1456 - - - - - - -

Axis Income Fund 15.6190 - - - 10.6858 11.3019 - - - - - - -

Axis Fixed Income Opportunities Fund 12.7452 - 10.1486 10.1194 - - - - - - - - -

Axis Short Term Fund 17.6848 11.8308 10.2267 10.2008 - - - 17.7861 17.4853 - 10.1353 10.0453 -

Axis Banking & PSU Debt Fund 1488.4397 1008.0388 1007.4658 1007.6457 - - - - - - - - -

Axis Treasury Advantage Fund 1805.8789 1006.2334 1006.3096 1005.7567 - - - - 1698.2638 1005.4758 1004.8888 1005.7345 -

Axis Liquid Fund 1787.7450 1000.8759 1002.2716 1000.7696 - - - - 1707.8265 1000.6413 1000.6880 1000.3846 -

Axis Enhanced Arbitrage Fund 11.8701 10.5308 - - - - - - - - - - -

Axis Children’s Gift Fund No Lock-In 10.7920 10.7970 - - - - - - - - - - -

Axis Children’s Gift Fund Compulsory Lock-In 10.7933 10.7978 - - - - - - - - - - -

26

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 Income 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

27

ANNEXURE FOR RETURNS OF ALL THE SCHEMES (as on 30th December 2016)

Dec 31, 2014 Dec 31, 2015 Dec 30, 2016 CAGR (%) Investment if ` 10,000 inceptionAbsolute Return (%) Absolute Return (%) Absolute Return (%) was invested on

inception date

Axis Equity Fund - Growth 40.85% -1.24% -3.62% 9.10% 18,380Nifty 50 (Benchmark) 31.39% -4.06% 3.01% 6.48% 15,510 05-Jan-10S&P BSE Sensex (Additional Benchmark) 29.89% -5.03% 1.95% 6.03% 15,055Axis Midcap Fund - Growth 76.55% 0.85% -3.11% 16.31% 24,270S&P BSE Midcap (Benchmark) 54.69% 7.43% 7.97% 10.60% 18,061 18-Feb-11Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 7.15% 14,995

Axis Long Term Equity Fund - Growth* 66.18% 6.70% -0.69% 17.19% 30,400S&P BSE 200 (Benchmark) 35.47% -1.48% 3.95% 7.08% 16,149 29-Dec-09Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 6.72% 15,778Axis Income Saver - Growth 20.68% 6.27% 4.19% 8.06% 16,500Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 8.72% 17,166 16-Jul-10CRISIL 10 year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 7.60% 16,059Axis Focused 25 Fund - Growth 38.75% 3.91% 4.56% 14.43% 18,360Nifty 50 (Benchmark) 31.39% -4.06% 3.01% 10.22% 15,507 29-Jun-12S&P BSE 200 (Additional Benchmark) 35.47% -1.48% 3.95% 11.63% 16,421

Axis Equity Saver Fund - Growth - - 2.39% 2.09% 10,290CRISIL MIP Blended Index (Benchmark) - - 11.55% 9.49% 11,334 14-Aug-15Nifty 50 (Additional Benchmark) - - 3.01% -2.84% 9,609Axis Triple Advantage Fund - Growth 17.16% -0.51% 7.12% 7.45% 15,78835% of Nifty 50 + 35% of Crisil Composite Bond 16.49% -0.32% 9.66% 7.58% 15,917 23-Aug-10Fund Index + 30% Of INR Price of Gold (Benchmark)Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.02% 16,328Axis Dynamic Bond Fund - Growth 14.06% 6.75% 13.40% 9.60% 16,837Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.48% 16,730 27-Apr-11Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.27% 15,711

#Axis Capital Protection Oriented Fund - Series 5 23.56% -4.20% 3.43% 7.13% 13,322Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 9.87% 14,797 02-Nov-12Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.50% 13,511Axis Children’s Gift Fund - Compulsory Lock-in - Regular - - 2.16% 3.29% 10,350Plan - Growth50% Nifty 50 + 50% Crisil Composite Bond Fund - - 8.17% 9.46% 11,008 08-Dec-15Index (Benchmark)Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629Axis Children’s Gift Fund - No Lock-in - Regular Plan - Growth - - 2.14% 3.28% 10,34950% Nifty 50 + 50% Crisil Composite Bond Fund - - 8.17% 9.46% 11,008 08-Dec-15Index (Benchmark)Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629

#Axis Income Saver - Growth 20.68% 6.27% 4.19% 8.06% 16,500Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 8.72% 17,166 16-Jul-10Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 7.60% 16,059Axis Dynamic Bond Fund - Growth 14.06% 6.75% 13.40% 9.60% 16,837Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.48% 16,730 27-Apr-11Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.27% 15,711Axis Fixed Income Opportunities Fund - 8.70% 9.79% 9.90% 12,619CRISIL Short-Term Bond Fund Index (Benchmark) - 8.66% 9.83% 9.53% 12,513 15-July-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.93% 12,068Axis Income Fund - Growth 15.01% 6.76% 11.62% 9.61% 15,476Crisil Composite Bond Fund Index (Benchmark) 14.31% 8.63% 12.93% 9.78% 15,596 28-Mar-12Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 9.24% 15,233Axis Short Term Fund - Growth 10.04% 8.11% 9.64% 8.40% 17,510Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 8.41% 17,518 22-Jan-10Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.77% 15,753Axis Short Term Fund - Retail Plan - Growth 10.08% 8.10% 9.64% 8.36% 17,313Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 8.51% 17,482 02-Mar-10Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.84% 15,716Axis Liquid Fund - Growth 9.10% 8.35% 7.64% 8.20% 17,688Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 7.79% 17,201 09-Oct-09Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 6.60% 15,878Axis Liquid Fund - Retail Plan - Growth 8.55% 7.79% 7.08% 7.98% 16,911Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 8.07% 17,008 01-Mar-10Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 6.84% 15,720Axis Treasury Advantage Fund - Growth 8.72% 8.53% 8.16% 8.33% 17,837Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 7.79% 17,198 09-Oct-09Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.60% 15,876Axis Treasury Advantage Fund - Retail Plan - Growth 7.98% 7.84% 7.46% 7.88% 16,793Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 8.07% 16,995 03-Mar-10Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.84% 15,716Axis Gold ETF 0.74% -8.02% 9.88% 4.12% 12,818 10-Nov-10Domestic Price of Gold 2.13% -7.24% 11.80% 3.91% 12,656Additional Benchmark Not ApplicableAxis Gold Fund -11.42% -11.86% 10.70% -1.83% 9,082 20-Oct-11Domestic Price of Gold 2.13% -7.24% 11.80% -0.53% 9,727Additional Benchmark Not ApplicableAxis Enhanced Arbitrage Fund - Growth - 7.30% 6.95% 7.23% 11,807CRISIL Liquid Fund Index (Benchmark) - 8.23% 7.48% 8.02% 12,016 14-Aug-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.94% 11,994Axis Constant Maturity 10 Year Fund - Growth 14.97% 6.33% 13.74% 8.12% 14,708 23-Jan-12Crisil 10 Year Gilt Index (Benchmark) 14.14% 7.39% 14.97% 8.59% 15,027

#Axis Hybrid Fund - Series 5 - Growth 21.61% -2.13% 0.19% 6.19% 12,292Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 11.07% 14,343 25-Jul-13Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 8.09% 13,062

#Axis Hybrid Fund - Series 6 - Growth 23.03% -4.56% 0.78% 6.90% 12,527Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 12.27% 14,781 16-Aug-13Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 8.17% 13,035

#Axis Hybrid Fund - Series 7 - Growth 22.89% -4.20% 0.62% 6.84% 12,456Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 11.66% 14,421 05-Sep-13Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 8.06% 12,934

#Axis Hybrid Fund - Series 8 - Growth - -4.32% 1.54% 4.74% 11,455Crisil MIP Blended Fund Index (Benchmark) - 6.79% 11.55% 11.59% 13,795 24-Jan-14

Dec 31, 2013 to Dec 31, 2014 to Dec 31, 2015 to Since Inception Current Value of Date of

FUNDS MANAGED BY SHREYASH DEVALKAR

FUNDS MANAGED BY JINESH GOPANI

FUNDS MANAGED BY R. SIVAKUMAR

FUNDS MANAGED BY DEVANG SHAH

Past performance may or may not be sustained in future. Please read the note at the end of the table for explanation.

28

Dec 31, 2013 to Dec 31, 2014 to Dec 31, 2015 to Since Inception Current Value of Date of Dec 31, 2014 Dec 31, 2015 Dec 30, 2016 CAGR (%) Investment if ` 10,000 inception

Absolute Return (%) Absolute Return (%) Absolute Return (%) was invested oninception date

Crisil 1 yr Tbill Index (Additional Benchmark) - 8.22% 7.27% 7.98% 12,525#Axis Hybrid Fund - Series 9 - Growth - -4.18% 1.54% 4.87% 11,466

Crisil MIP Blended Fund Index (Benchmark) - 6.79% 11.55% 12.20% 13,932 13-Feb-14Crisil 1 yr Tbill Index (Additional Benchmark) - 8.22% 7.27% 8.08% 12,507

#Axis Hybrid Fund - Series 11 - Growth - -3.62% 1.81% 3.25% 10,884CRISIL MIP Blended Index (Benchmark) - 6.79% 11.55% 11.26% 13,264 9-May-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.98% 12,253


#Axis Hybrid Fund - Series 13 - Growth - -3.54% 1.94% 2.86% 10,741CRISIL MIP Blended Index (Benchmark) - 6.79% 11.55% 10.34% 12,835 18-Jun-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.92% 12,133

#Axis Hybrid Fund - Series 14 - Growth - -0.39% 1.67% 1.53% 10,360CRISIL MIP Blended Index (Benchmark) - 6.79% 11.55% 10.27% 12,556 2-Sep-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.94% 11,947


#Axis Hybrid Fund - Series 18 - Growth - - 3.52% 0.32% 10,063CRISIL MIP Blended Index (Benchmark) - - 11.55% 8.49% 11,719 19-Jan-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.65% 11,544

#Axis Hybrid Fund - Series 19 - Growth - - 3.76% -0.12% 9,976CRISIL MIP Blended Index (Benchmark) - - 11.55% 8.37% 11,655 04-Feb-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.71% 11,518

#Axis Hybrid Fund - Series 22 - Growth - - 3.68% -0.70% 9,885CRISIL MIP Blended Index (Benchmark) - - 11.55% 9.52% 11,610 11-May-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.63% 11,283


#Axis Hybrid Fund - Series 24 - Growth - - 3.65% -0.08% 9,988CRISIL MIP Blended Index (Benchmark) - - 11.55% 10.31% 11,631 17-Jun-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.55% 11,185

#Axis Hybrid Fund - Series 25 - Growth - - 3.56% 0.85% 10,115CRISIL MIP Blended Index (Benchmark) - - 11.55% 10.67% 11,467 25-Aug-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.45% 11,019

#Axis Hybrid Fund - Series 26 - Growth - - 3.38% 1.46% 10,192Crisil Composite Bond Fund Index (85%) and Nifty 50 - - 11.55% 10.91% 11,449 10-Sep-15 Index (15%) (Benchmark) CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.37% 10,974

#Axis Hybrid Fund - Series 27 - Growth - - 4.01% 0.72% 10,084Crisil Composite Bond Fund Index (85%) and Nifty 50 - - 11.55% 9.97% 11,179 29-Oct-15Index (15%) (Benchmark)Crisil 1 yr Tbill Index (Additional Benchmark) - - 7.27% 7.18% 10,847

#Axis Hybrid Fund - Series 28 - Growth - - 3.42% 2.73% 10,305Crisil Composite Bond Fund Index (85%) and Nifty 50Index (15%) (Benchmark) - - 11.55% 11.06% 11,244 18-Nov-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.19% 10,808

Axis Enhanced Arbitrage Fund - Growth - 7.30% 6.95% 7.23% 11,807CRISIL Liquid Fund Index (Benchmark) - 8.23% 7.48% 8.02% 12,016 14-Aug-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.94% 11,994

#Axis Hybrid Fund - Series 5 - Growth 21.61% -2.13% 0.19% 6.19% 12,292Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 11.07% 14,343 25-Jul-13Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 8.09% 13,062

#Axis Hybrid Fund - Series 6 - Growth 23.03% -4.56% 0.78% 6.90% 12,527Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 12.27% 14,781 16-Aug-13Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 8.17% 13,035

#Axis Hybrid Fund - Series 7 - Growth 22.89% -4.20% 0.62% 6.84% 12,456Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 11.66% 14,421 05-Sep-13Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 8.06% 12,934

#Axis Hybrid Fund - Series 8 - Growth - -4.32% 1.54% 4.74% 11,455Crisil MIP Blended Fund Index (Benchmark) - 6.79% 11.55% 11.59% 13,795 24-Jan-14Crisil 1 yr Tbill Index (Additional Benchmark) - 8.22% 7.27% 7.98% 12,525

#Axis Hybrid Fund - Series 9 - Growth - -4.18% 1.54% 4.87% 11,466Crisil MIP Blended Fund Index (Benchmark) - 6.79% 11.55% 12.20% 13,932 13-Feb-14Crisil 1 yr Tbill Index (Additional Benchmark) - 8.22% 7.27% 8.08% 12,507



#Axis Hybrid Fund - Series 13 - Growth - -3.54% 1.94% 2.86% 10,741CRISIL MIP Blended Index (Benchmark) - 6.79% 11.55% 10.34% 12,835 18-Jun-14CRISIL 1 Year T-Bill (Additional Benchmark) - 8.22% 7.27% 7.92% 12,133



#Axis Hybrid Fund - Series 18 - Growth - - 3.52% 0.32% 10,063CRISIL MIP Blended Index (Benchmark) - - 11.55% 8.49% 11,719 19-Jan-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.65% 11,544

#Axis Hybrid Fund - Series 19 - Growth - - 3.76% -0.12% 9,976CRISIL MIP Blended Index (Benchmark) - - 11.55% 8.37% 11,655 04-Feb-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.71% 11,518



#Axis Hybrid Fund - Series 24 - Growth - - 3.65% -0.08% 9,988CRISIL MIP Blended Index (Benchmark) - - 11.55% 10.31% 11,631 17-Jun-15

FUNDS MANAGED BY ASHWIN PATNI

ANNEXURE FOR RETURNS OF ALL THE SCHEMES (CONTD.) (as on 30th December 2016)

Past performance may or may not be sustained in future. Please read the note at the end of the table for explanation.

29

Dec 31, 2013 to Dec 31, 2014 to Dec 31, 2015 to Since Inception Current Value of Date of Dec 31, 2014 Dec 31, 2015 Dec 30, 2016 CAGR (%) Investment if ` 10,000 inception

Absolute Return (%) Absolute Return (%) Absolute Return (%) was invested oninception date

CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.55% 11,185#Axis Hybrid Fund - Series 25 - Growth - - 3.56% 0.85% 10,115

CRISIL MIP Blended Index (Benchmark) - - 11.55% 10.67% 11,467 25-Aug-15CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.45% 11,019

#Axis Hybrid Fund - Series 26 - Growth - - 3.38% 1.46% 10,192Crisil Composite Bond Fund Index (85%) and Nifty 50 - - 11.55% 10.91% 11,449 10-Sep-15Index (15%) (Benchmark)CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.37% 10,974

#Axis Hybrid Fund - Series 27 - Growth - - 4.01% 0.72% 10,084Crisil Composite Bond Fund Index (85%) and Nifty 50 - - 11.55% 9.97% 11,179 29-Oct-15Index (15%) (Benchmark) Crisil 1 yr Tbill Index (Additional Benchmark) - - 7.27% 7.18% 10,847

#Axis Hybrid Fund - Series 28 - Growth - - 3.42% 2.73% 10,305Crisil Composite Bond Fund Index (85%) and Nifty 50 - - 11.55% 11.06% 11,244 18-Nov-15Index (15%) (Benchmark) CRISIL 1 Year T-Bill (Additional Benchmark) - - 7.27% 7.19% 10,808

#Axis Capital Protection Oriented Fund - Series 5 23.56% -4.20% 3.43% 7.13% 13,322Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 9.87% 14,797 02-Nov-12Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.50% 13,511

Axis Triple Advantage Fund - Growth 17.16% -0.51% 7.12% 7.45% 15,78835% of Nifty 50 + 35% of Crisil Composite Bond Fund 16.49% -0.32% 9.66% 7.58% 15,917 23-Aug-10Index + 30% Of INR Price of Gold (Benchmark) Crisil 10 Year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 8.02% 16,328

#Axis Income Saver - Growth 20.68% 6.27% 4.19% 8.06% 16,500Crisil MIP Blended Fund Index (Benchmark) 16.83% 6.79% 11.55% 8.72% 17,166 16-Jul-10CRISIL 10 year Gilt Index (Additional Benchmark) 14.14% 7.39% 14.97% 7.60% 16,059Axis Children’s Gift Fund - Compulsory Lock-in - Regular - - 2.16% 3.29% 10,350Plan - Growth 50% Nifty 50 + 50% Crisil Composite Bond Fund - - 8.17% 9.46% 11,008 08-Dec-15Index (Benchmark) Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629Axis Children’s Gift Fund - No Lock-in - Regular Plan - Growth - - 2.14% 3.28% 10,34950% Nifty 50 + 50% Crisil Composite Bond Fund Index (Benchmark) - - 8.17% 9.46% 11,008 08-Dec-15Nifty 50 (Additional Benchmark) - - 3.01% 5.90% 10,629

Axis Liquid Fund - Growth 9.10% 8.35% 7.64% 8.20% 17,688Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 7.79% 17,201 09-Oct-09Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 6.60% 15,878Axis Liquid Fund - Retail Plan - Growth 8.55% 7.79% 7.08% 7.98% 16,911Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.50% 8.07% 17,008 01-Mar-10Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.29% 6.84% 15,720Axis Treasury Advantage Fund - Growth 8.72% 8.53% 8.16% 8.33% 17,837Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 7.79% 17,198 09-Oct-09Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.60% 15,876Axis Treasury Advantage Fund - Retail Plan - Growth 7.98% 7.84% 7.46% 7.88% 16,793Crisil Liquid Fund Index (Benchmark) 9.21% 8.23% 7.48% 8.07% 16,995 03-Mar-10Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 6.84% 15,716Axis Banking & PSU Debt Fund - Growth 9.27% 8.50% 8.37% 8.79% 14,688Crisil Short Term Bond Fund Index (Benchmark) 10.47% 8.66% 9.83% 9.29% 14,999 08-Jun-12Crisil 1 Year T-Bill Index (Additional Benchmark) 8.56% 8.22% 7.27% 7.49% 13,908

Axis Equity Saver Fund - Growth - - 2.39% 2.09% 10,290CRISIL MIP Blended Index (Benchmark) - - 11.55% 9.49% 11,334 14-Aug-15Nifty 50 (Additional Benchmark) - - 3.01% -2.84% 9,609Axis Small Cap Fund - Growth 84.33% 9.73% 3.99% 27.84% 21,350Nifty Free Float Smallcap 100 (Benchmark) 54.95% 7.21% 2.26% 21.31% 18,157 29-Nov-13Nifty 50 (Additional Benchmark) 31.39% -4.06% 3.01% 9.55% 13,254

FUNDS MANAGED BY ASHISH NAIK

FUNDS MANAGED BY ADITYA PAGARIA

FUNDS MANAGED BY ANUPAM TIWARI

ANNEXURE FOR RETURNS OF ALL THE SCHEMES (CONTD.) (as on 30th December 2016)

Past performance may or may not be sustained in future. Calculations are based of 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. Above data excludes returns of Fixed Maturity Plans and 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, AxisTreasury 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.

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: 2.28% / 1.43%, Axis Hybrid Fund - Series 7: 2.28% / 1.43%, Axis Hybrid Fund - Series 8: 2.26% / 1.31%, Axis Hybrid Fund - Series 9: 2.27% / 1.32%, Axis Hybrid Fund - Series 11: 2.32% / 1.37%, Axis Hybrid Fund - Series 12: 2.29% / 1.34%, Axis Hybrid Fund - Series 13 : 2.19% / 1.24%, Axis Hybrid Fund - Series 14 : 2.19% / 1.19%, Axis Hybrid Fund - Series 15 : 2.27% / 1.27%, Axis Hybrid Fund - Series 18 : 2.19% / 1.14%, Axis Hybrid Fund - Series 19 : 2.28% / 1.23%, Axis Hybrid Fund - Series 22 : 2.06% / 0.87%, Axis Hybrid Fund - Series 23 : 2.07% /0.88%, Axis Hybrid Fund - Series 24 : 2.03% / 0.84%, Axis Hybrid Fund - Series 25 : 2.15% / 0.96%, Axis Hybrid Fund - Series 26 : 2.12% / 0.93%, Axis Hybrid Fund - Series 27 : 2.09% /0.90%, Axis Hybrid Fund - Series 28 : 2.10% / 0.91%, Axis Hybrid Fund - Series 29 : 2.25% / 1.06%, Axis Hybrid Fund - Series 30 : 2.20% / 1.01%, Axis Hybrid Fund - Series 31* : 2.11% / 0.81%, Axis Hybrid Fund - Series 32* : 2.07% / 1.07%, Axis Hybrid Fund - Series 33* : 2.08% / 0.78%, Axis Hybrid Fund - Series 35* : 2.14% / 0.84%, Axis Liquid Fund : 0.15% / 0.07%, Axis Treasury Advantage Fund : 0.56% / 0.21%, 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 Income Fund : 1.00% / 0.49%, Axis Gold ETF : 1.00% / -, Axis Gold Fund :1.00% / 0.15%, Axis Fixed Income Opportunities Fund* : 1.25% / 0.20%, Axis Enhanced Arbitrage Fund : 0.95% / 0.25%, Axis Income Saver* : 2.13% / 1.26%, Axis Long Term Equity Fund*: 1.98% / 1.28%, Axis Focused 25 Fund* : 2.24% / 1.51%, Axis Equity Fund : 2.10% / 1.40%, Axis Triple Advantage Fund* : 1.75% / 0.94%, Axis Midcap Fund* : 2.20% / 1.39%, Axis Equity Saver Fund* : 2.33% / 1.53%, Axis Small Cap Fund : 2.52% / 1.57%, Axis Children’s Gift Fund : 2.54% / 1.10%, Axis Capital Protection Oriented Fund -Series 5: 2.45% / -, Axis Emerging Opportunities Fund* - Series 1: 2.25% / 0.95%, Axis Emerging Opportunities Fund* - Series 2: 2.03% / 0.73%, Axis Fixed Maturity Plan - Series 42 : 0.52% / 0.18%, Axis Fixed Maturity Plan - Series 43 : 0.41% / 0.05%, Axis Fixed Maturity Plan - Series 47 : 0.48% / 0.08%, Axis Fixed Maturity Plan - Series 48 : 0.24% / 0.03%, 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 53 : 0.52% / 0.08%, Axis Fixed Maturity Plan - Series 61 : 0.49% / 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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PRODUCT LABELLINGAXIS EQUITY FUND

AXIS FOCUSED 25 FUND

AXIS LONG TERM EQUITY FUND

AXIS MIDCAP FUND

AXIS TRIPLE ADVANTAGE FUND

AXIS INCOME SAVER

AXIS GOLD ETF

AXIS GOLD FUND

AXIS EQUITY SAVER FUND

AXIS CHILDREN’S GIFT FUND

AXIS CONSTANT MATURITY 10 YEAR FUND

AXIS DYNAMIC BOND FUND

AXIS INCOME FUND

AXIS ENHANCED ARBITRAGE FUND

AXIS FIXED INCOME OPPORTUNITIES FUND

AXIS SHORT TERM FUND

AXIS BANKING & PSU DEBT FUND

AXIS TREASURY ADVANTAGE FUND

AXIS LIQUID FUND

This product is suitable for investors who are seeking*l Capital appreciation over long term.l Investment in a diversified portfolio predominantly consisting of equity and equity related instruments.

This product is suitable for investors who are seeking*l Capital appreciation over long terml Investment in a concentrated portfolio of equity & equity related instruments of up to 25 companies.

This product is suitable for investors who are seeking*l Capital appreciation & generating income over long term.l Investment in a diversified portfolio predominantly consisting of equity and equity related instruments.

This product is suitable for investors who are seeking*l Capital appreciation over long term.l Investment predominantly in equity and equity related instruments of mid size companies with focus on relatively

larger companies within this category.

This product is suitable for investors who are seeking*l Capital appreciation & generating income over long term.l Investment in a diversified portfolio of equity and equity related instruments, fixed income instruments & gold

exchange traded funds.

This product is suitable for investors who are seeking*l Capital appreciation while generating income over medium to long term.l Investment in debt and money market instruments as well as equity and equity related instruments while managing

risk through active asset allocation.

This product is suitable for investors who are seeking*l Capital Appreciation over medium to long term.l Invests predominantly in gold in order to generate returns similar to the performance of gold, subject to tracking

error.

This product is suitable for investors who are seeking*l Capital Appreciation over medium to long term.l Invests predominantly in Axis Gold ETF in order to generate returns similar to the underlying fund, subject to

tracking error.

This product is suitable for investors who are seeking*l Capital Appreciation while generating income over medium to long term.l 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.

This product is suitable for investors who are seeking*l Capital appreciation & generating income over medium to long term.l Investment in debt and money market instruments as well as equity and equity related instruments.

This product is suitable for investors who are seeking*l Credit risk free returns over medium to long term.l Investment mainly in Government securities to generate returns similar to that of 10 year government bonds.

This product is suitable for investors who are seeking*l Optimal returns over medium to long term.l To generate stable returns while maintaining liquidity through active management of a portfolio of debt and

money market instruments.

This product is suitable for investors who are seeking*l Optimal returns over medium term.l Investment in diversified portfolio of high quality debt and money market securities to generate optimal risk

adjusted returns while maintaining liquidity.

This product is suitable for investors who are seeking*l Income over short to medium term.l Investment in arbitrage opportunities in the cash & derivatives segment of the equity market.

This product is suitable for investors who are seeking*l Stable returns in the short to medium term.l Investment in debt and money market instruments across the yield curve and credit spectrum.

This product is suitable for investors who are seeking*l Regular income while maintaining liquidity over short to medium term.l Investment in debt and money market instruments.

This product is suitable for investors who are seeking*l Regular income over short to medium term.l Investment in debt and money market instruments issued by banks, PFIs & PSUs.

This product is suitable for investors who are seeking*l Regular income over short term.l Investment in debt and money market instruments.

This product is suitable for investors who are seeking*l Regular income over short term.l Investment in debt and money market instruments.

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

This communication is only for distributors and their clients.Statutory Details & Disclaimers: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

Limited. Investment Manager: Axis Asset Management Company Limited (the AMC). Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of any of the mutual fund schemes launched by the AMC.

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