Axis Nifty Bank Index Fund Direct-IDCW
NAV as of Aug 29, 2024
10.470.02%
(Earn upto 0.87% Extra Returns with Direct Plan)
Fund Category:
Equity: Sectoral-Banking
Expense Ratio:
0.10%(0.62% Category
average)Fund Size:
Rs. 123.11 Cr(0.30% of Investment in Category)
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Axis Nifty Bank Index Fund Direct-IDCW
NAV as of Aug 29, 2024
10.470.02%
Expense Ratio:
0.10%
Fund Size:
Rs. 123.11 Cr
Fund Category:
Equity: Sectoral-Banking
1. Current NAV: The Current Net Asset Value of the Axis Nifty Bank Index Fund - Direct Plan as of Aug 29, 2024 is Rs 10.47 for IDCW option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 4.64% (since launch). Whereas, Category returns for the same time duration are: 24.78% (1yr), 16.52% (3yr) and 15.59% (5yr).
3. Fund Size: The Axis Nifty Bank Index Fund - Direct Plan currently holds Assets under Management worth of Rs 123.11 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.1% for Direct plan as on Aug 23, 2024.
5. Exit Load: Axis Nifty Bank Index Fund - Direct Plan shall attract an Exit Load, "Exit load of 0.25%, if redeemed within 7 days."
6. Minimum Investment: Minimum investment required is Rs 500 and minimum additional investment is Rs 100. Minimum SIP investment is Rs 100.
Axis Nifty Bank Index Fund Direct-IDCW Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns -0.27 5.68 - - - - Category Avg -0.06 6.61 11.47 24.80 16.49 15.98 Rank within Category 22 28 - - - - No. of funds within Category 54 51 49 43 28 18 - Loading...
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Return Comparison
- This Fund
- BenchmarkNIFTY Bank Total Return Index
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Axis Nifty Bank Index Fund Direct-IDCW Fund Details
Investment Objective - The scheme seeks to provide returns before expenses that corresponds to the total returns of the Nifty Bank TRI subject to tracking errors.
Fund House | Axis Mutual Fund |
Launch Date | May 24, 2024 |
Benchmark | NIFTY Bank Total Return Index |
Return Since Launch | 4.66% |
Riskometer | Very High |
Type | Open-ended |
Risk Grade | - |
Return Grade | - |
Axis Nifty Bank Index Fund Direct-IDCW Investment Details
Minimum Investment (Rs.) | 500.00 |
Minimum Additional Investment (Rs.) | 100.00 |
Minimum SIP Investment (Rs.) | 100.00 |
Minimum Withdrawal (Rs.) | - |
Exit Load Exit load of 0.25%, if redeemed within 7 days. |
Portfolio Allocation
Asset Allocation
Asset Allocation History
Sector Allocation
Market Cap Allocation
Concentration & Valuation Analysis
JUL 2024 | JUN 2024 | MAY 2024 | |
---|---|---|---|
Number of Holdings | 12 | 12 | 12 |
Top 5 Company Holdings | 81.52% | 81.86% | 80.6% |
Top 10 Company Holdings | 96.62% | 96.81% | 97.15% |
Company with Highest Exposure | HDFC Bank (27.48%) | HDFC Bank (28.32%) | HDFC Bank (29.51%) |
Number of Sectors | 1 | 1 | 1 |
Top 3 Sector Holdings | 99.58% | 99.61% | 100.11% |
Top 5 Sector Holdings | 99.58% | 99.61% | 100.11% |
Sector with Highest Exposure | Financial (99.58%) | Financial (99.61%) | Financial (100.11%) |
Top Stock Holdings
Sector Holdings in MF
Company Sector Assest(%) P/E EPS-TTM(₹) RETURN 1 YR(%) HDFC Bank Financial 27.48 18.27 89.60 3.03 ICICI Bank Financial 23.97 18.65 65.91 26.26 State Bank of India Financial 10.5 10.55 77.28 41.69 Kotak Mahindra Bank Financial 10.28 16.46 108.21 -0.33 Axis Bank Financial 9.29 13.59 86.50 19.85 Indusind Bank Financial 5.44 12.30 115.88 1.24 The Federal Bank Financial 2.75 11.83 16.46 35.63 Bank of Baroda Financial 2.72 6.77 36.95 30.68 Punjab National Bank Financial 2.12 10.90 10.69 83.53 AU Small Finance Bank Financial 2.07 31.01 22.21 -12.45
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Peer Comparison
Cumulative Returns
SIP returns
Discrete Returns
Quant Measures
Asset Allocation
Scheme Name NAV(Rs./Unit) Scheme Rating AUM(Rs. Cr) 1M 1Y 3Y 5Y Axis Nifty Bank Index Fund Direct-IDCW 10.47 Unrated 123.11 -0.17 - - - Sundaram Financial Services Opportunities Fund Direct-IDCW 37.62 1,409.46 1.50 33.76 20.33 20.82 Nippon India Banking & Financial Services Fund Direct-IDCW 104.69 6,029.38 1.46 28.38 18.82 18.62 Invesco India Financial Services Fund Direct-IDCW 76.74 948.64 1.85 43.21 18.66 19.77 SBI Banking & Financial Services Fund Direct-IDCW 37.17 5,979.63 0.47 36.75 16.17 18.30
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Risk Ratio data not available for this fund
Axis Mutual Fund News
Fund Manager
- A.N.Ashish NaikSince May 20249 schemes
- K.K.Karthik KumarSince May 20249 schemes
Mr. Naik is a B.E from Mumbai University and MBA from XLRI, Jamshedpur. Prior to joining Axis Mutual Fund he was associated with organizations such as Goldman Sachs and has over 7 years of experience as an Equity Analyst.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Axis Balanced Advantage Fund Direct-IDCW Dynamic Asset Allocation 15.15 2,466.12 31.78 Axis Nifty 100 Index Fund Direct-IDCW Large Cap 23.12 1,650.89 36.71 Axis ELSS Tax Saver Direct Plan-IDCW ELSS 59.34 38,278.40 37.49 Axis Bluechip Fund Direct Plan-IDCW Large Cap 28.68 35,013.27 34.41 Axis Equity Hybrid Fund Direct-IDCW Aggressive Hybrid 15.84 1,682.75 28.63 Axis BSE Sensex Index Fund Direct-IDCW Large Cap 11.33 Unrated 44.94 - Axis Business Cycles Fund Direct-IDCW Thematic 16.96 Unrated 2,919.99 41.53 Axis Quant Fund Direct-IDCW Thematic 18.27 Unrated 1,166.82 42.18 Axis Innovation Fund Direct-IDCW Thematic 19.35 Unrated 1,277.08 39.31 Mr. Kumar has done M.B.A, C.F.A, (USA) & B.E (Mechanical) Prior to joining Axis Mutual Fund he has worked with SilverTree Hong Kong and Asiya Investment, Hong Kong
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Axis Nifty 100 Index Fund Direct-IDCW Large Cap 23.12 1,650.89 36.71 Axis Nifty IT Index Fund Direct-IDCW Sectoral-Technology 14.46 Unrated 128.17 40.23 Axis BSE Sensex Index Fund Direct-IDCW Large Cap 11.33 Unrated 44.94 - Axis Equity ETFs FoF Direct-IDCW Flexi Cap 16.56 Unrated 22.54 40.05 Axis Nifty Smallcap 50 Index Fund Direct-IDCW Small Cap 19.37 Unrated 397.63 63.81 Axis Nifty Midcap 50 Index Fund Direct-IDCW Mid Cap 20.01 Unrated 392.20 48.41 Axis Nifty Next 50 Index Fund Direct-IDCW Large Cap 18.35 Unrated 271.25 67.93 Axis Nifty 50 Index Fund Direct-IDCW Large Cap 14.99 Unrated 510.52 31.11 Axis Quant Fund Direct-IDCW Thematic 18.27 Unrated 1,166.82 42.18
More Axis Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Axis ELSS Tax Saver Direct Plan-Growth | 34,025.16 | 2.52 | 5.75 | 12.28 | 34.02 | 9.79 | |
Axis Liquid Direct Fund -Growth | 33,841.39 | 0.60 | 1.85 | 3.62 | 7.32 | 5.42 | |
Axis Bluechip Fund Direct Plan-Growth | 32,645.86 | 3.88 | 7.89 | 14.04 | 30.20 | 11.36 | |
Axis Midcap Direct Plan-Growth | 25,264.05 | 2.01 | 6.97 | 11.16 | 38.28 | 18.30 | |
Axis Small Cap Fund Direct-Growth | 19,606.42 | -2.97 | 3.61 | 8.96 | 38.67 | 27.19 | |
Axis Banking & PSU Debt Direct Plan -Growth | 13,930.05 | 0.72 | 2.08 | 3.49 | 7.66 | 5.40 | |
Axis Focused 25 Direct Plan-Growth | 13,538.39 | 2.04 | 5.56 | 10.99 | 30.09 | 7.71 | |
Axis Flexi Cap Fund Direct - Growth | 11,490.97 | 2.19 | 5.72 | 11.30 | 31.23 | 12.13 | |
Axis Growth Opportunities Fund Direct - Growth | 11,310.89 | 2.47 | 9.21 | 14.89 | 44.82 | 19.85 | |
Axis Overnight Fund Direct - Growth | 10,498.82 | 0.52 | 1.67 | 3.39 | 6.83 | 5.13 |
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1. Axis Nifty Bank Index Fund - Direct Plan is Open-ended Sectoral-Banking Equity scheme which belongs to Axis Mutual Fund House.
2. The fund was launched on May 24, 2024.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to provide returns before expenses that corresponds to the total returns of the Nifty Bank TRI subject to tracking errors. "
2. It is benchmarked against NIFTY Bank Total Return Index.
Asset Allocation & Portfolio Composition
1. The asset allocation of the fund comprises around 99.58% in equities, 0.78% in debts and -0.35% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 96.62% of the assets, the top 3 sectors constitute around 99.58% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations - around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
Tax Implications on Axis Nifty Bank Index Fund Direct-IDCW
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax - STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of upto Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax - LTCG).
4. For Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
5. Also, for dividend income in excess of Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
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FAQs about Axis Nifty Bank Index Fund Direct-IDCW
- Is it safe to invest in Axis Nifty Bank Index Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Axis Nifty Bank Index Fund - Direct Plan comes under Very High risk category.
- What is the category of Axis Nifty Bank Index Fund - Direct Plan?Axis Nifty Bank Index Fund - Direct Plan belongs to the Equity : Sectoral-Banking category of funds.
- How Long should I Invest in Axis Nifty Bank Index Fund - Direct Plan?The suggested investment horizon of investing into Axis Nifty Bank Index Fund - Direct Plan is >3 years. The suggested investment horizon is the minimum time required for holding investments in the fund to reduce its downside risk and ensure that the returns become more predictable.
- Who manages the Axis Nifty Bank Index Fund - Direct Plan?The Axis Nifty Bank Index Fund - Direct Plan is managed by Ashish Naik (Since May 03, 2024) and Karthik Kumar (Since May 03, 2024).
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