Axis Midcap Fund (Growth) is recommended for investment within mid cap mutual funds.
Mid cap funds provides inflation beating growth over the long term and is suitable for investment objectives with duration of 10-15 years or longer (minimum 5 years).
Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.
Axis Asset Management Company Limited manages assets worth 222,545 crores and was set up on 13 January 2009. It's current offering of mutual fund schemes includes 33 equity,93 debt and 35 hybrid funds.
We use a proprietary system to rate mutual funds and based on that make a recommendation or rate the fund as top ranked.
What Scripbox recommendations mean?
Recommended
Scripbox algorithm recommends 2-4 funds for investment for an investment asset class such as large cap, diversified, liquid etc. When you invest for an objective, the algorithm suggests the appropriate asset class and funds.
Top Ranked
Neutral
Not Recommended
Track Record
We look at consistent and long historical performance for our analysis.
Fund Size
We look at the size of the fund with respect to other funds in the category. Larger funds are preferred.
Sub-asset Class View
We check if the sub-category of the fund is recommended by us.
Fund Performance
Consistency of performance over various tenures is analysed for a relative performance stack.
Track Record
We look at consistent and long historical performance for our analysis.
Fund Size
We look at the size of the fund with respect to other funds in the category. Larger funds are preferred.
Impact of Interest Rates
We check the relative interest rate risk of the sub-category of the fund. Lower the better.
Credit Attractiveness
We check the credit quality of the underlying instruments present in the fund. Higher the better.
Equity Funds
Debt Funds
Axis Midcap Cap Fund-Growth is an open-ended midcap equity mutual fund scheme. The fund primarily invests in equity & equity related instruments of midcap companies. The fund provides long-term capital appreciation and wealth creation over the investment tenure. Axis Mutual Fund manages the fund with the fund manager being Mr. Shreyash Devalkar. The fund is more suitable for an investment goal like children’s education & their future, retirement or any other long term growth. The fund is under a continuous and active management of its portfolio. Its portfolio is diversified across sectors in order to manage the risk.
Axis Midcap Cap Fund-Growth Investment Objective
The investment objective of the Scheme is to generate long term capital appreciation by investing predominantly in equity & equity-related instruments of Mid Cap companies. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. The fund invests its assets in stocks of Indian companies by market capitalization. Midcap companies have the potential to deliver superior returns due to potential of faster earnings growth. Moreover, such companies are emerging in terms of growth and potential. However, it is important to be vigilant about the business and growth prospects of these companies.
Axis Midcap Cap Fund-Growth Scheme Details
The scheme was launched on 18th February 2011 and it has been in existence for the past 10 years. It provides inflation-beating returns and growth of capital over the investment horizon.
NAV and Returns – As of 28th June 2021, the NAV of the fund is Rs 60.8. The risk-o-meter of the fund is very high risk. With this risk level, the investor must understand that their principal amount invested is at very high risk. With the existence of 10 years, Axis Midcap Cap Fund-Growth has delivered a return of 19% since its inception.
Minimum Investment – The fund requires a minimum SIP investment of Rs 1000 and a minimum lump sum investment of Rs 5000
Expense Ratio and Exit Load – The expense ratio charged by the fund is 1.87%. This expense ratio is similar to the expense ratio charged by other AMCs for similar funds. The fund charges an exit load on the redemption of units. Such an exit load of 1% for units in excess of 10% of the investment is charged for any redemption within 12 months. However, there is no exit load if the redemption is done after 12 months.
Fund Manager – The fund is managed by Mr. Shreyash Devalkar. Mr. Devalkar has been Managing this fund since 23rd Nov 2016. He is the Senior Fund Manager of Equity at Axis Asset Mutual Funds. He possesses experience of over 17 years in capital markets. He has prior experience working with IDFC Securities Ltd., IDFC AMC, and BNP Paribas AMC.
Other Details – No lock-in period for the scheme and hence you can redeem your investment anytime. The AUM of Axis Midcap Cap Fund-Growth as of 28th June 2021 is Rs 11,835 cr. The fund benchmarks to S&P BSE Midcap TR INR. This fund is meant for a long-term minimum investment horizon of 10-15 years. Due to the asset class nature of the scheme, an investor may expect volatility over the short term.
1 Year Return
60.20%
3 Years Return
21.80%
5 Years Return
19.90%
10 Years Return
19.30%
Returns Updated as of 28th June 2021
Axis Midcap Cap Fund-Growth Top Stock Holdings
The Axis Midcap Cap Fund-Growth has invested its assets majorly in the stocks of the following companies:
Company
Percentage of Holding (As of 28th June 2021)
Clearing Corporation of India Limited
6.20%
Cholamandalam Investment and Finance Co Limited
5%
Voltas Limited SHS Dematerialised
3.90%
Astral Limited
3.70%
Coforge Limited SHS Dematerialised
3.40%
PI Industries Limited
3.40%
ICICI Bank Limited
3.30%
Crompton Greaves Consumer Electricals Limited
3%
Asset Allocation of Axis Midcap Cap Fund-Growth
The Axis Midcap Cap Fund-Growth has invested in the following sectors:
Sector
Percentage of Holding (As of 28th June 2021)
Financial Services
20.5%
Consumer Cyclical
16.5%
Technology
13.50%
Industrials
13.50%
Basic Materials
11.50%
Healthcare
7.70%
Consumer Defensive
5.10%
Axis Midcap Cap Fund-Growth Review
Scripbox recommends Axis Midcap Cap Fund-Growth for investment within a mid cap mutual fund category. Midcap mutual funds provide inflation-beating returns and growth over the long term. An investor who is looking for a long-term investment with the goal of wealth creation and capital appreciation may prefer the fund. Moreover, the recommended investment duration is 10-15 years or longer (minimum 5 years).
The fund has a sufficient history of 10 years for analysis. Track record is excellent.
With an AUM or relative size of Rs 11,835 cr, the fund is a leader in size within its category.
The historical performance of the scheme has been good so far. Moreover, the returns earned are similar to other funds in the same category of mutual funds.
How Scripbox Algorithmically Selects Mutual Funds?
Scripbox uses time-tested principles, historical data, and valid assumptions about asset classes. We combine them with a rigorous process to finalize which asset classes make the most sense for specific types of objectives, considering the time needed to achieve them.
Once we select an asset class, our algorithm goes to work to select the best financial products.
The algorithm scores financial products on multiple parameters, giving relevant weights to each of the listed parameters, such as:
Track record of the product – how long has it been around?
Assets under management – how big is it – for example, the size of a mutual fund
Liquidity – how easy is it to move in or out of the product?
Consistency of performance – how much have the returns fluctuated?
The risk associated with the product – what risks impact the product?
Quality of underlying assets – we assess how risky the underlying assets are – for example, by considering bond ratings in the case of debt funds
With such a scientific and detailed approach Scripbox ensures:
