Axis Mutual Fund Annual Report 2020-21

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Annual Report
2020-2021
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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.
Annual Report - 2020-2021
TRUSTEE REPORT
REPORT FROM AXIS MUTUAL FUND TRUSTEE LIMITED TO THE UNIT HOLDERS OF THE approach was driven on a fundamental research process to identify and invest in companies
SCHEMES OF AXIS MUTUAL FUND with high quality sustainable models over the medium to long term.
We have pleasure in presenting the Twelfth Annual Report of the schemes of Axis Mutual Fund for Axis Growth Opportunities Fund
the period ended March 31, 2021. The scheme is a large and midcap Scheme with a provision to invest up to 35% of the net
The assets under management of the schemes of Axis Mutual Fund as at March 31, 2021 was assets of the scheme in overseas securities. The investment approach is driven on a
` 192,245.34 crores and the average assets under management for the year ended March 31, fundamental research process to identify and invest in companies with high quality
2021 were ` 197,501.20 crores. The total number of investors’ folio count under the schemes of sustainable models over the medium to long term. The overseas investment portion of the
Axis Mutual Fund as at March 31, 2021 were 80,52,881. scheme is advised by Schroders and currently the scheme invests in US equities and
As of March 31, 2021, Axis Asset Management Company Ltd. managed 50 schemes of Axis depository receipts of companies domiciled in markets other than US and India. The scheme
Mutual Fund which includes: has outperformed its benchmark since inception but underperformed during the financial
year.
• 1 open ended equity linked savings scheme with 3 year lock-in (ELSS);
Axis ESG Equity Fund
• 8 open ended equity schemes;
The scheme is a thematic ESG focused Scheme with a provision to invest 35% of the net
• 1 open ended index fund; assets of the scheme in overseas securities. The investment approach is driven on a
• 6 open ended Hybrid scheme; fundamental ESG centric research process to identify and invest in companies with high
• 1 open ended liquid scheme; quality sustainable models over the medium to long term. The overseas investment portion of
• 1 open ended overnight scheme the scheme is advised by Schroders and currently the scheme has invested in global stocks.
The scheme has recently completed 1 year. The quality centric domestic and international
• 1 open ended gilt scheme; portfolio underperformed in the last year but its since inception performance against its
• 9 open ended debt schemes; benchmark has been positive.
• 4 open ended Exchange Traded Funds; Axis Special Situations Fund
• 4 open ended fund of fund scheme; The scheme aims to generate long-term capital appreciation by investing in mis-priced stocks
• 4 solution oriented schemes; facing special situations. The mis-pricing of stocks can occur due to companies facing
special situations like regulatory/policy changes, management restructuring, technology led
• 3 close ended equity scheme; and disruption and innovation or any temporary challenges in the operating environment. The
• 7 close ended debt schemes scheme was launched in the previous financial year and has underperformed its benchmark
1. SCHEME PERFORMANCE, FUTURE OUTLOOK AND OPERATIONS OF THE SCHEMES since inception.
A. Scheme Performance Axis Nifty 100 Index Fund
The Assets Under Management (“AUM”), the Net Asset Value (“NAV”) per unit and the The scheme is an index fund that aims to provide returns before expenses that closely
performance of the schemes vis-à-vis their benchmark for financial year period(s) ended correspond to the total returns of the Nifty 100 Index subject to tracking errors. The scheme
March 31, 2021 are given in Annexure - 1. performance commensurate with the performance of the index.
Brief Comments on Scheme performance: Axis Arbitrage Fund
Our scheme(s) have performed well on a relative basis amidst an uncertain and tough market The scheme has outperformed its benchmark over the last financial year and since inception.
environment. Both debt and equity markets had severe dislocations towards the end of the Heightened volatility during the course of the year has aided the category both in terms of
year on the back of Covid virus related lock down fears. On the debt side, our scheme(s) returns and AUM collection.
sidestepped several pitfalls through prudent risk management and a strong credit appraisal Axis Equity Hybrid Fund
system. The scheme is an aggressive hybrid fund. The equity portion of the scheme is Large cap
Axis Long Term Equity Fund biased and best ideas strategy with a bottom up approach to investing. The portfolio is a
The scheme has underperformed its benchmark over the past financial year. The general compact portfolio of quality stocks that offer long-term sustainable growth opportunities
trend of the market in the Covid induced V-Shaped rally was a function of beta heavy with a competitive market advantage. The debt portion is dynamically managed across
companies which as an investment philosophy are avoided at Axis MF. The portfolio aims to duration and the credit spectrum. The scheme follows an active investment strategy that
build long term wealth driven by fundamental research and aim to identify long term secular aims to generate absolute returns with an endeavor to capture opportunities across interest
growth prospects. The scheme looks for sustainable business models with good rate cycles by actively managing the duration and credit allocation of the scheme’s portfolio.
management, market leadership and scalability in business model. Risk assessment is an The scheme has outperformed its benchmark since inception but has underperformed during
integral part of selection of a company as part of the portfolio. Since inception the scheme the last financial year.
has consistently outperformed its benchmark. Axis Triple Advantage Fund
Axis Bluechip Fund The scheme has outperformed the benchmark in the last financial year, which again brought
The scheme has underperformed its benchmark over the past financial year. The out the importance of asset allocation that is provided by this scheme. Performance of the
performance since inception reflects the long term nature of the portfolio philosophy and the plans of the scheme is different to the extent of the difference in expense ratios. The scheme
portfolio construction process. The schemes’ investments were driven by fundamental has outperformed the benchmark during last one year but underperformed since inception.
research approach and stock selection was on a bottom’s up basis. Since inception the Axis Dynamic Equity Fund
scheme has consistently outperformed its benchmark. The scheme aims to have a dynamic equity allocation based on an in-house built quantitative
Axis Midcap Fund model. The model uses a 3-pillar approach that considers the valuation, trend and risk of the
Midcap stocks have seen a significant retracement this year. In that context, the scheme has market. The model helps the scheme in arriving at the dynamic allocation on a non-subjective
remained conservative in its approach for the year given the sharp falls seen in many low basis. While this approach is likely to lag the equity market during a sharp rally, it should
quality midcap stocks. For the year scheme underperformed as compared to its benchmarks. allow the scheme to reduce drawdowns during periods of turmoil and thus can help deliver
It however has outperformed its benchmark since inception. The Investment approach is reasonable equity exposure with sharply lower risk over a cycle. The scheme has recently
based on a fundamental research process. The portfolio targets to invest in high quality amended its investment strategy as part of a wider fundamental attribute changes to
business with scalable and sustainable models with the underlying philosophy, “Today’s provide necessary flexibility to the fund manager as a learning from the Covid induced
Midcap, Tomorrow’s leader”. volatility over the last year.
Axis Focused 25 Fund The scheme has underperformed over the last year as well as since inception.
The scheme has underperformed its benchmark over the past financial year. The scheme has Axis Equity Saver Fund
an actively managed portfolio and invests in up to 25 stocks. The scheme uses a The scheme seeks to provide capital appreciation and income distribution by using equity and
fundamental research process to identify and invest in companies with high quality equity related instruments, arbitrage opportunities and debt and money market instruments.
sustainable models over the medium to long term. This quality focused approach to investing The scheme has outperformed the benchmark in the last financial year. However, the
has rewarded investors since inception and is evident by the since inception outperformance scheme has underperformed its benchmark since inception.
of the scheme v/s the scheme benchmark. Axis Regular Saver Fund
Axis Flexicap Fund (Erstwhile Axis Multicap Fund) The scheme invests largely in short term debt and a mix of large and mid-cap equities. The
The scheme has underperformed its benchmark in the last financial year. The scheme looks scheme maintained relatively stable maturity profile. Performances of the plans of the
to invest in companies that are at their inflection points such as market share gain, industry schemes are different to the extent of the difference in expense ratios. The scheme has
consolidation, sunrise industries, improved management focus and capital allocation or underperformed the benchmark in the last financial year and since inception.
regulatory & policy changes. The scheme looks for such opportunities across market cap Axis Liquid Fund
range. The longer term track record of the scheme highlights the benefits if this strategy. The
scheme has outperformed its benchmark since inception. The scheme is a high liquidity investment solution that provides reasonable returns with low
risk through a portfolio of money market and debt securities. The scheme has maintained its
Axis Small Cap Fund portfolio strategy of low volatility and high quality during the course of the year. The scheme
The scheme has outperformed its benchmark since inception. The last financial year saw a has underperformed on a 1 year but outperformed since inception basis. Performances of the
beta driven broad based rally which is contrary to the scheme investment philosophy and as a plans of the scheme are different to the extent of the difference in expense ratios.
result the scheme underperformed during the year v/s its benchmark. The investment
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TRUSTEE REPORT (Contd.)

Axis Overnight Fund Axis Technology ETF
The scheme aims to provide reasonable returns commensurate with very low interest rate The scheme is an exchange traded fund that aims to provide returns before expenses that
risk and providing a high level of liquidity, through investments made primarily in overnight closely correspond to the total returns of the Nifty IT Index subject to tracking errors and the
securities having maturity/residual maturity of 1 business day. The scheme has scheme has performed in line with the objective of the scheme. The scheme was launched in
underperformed the benchmark in the last financial year and since inception. the previous financial year.
Axis Gilt Fund Axis Gold Fund
The scheme aims to generate credit risk-free returns through investments in sovereign The scheme aims to deliver returns consistent with returns on gold by investing in Axis Gold
securities issued by the Central Government and/or State Government. The fund manager ETF subject to tracking errors and the scheme has performed in line with the objective of the
strives to enhance portfolio returns by actively managing interest rate risks arising due to scheme.
market volatility. The scheme has outperformed its benchmark over the last 1 year and Axis All Seasons Debt Fund of Funds
underperformed since inception.
The scheme is a fund of fund structure investing in a mix of duration and credit portfolios
Axis Dynamic Bond Fund within the domestic mutual fund industry. The aim is to provide investors with a
The Scheme aims to generate optimal returns while maintaining liquidity through active professionally managed one stop debt portfolio from across the industry in a tax efficient
management of a portfolio of debt and money market instruments. Over the course of the manner. The scheme has underperformed its benchmark over the last year as well as since
last financial year, the scheme’s portfolio was rejigged to allocate to 10-year AAA corporate inception.
bonds. The scheme underperformed its benchmark during the year given the rising rate Axis Global Equity Alpha Fund of Fund
environment but The scheme has outperformed since inception given the longer term view of
the investment strategy. The scheme aims to deliver returns consistent with returns of the Schroders ISF Global
Alpha. The scheme was launched in the previous financial year and has underperformed its
Axis Ultra Short Term Fund benchmark since inception.
The scheme is a short term solution to park funds in a portfolio which endeavors to offer a Axis Greater China Equity Fund of Fund
portfolio with lower volatility and higher carry. The scheme is ideal for investors with an
investment horizon of 3-6 months. The scheme predominantly invests in a mix of corporate The scheme aims to deliver returns consistent with returns of the Schroders ISF Greater
bonds (50%+) and money market instruments. The scheme has underperformed the China. The scheme was launched in the previous financial year and has underperformed its
benchmark in the last financial year and since inception. benchmark since inception.
Axis Treasury Advantage Fund Axis Children’s Gift Fund
The scheme aims to provide optimal returns and liquidity to the investors by investing The scheme is an open-ended children focused solution oriented scheme that seeks to
primarily in a mix of money market and short term debt instruments which results in a generate income by investing in debt & money market instruments along with long-term
portfolio having marginally higher maturity as compared to a liquid Scheme at the same time capital appreciation through investments in equity & equity related instruments. The scheme
maintaining a balance between safety and liquidity. Performances of the plans of the scheme has matched its benchmark during the last financial year and since inception.
are different to the extent of the difference in expense ratios. The scheme has outperformed Axis Retirement Savings Fund – Aggressive Plan
the benchmark in the last financial year but underperformed since inception. The investment objective of the Investment Plan(s) under the Scheme is to provide long-term
Axis Short Term Fund capital appreciation / income by investing in a mix of equity, debt and other instruments to
The scheme maintains a high quality portfolio that is focused on highly rated issuers. The help investors meet their retirement goals.
scheme underperformed its benchmark during the year. Performances of plans of the scheme The plan objective is to generate capital appreciation by predominantly investing in equity
are different to the extent of the difference in expense ratios. The scheme has and equity related instruments. The Investment Plan may also invest in debt and money
underperformed in one year period and since inception. market instruments, units of Gold ETF or units of REITs & InvITs for income generation /
Axis Money Market Fund wealth creation. The scheme has underperformed its benchmark over the last year as well as
since inception.
The objective of the scheme is to generate regular income through investment in a portfolio
comprising of money market instruments. The portfolio is actively managed to benefit from Axis Retirement Savings Fund – Dynamic Plan
the opportunity in the money markets. The scheme has outperformed on a 1-year basis and The investment objective of the Investment Plan(s) under the Scheme is to provide long-term
since inception. capital appreciation / income by investing in a mix of equity, debt and other instruments to
Axis Banking & PSU Debt Fund help investors meet their retirement goals.
The scheme invests in debt and money market instruments issued by Banks, Public Sector The Investment Plan has a dual objective of generating capital appreciation by investing in
Units (PSUs) & Public Financial Institutions (PFIs). As such it maintains a high quality and low equity and equity related securities as well as generating income by investing in debt and
duration relative to its benchmark. Performances of the plans of the scheme are different to money market securities, while attempting to manage risk from the market through active
the extent of the difference in expense ratios. The scheme has matched the benchmark in the asset allocation. The Investment Plan may also invest in units of Gold ETF or units of REITs &
last financial year and outperformed since inception. InvITs for income generation / wealth creation. The scheme has underperformed the
benchmark in the last financial year but outperformed since inception.
Axis Corporate Debt Fund
Axis Retirement Savings Fund – Conservative Plan
The scheme seeks to provide steady income and capital appreciation by investing primarily in
corporate debt instruments. Performances of the plans of the schemes are different to the The investment objective of the Investment Plan(s) under the Scheme is to provide long-term
extent of the difference in expense ratios. The scheme has underperformed the benchmark in capital appreciation / income by investing in a mix of equity, debt and other instruments to
the last financial year and since inception. help investors meet their retirement goals.
Axis Strategic Bond Fund To generate regular income through investments predominantly in debt and money market
instruments and to generate long term capital appreciation by investing certain portion of the
The scheme combines allocation to a diversified corporate bond portfolio with active portfolio in equity and equity related securities. The Investment Plan may also invest in units
management of the duration using government securities and high quality AAA corporate of Gold ETF or units of REITs & InvITs for income generation / wealth creation. The scheme
bonds. The challenges in the corporate credit environment in the last financial year affected has underperformed the benchmark in the last financial year but outperformed since
the scheme. The scheme underperformed its benchmark during the year and since inception. inception.
Axis Credit Risk Fund Axis Capital Builder Fund – Series 1
The mandate of the scheme is to invest bulk of its portfolio in good quality lower rated issuers The scheme is a close ended multicap Scheme with high quality portfolio whose underlying
based on detailed credit quality assessment by the AMC. Within that mandate, the scheme growth metrics are higher than the metrics of the scheme benchmark. The portfolio is divided
invests in a mix of government and high quality corporate bonds across the yield curve and equally between large cap stocks and mid & small caps stocks to provide adequate market
credit spectrum while maintaining an overall short duration profile. The challenges in the cap diversification. The scheme has underperformed its benchmarks over the last financial
corporate credit environment in the last financial year affected the scheme. The scheme has year as well as since inception .
underperformed the scheme benchmark during the year and since inception.
Axis Capital Builder Fund – Series 4
Axis Nifty ETF
The scheme aims to generate income and long term capital appreciation by investing in a
The scheme is an exchange traded fund that aims to provide returns before expenses that diversified portfolio of equity & equity related instruments across market capitalization. The
closely correspond to the total returns of the Nifty 50 Index subject to tracking errors and scheme may also use derivative strategies to manage volatility dynamically. The scheme has
the scheme has performed in line with the objective of the scheme. underperformed its benchmarks over the last financial year as well as since inception.
Axis Gold ETF Axis Equity Advantage Fund – Series 1
The scheme aims to deliver returns consistent with returns on gold and is invested largely in The scheme invests in a diversified portfolio of equity & equity related instruments. It also
gold subject to tracking errors and the scheme has performed in line with the objective of the aims to manage risk through use of active hedging techniques. The scheme have
scheme. underperformed its benchmarks over the last financial year as well as since inception.
Axis Banking ETF Axis Fixed Term Plan – Series 95, 96, 97, 100, 101, 102, 104
The scheme is an exchange traded fund that aims to provide returns before expenses that The various series were invested in line with their investment objectives. The schemes are
closely correspond to the total returns of the Nifty Bank Index subject to tracking errors and passively managed and performance comparison with benchmark is not appropriate in these
the scheme has performed in line with the objective of the scheme. The scheme was cases.
launched in the previous financial year.
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Note: Axis Equity Advantage Fund – Series 2, Axis Emerging Opportunities Fund - Series 1 & With credit risk coming to the fore once again, it has again highlighted that debt funds are not
2 & Axis Hybrid Fund – Series 5,6,7, 31,32, 33 and 35 have matured during the financial risk free investments and investors should heed caution while investing in relatively high risk
year 2020-21 high reward debt products.
B. Operations of the Schemes At Axis AMC, we believe that the key to navigating the tough market environment would be
Axis Mutual Fund (‘Axis MF’) has been focused on taking big strides on digital front. We to remain completely focused on our investment process which targets maintaining portfolio
continued on a strong growth trajectory with respect to Digital Sales and Service. Following quality and risk-adjusted-returns.
major initiatives were executed: As always, our prudent investment norms and strong risk mitigation framework form the
Digital experience Platform (DXP): Envisaged and built a Digital experience Layer (DXP) bedrock of all our credit evaluation.
which forms the backbone of all digital channels. Created using micro-services based 2. BRIEF BACKGROUND OF SPONSORS, FUND, THE TRUSTEE COMPANY AND AMC
middleware, this DXP services all the channels of digital interaction between Axis Mutual a. Axis Mutual Fund
Fund and end users. This enables faster on boarding of new features across channels & new
channels too. This uses a lot of reusable components from technology perspective and thus Axis Mutual Fund (‘the Mutual Fund’/ ‘the Fund’) was set up as a Trust by the Settlor, Axis
reducing the cost incurred and Time to Market (TTM). We have on boarded our new B2C App Bank Limited (‘Axis Bank’) on June 27, 2009 with Axis Mutual Fund Trustee Limited (‘the
on to this platform already. We are working towards getting our other channels (Website, Trustee Company’) as a Trustee in accordance with the provisions of the Indian Trust Act,
B2B etc.) also onto DXP. 1882 and is duly registered under the Indian Registration Act, 1908. The Trustee has
entered into an Investment Management Agreement dated June 27, 2009 with Axis Asset
B2C Website: Launched a revamped Investor website (www.axismf.com) with DXP serving Management Company Limited (‘Axis AMC’/’the AMC’) to function as the Investment
as the middleware layer. This website is built to act as one-stop-destination for investors Manager for all the schemes of the Fund. The Fund was registered with SEBI on September
existing and New to Axis Mutual Fund. They can explore funds, transact, track their portfolio 4, 2009 vide registration No. MF/061/09/02.
& reach out to us through the App. It is also an easy repository for all regulatory documents
and Knowledge enhancing articles for investors – and hosts engaging marketing b. Axis Mutual Fund Trustee Limited
campaigns/activities. We have a clear roadmap to enhance our digital assets to meet the (Including Liabilities & Responsibilities)
expectations of the new age digital users. The Trustee is the exclusive owner of the Fund and holds the same in trust for the benefit of
C. Future Outlook the unitholders. The Trustee has been discharging its duties and carrying out the
Summary and Background responsibilities as provided in the Regulations and the Deed of Trust. The Trustee seeks to
ensure that the Fund and the schemes floated thereunder are managed by the AMC in
Indian economy and markets have had a tough last couple of years. Just as the economy was accordance with the Deed of Trust, the Regulations, directions and guidelines issued by the
showing signs of overcoming the slowdown which was deep and hurt consumers across SEBI, the Stock Exchanges, the Association of Mutual Funds in India and other regulatory
segments it was laid low by the Covid-19 related lock down. The challenge has been agencies. The main responsibility of the Trustee is to safeguard the interest of the Unit
worsened by the global nature of the shock. Further there is limited fiscal space available to holders.
the government to take aggressive steps to overcome the disruption. However, the RBI has
been aggressive in taking steps to ensure that the impact to the financial sector is managed c. Sponsor
smoothly. While the near term outlook remains extremely uncertain, over the medium term Axis Mutual Fund is sponsored by Axis Bank Limited (“Axis Bank”). The Sponsor is the Settlor
we expect things to slowly start normalising. of the Mutual Fund Trust. The Sponsor has entrusted a sum of ` 1,00,000/- (` One Lakh
Equity outlook only) to Axis Mutual Fund Trustee Limited as the initial contribution towards the corpus of
the Fund.
Financial Year 2021 can be characterized as a year of transition, a year of pain, a year of
disruption and a year of recovery. The year was one where markets changed fortunes. From Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire
a grim March to a euphoric January, equity markets have been on a rollercoaster ride – a spectrum of financial services to customer segments covering Large and Mid-Corporates,
reminder that Equities are a volatile yet rewarding asset class. MSME, Agriculture and Retail Businesses.
For the financial year 2020-21, the top performing sectors where materials & consumer Axis Bank is one of the first new generation private sector banks to have begun operations in
discretionary while laggards include consumer staples, utilities & Telecom. The 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of
outperformance in part was driven by the resurgence in the commodity cycle and the India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC),
relatively inexpensive valuations as companies focused on cost optimizations and paring General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New
down high cost debt. As of March 31st 2021, ~85% of S&P BSE 200 stocks trade above India Assurance Company Ltd., The Oriental Insurance Company Ltd. And United India
their respective 200-day moving averages. Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently
transferred to SUUTI, an entity established in 2003.
The markets have begun to take stock of the year ahead as several key positives are likely to
pave the way for the markets in the coming year. At a macro level, interest rates are at 15 The Bank has a large footprint of 4,594 domestic branches (including extension counters)
year lows as banks continue to offer favorable low cost rates to borrowers at close to with 11,333 ATMs & 5,710 cash recyclers spread across the country as on 31st March,
market levels. Banks have led the charge in providing affordable credit, specially to stressed 2021. The Bank’s Axis Virtual Centre channel expanded during the year from three centres
sectors like real estate and manufacturing companies which have significantly benefitted to six centres and had over 1500 Virtual Relationship Managers as on 31st March 2021.
and improved the outlook for such companies over the last 12 months. The overseas operations of the Bank are consolidated through branches in Dubai, Singapore
and Gift City, India. The international offices focus on corporate lending, trade finance,
Another big positive is the corporate debt to GDP at a 12-year low. Barring F2012-13, the syndication, investment banking and liability businesses.
growth in corporate credit has been decelerating for 12 years, implying that the deleveraging
process is largely complete. In terms of signs of recovery, we are seeing that corporate d. Axis Asset Management Company Limited
revenue growth is picking up quickly from pandemic lows, and that should aid in improving Axis Asset Management Company Limited (‘Axis AMC’) is a public limited company
the fundamentals. As we invest for what looks like the cusp of a new growth cycle, incorporated under the Companies Act, 1956 on January 13, 2009, having its registered
companies with healthy balance sheets are ideally positioned to benefit from growth office at Axis House, 1st Floor, C-2, Wadia International Centre, Pandurang Budhkar Marg,
opportunities as the economy recovers Worli, Mumbai – 400025. Axis AMC has been appointed as the Investment Manager of the
The beta rally over the last 6-9 months is reflective of normalizing prices across several Mutual Fund by the Trustee Company vide Investment Management Agreement dated June
beaten down names. While we have participated in a few names selectively, the core portion 27, 2009 and executed between the Trustee Company and the AMC.
of our portfolio consists of companies that emphasize quality which we continue to hold on Axis Bank Limited holds 75% (less one share) of the total issued and paid up equity share
to. This momentary underperformance is not reflective of the longer term compounding capital of Axis AMC and the balance 25% plus one equity share has been acquired by
stories that we typically look to play as long term investors. The hallmark of our investment Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned
philosophy is the endeavor to identify consistent long term growth and our portfolios are subsidiary, Schroders Singapore Holdings Private Limited (SSHPL), a subsidiary of Schroders
positioned accordingly. PLC. , the ultimate holding company of Schroders Group, is among the 100 largest
The resurgence of Covid 19 and the possible “2nd wave” has put into question the ability of companies listed on the London Stock Exchange and has a history of over 200 years.
businesses to return to normalcy on a sustained basis. The financial sector has seen a wave Schroders Group is a leading international asset management group managing various asset
of pessimism as investors fear a new wave of bad loans. Given that our portfolios hold classes.
significant stakes in many large banks & NBFC’s, this has led to short term Axis AMC has obtained Certificate of Registration as Portfolio Manager under the SEBI
underperformance. While there is a near term risk, we do not expect it to significantly affect (Portfolio Managers) Regulations, 1993 vide registration no. INP000003534 with effect
the health of our portfolio companies. Capital adequacy ratios and steadfast risk from January 04, 2010, which was subsequently renewed. There is no conflict of interest
management policies have been hallmarks of these companies and this has rewarded between the Mutual Fund and the PMS activity.
investors in the long term. Axis AMC has signed agreement(s) with offshore fund manager(s) to provide Non-binding
Debt Market Outlook Advisory and related services in respect of offshore fund(s) investing in India. SEBI has vide
The challenges caused by Covid-19 impacted the debt markets as well, as we saw severe its letter dated January 10, 2013, accorded it‘s no objection to the AMC for undertaking
dislocations closer to the fiscal year-end. Active steps by RBI have helped restore some non-binding investment advisory and other related services.
balance to the markets although investor sentiment remained a bit nervous. The AMC also acts as the Investment Manager to Axis Alternative Investment Fund –
The path for markets will be driven by the way forward on the lock down and how quickly the Category II (“AIF”), registered with SEBI vide registration no. IN/AIF2/17-18/0512 dated
economy can normalize. The dislocations are also putting a spotlight on credit funds after January 19, 2018 and Axis Alternative Investment Fund – Category III, registered with SEBI
what has been a tough year for these on account of a number of credit events. vide registration no. IN/AIF3/18-19/0628 dated December 13, 2018 under SEBI (Alternative
Investment Funds) Regulations, 2012.
5

3. INVESTMENT OBJECTIVES OF THE SCHEMES
Sr. No. Name of the Scheme Investment Objective
1. Axis Long Term Equity Fund (An open ended equity linked savings To generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and
scheme with a statutory lock in of 3 years and tax benefit) equity-related Securities.
2. Axis Bluechip Fund (An open ended equity scheme predominantly To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of
investing in large cap stocks) equity and equity related securities including derivatives.
3. Axis Midcap Fund (An open ended equity scheme predominantly To achieve long term capital appreciation by investing predominantly in equity & equity related instruments of
investing in Mid Cap stocks) Mid Cap companies.
4. Axis Focused 25 Fund (An open ended equity scheme investing in To generate long term capital appreciation by investing in a concentrated portfolio of equity & equity related
maximum 25 stocks investing in large cap, mid cap and small cap instruments of up to 25 companies.
companies)
5. Axis Flexi Cap Fund (An open ended dynamic equity scheme To generate long term capital appreciation by investing in a dynamic mix of equity and equity related
investing across large cap, mid cap, small cap stocks) instruments across market capitalizations.
6. Axis Small Cap Fund (An open ended equity scheme To generate long-term capital appreciation from a diversified portfolio of predominantly equity & equity related
predominantly investing in small cap stocks) instruments of small cap companies.
7. Axis Growth Opportunities Fund (An Open-ended Equity Scheme To generate long term capital appreciation by investing in a diversified portfolio of Equity & Equity Related
investing in both large cap and mid cap stocks) Instruments both in India as well as overseas.
8. Axis ESG Equity Fund (An Open ended equity scheme investing in To generate long term capital appreciation by investing in a diversified portfolio of companies demonstrating
companies demonstrating sustainable practices across sustainable practices across Environmental, Social and Governance (ESG) parameters.
Environment, Social and Governance (ESG) theme)
9. Axis Special Situations Fund (An open ended equity scheme To generate long-term capital appreciation by investing in mis-priced stocks facing special situations. The mis-
following special situations theme) pricing of stocks can occur due to companies facing special situations like regulatory/policy changes,
management restructuring, technology led disruption and innovation or any temporary challenges in the
operating environment.
10. Axis NIFTY 100 Index Fund (An Open Ended Index Fund tracking To provide returns before expenses that closely corresponds to the total returns of the NIFTY 100 subject to
the NIFTY 100 Index) tracking errors.
11. Axis Arbitrage Fund (An open ended scheme investing in arbitrage To generate income through low volatility absolute return strategies that take advantage of opportunities in the
opportunities) 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.
12. Axis Equity Hybrid Fund (An open ended hybrid scheme investing To generate long term capital appreciation along with current income by investing in a mix of Equity and Equity
predominantly in equity and equity related instruments) related Instruments, debt Instruments and money market instruments.
13. Axis Triple Advantage Fund (An open ended scheme investing in To generate long term capital appreciation by investing in a diversified portfolio of equity and equity related
equity, debt and gold) instruments, fixed income instruments & gold Exchange Traded Funds.
14. Axis Dynamic Equity Fund (An open ended dynamic asset To generate capital appreciation by investing in a portfolio of equity or equity linked securities while secondary
allocation fund) objective is to generate income through investments in debt and money market instruments. It also aims to
manage risk through active asset allocation.
15. Axis Equity Saver Fund (An open ended scheme investing in To provide capital appreciation and income distribution to the investors by using equity and equity related
equity, arbitrage and debt) instruments, arbitrage opportunities, and investments in debt and money market instruments.
16. Axis Regular Saver Fund (An open ended hybrid scheme investing The Scheme seeks to generate regular income through investments in debt & money market instruments, along
predominantly in debt instruments) with capital appreciation through limited exposure to equity and equity related instruments.
17. Axis Liquid Fund (An Open ended Liquid Scheme) To provide a high level of liquidity with reasonable returns commensurate with low risk through a portfolio of
money market and debt securities.
18. Axis Overnight Fund (An open ended debt scheme investing in The investment objective of the Scheme is to provide reasonable returns commensurate with very low interest
overnight securities) rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having
maturity/residual maturity of 1 business day.
19. Axis Gilt Fund (An open ended debt scheme investing in The Scheme will aim to generate credit risk-free returns through investments in sovereign securities issued by
government securities across maturity) the Central Government and/or State Government.
20. Axis Dynamic Bond Fund (An open ended dynamic debt scheme To generate optimal returns while maintaining liquidity through active management of a portfolio of debt and
investing across duration) money market instruments.
21. Axis Ultra Short Term Fund (An open ended ultra-short term debt The investment objective of the Scheme is to generate regular income and capital appreciation by investing in a
scheme investing in instruments such that the Macaulay duration portfolio of short term debt and money market instruments with relatively lower interest rate risk such that
of the portfolio is between 3 months and 6 months) Macaulay duration of the portfolio is between 3 months and 6 months.
22. Axis Treasury Advantage Fund (An open ended low duration debt To provide optimal returns and liquidity to the Investors by investing primarily in a mix of money market and
scheme investing in instruments such that the Macaulay duration short term debt instruments which results in a portfolio having marginally higher maturity as compared to a
of the portfolio is between 6 to 12 months) liquid fund at the same time maintaining a balance between safety and liquidity.
23. Axis Short Term Fund (An open ended short term debt scheme To generate stable returns with a low risk strategy while maintaining liquidity through a portfolio comprising of
investing in instruments such that the Macaulay duration of the debt and money market instruments.
portfolio is between 1 year to 3 years)
24. Axis Money Market Fund (An open ended debt scheme investing To generate regular income through investment in a portfolio comprising of money market instruments.
in money market instruments)
6

3. INVESTMENT OBJECTIVES OF THE SCHEMES (CONTD.)
Sr. No. Name of the Scheme Investment Objective
25. Axis Banking & PSU Debt Fund (An open ended debt scheme To generate stable returns by investing predominantly in debt & money market instruments issued by Banks,
predominantly investing in debt instruments of Banks, Public Public Sector Units (PSUs) & Public Financial Institutions (PFIs). The Scheme shall endeavor to generate
Sector Undertakings & Public Financial Institutions) optimum returns with low credit risk.
26. Axis Corporate Debt Fund (An open ended debt scheme The Scheme seeks to provide steady income and capital appreciation by investing in corporate debt.
predominantly investing in AA+ and above rated corporate
bonds)
27. Axis Strategic Bond Fund (An open ended medium term debt To generate optimal returns in the medium term while maintaining liquidity of the portfolio by investing in debt
scheme investing in instruments such that the Macaulay duration and money market instruments.
of the portfolio is between 3 years to 4 years)
28. Axis Credit Risk Fund (An open ended debt scheme predominantly To generate stable returns by investing in debt & money market instruments across the yield curve & credit
investing in AA and below rated corporate bonds (excluding AA+ spectrum.
rated corporate bonds))
29. Axis Nifty ETF (An open ended Scheme replicating/ tracking Nifty The investment objective of the Scheme is to provide returns before expenses that closely correspond to the
50 Index) total returns of the Nifty 50 Index subject to tracking errors.
30. Axis Gold ETF (An open ended scheme replicating/tracking To generate returns that are in line with the performance of gold.
Domestic Price of Gold)
31. Axis Banking ETF (An Open Ended scheme replicating / tracking The investment objective of the Scheme is to provide returns before expenses that closely correspond to the
NIFTY Bank Index) total returns of the NIFTY Bank Index subject to tracking errors.
32. Axis Technology ETF (An Open Ended Exchange Traded Fund To provide returns before expenses that closely correspond to the total returns of the NIFTY IT Index subject to
tracking NIFTY IT Index) tracking errors.
33 Axis Gold Fund (An open ended fund of fund scheme investing in To generate returns that closely correspond to returns generated by Axis Gold ETF.
Axis Gold ETF)
34. Axis All Seasons Debt Fund of Funds (An open ended fund of To generate optimal returns over medium term by investing primarily in debt oriented mutual fund schemes.
funds scheme investing in debt oriented mutual fund schemes)
35. Axis Global Equity Alpha Fund of Fund (An open ended fund of To provide long term capital appreciation by predominantly investing in Schroder International Selection Fund
fund scheme investing in Schroder International Selection Fund Global Equity Alpha, a fund that aims to provide capital growth by investing in equity and equity related
Global Equity Alpha) securities of companies worldwide. The Scheme may also invest a part of corpus in debt, money market
instruments and / or units of liquid schemes in order to meet liquidity requirements from time to time.
36. Axis Greater China Equity Fund of Fund (An open ended fund of To provide long term capital appreciation by predominantly investing in units of Schroder International Selection
fund scheme investing in Schroder International Selection Fund Fund Greater China, a fund that aims to provide capital growth by investing in equity and equity related
Greater China) securities of People's Republic of China, Hong Kong SAR and Taiwan companies. The Scheme may also invest a
part of its corpus in debt, money market instruments and / or units of liquid schemes in order to meet liquidity
requirements from time to time.
37. Axis Children’s Gift Fund (An open ended fund for investment for To generate income by investing in debt & money market instruments along with long-term capital appreciation
children, having a lock-in of 5 years or till the child attains age of through investments in equity & equity related instruments.
majority (whichever is earlier))
38. Axis Retirement Savings Fund – Aggressive Plan (An open-ended To generate capital appreciation by predominantly investing in equity and equity related instruments. The
retirement solution oriented scheme having a lock-in of 5 years or Investment Plan may also invest in debt and money market instruments, units of Gold ETF or units of REITs &
till retirement age (whichever is earlier)). InvITs for income generation / wealth creation.
39. Axis Retirement Savings Fund – Dynamic Plan (An open-ended The Investment Plan has a dual objective of generating capital appreciation by investing in equity and equity
retirement solution oriented scheme having a lock-in of 5 years or related securities as well as generating income by investing in debt and money market securities, while
till retirement age (whichever is earlier)). attempting to manage risk from the market through active asset allocation.
The Investment Plan may also invest in units of Gold ETF or units of REITs & InvITs for income generation /
wealth creation.
40. Axis Retirement Savings Fund – Conservative Plan (An open- To generate regular income through investments predominantly in debt and money market instruments and to
ended retirement solution oriented scheme having a lock-in of 5 generate long term capital appreciation by investing certain portion of the portfolio in equity and equity related
years or till retirement age (whichever is earlier)). securities.
The Investment Plan may also invest in units of Gold ETF or units of REITs & InvITs for income generation /
wealth creation.
41. Axis Capital Builder Fund - Series 1 & 4 (A Close ended equity To generate income and long term capital appreciation by investing in a diversified portfolio of equity & equity
scheme investing across large cap, mid cap and small cap stocks) related instruments across market capitalization.
42. Axis Equity Advantage Fund - Series 1 (A Close ended equity To generate capital appreciation over medium to long-term from a diversified portfolio of predominantly equity &
scheme) equity related instruments. It also aims to manage risk through use of active hedging techniques.
43. Axis Fixed Term Plan – Series 95, 96, 97, 100, 101, 102, 104 To generate returns through a portfolio of debt & money market instruments that are maturing on or before the
Close ended debt scheme(s) maturity of the respective Scheme(s).
Note: Investment objectives of all the above Scheme(s) includes: However, there can be no assurance that the investment objective of the Scheme will be achieved.
4. Significant Accounting Policies
Accounting policies are in accordance with Securities Exchange Board of India (Mutual Funds) Regulations, 1996. Summary of significant account policies is disclosed in Financial Statements of the
schemes.
7

5. Unclaimed Dividends and Redemptions
Summary of no. of investors and corresponding amount as at March 31, 2021:
Name of Scheme Unclaimed Redemption Unclaimed Dividend
No. of Investors Amount No. of Investors Amount
(` In Thousands) (` In Thousands)
Axis Banking & PSU Debt Fund 11 110.49 2 5.19
Axis Children's Gift Fund 8 457.71 - -
Axis Corporate Debt Fund 11 5.62 24 0.66
Axis Capital Protection Oriented Fund - Series 1 18 641.95 - -
Axis Capital Protection Oriented Fund-Series 2 18 195.93 - -
Axis Capital Protection Oriented Fund-Series 3 23 1,046.22 - -
Axis Capital Protection Oriented Fund-Series 4 7 631.48 - -
Axis Capital Protection Oriented Fund-Series 5 35 6,695.46 - -
Axis Dynamic Bond Fund 18 643.53 14 23.61
Axis Dynamic Equity Fund 59 3,312.70 38 374.27
Axis Arbitrage Fund 23 106.36 42 44.33
Axis Equity Hybrid Fund 38 2,008.34 9 5.17
Axis Emerging Opportunities Fund - Series 1 (1400 Days) 299 93,158.98 36 793.17
Axis Emerging Opportunities Fund - Series 2 (1400 Days) 687 2,16,054.53 166 3,105.29
Axis Bluechip Fund 2,605 23,670.44 1,024 6,742.84
Axis Equity Saver Fund 18 344.00 105 419.97
Axis ESG Equity Fund 7 1,010.43 - -
Axis Focused 25 Fund 842 8,675.96 129 1,787.16
Axis Global Equity Alpha Fund of Fund 4 535.23 - -
Axis Gold Fund 148 1,444.96 - -
Axis Growth Opportunities Fund 26 595.10 - -
Axis Hybrid Fund - Series 11(42 Months) 57 8,571.04 - -
Axis Hybrid Fund - Series 12(1282 Days) 82 9,455.89 - -
Axis Hybrid Fund - Series 13 (1275 Days) 77 10,140.89 - -
Axis Hybrid Fund Series 15 (1275 Days) 54 10,828.16 - -
Axis Hybrid Fund Series 18 (42 Months) 77 9,918.03 - -
Axis Hybrid Fund Series 19 (42 Months) 59 10,443.86 - -
Axis Hybrid Fund Series-23 (1275 Days) 73 9,676.48 - -
Axis Hybrid Fund - Series 1 20 765.74 - -
Axis Hybrid Fund - Series 2 30 2,747.87 - -
Axis Strategic Bond Fund 7 282.18 7 13.66
Axis Credit Risk Fund 20 1,060.65 9 45.48
Axis Regular Saver Fund 48 1,641.38 209 1,308.71
Axis Liquid Fund 272 9,779.15 11 49.15
Axis Gilt Fund 7 2.72 6 67.18
Axis Midcap Fund 512 3,850.03 84 1,004.73
Axis Flexi Cap Fund 133 3,606.89 117 1,956.51
Axis Money Market Fund 1 33.64 1 -
Axis Nifty 100 Index Fund 9 87.94 - -
Axis Overnight Fund 5 515.28 2 0.07
Axis Fixed Term Plan Series 41 (546 days) 1 6.52 - -
Axis Fixed Term Plan Series 59 (391 Days) 1 62.61 - -
Axis Fixed Term Plan - Series 61 (1122 Days) 2 3,813.09 - -
8

5. Unclaimed Dividends and Redemptions (Contd.)
Summary of no. of investors and corresponding amount as at March 31, 2021:
Name of Scheme Unclaimed Redemption Unclaimed Dividend
No. of Investors Amount No. of Investors Amount
(` In Thousands) (` In Thousands)
Axis Fixed Term Plan Series 63 (91 Days) - - 1 0.11
Axis Fixed Term Plan - Series 74 (1105 days) - - 1 1.05
Axis Small Cap Fund 169 1,027.92 93 2,353.65
Axis Short Term Fund 52 291.19 9 23.09
Axis Treasury Advantage Fund 45 1,971.70 1 0.75
Axis Triple Advantage Fund 179 2,992.16 331 898.85
Axis Long Term Equity Fund 711 33,866.08 2,142 26,866.41
Axis Ultra Short Term Fund 24 818.09 12 1.26
9,216 8,18,091.33 4,625 47,892.32
#less than 0.05
This disclosure has been carried out for all the schemes and the amount is set aside at a pool level.
Note: The Amounts of Unclaimed Dividends and Redemptions which are pending for more than 3 months are considered as unclaimed
6. REDRESSAL OF COMPLAINTS RECEIVED AGAINST AXIS MUTUAL FUNDS DURING 2020-21
Please refer Annexure - 2 for the details on redressal of complaints received against Axis Mutual Fund during the financial year ended March 31, 2021.
7. SCHEME WISE CHANGES IN RISK-O-METER
SEBI vide its circular dated October 5, 2020, revised its guidelines for evaluation of risk levels of scheme(s) which are depicted by “Risk-o-meter”. Pursuant to requirement of the said circular,
changes in Risk-o-meter of the schemes of Axis Mutual Fund during the period ended January 1, 2021 to March 31, 2021 are given below:
Risk-o-meter level Risk-o-meter level Number of changes in Risk-o-meter

Scheme name as on December 31, 2020 at end of the financial year during the financial year
Axis Fixed Term Plan - Series 100 (1172 days) Low to Moderate Low to Moderate 0
Axis Fixed Term Plan - Series 101 (1154 days) Low to Moderate Low to Moderate 0
Axis Fixed Term Plan - Series 102 (1133 Days) Low to Moderate Low to Moderate 0
Axis All Seasons Debt Fund of Funds Moderately High Moderately High 0
Axis Banking & PSU Debt Fund Low to Moderate Low to Moderate 0
Axis Banking ETF Very High Very High 0
Axis Capital Builder Fund - Series 1 (1540 days) Very High Very High 0
Axis Capital Builder Fund - Series 4 (1582 days) Very High Very High 0
Axis Children's Gift Fund Very High Very High 0
Axis Corporate Debt Fund Moderate Low to Moderate 1
Axis Dynamic Bond Fund Moderate Moderate 0
Axis Dynamic Equity Fund High Very High 1
Axis Equity Advantage Fund - Series 1 Very High Very High 0
Axis Arbitrage Fund Low to Moderate Low 1
Axis Equity Hybrid Fund Very High Very High 0
Axis Bluechip Fund Very High Very High 0
Axis Equity Saver Fund High Moderately High 1
Axis ESG Equity Fund Very High Very High 0
Axis Focused 25 Fund Very High Very High 0
Axis Global Equity Alpha Fund of Fund Very High Very High 0
Axis Gold ETF Moderately High Moderately High 0
Axis Gold Fund Moderately High Moderately High 0
Axis Growth Opportunities Fund Very High Very High 0
Axis Strategic Bond Fund Moderately High Moderately High 2
Axis Credit Risk Fund High High 2
Axis Regular Saver Fund Moderately High Moderately High 0
Axis Liquid Fund Low to Moderate Low to Moderate 0
Axis Gilt Fund Moderate Low to Moderate 1
Axis Midcap Fund Very High Very High 0
Axis Flexi Cap Fund Very High Very High 0
Axis Money Market Fund Moderate Moderate 0
Axis Nifty ETF Very High Very High 0
Axis Nifty 100 Index Fund Very High Very High 0
Axis Overnight Fund Low Low 0
Axis Retirement Savings Fund - Aggressive Plan Very High Very High 0
Axis Retirement Savings Fund - Conservative Plan High High 0
Axis Retirement Savings Fund - Dynamic Plan Very High Very High 0
Axis Fixed Term Plan - Series 96 (1124 Days) Moderately High Moderately High 0
Axis Fixed Term Plan - Series 97 (1116 Days) Moderately High Moderately High 0
9

7. SCHEME WISE CHANGES IN RISK-O-METER (CONTD.)
Risk-o-meter level Risk-o-meter level Number of changes in Risk-o-meter
Scheme name as on December 31, 2020 at end of the financial year during the financial year
Axis Small Cap Fund Very High Very High 0
Axis Special Situations Fund Moderately High Very High 1
Axis Short Term Fund Moderate Low to Moderate 1
Axis Treasury Advantage Fund Low to Moderate Low to Moderate 0
Axis Triple Advantage Fund Very High Very High 0
Axis Long Term Equity Fund Very High Very High 0
Axis Ultra Short Term Fund Moderate Moderate 0
Axis Greater China Equity Fund of Fund NA Very High 0
Axis Technology ETF NA Very High 0
*Risk-o-meter is based on revised methodology prescribed by SEBI vide circular dated October 5, 2020 for portfolio of schemes as on December 31, 2020.
8. STATUTORY INFORMATION
a. The Sponsor / Settlor is not responsible or liable for any loss resulting from the operation of the schemes of the Fund beyond their initial contribution (to the extent contributed) of
` 1,00,000/- for setting up the Fund, and such other accretions / additions to the same.
b. The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market value of its underlying investments in securities or fair
value.
c. Full Annual Report shall be disclosed on the website (www.axismf.com) and shall be available for inspection at the Head Office of the mutual fund. Present and prospective unit holder /
investors can obtain copy of the Trust Deed, the full Annual Report of the Fund / AMC at a price and the text of the relevant scheme. Further, the annual report of AMC shall be available
for information on website www.axismf.com.
ACKNOWLEDGEMENTS
The Trustee Company thanks the unitholders of the schemes for their overwhelming response and also thanks the Government of India, the Securities and Exchange Board of India (SEBI), the
Reserve Bank of India (RBI) and the Association of Mutual Funds in India (AMFI) for the guidance provided by them. The Trustee also appreciates the service provided by the Registrar and Transfer
Agent, Fund Accountant, Custodian, Bankers, Distributors and Brokers. The guidance and services provided by the auditors and legal advisors and the sincerity and dedication of the employees of
Axis AMC is also appreciated.
For Axis Mutual Fund Trustee Limited
Sd/- Sd/-
Mr. Bapi Munshi Mr. G. Gopalakrishna
Director Director
Place: Mumbai
Date: May 25, 2021
10

Performance of the Scheme of Axis Mutual Fund for the period ended March 31, 2021 Annexure - 1
NAV as Returns to Investors^
on March 1 year Return 3 years Return 5 years Return Returns Since
Inception/ AUM 31, 2021 Inception
Name of the Scheme Allotment Date (ìn crores) (` in Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Rupees) Return Returns Return Returns Return Returns Return Returns
(%) (%) (%) (%) (%) (%) (%) (%)
Axis Liquid Fund - Regular Plan - Growth Option October 9, 2009 21,567.59 2,272.7283 3.58% 3.70% 5.76% 5.70% 6.28% 6.16% 7.41% 7.35%
Benchmark: NIFTY Liquid Index
Axis Liquid Fund - Retail Plan - Growth Option March 1, 2010 2,125.7941 3.06% 3.70% 5.24% 5.70% 5.73% 6.16% 7.04% 7.49%
Axis Liquid Fund - Direct Plan - Growth Option December 31, 2012 2,284.7906 3.65% 3.70% 5.83% 5.70% 6.35% 6.16% 7.35% 7.17%
Axis Treasury Advantage Fund - Regular Plan - October 9, 2009 8,537.37 2,400.9730 6.44% 5.91% 7.40% 7.10% 7.35% 7.22% 7.93% 8.00%
Growth Option
Benchmark: NIFTY Low Duration Debt Index
Axis Treasury Advantage Fund - Direct Plan - January 1, 2013 2,482.5841 6.77% 5.91% 7.79% 7.10% 7.79% 7.22% 8.38% 7.86%
Growth Option
Axis Treasury Advantage Fund - Retail Plan - March 3, 2010 2,251.0273 6.44% 5.91% 7.47% 7.10% 7.15% 7.22% 7.59% 8.08%
Growth Option
Axis Long Term Equity Fund - Direct Plan - Growth Option January 1, 2013 27,870.00 66.3499 58.97% 76.26% 15.62% 13.74% 16.93% 15.50% 19.83% 13.65%
Benchmark: S&P BSE 200 TRI Index
Axis Long Term Equity Fund - Regular Plan - December 29, 2009 60.7640 57.63% 76.26% 14.59% 13.74% 15.79% 15.50% 17.38% 11.41%
Growth Option
Benchmark: S&P BSE 200 TRI Index
Axis Bluechip Fund - Direct Plan - Growth Option January 1, 2013 24,598.26 42.6500 50.71% 72.54% 17.58% 14.58% 17.68% 15.12% 16.41% 12.95%
Benchmark: NIFTY 50 TRI
Axis Bluechip Fund - Regular Plan - Growth Option January 5, 2010 38.7100 48.88% 72.54% 16.09% 14.58% 16.23% 15.12% 12.80% 10.86%
Axis Short Term Fund - Direct Plan - Growth Option January 1, 2013 11,744.71 25.4019 8.67% 8.21% 8.92% 8.13% 8.64% 7.97% 8.95% 8.35%
Benchmark: NIFTY Short Duration Debt Index
Axis Short Term Fund - Regular Plan - Growth Option January 22, 2010 23.8933 7.92% 8.21% 8.20% 8.13% 7.91% 7.97% 8.09% 8.15%
Axis Short Term Fund- Retail Plan - Growth Option March 2, 2010 23.6254 7.93% 8.21% 8.20% 8.13% 7.91% 7.97% 8.06% 8.19%
Axis Regular Saver Fund - Direct Plan - Growth Option January 4, 2013 226.46 24.7823 20.73% 22.56% 7.72% 10.34% 8.37% 10.14% 9.45% 9.77%
Benchmark: NIFTY 50 Hybrid Short Duration
Debt 25:75 Index
Axis Regular Saver Fund - Regular Plan - Growth Option July 16, 2010 22.4063 19.52% 22.56% 6.66% 10.34% 7.15% 10.14% 7.82% 9.42%
Debt 25:75 Index
Axis Dynamic Bond Fund - Direct Plan - Growth Option January 1, 2013 1,911.92 24.8110 8.11% 8.62% 9.91% 8.98% 9.33% 8.51% 9.59% 8.54%
Benchmark: NIFTY Composite Debt Index
Axis Dynamic Bond Fund - Regular Plan - Growth Option April 27, 2011 22.9345 7.66% 8.62% 9.22% 8.98% 8.52% 8.51% 8.71% 8.66%
Axis Triple Advantage Fund - Direct Plan - Growth Option January 1, 2013 931.41 28.1537 48.62% 46.30% 13.22% 13.82% 12.41% 13.34% 10.14% 11.19%
Benchmark: NIFTY Composite Debt Index (20%),
Nifty 50 TRI (65%),Gold (15%)
Axis Triple Advantage Fund - Regular Plan - Growth Option August 23, 2010 25.6513 46.41% 46.30% 11.81% 13.82% 11.03% 13.34% 9.28% 10.49%
Benchmark: NIFTY Composite Debt Index (20%),
Nifty 50 TRI (65%),Gold (15%)
Axis Gold ETF November 10, 2010 396.04 38.3732 -0.11% 2.41% 11.79% 12.36% 6.98% 8.64% 6.33% 6.85%
Benchmark: Domestic Price of Gold
Axis Midcap Fund - Direct Plan - Growth Option January 1, 2013 10,431.65 60.4100 70.03% 92.98% 19.29% 9.32% 20.26% 14.95% 19.72% 14.74%
Benchmark: S&P BSE Midcap TRI Index
Axis Midcap Fund - Regular Plan - Growth Option February 18, 2011 54.6200 67.75% 92.98% 17.77% 9.32% 18.80% 14.95% 18.27% 13.04%
Benchmark: S&P BSE Midcap TRI Index
Axis Gold Fund - Direct Plan - Growth Option January 1, 2013 212.00 14.7352 0.54% 2.41% 12.91% 12.36% 8.40% 8.64% 3.11% 3.79%
Axis Gold Fund - Regular Plan - Growth Option October 20, 2011 13.6763 0.25% 2.41% 12.51% 12.36% 7.79% 8.64% 3.37% 4.60%
Axis Gilt Fund - Direct Plan - Growth Option January 1, 2013 161.91 20.6160 8.86% 6.37% 10.05% 9.44% 8.83% 8.30% 8.29% 7.92%
Benchmark: NIFTY All Duration G-Sec Index
Axis Gilt Fund - Regular Plan - Growth Option January 23, 2012 19.7661 8.27% 6.37% 9.50% 9.44% 8.28% 8.30% 7.69% 8.04%
Benchmark: NIFTY All Duration G-Sec Index
Axis Strategic Bond Fund - Direct Plan - Growth January 7, 2013 1,349.03 22.5530 8.77% 9.34% 8.34% 8.85% 8.96% 8.50% 9.28% 8.64%
Benchmark: NIFTY Medium Duration Debt Index
Axis Strategic Bond Fund - Regular Plan - Growth Option March 28, 2012 21.1234 8.01% 9.34% 7.61% 8.85% 8.22% 8.50% 8.65% 8.94%
Benchmark: NIFTY Medium Duration Debt Index
Axis Banking & PSU Debt Fund - Direct Plan - Growth January 1, 2013 16,154.21 2,097.7900 8.08% 7.75% 8.99% 7.90% 8.51% 7.85% 8.72% 8.26%
Benchmark: NIFTY Banking & PSU Debt Index
11

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Banking & PSU Debt Fund - Regular Plan - June 8, 2012 2,059.4026 7.75% 7.75% 8.67% 7.90% 8.23% 7.85% 8.54% 8.42%
Growth Option
Benchmark: NIFTY Banking & PSU Debt Index
Axis Focused 25 Fund - Direct Plan - Growth January 1, 2013 15,007.35 41.4100 62.07% 72.54% 15.56% 14.58% 18.67% 15.12% 16.61% 12.95%
Axis Focused 25 Fund - Regular Plan - Growth Option June 29, 2012 37.4800 60.24% 72.54% 14.17% 14.58% 17.24% 15.12% 16.28% 13.76%
Axis Small Cap Fund - Regular Plan - Growth Option November 29, 2013 4,485.04 43.8000 80.92% 127.45% 16.80% 2.46% 18.12% 11.77% 22.29% 14.78%
Benchmark: Nifty Smallcap 100 TRI
Axis Small Cap Fund - Direct Plan - Growth Option November 29, 2013 47.9400 84.03% 127.45% 18.44% 2.46% 19.64% 11.77% 23.81% 14.78%
Benchmark: Nifty Smallcap 100 TRI
Axis Credit Risk Fund - Regular Plan - Growth Option July 15, 2014 592.98 16.2889 7.40% 10.29% 6.05% 8.82% 6.73% 8.88% 7.54% 9.29%
Benchmark: NIFTY Credit Risk Bond Index
Axis Credit Risk Fund - Direct Plan - Growth Option July 15, 2014 17.5905 8.58% 10.29% 7.28% 8.82% 8.04% 8.88% 8.77% 9.29%
Benchmark: NIFTY Credit Risk Bond Index
Axis Arbitrage Fund - Regular Plan - Growth Option August 14, 2014 3,022.74 14.6501 3.16% 2.34% 5.04% 4.57% 5.51% 4.83% 5.93% 5.46%
Benchmark: Nifty 50 Arbitrage Index
Axis Arbitrage Fund - Direct Plan - Growth Option August 14, 2014 15.4427 3.93% 2.34% 5.82% 4.57% 6.33% 4.83% 6.77% 5.46%
Benchmark: Nifty 50 Arbitrage Index
Axis Children's Gift Fund - Compulsory Lock-in - December 8, 2015 575.13 18.4231 49.17% 48.18% 12.59% 13.41% 12.87% 13.33% 12.18% 12.82%
Direct Plan - Growth Option
Benchmark: NIFTY 50 Hybrid Composite Debt 65:35 Index
Axis Children's Gift Fund - Compulsory Lock-in - December 8, 2015 17.0324 47.31% 48.18% 11.06% 13.41% 11.22% 13.33% 10.54% 12.82%
Regular Plan - Growth Option
Axis Children's Gift Fund - No Lock-in - Direct Plan - December 8, 2015 18.6173 49.36% 48.18% 12.70% 13.41% 13.07% 13.33% 12.40% 12.82%
Growth Option
Axis Children's Gift Fund - No Lock-in - Regular Plan - December 8, 2015 17.0303 47.31% 48.18% 11.06% 13.41% 11.21% 13.33% 10.54% 12.82%
Growth Option
Axis Equity Saver Fund - Regular Plan - Growth Option August 14, 2015 724.75 15.2300 27.02% 26.39% 8.87% 9.88% 9.06% 9.91% 7.75% 8.71%
Benchmark: NIFTY Equity Savings Index
Axis Equity Saver Fund - Direct Plan - Growth Option August 14, 2015 16.3100 28.73% 26.39% 10.24% 9.88% 10.38% 9.91% 9.07% 8.71%
Benchmark: NIFTY Equity Savings Index
Axis Equity Advantage Fund - Series 1 - Regular Plan - May 25, 2017 1,264.42 14.8400 33.09% 54.11% 11.34% 13.64% NA NA 10.79% 12.43%
Growth Option
Benchmark: Nifty 50 TRI Index (75%) +
CRISIL Composite Bond Fund Index (25%)
Axis Equity Advantage Fund - Series 1 - Direct Plan - May 25, 2017 15.5700 34.22% 54.11% 12.57% 13.64% NA NA 12.18% 12.43%
Growth Option
Benchmark: Nifty 50 TRI Index (75%) +
CRISIL Composite Bond Fund Index (25%)
Axis Nifty ETF July 3, 2017 35.49 152.8197 72.00% 72.54% 14.39% 14.58% NA NA 13.50% 13.36%
Axis Corporate Debt Fund - Regular Plan - Growth Option July 13, 2017 3,806.52 13.1754 9.21% 9.90% 7.91% 8.68% NA NA 7.70% 8.08%
Benchmark: NIFTY Corporate Bond Index
Axis Corporate Debt Fund - Direct Plan - Growth Option July 13, 2017 13.5664 9.97% 9.90% 8.73% 8.68% NA NA 8.55% 8.08%
Benchmark: NIFTY Corporate Bond Index
Axis Dynamic Equity Fund - Regular Plan - Growth Option August 1, 2017 1,336.83 12.7300 24.07% 38.37% 7.12% 12.63% NA NA 6.81% 10.62%
Axis Dynamic Equity Fund - Direct Plan - Growth Option August 1, 2017 13.4400 25.84% 38.37% 8.65% 12.63% NA NA 8.40% 10.62%
Axis Flexi Cap Fund - Regular Plan - Growth Option November 20, 2017 7,625.95 15.4900 49.37% 77.58% 15.53% 12.61% NA NA 13.90% 10.42%
Benchmark: Nifty 500 TRI
Axis Flexi Cap Fund - Direct Plan - Growth Option November 20, 2017 16.3100 51.58% 77.58% 17.29% 12.61% NA NA 15.66% 10.42%
Axis Capital Builder Fund - Series 1-1540D - March 8, 2018 607.08 13.7300 63.65% 77.58% 11.03% 12.61% NA NA 10.89% 12.06%
Axis Capital Builder Fund - Series 1-1540D - Direct Plan - March 8, 2018 14.1700 64.96% 77.58% 12.16% 12.61% NA NA 12.04% 12.06%
Growth Option
Axis Capital Builder Fund - Series 4-1582D - December 21, 2018 1,201.86 14.2000 63.22% 77.58% NA NA NA NA 16.65% 15.56%
12

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Capital Builder Fund - Series 4-1582D - Direct Plan - December 21, 2018 14.5000 64.59% 77.58% NA NA NA NA 17.73% 15.56%
Growth Option
Axis Equity Hybrid Fund - Regular Plan - Growth Option August 9, 2018 1,589.09 13.0200 45.15% 49.75% NA NA NA NA 10.50% 11.57%
Benchmark: CRISIL Hybrid 35+65 - Aggressive Index
Axis Equity Hybrid Fund - Direct Plan - Growth Option August 9, 2018 13.5500 47.28% 49.75% NA NA NA NA 12.18% 11.57%
Benchmark: CRISIL Hybrid 35+65 - Aggressive Index
Axis Growth Opportunities Fund - Regular Plan - October 22, 2018 2,663.87 15.9300 68.93% 85.91% NA NA NA NA 21.01% 18.84%
Growth Option
Benchmark: NIFTY Large Midcap 250 TRI
Axis Growth Opportunities Fund - Direct Plan - October 22, 2018 16.6200 71.52% 85.91% NA NA NA NA 23.14% 18.84%
Growth Option
Benchmark: NIFTY Large Midcap 250 TRI
Axis Overnight Fund - Regular Plan - Growth Option March 15, 2019 5,448.13 1,086.6086 3.02% 3.08% NA NA NA NA 4.14% 4.22%
Benchmark: NIFTY 1D Rate Index
Axis Overnight Fund - Direct Plan - Growth Option March 15, 2019 1,087.9196 3.07% 3.08% NA NA NA NA 4.20% 4.22%
Benchmark: NIFTY 1D Rate Index
Axis Ultra Short Term Fund - Regular Plan - Growth September 10, 2018 4,679.24 11.6941 4.53% 4.91% NA NA NA NA 6.31% 6.65%
Benchmark: NIFTY Ultra Short Duration Debt Index
Axis Ultra Short Term Fund - Direct Plan - Growth September 10, 2018 11.9632 5.48% 4.91% NA NA NA NA 7.26% 6.65%
Benchmark: NIFTY Ultra Short Duration Debt Index
Axis Fixed Term Plan - Series 95 (1185D) - Regular Plan - July 4, 2018 114.23 12.4974 6.90% 7.69% NA NA NA NA 8.47% 10.12%
Growth Option
Benchmark: CRISIL Composite Bond Fund index
Axis Fixed Term Plan - Series 95 (1185D) - Direct Plan - July 4, 2018 12.6262 7.30% 7.69% NA NA NA NA 8.87% 10.12%
Growth Option
Benchmark: CRISIL Composite Bond Fund index
Axis Fixed Term Plan - Series 96 (1124D) - Regular Plan - September 3, 2018 53.33 11.4323 8.94% 7.75% NA NA NA NA 5.34% 9.76%
Growth Option
Benchmark: 50% CRISIL Composite Bond Fund Index +
50% CRISIL Short Term Bond Fund Index
Axis Fixed Term Plan - Series 96 (1124D) - Direct Plan - September 3, 2018 11.5169 9.26% 7.75% NA NA NA NA 5.64% 9.76%
Growth Option
Axis Fixed Term Plan - Series 97 (1116D) - Regular Plan - September 11, 2018 400.98 11.7624 8.99% 7.75% NA NA NA NA 6.56% 10.06%
Growth Option
Axis Fixed Term Plan - Series 97 (1116D) - Direct Plan - September 11, 2018 11.8208 9.21% 7.75% NA NA NA NA 6.77% 10.06%
Growth Option
Axis Fixed Term Plan - Series 100 (1172D) - January 22, 2019 27.06 12.1830 8.64% 7.75% NA NA NA NA 9.44% 9.60%
Axis Fixed Term Plan - Series 100 (1172D) - Direct Plan - January 22, 2019 12.2498 8.91% 7.75% NA NA NA NA 9.71% 9.60%
Growth Option
Axis Fixed Term Plan - Series 101 (1154D) - February 13, 2019 32.55 12.1146 8.63% 7.75% NA NA NA NA 9.43% 9.59%
Axis Fixed Term Plan - Series 101 (1154D) - February 13, 2019 12.1792 8.90% 7.75% NA NA NA NA 9.70% 9.59%
Axis Fixed Term Plan - Series 102 (1133D) - March 6, 2019 38.51 12.0462 8.60% 7.75% NA NA NA NA 9.40% 9.79%
Axis Fixed Term Plan - Series 102 (1133D) - March 6, 2019 12.1087 8.88% 7.75% NA NA NA NA 9.68% 9.79%
13

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Fixed Term Plan - Series 104 (1112D) - March 28, 2019 106.13 11.8732 8.24% 7.75% NA NA NA NA 8.91% 9.50%
Axis Fixed Term Plan - Series 104 (1112D) - Direct Plan - March 28, 2019 11.9451 8.57% 7.75% NA NA NA NA 9.24% 9.50%
Growth Option
Axis All Seasons Debt Fund of Funds - Regular Plan - January 29, 2020 112.99 10.9852 7.82% 8.62% NA NA NA NA 8.34% 9.54%
Growth Option
Axis All Seasons Debt Fund of Funds - Direct Plan - January 29, 2020 11.0209 8.12% 8.62% NA NA NA NA 8.64% 9.54%
Growth Option
Axis ESG Equity Fund - Regular Plan - Growth Option February 12, 2020 1,903.57 13.5800 50.55% 77.23% NA NA NA NA 31.06% 24.55%
Benchmark: NIFTY100 ESG TRI
Axis ESG Equity Fund - Direct Plan - Growth Option February 12, 2020 13.8300 52.99% 77.23% NA NA NA NA 33.19% 24.55%
Benchmark: NIFTY100 ESG TRI
Axis Money Market Fund - Regular Plan - Growth Option August 6, 2019 2,161.66 1,104.2394 5.52% 4.48% NA NA NA NA 6.19% 5.13%
Benchmark: NIFTY Money Market Index
Axis Money Market Fund - Direct Plan - Growth Option August 6, 2019 1,106.8851 5.68% 4.48% NA NA NA NA 6.34% 5.13%
Benchmark: NIFTY Money Market Index
Axis Nifty 100 Index Fund - Regular Plan - Growth Option October 18, 2019 399.45 12.5000 67.56% 71.18% NA NA NA NA 16.61% 17.99%
Axis Nifty 100 Index Fund - Direct Plan - Growth Option October 18, 2019 12.6400 68.76% 71.18% NA NA NA NA 17.51% 17.99%
Axis Retirement Savings Fund - Aggressive Plan - December 20, 2019 567.63 11.9700 41.66% 51.53% NA NA NA NA 15.09% 15.75%
Axis Retirement Savings Fund - Aggressive Plan - December 20, 2019 12.2400 44.00% 51.53% NA NA NA NA 17.11% 15.75%
Axis Retirement Savings Fund - Conservative Plan - December 20, 2019 102.88 11.5058 20.49% 22.56% NA NA NA NA 11.59% 11.44%
Debt 25:75 Index
Axis Retirement Savings Fund - Conservative Plan - December 20, 2019 11.7713 22.62% 22.56% NA NA NA NA 13.59% 11.44%
Debt 25:75 Index
Axis Retirement Savings Fund - Dynamic Plan - December 20, 2019 256.82 12.0500 33.00% 48.18% NA NA NA NA 15.69% 15.52%
Axis Retirement Savings Fund - Dynamic Plan - December 20, 2019 12.3400 35.46% 48.18% NA NA NA NA 17.86% 15.52%
Axis Global Equity Alpha Fund Of Fund - September 24, 2020 1,382.85 11.5722 NA NA NA NA NA NA 15.72% 22.44%
Regular Plan - Growth Option^
Benchmark: MSCI World (Net TR)
Axis Global Equity Alpha Fund Of Fund - September 24, 2020 11.6484 NA NA NA NA NA NA 16.48% 22.44%
Direct Plan - Growth Option^
Benchmark: MSCI World (Net TR)
Axis Banking ETF^ November 3, 2020 43.89 332.9096 NA NA NA NA NA NA 33.18% 29.67%
Benchmark: Nifty Bank TRI Index
Axis Greater China Equity Fund of Fund - February 10, 2021 42.98 9.0700 NA NA NA NA NA NA -9.30% -9.81%
Regular Plan - Growth Option^
Benchmark: MSCI Golden Dragon Index
Axis Greater China Equity Fund of Fund - February 10, 2021 9.0800 NA NA NA NA NA NA -9.20% -9.81%
Benchmark: MSCI Golden Dragon Index
Axis Special Situations Fund- Regular Plan - December 24, 2020 2,287.03 10.3300 NA NA NA NA NA NA 3.30% 7.92%
Growth Option^
Axis Special Situations Fund- December 24, 2020 10.3800 NA NA NA NA NA NA 3.80% 7.92%
14

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Technology ETF^ March 25, 2021 46.93 258.4725 NA NA NA NA NA NA 0.38% 2.45%
Benchmark: Nifty IT TRI Index
^ Schemes launched during the F.Y. 2020-21

Past performance may or may not be sustained in future. Different plans have different expense structure. Returns greater than one year are Compounded Annualized Growth Rate (CAGR).
Annexure - 2
Investor Complaints Report
Redressal of Complaints received against Mutual Funds (MFs) during 2020-2021
Name of Mutual Fund : AXIS MUTUAL FUND
Total Number of Folios : 80,52,881
(a) No. of Action on (a) and (b)
complaints (b) No. of
Complaint Type of Complaint# pending at the Complaints Resolved Pending
Code Non
beginning of received during Within 30-60 60-180 Beyond Actionable* 0-3 3-6 6-9 9-12
the year the year 30 days days days 180 days months months months months
IA Non receipt of Dividend on Units 0 0 0 0 0 0 0 0 0 0 0
IB Interest on delayed payment of Dividend 0 16 16 0 0 0 0 0 0 0 0
IC Non receipt of Redemption Proceeds 3 135 133 4 1 0 0 0 0 0 0
ID Interest on delayed payment of Redemption 0 191 190 1 0 0 0 0 0 0 0
II A Non receipt of Statement of Account/Unit Certificate 0 0 0 0 0 0 0 0 0 0 0
II B Discrepancy in Statement of Account 0 0 0 0 0 0 0 0 0 0 0
II C Data corrections in Investor details 0 0 0 0 0 0 0 0 0 0 0
II D Non receipt of Annual Report/Abridged Summary 0 0 0 0 0 0 0 0 0 0 0
III A Wrong switch between Schemes 0 0 0 0 0 0 0 0 0 0 0
III B Unauthorized switch between Schemes 0 0 0 0 0 0 0 0 0 0 0
III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0
III D Wrong or excess charges/load 0 0 0 0 0 0 0 0 0 0 0
III E Non updation of changes viz. address, PAN,
bank details, nomination, etc 30 1188 1186 28 4 0 0 0 0 0 0
IV Others 0 0 0 0 0 0 0 0 0 0 0
TOTAL 33 1530 1525 33 5 0 0 0 0 0 0
#including against its authorized persons/ distributors/ employees. etc.
*Non actionable means the complaint that are incomplete / outside the scope of the mutual fund.
15
ROLE OF MUTUAL FUNDS IN CORPORATE GOVERNANCE OF PUBLIC LISTED COMPANIES
In terms of the Securities and Exchange Board of India (“SEBI”) circular dated March 15, 2010,
as amended from time to time, the AMC has framed a general voting policy to protect and
enhance wealth of unitholders and to improve governance of investee companies (“Voting
Policy”). The Voting Policy as approved by the Board of Axis Asset Management Company
Limited & Axis Mutual Fund Trustee Limited is disclosed below for information of investors.
Further, in terms of the regulatory requirements please take note of the following:
a) The Scrutinizer’s certification on examining the reports containing the details of votes cast
during the quarter ended June 30, 2020, September 30, 2020, December 31, 2020 and
March 31, 2021 for the financial year 2020-21 annexed as Annexure I.
b) The details of summary of votes cast during the financial year 2020-21along with the
rationale for voting decision for the financial year 2020-21 is disclosed on the website of
Axis AMC / MF www.axismf.com. Please visit www.axismf.com to view the voting details.
VOTING POLICY OF AXIS MUTUAL FUND
1. SEBI vide its circular no. SEBI/IMD/Cir No 18/198647/2010 dated March 15, 2010 read with
circular no. CIR/IMD/DF/05/2014 dated March 24, 2014 and other relevant guidelines /
circulars issued by SEBI from time to time in this regard has stated that mutual funds should
play an active role in ensuring better corporate governance of listed companies. Further,
SEBI vide its circular no. CIRCULAR CIR/CFD/CMD1/ 168 /2019 dated December 24, 2019
mandated Mutual Funds to have a clear policy on voting and disclosure of voting activity
to protect and enhance wealth of unitholders and to improve governance of investee
companies. This policy is drafted in pursuance of above referred circular and clarificatory
email received from SEBI from time to time and provides general philosophy, broad
guidelines and procedures for exercising voting rights.
2. Axis Asset Management Company Limited (AMC), Investment Manager to Axis Mutual Fund
(“the Mutual Fund”), shall endeavor to vote on all resolutions which may affect its
unitholders interests, either by electronic means, postal ballot or through attendance.
3. The AMC shall not give proxy to brokers, for voting on its behalf.
4. The AMC’s investment philosophy is to invest in good quality companies that have a high
standard of corporate governance. Accordingly given that the act of investment is an
indicative of the support towards the management and its broad policies, the AMC may
generally vote with the management on routine matters.
5. However all matters whether routine or otherwise will be reviewed to check if they are in
the best interests of the unitholders. All voting decisions ultimately have to reflect the same.
6. Where the holding of the Mutual Fund Scheme(s) is deemed to be substantial in nature (for
example 5% or more of the paid up capital of the investee company or such other threshold
as determined by the IRC), the AMC may take additional steps to protect its interests
including being represented at the meeting of stakeholders by the concerned Fund
Manager or concerned analyst tracking the stock or any other Equity Fund Manager.
16
7. AMC may use services of the Proxy advisor(s) to support its proxy voting decisions. Scope of
such service provider shall be limited to only assisting the AMC with research and non
binding recommendation pertaining to the proposed resolutions of the investee
companies. However if the fund manager do not agree with any recommendation, in such
situation decision of the fund manager is final.
8. The decision regarding the voting on the resolution, i.e. whether the AMC will (i) attend/not
attend, (ii) vote/abstain, (iii) if voted, for or against the resolution proposed by the Investee
Company will be taken by the Fund Manager in consultation with the Head - Investments.
AMC recognizes that there may be a potential conflict of interest when it decides to vote
for / against Investee Company, on behalf of the Mutual Fund Scheme(s), which is a group
company of AMC or where the Investee Company has substantial investments in the
Scheme(s) of the Mutual Fund. AMC shall review all voting proposals and take decisions
with respect to voting on such proposals in the best interest of the unit holders.
9. The actual exercise of the proxy votes in the AGMs/EGMs of the investee companies will
cover the following matters and will be reported in the SEBI prescribed format:
a. Corporate governance matters, including changes in the state of incorporation,

merger and other corporate restructuring, and anti takeover provisions;
b. Changes to capital structure, including increases and decreases of capital and

preferred stock issuances;
c. Stock option plans and other management compensation issues;
d. Social and corporate responsibility issues;
e. Appointment and Removal of Directors;
f. Any other issue that may affect the interest of the shareholders in general
and interest of the unit-holders in particular.
For each of these matters, the test for the AMC will be whether the proposals are favourable
for the unitholders or not. Accordingly the AMC will avoid creating broad generalized policy
on how to vote on any category of issues and instead will treat each matter on an individual
case by case basis.
10. The AMC may vote against the company management in certain scenarios if we believe
that doing so is in the best interests of the investors. A few examples include:
a. If a proposal diminishes shareholder rights
b. Remuneration incentives are not aligned with the company’s long term
performance and creation of shareholder value
c. Capital allocation decisions including new investment, M&A that we believe is not
value accretive to the shareholders
It is to be noted that there can be nuances in each case and accordingly the AMC will
ultimately take its decision on a case by case basis in the best interests of the unitholders.
11. The AMC will prefer to vote either for and against any proposal and abstain only in cases
where there are specific mitigating circumstances.
12. Whenever there is a change in Auditors, Independent Directors, key management

personnel of the Investee Company, the AMC shall be vigilant and make more enquiries,
including asking the Investee Company to provide reasons for the same.
17
13. Any corporate governance issue requiring support from other shareholders may be
discussed with them by the AMC.
14. The Investment Review Committee (IRC) of AMC will note the action taken in respect of
voting in its meetings.
The general policies and procedures stated above for exercising the voting rights in respect
of shares held by the Scheme(s) of the Mutual Fund will be disclosed on the website of the
Mutual Fund in format prescribed on a quarterly basis or at such frequency as may be
specified by SEBI. Further, AMC shall disclose voting details in its annual report. The disclosure
shall inte alia include a) Name of the Company b) details of resolution c) actual voting
done by AMC d) brief rationale for voting decision.
.
15. In instances where:
a. the investments are in group companies of the AMC or
b. the investee company has substantial investments in the schemes of the Fund
due care will be taken that voting decisions are taken independently and in the best
interest of unit holders. The AMC may also use its the discretion to decide to exercise a
voting right or abstain from it if it deems fit to do so in the interest of the unitholders or if there
is a conflict of interest. The AMC may also refer the matter to the Senior Management for
guidance on such matters.
18
19
20
21
22
Axis Asset Management Company Limited
Reporting on Discharging of Stewardship Responsibility – Axis Mutual Fund
SEBI vide its circular no. CIR/CFD/CMDI/168/2019 dated December 24, 2019 (“SEBI circular”)
has mandated all Mutual Funds and Alternative Investment Funds to frame Stewardship Code
in relations to their investments in listed equities. The circular requires reporting of stewardship
activities as prescribed in the circular.
Axis Asset Management Company Ltd. (“Axis AMC” / “Axis”) is Investment Manager for
schemes of Axis Mutual Fund registered under SEBI (Mutual Funds) Regulations, 1996.
Stewardship code is applicable to investments in listed equities for schemes of Axis Mutual
Fund.
At Axis AMC we see ourselves as long term stewards of our clients and this philosophy naturally
leads us to focus on long-term prospects for companies in which we invest.
The details of the manner in which the elements of the stewardship code have been
discharged by the Company are as follows:
Principle 1
Institutional Investors should formulate a comprehensive policy on the discharge of their

stewardship responsibilities, publicly disclose it, review and update it periodically
Compliance Status : Complied with
The Policy on discharge of stewardship responsibilities (Policy) had been approved by the
Board on May 23, 2020 and effective from July 01, 2020. Further the policy was reviewed and
ratified by the board October 16, 2020.
Principle 2
Institutional investors should have a clear policy on how they manage conflicts of interest in
fulfilling their stewardship responsibilities and publicly disclose it.
The Policy had been approved by the Board on May 23, 2020 effective from July 1, 2020. The
Policy disclosed on the website under the public disclosures section has specified various
control measures and prescribed procedures to be followed by the Company for identifying
and managing conflict of interest. There was no significant instance of conflict of interest noted
by the IRC at its meeting held during the period. The dealings with the investee companies
which is a group entity of Axis AMC has been carried out at arms-length basis and are in
compliance with applicable laws and regulations.
Principle 3
Institutional investors should monitor their investee companies
The Company engages with the investee companies as part of the research process that leads
to an investment in an investee company, which include meetings with management. The IRC
has reviewed monitoring and engagement activities carried out by the Investment team for
the said period
Principle 4
23
Institutional investors should have a clear policy on intervention in their investee companies.
Institutional investors should also have a clear policy for collaboration with other institutional
investors where required, to preserve the interests of the ultimate investors, which should be
disclosed.
The Policy covers when and how to intervene, if any intervention is required in any investee
company. The IRC reviews the intervention in the investee companies. Interventions during the
period were placed before the IRC. Further, there were no instances of collaboration with
other institutional investors during the period
Principle 5
Institutional investors should have a clear policy on voting and disclosure of voting activity
Axis Mutual fund has a voting policy in place as per the SEBI Regulations. Quarterly voting
disclosures are published on the website of the Company under the Statutory Disclosures
section
Principle 6
Institutional investors should report periodically on their stewardship activities.
24
B S R & Co. LLP

Chartered Accountants
14th Floor, Central B Wing and North C Wing, Telephone: +91 22 6257 1000
Nesco IT Park 4, Nesco Center, Fax: +91 22 6257 1010
Western Express Highway,
Goregaon (East), Mumbai - 400 063
Independent Auditor’s Report
To the Trustees of Axis Mutual Fund

Axis Liquid Fund
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of Axis Liquid Fund (the ‘Scheme’) of Axis Mutual Fund,
which comprise the balance sheet as at 31 March 2021 and the revenue account and cash flow
statement for the year then ended, and notes to the financial statements, including a summary of the
significant accounting policies.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid financial statements give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Scheme as at 31 March 2021, its surplus and
cash flows for the year ended on that date.
Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (‘SAs’) issued by the Institute
of Chartered Accountants of India (the ‘ICAI’). Our responsibilities under those SAs are further
described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the Scheme in accordance with Code of Ethics issued by ICAI and we
have fulfilled our other ethical responsibilities in accordance with the Code of Ethics. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Responsibilities of Management and Those Charged with Governance for the Financial
Statements
The Scheme’s management, the Board of Directors of Axis Mutual Fund Trustee Limited (the
‘Trustees’) and the Board of Directors of Axis Asset Management Company Limited (the ‘AMC’)
(collectively referred to as ‘Management’) are responsible for the preparation of these financial
statements that give a true and fair view of the state of affairs, results of operations and cash flows of
the Scheme in accordance with the accounting policies and standards specified in the Ninth Schedule
of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended (the
‘Regulations’)and the accounting principles generally accepted in India. This responsibility includes
design, implementation and maintenance of internal control relevant to the preparation and
presentation of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Scheme’s ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless management either intends to liquidate the Scheme or
to cease operations, or has no realistic alternative but to do so.
The management is responsible for overseeing the Scheme’s financial reporting process.
Registered Office:
B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco
(a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 Center, Western Express Highway, Goregaon (East), Mumbai - 400063
25
Independent Auditor’s Report (continued)

Axis Mutual Fund – Axis Liquid Fund
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
x Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control;
x Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Scheme’s internal controls;
x Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management;
x Conclude on the appropriateness of management’s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Scheme’s ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor’s report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor’s report. However, future events or conditions may cause the Scheme
to cease to continue as a going concern;
x Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures and whether the financial statements represent the underlying transactions and events
in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
Report on Other Legal and Regulatory Requirements

1 As required by Regulation 55 (4) of the Regulations, we report that:
(a) We have obtained all information and explanations which, to the best of our knowledge and
belief, were necessary for the purposes of the audit; and
(b) The balance sheet and revenue account have been prepared in accordance with the
accounting policies and standards as specified in the Ninth Schedule of the Regulations.
26

Axis Mutual Fund – Axis Liquid Fund
Report on Other Legal and Regulatory Requirements (continued)
2 As required by Clause 5 (ii) (2) of the Eleventh Schedule of the Regulations, we report that the
balance sheet and revenue account are in agreement with the books of account of the Scheme.
3 As required by the Eight Schedule of the Regulations, we report that, in our opinion and on the
basis of information and explanations given to us, the methods used to value non – traded
securities, as at 31 March 2021, as determined by the Board of Directors of the AMC, are in
accordance with the Regulations and other guidelines issued by the Securities and Exchange
Board of India as applicable and approved by the Board of Directors of the Trustee, are fair and
reasonable.
For B S R & Co. LLP

Firm’s Registration No: 101248W/W-100022
Milind Ranade
Mumbai Partner
25 May 2021 Membership No: 100564
UDIN: 21100564AAAABN6104
27
B S R & Co. LLP


Axis Treasury Advantage Fund
Opinion
We have audited the financial statements of Axis Treasury Advantage Fund (the ‘Scheme’) of Axis
Mutual Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account and
cash flow statement for the year then ended, and notes to the financial statements, including a
summary of the significant accounting policies.
Basis for Opinion

opinion.
Statements
Registered Office:
28

Axis Mutual Fund – Axis Treasury Advantage Fund
related safeguards.

29

Axis Mutual Fund – Axis Treasury Advantage Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAABO3165
30
B S R & Co. LLP


Axis Banking and PSU Debt Fund
Opinion
We have audited the financial statements of Axis Banking and PSU Debt Fund (the ‘Scheme’) of
Axis Mutual Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account
and cash flow statement for the year then ended, and notes to the financial statements, including a
Basis for Opinion

opinion.
Statements
Registered Office:
31

Axis Mutual Fund – Axis Banking and PSU Debt Fund
related safeguards.

32

Axis Mutual Fund – Axis Banking and PSU Debt Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAABW5061
33
B S R & Co. LLP


Axis Short Term Fund
Opinion
We have audited the financial statements of Axis Short Term Fund (the ‘Scheme’) of Axis Mutual
Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account and cash flow
Basis for Opinion

opinion.
Statements
Registered Office:
34

Axis Mutual Fund – Axis Short Term Fund
related safeguards.

35

Axis Mutual Fund – Axis Short Term Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAABQ7888
36
B S R & Co. LLP


Axis Strategic Bond Fund
Opinion
We have audited the financial statements of Axis Strategic Bond Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
37

Axis Mutual Fund – Axis Strategic Bond Fund
related safeguards.

38

Axis Mutual Fund – Axis Strategic Bond Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAABV8749
39
B S R & Co. LLP


Axis Dynamic Bond Fund
Opinion
We have audited the financial statements of Axis Dynamic Bond Fund (the ‘Scheme’) of Axis
Mutual Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account for
the year then ended, and notes to the financial statements, including a summary of the significant
accounting policies.
generally accepted in India, of the state of affairs of the Scheme as at 31 March 2021, its surplus for
the year ended on that date.
Basis for Opinion

opinion.
Statements
Registered Office:
40

Axis Mutual Fund – Axis Dynamic Bond Fund
related safeguards.

41

Axis Mutual Fund – Axis Dynamic Bond Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAABS1641
42
B S R & Co. LLP


Axis Overnight Fund
Opinion
We have audited the financial statements of Axis Overnight Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
43

Axis Mutual Fund – Axis Overnight Fund
related safeguards.

44

Axis Mutual Fund – Axis Overnight Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACC6359
45
B S R & Co. LLP


Axis Regular Saver Fund
Opinion
We have audited the financial statements of Axis Regular Saver Fund (the ‘Scheme’) of Axis Mutual
Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account for the year
then ended, and notes to the financial statements, including a summary of the significant accounting
policies.
Basis for Opinion

opinion.
Statements
Registered Office:
46

Axis Mutual Fund – Axis Regular Saver Fund
related safeguards.

47

Axis Mutual Fund – Axis Regular Saver Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAABR2778
48
B S R & Co. LLP


Axis Gilt Fund
Opinion
We have audited the financial statements of Axis Gilt Fund (the ‘Scheme’) of Axis Mutual Fund,
which comprise the balance sheet as at 31 March 2021 and the revenue account for the year then
ended, and notes to the financial statements, including a summary of the significant accounting
policies.
Basis for Opinion

opinion.
Statements
Registered Office:
49

Axis Mutual Fund – Axis Gilt Fund
related safeguards.

50

Axis Mutual Fund – Axis Gilt Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAABU7668
51
B S R & Co. LLP


Axis Gold Fund
Opinion
We have audited the financial statements of Axis Gold Fund (the ‘Scheme’) of Axis Mutual Fund,
which comprise the balance sheet as at 31 March 2021 and the revenue account for the year then
ended, and notes to the financial statements, including a summary of the significant accounting
policies.
generally accepted in India, of the state of affairs of the Scheme as at 31 March 2021, its deficit for
Basis for Opinion

opinion.
Statements
Registered Office:
52

Axis Mutual Fund – Axis Gold Fund
related safeguards.

53

Axis Mutual Fund – Axis Gold Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAABT5156
54
B S R & Co. LLP


Axis Credit Risk Fund
Opinion
We have audited the financial statements of Axis Credit Risk Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
55

Axis Mutual Fund – Axis Credit Risk Fund
related safeguards.

56

Axis Mutual Fund – Axis Credit Risk Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAABX7568
57
B S R & Co. LLP


Opinion
We have audited the financial statements of Axis Corporate Debt Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
58

Axis Mutual Fund – Axis Corporate Debt Fund
related safeguards.

59

Axis Mutual Fund – Axis Corporate Debt Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAACA6406
60
B S R & Co. LLP


Axis Ultra Short Term Fund
Opinion
We have audited the financial statements of Axis Ultra Short Term Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
61

Axis Mutual Fund – Axis Ultra Short Term Fund
related safeguards.

62

Axis Mutual Fund – Axis Ultra Short Term Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACB1142
63
B S R & Co. LLP


Axis Money Market Fund
Opinion
We have audited the financial statements of Axis Money Market Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
64

Axis Mutual Fund – Axis Money Market Fund
related safeguards.

65

Axis Mutual Fund – Axis Money Market Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACD5426
66
B S R & Co. LLP


Axis All Season Debt Fund of Funds
Opinion
We have audited the financial statements of Axis All Season Debt Fund of Funds (the ‘Scheme’) of
Axis Mutual Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account
for the year then ended, and notes to the financial statements, including a summary of the significant
Basis for Opinion

opinion.
Statements
Registered Office
67

Axis Mutual Fund – Axis All Season Debt Fund of Funds
related safeguards.

68

Axis Mutual Fund – Axis All Season Debt Fund of Funds
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACE8712
69
Balance Sheet as at March 31, 2021

(All amounts in thousands of Rupees)
AXIS TREASURY AXIS TREASURY AXIS BANKING & AXIS BANKING &
AXIS LIQUID FUND AXIS LIQUID FUND
ADVANTAGE FUND ADVANTAGE FUND PSU DEBT FUND PSU DEBT FUND
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 95,828,165 98,684,360 35,520,398 19,822,233 83,311,350 68,738,038
Reserves and surplus 2(b) & 4 119,857,122 101,944,198 50,615,427 22,960,982 88,422,399 62,445,888
Loans 2(f) - 45,314,472 - - - -
Current liabilities and provisions 5 4,181,910 16,131,914 1,872,613 232,900 6,094,383 195,067
219,867,197 262,074,944 88,008,438 43,016,115 177,828,132 131,378,993
APPLICATION OF FUNDS
Investments 2(c), 6 & 21 196,306,824 218,207,299 76,872,055 41,360,360 159,162,004 127,500,019

Other current assets 7 23,560,373 43,867,645 11,136,383 1,655,755 18,666,128 3,878,974
219,867,197 262,074,944 88,008,438 43,016,115 177,828,132 131,378,993
Significant accounting policies

and notes to accounts 1 to 21
The accompanying schedules are an integral part of
this balance sheet.
As per our report of even date.
For B S R & Co. LLP For and on behalf of For and on behalf of
Chartered Accountants Axis Mutual Fund Trustee Limited Axis Asset Management Company Limited
ICAI Firm's Registration No: 101248W/W-100022
Milind Ranade Bapi Munshi G. Gopalakrishna Chandresh Kumar Nigam V. Anantharaman

Partner Director Director Managing Director & CEO Director
Membership No: 100564
R. Sivakumar Devang Shah Aditya Pagaria
Place: Mumbai Head-Fixed Income Co-Head-Fixed Income Fund Manager-Fixed Income
Date: May 25, 2021 & Fund Manager & Fund Manager
Dhaval Patel Kaustubh Sule

Fund Manager-Fixed Income Fund Manager-Fixed Income
Sachin Jain
Fund Manager-Fixed Income
Jinesh Gopani Ashish Naik

Head-Equity Fund Manager-Equity
70

AXIS SHORT TERM AXIS SHORT AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC
FUND TERM FUND BOND FUND BOND FUND BOND FUND BOND FUND
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 47,714,989 21,758,928 6,307,823 6,311,152 7,949,106 2,250,891
Loans 2(f) - - - - - -
Current liabilities and provisions 5 1,301,394 433,505 576,867 988,966 768,775 276,022
118,870,550 49,295,276 14,076,937 13,290,025 19,908,626 5,217,003
Investments 2(c), 6 & 21 110,682,842 46,018,281 12,482,523 11,873,267 17,965,997 4,701,640

Other current assets 7 8,187,708 3,276,995 1,594,414 1,416,758 1,942,629 515,363
118,870,550 49,295,276 14,076,937 13,290,025 19,908,626 5,217,003

this balance sheet.


Sachin Jain

71

AXIS OVERNIGHT AXIS OVERNIGHT AXIS REGULAR AXIS REGULAR AXIS GILT AXIS GILT
FUND FUND SAVER FUND SAVER FUND FUND FUND
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 50,113,478 35,178,385 1,051,927 969,747 813,026 335,401
Reserves and surplus 2(b) & 4 4,380,111 1,913,965 1,216,784 759,941 810,869 280,896
Loans 2(f) - - - - - -
Current liabilities and provisions 5 95,314 255,541 76,944 9,723 3,586 100,499
54,588,903 37,347,891 2,345,655 1,739,411 1,627,481 716,796
Investments 2(c), 6 & 21 - - 2,217,463 1,597,426 1,391,428 584,469

Other current assets 7 54,588,903 37,347,891 128,192 141,985 236,053 132,327
54,588,903 37,347,891 2,345,655 1,739,411 1,627,481 716,796

this balance sheet.


Sachin Jain

72

AXIS CREDIT RISK AXIS CREDIT RISK AXIS CORPORATE AXIS CORPORATE
AXIS GOLD FUND AXIS GOLD FUND
FUND FUND DEBT FUND DEBT FUND
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 1,513,039 557,283 3,627,952 7,004,923 28,878,259 1,567,210
Reserves and surplus 2(b) & 4 612,902 214,105 2,300,286 3,685,238 9,727,413 330,059
Loans 2(f) - - - - - -
2,139,251 778,714 5,947,645 10,837,993 39,104,847 1,901,162
Investments 2(c), 6 & 21 2,065,302 732,032 5,677,616 10,452,201 36,202,701 1,794,890

Other current assets 7 73,949 46,682 270,029 385,792 2,902,146 106,272
2,139,251 778,714 5,947,645 10,837,993 39,104,847 1,901,162

this balance sheet.


Sachin Jain

73

AXIS ULTRA SHORT AXIS ULTRA SHORT AXIS MONEY AXIS MONEY AXIS ALL SEASONS AXIS ALL SEASONS
TERM FUND TERM FUND MARKET FUND MARKET FUND DEBT FUND OF FUNDS DEBT FUND OF FUNDS
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 40,401,809 24,595,973 20,154,640 4,336,243 1,030,155 613,008
Reserves and surplus 2(b) & 4 6,961,101 2,766,588 2,136,906 203,776 104,189 11,822
Loans 2(f) - - - - - -
Current liabilities and provisions 5 202,811 338,068 26,028 15,587 927 580
47,565,721 27,700,629 22,317,574 4,555,606 1,135,271 625,410
Investments 2(c), 6 & 21 44,522,828 24,262,758 19,753,172 4,074,781 1,093,869 618,769

Other current assets 7 3,042,893 3,437,871 2,564,402 480,825 41,402 6,641
47,565,721 27,700,629 22,317,574 4,555,606 1,135,271 625,410

this balance sheet.


Sachin Jain

74
Revenue Account
April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) - - - - - -
Interest 2(d) & 8 10,647,228 19,533,538 4,227,121 2,114,533 11,417,389 7,182,221
Profit on sale/redemption of investments
(including derivatives), net 2(d) - - 182,337 105,703 1,170,414 -
Profit on inter-scheme transfer/sale of
investments, net 2(d) 6,115 1,399 55,627 26,043 181,515 81,253
Load income 2(g) 3,159 6,449 - - - -
Other income 2,251 200 4 35 78 -
Net change in marked to market gain / loss
in value of investments 2(c) & 6(ii) (73,346) (14,237) 206,158 (76,109) 182,566 1,465,311
Total 10,585,407 19,527,349 4,671,247 2,170,205 12,951,962 8,728,785
EXPENSES AND LOSSES
Loss on sale/redemption of investments

(including derivatives), net 2(d) 144,147 36,556 - - - 105,469
Management fee 9 314,877 189,326 165,339 53,773 383,549 207,817
GST on management fees 56,678 34,080 29,762 9,680 69,038 37,408
Trusteeship fee 9 1,110 1,554 309 138 655 450
Investor education expense 55,780 63,616 15,356 6,010 32,828 19,120
Custodian service charges 11,862 16,441 3,182 1,505 6,921 4,842
Registrar service charges 29,609 35,506 12,272 5,361 17,263 10,328
Commission to distributors 33,449 31,084 67,293 37,091 190,510 83,179
Audit fee 186 221 173 166 176 146
Marketing expenses - 5,733 - 3 - 14
Other operating expenses 7,030 8,749 1,688 1,550 2,276 1,404
Total 654,728 422,866 295,374 115,277 703,216 470,177
Surplus / (Deficit) for the year/ period 9,930,679 19,104,483 4,375,873 2,054,928 12,248,746 8,258,608
Transfer from / (to) unrealised appreciation
reserve 73,345 14,237 (177,827) 47,778 (182,566) (1,465,311)
Equalisation (debit) / credit 2(e) 3,763,876 (16,893,579) 22,600,667 14,702,782 17,440,349 38,208,680
Transfer from retained surplus 38,673 263,358 18,220 11,249 78,273 28,563
Dividend distribution (260,403) (1,484,246) (76,667) (108,948) (106,835) (99,539)
Dividend distribution tax on dividend
distribution 256 (669,074) 1 (45,187) - (41,306)
Net Surplus / (Deficit) transferred to the
retained surplus 4 13,546,426 335,179 26,740,267 16,662,602 29,477,967 44,889,695
Significant accounting policies and notes 1 to 21

to accounts
The accompanying schedules are an integral part of this revenue account.


Sachin Jain

75
Revenue Account
AXIS SHORT TERM AXIS SHORT TERM AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC
FUND FUND BOND FUND BOND FUND BOND FUND BOND FUND
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) - - - - - -
Interest 2(d) & 8 6,640,207 2,518,351 767,012 1,013,906 716,515 151,806
(including derivatives), net 2(d) 356,961 315,368 26,213 - 6,994 19,019
investments, net 2(d) 309,964 151,757 60,598 5,053 4,446 323
Load income 2(g) - - 8,511 3,409 11 19
Other income 495 1,360 5 5,250 (466) 11
in value of investments 2(c) & 6(ii) (280,537) 175,549 (51,165) 181,794 (161,627) 111,829
Total 7,027,090 3,162,385 811,174 1,209,412 565,873 283,007
EXPENSES AND LOSSES

(including derivatives), net 2(d) - - - 206,804 - -
Management fee 9 221,525 74,894 29,589 33,175 18,283 6,524
Trusteeship fee 9 415 160 41 60 43 9
Investor education expense 20,490 6,766 2,014 2,446 2,090 408
Custodian service charges 4,217 1,719 425 634 429 103
Registrar service charges 37,982 13,024 3,754 4,722 3,867 791
Audit fee 180 176 91 136 160 131
Marketing expenses 19,999 123 - 3 - -
Other operating expenses 2,140 941 209 372 411 136
Total 553,662 173,670 90,974 315,648 44,712 15,837
Surplus / (Deficit) for the year/ period 6,473,428 2,988,715 720,200 893,764 521,161 267,170
reserve 177,079 (175,549) 51,165 (107,264) 102,287 (102,287)
Equalisation (debit) / credit 2(e) 33,495,773 7,884,357 407,875 (482,915) 6,714,738 1,642,703
Transfer from retained surplus 8,858 9,026 6,276 1,824 2,862 1,831
Dividend distribution (47,959) (26,341) (6,345) (6,263) (4,718) (2,430)
distribution - (11,218) - (2,431) - (943)
retained surplus 4 40,107,179 10,668,990 1,179,171 296,715 7,336,330 1,806,044

to accounts


Sachin Jain

76
Revenue Account
AXIS OVERNIGHT AXIS OVERNIGHT AXIS REGULAR AXIS REGULAR

AXIS GILT FUND AXIS GILT FUND
FUND FUND SAVER FUND SAVER FUND
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) - - 2,504 4,616 - -

Interest 2(d) & 8 1,423,404 527,861 95,627 118,881 84,088 29,187
(including derivatives), net 2(d) - - 70,821 - 21,358 24,858
investments, net 2(d) - - (16) 1 10 1,462
Load income 2(g) - - 839 702 - -
Other income 166 258 1 - - -
in value of investments 2(c) & 6(ii) - - 197,738 (98,724) (5,674) 4,072
Total 1,423,570 528,119 367,514 25,476 99,782 59,579
EXPENSES AND LOSSES

(including derivatives), net 2(d) - - - 57,436 - -
Management fee 9 12,059 4,197 21,875 25,831 4,774 544
GST on management fees 2,170 756 3,938 4,650 860 98
Trusteeship fee 9 189 51 8 11 6 2
Investor education expense 9,206 2,334 380 444 300 88
Custodian service charges 1,921 567 94 131 63 22
Registrar service charges 4,843 1,262 745 934 566 171
Commission to distributors 3,864 566 15,201 16,507 2,519 853
Audit fee 73 65 89 131 72 65
Marketing expenses - - - 1 - -
Other operating expenses 721 337 100 373 165 68
Total 35,046 10,135 42,430 106,449 9,325 1,911
Surplus / (Deficit) for the year/ period 1,388,524 517,984 325,084 (80,973) 90,457 57,668
reserve - - (197,738) 98,725 5,674 (4,073)
Equalisation (debit) / credit 2(e) 1,076,730 1,417,566 109,951 (394,641) 403,723 106,511
Transfer from retained surplus 232 3 1,906 1,244 1,168 193
Dividend distribution (4,722) (16,350) (1,906) (893) (1,682) (492)
distribution (8) (7,187) - (351) - (191)
retained surplus 4 2,460,756 1,912,016 237,297 (376,889) 499,340 159,616

to accounts


Sachin Jain

77
Revenue Account
AXIS CREDIT RISK AXIS CREDIT RISK AXIS CORPORATE AXIS CORPORATE
AXIS GOLD FUND AXIS GOLD FUND
FUND FUND DEBT FUND DEBT FUND
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) - - - - - -
Interest 2(d) & 8 1,859 781 538,547 1,181,692 1,155,914 148,429
(including derivatives), net 2(d) - - - - - -
investments, net 2(d) - - 7,007 13,293 17,870 9,301
Load income 2(g) 6,421 941 5,140 12,371 59 316
Other income 1 - 4 5,236 96 -
in value of investments 2(c) & 6(ii) (175,668) 178,548 40,661 108,470 (136,065) 1,672
Total (167,387) 180,270 591,359 1,321,062 1,037,874 159,718
EXPENSES AND LOSSES

(including derivatives), net 2(d) - 51 82,486 590,053 47,140 46,462
Management fee 9 - - 51,664 132,268 33,596 4,921
GST on management fees - - 9,300 23,808 6,048 886
Investor education expense 346 110 1,276 2,776 3,850 412
Custodian service charges 72 28 276 724 762 108
Registrar service charges 742 217 2,387 5,357 7,066 818
Commission to distributors 2,334 887 32,947 53,584 62,537 9,534
Audit fee 65 33 163 138 150 131
Marketing expenses 1,300 - - 3 - -
Total 5,625 1,601 180,624 809,064 161,507 63,449
Surplus / (Deficit) for the year/ period (173,012) 178,669 410,735 511,998 876,367 96,269
reserve 172,969 (172,969) (36,031) - 12,329 (1,672)
Equalisation (debit) / credit 2(e) (234,790) (20,980) (1,748,216) (1,865,582) 7,384,063 (49,880)
Transfer from retained surplus - - 1,059 2,387 400 400
Dividend distribution - - (4,605) (5,104) (2,974) (3,030)
distribution - - - (2,062) - (1,344)
retained surplus 4 (234,833) (15,280) (1,377,058) (1,358,363) 8,270,185 40,743

to accounts


Sachin Jain

78
Revenue Account
AXIS ALL SEASONS AXIS ALL SEASONS

AXIS ULTRA SHORT AXIS ULTRA SHORT AXIS MONEY AXIS MONEY
DEBT FUND OF DEBT FUND OF
TERM FUND TERM FUND MARKET FUND MARKET FUND
FUNDS FUNDS
April 01, 2020 April 01, 2019 April 01, 2020 August 06, 2019 April 01, 2020 January 28, 2020
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) - - - - - -
Interest 2(d) & 8 2,381,123 2,031,112 653,574 187,492 512 348
(including derivatives), net 2(d) - 15,060 36,122 10,281 25,539 -
investments, net 2(d) 12,942 4,801 1,985 - - -
Load income 2(g) - - - - 791 463
Other income 4 10 (215) - - -
in value of investments 2(c) & 6(ii) 31,840 (52,713) 18,684 (7,549) 29,081 8,956
Total 2,425,909 1,998,270 710,150 190,224 55,923 9,767
EXPENSES AND LOSSES

(including derivatives), net 2(d) 137,908 - - - - 458
Management fee 9 98,907 62,071 16,028 2,936 966 102
GST on management fees 17,804 11,174 2,884 528 174 18
Investor education expense 8,532 5,372 2,962 580 152 22
Custodian service charges 1,783 1,363 605 145 32 5
Registrar service charges 16,009 10,629 1,557 321 284 41
Commission to distributors 238,061 158,053 3,220 561 394 47
Audit fee 146 135 133 130 66 38
Marketing expenses - 184 - - - -
Other operating expenses 1,455 1,254 235 178 47 8
Total 520,778 250,361 27,684 5,393 2,118 740
Surplus / (Deficit) for the year/ period 1,905,131 1,747,909 682,466 184,831 53,805 9,027
reserve (6,205) 27,079 (11,134) - (29,081) (8,956)
Equalisation (debit) / credit 2(e) 2,277,973 584,369 1,168,520 24,112 6,916 588
Transfer from retained surplus 10,077 2,140 378 - - -
Dividend distribution (72,194) (87,350) (1,065) (1,851) - -
distribution - (35,822) - (785) - -
retained surplus 4 4,114,782 2,238,325 1,839,165 206,307 31,640 659

to accounts


Sachin Jain

79
Cash Flow Statement

Particulars
to to to to to to
A. Cashflow from operating activities
Surplus / (Deficit) for the year/ period 9,930,679 19,104,483 4,375,873 2,054,928 12,248,746 8,258,608
Interest expense on borrowing 76,852 565,807 - - - -
Net change in marked to market gain / loss in value of
investments 73,346 14,237 (206,158) 76,109 (182,566) (1,465,311)
Operating surplus/(deficit) before working capital
changes 10,080,877 19,684,527 4,169,715 2,131,037 12,066,180 6,793,297
Adjustments for:-
(Increase)/Decrease in investments at cost 5,301,902 41,946,018 (33,429,996) (28,735,472) (25,495,661) (85,760,423)
(Increase)/Decrease in other current assets 885,751 (754,705) (334,739) (801,069) (1,216,459) (2,350,671)
Increase/(Decrease) in current liabilities 74,052 4,350 17,407 (15,343) 3,619 2,778
Net cash generated from / (used in) operations (A) 16,342,582 60,880,190 (29,577,613) (27,420,847) (14,642,321) (81,315,019)
B Cashflow from financing activities

Increase/(Decrease) in unit capital (3,853,219) (17,932,805) 15,514,783 12,478,329 14,462,390 42,398,313
Increase/(Decrease) in unit premium reserve 8,242,392 (9,209,252) 23,354,571 15,013,994 13,833,926 34,903,858
Proceeds from borrowing 245,345,516 2,149,437,733 - - -
Repayment of borrowing (290,659,988) (2,139,020,669) - - - -
Interest paid on borrowing (134,478) (529,672) - - - -
Dividend paid (including tax thereon) (262,050) (754,657) (9,063) (49,092) (84,919) (77,099)
Net cash generated from / (used in) financing

activities (B) (41,321,827) (18,009,322) 38,860,291 27,443,231 28,211,397 77,225,072
Net Increase/(Decrease) in cash and cash

equivalents (A) + (B) (24,979,245) 42,870,868 9,282,678 22,384 13,569,076 (4,089,947)
Cash and cash equivalents as at the beginning of the

year 43,178,181 307,313 440,219 417,835 391,904 4,481,851
Cash and cash equivalents as at the end of the year 18,198,936 43,178,181 9,722,897 440,219 13,960,980 391,904
Component of cash and cash equivalents March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Balances with banks in current accounts 252,562 3,363,918 89,309 39,554 10,086,721 207,108
Reverse Repo and Tri-Party Repo 17,946,374 39,814,263 9,633,588 400,665 3,874,259 184,796
Total 18,198,936 43,178,181 9,722,897 440,219 13,960,980 391,904
The above cash flow statement is prepared under the "Indirect Method" as set out in Accounting Standard (AS) - 3 'Cash Flow Statements'.


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80
Cash Flow Statement

AXIS SHORT TERM AXIS SHORT TERM AXIS STRATEGIC AXIS STRATEGIC
AXIS OVERNIGHT AXIS OVERNIGHT
FUND FUND BOND FUND BOND FUND
Particulars FUND FUND
to to to to to to
Surplus / (Deficit) for the year/ period 6,473,428 2,988,715 720,200 893,764 1,388,524 517,984
Interest expense on borrowing - - - - - -
investments 280,537 (175,549) 51,165 (181,794) - -
changes 6,753,965 2,813,166 771,365 711,970 1,388,524 517,984
Adjustments for:-
(Increase)/Decrease in investments at cost (63,714,447) (16,710,034) (123,735) 140,320 - -
(Increase)/Decrease in other current assets (1,174,715) (691,758) 105,610 (24,235) (100,682) 2,036,834
Increase/(Decrease) in current liabilities 21,824 (14,197) 10,066 (428) 30,493 14,349
Net cash generated from / (used in) operations (A) (58,113,373) (14,602,823) 763,306 827,627 1,318,335 2,569,167

Increase/(Decrease) in unit capital 25,983,102 7,068,963 8,294 (457,666) 14,635,340 33,271,801
Increase/(Decrease) in unit premium reserve 36,325,367 8,345,882 488,453 (525,462) 1,082,351 1,412,903
Proceeds from borrowing - - - - - -
Repayment of borrowing - - - - - -
Interest paid on borrowing - - - - - -
Dividend paid (including tax thereon) (31,075) (17,725) (5,151) (8,102) (481) (23,041)

activities (B) 62,277,394 15,397,120 491,596 (991,230) 15,717,210 34,661,663

equivalents (A) + (B) 4,164,021 794,297 1,254,902 (163,603) 17,035,545 37,230,830

year 1,345,308 551,011 30,070 193,673 37,230,830 -
Cash and cash equivalents as at the end of the year 5,509,329 1,345,308 1,284,972 30,070 54,266,375 37,230,830
Component of cash and cash equivalents March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Balances with banks in current accounts 103,830 97,153 4,132 2,435 112,721 118,281
Reverse Repo and Tri-Party Repo 5,405,499 1,248,155 1,280,840 27,635 54,153,654 37,112,549
Total 5,509,329 1,345,308 1,284,972 30,070 54,266,375 37,230,830


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81
Cash Flow Statement

AXIS ULTRA
AXIS CREDIT RISK AXIS CREDIT RISK SHORT TERM AXIS ULTRA SHORT
Particulars FUND FUND FUND TERM FUND
April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019
to to to to
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Surplus / (Deficit) for the year/ period 410,735 511,998 1,905,131 1,747,909
Interest expense on borrowing - - - -
investments (40,661) (108,470) (31,840) 52,713
changes 370,074 403,528 1,873,291 1,800,622
Adjustments for:-
(Increase)/Decrease in investments at cost 4,814,898 5,719,477 (21,254,279) (13,726,026)
(Increase)/Decrease in other current assets 135,132 173,444 280,441 187,221
Increase/(Decrease) in current liabilities (7,299) (52,271) 4,561 37,232
Net cash generated from / (used in) operations (A) 5,312,805 6,244,178 (19,095,986) (11,700,951)

Increase/(Decrease) in unit capital (3,393,596) (4,326,250) 15,556,238 13,626,035
Increase/(Decrease) in unit premium reserve (1,791,091) (1,925,699) 2,361,176 651,476
Proceeds from borrowing - - - -
Repayment of borrowing - - - -
Interest paid on borrowing - - - -
Dividend paid (including tax thereon) (3,867) (6,377) (9,823) (38,243)

activities (B) (5,188,554) (6,258,326) 17,907,591 14,239,268

equivalents (A) + (B) 124,251 (14,148) (1,188,395) 2,538,317

year 19,607 33,755 2,538,317 -
Cash and cash equivalents as at the end of the year 143,858 19,607 1,349,922 2,538,317
Component of cash and cash equivalents March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Balances with banks in current accounts 1,275 4,062 314,745 92,755

Reverse Repo and Tri-Party Repo 142,583 15,545 1,035,177 2,445,562
Total 143,858 19,607 1,349,922 2,538,317


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82
Schedules to the financial statements for the year ended March 31, 2021
1. (a) BACKGROUND
Axis Bank Limited is the sponsor of Axis Mutual Fund ('The Fund').
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual Fund
Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25% plus one
equity share is held by Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders Singapore Holdings Private Limited
(SSHPL), both subsidiaries of Schroders plc.
The key features of the following schemes of Axis Mutual Fund are as below:
Scheme Name Type of Scheme Investment objective of the Scheme NFO Open Options
NFO Close
Axis Liquid Fund An Open-ended Liquid To provide a high level of liquidity with reasonable October 8, 2009 Retail Growth
Scheme returns commensurating with low risk through a to Retail Daily IDCW
portfolio of money market and debt securities. October 8, 2009 Retail Weekly IDCW
However, there can be no Retail Monthly IDCW
assurance that the investment objective of the Regular Growth
Scheme will be achieved. Regular Daily IDCW
Regular Weekly IDCW
Regular Monthly IDCW
Regular Bonus
Direct Growth
Direct Daily IDCW
Direct Weekly IDCW
Direct Monthly IDCW
Direct Bonus
Axis Treasury Advantage Fund An open ended low duration The investment objective is to provide optimal October 8, 2009 Retail Growth
debt scheme investing in returns and liquidity to the investors by to Retail Daily IDCW
instruments such that the investing primarily in a mix of money market and October 8, 2009 Retail Weekly IDCW
Macaulay duration of the short term debt instruments which results Retail Monthly IDCW
portfolio is in a portfolio having marginally higher maturity as Regular Growth
between 6 to 12 months compared to a liquid fund at the same Regular Daily IDCW
time maintaining a balance between safety and Regular Weekly IDCW
liquidity. However, there can be no Regular Monthly IDCW
assurance that the investment objective of the Regular Bonus
scheme will be achieved. Direct Growth
Direct Daily IDCW
Direct Weekly IDCW
Direct Monthly IDCW
Direct Bonus
Axis Banking & PSU Debt Fund An open ended debt scheme To generate stable returns by investing May 30, 2012 Regular Growth
predominantly investing in predominantly in debt & money market instruments to Regular Daily IDCW
debt instruments of banks, issued by Banks, Public Sector Units (PSUs) & June 7, 2012 Regular Weekly IDCW
Public Sector Undertakings & Public Financial Institutions (PFIs). The scheme Regular Monthly IDCW
Public Financial Institutions. shall endeavor to generate optimum returns with Regular Bonus
low credit risk. Direct Growth
Direct Daily IDCW
Direct Weekly IDCW
Direct Monthly IDCW
Direct Bonus
Axis Short Term Fund An open ended short term The scheme will endeavor to generate stable January 19, 2010 Regular Bonus
debt scheme investing in returns with a low risk strategy while to Regular Growth
instruments such that the maintaining liquidity through a portfolio comprising January 20, 2010 Regular Weekly IDCW
Macaulay duration of the of debt and money market Regular Monthly IDCW
portfolio is instruments. However, there can be no assurance Regular IDCW
between 1 year to 3 years that the investment objective of the Retail Growth
scheme will be achieved. Retail Monthly IDCW
Retail Weekly IDCW
Direct Bonus
Direct Growth
Direct Weekly IDCW
Direct Monthly IDCW
Direct Regular IDCW
Axis Strategic Bond Fund An open ended medium term To generate optimal returns in the medium term March 09, 2012 Regular Growth
debt scheme investing in while maintaining liquidity of the portfolio by to Regular Quarterly IDCW
instruments such that the investing in debt and money market instruments. March 21, 2012 Regular Half Yearly IDCW
Macaulay duration of the Regular Bonus
portfolio is Direct Growth
between 3 years to 4 years Direct Quarterly IDCW
Direct Half Yearly IDCW
Direct Bonus
Axis Dynamic Bond Fund An open ended dynamic debt To generate optimal returns while maintaining April 6, 2011 Regular Growth
scheme investing across liquidity through active management of a portfolio of to Regular Quarterly IDCW
duration. debt and money market instruments. April 20, 2011 Regular Half Yearly IDCW
Regular Bonus
Direct Growth
Direct Quarterly IDCW
Direct Bonus
83
NFO Close
Axis Overnight Fund An Open-ended Overnight The investment objective of the Scheme is to March 7, 2019 Regular Growth
Scheme provide reasonable returns commensurate with to Regular Quarterly IDCW
very low interest rate risk and providing a high level March 15, 2019 Regular Half Yearly IDCW
of liquidity, through investments made primarily in Regular Bonus
overnight securities having maturity/residual Direct Growth
maturity of 1 business day. Direct Quarterly IDCW
Direct Bonus
Axis Regular Saver Fund An open ended hybrid The Scheme seeks to generate regular income May 24, 2010 Regular Growth
scheme investing through investments in debt & money market to Regular Quarterly IDCW
predominantly in debt instruments, along with capital appreciation through June 21, 2010 Regular Half Yearly IDCW
instruments. limited exposure to equity and equity related Regular Annual IDCW
instruments Direct Growth
Direct Annual IDCW
Axis Gilt Fund An open ended debt scheme The Scheme will aim to generate credit risk-free January 10, 2012 Regular Growth
investing in government returns through investments in sovereign securities to Regular IDCW
securities across maturity issued by the January 19, 2012 Regular Half Yearly IDCW
Central Government and/or State Government. Regular Bonus
Direct Growth
Direct Regular IDCW
Direct Bonus
Axis Gold Fund An open ended fund of fund To generate returns that closely correspond to September 30, Regular Growth
scheme investing in Axis Gold returns generated by Axis Gold ETF. 2011 Regular IDCW
ETF. to Direct Growth
October 14, 2011 Direct IDCW
Axis Credit Risk Fund An open ended debt scheme To generate stable returns by investing in debt & June 25, 2014 Regular Growth
predominantly investing in AA money market instruments across the yield curve & to Regular Weekly IDCW
and below rated corporate credit spectrum. However, there is no assurance or July 9, 2014 Regular Monthly IDCW
bonds (excluding AA+ rated guarantee that the investment objective of the Direct Growth
corporate bonds) Scheme will be achieved. The Scheme does not Direct Weekly IDCW
assure or guarantee any returns. Direct Monthly IDCW
Axis Corporate Debt Fund An open ended debt scheme The Scheme seeks to provide steady income and June 23, 2017 Regular Growth
predominantly investing in capital appreciation by investing in corporate debt. to Regular Daily IDCW
AA+ and above rated There is no assurance or guarantee that the July 7, 2017 Regular Weekly IDCW
corporate bonds. objectives of the Scheme will be realized. Regular Monthly IDCW
Regular IDCW
Direct Growth
Direct Daily IDCW
Direct Weekly IDCW
Direct Monthly IDCW
Direct Regular IDCW
Axis Ultra Short Term Fund An open ended ultra-short The investment objective of the Scheme is to August 27, 2018 Regular Growth
term debt scheme investing in generate regular income and capital appreciation by to Regular Daily IDCW
instruments such that the investing in a portfolio of short term debt and money September 4, 2018 Regular Weekly IDCW
Macaulay duration of the market instruments with relatively lower interest Regular Monthly IDCW
portfolio is between 3 months rate risk such that Macaulay duration of the portfolio Regular IDCW
and 6 months. is between 3 months and 6 months. Direct Growth
Direct Daily IDCW
Direct Weekly IDCW
Direct Monthly IDCW
Direct Regular IDCW
Axis Money Market Fund Axis Money Market Fund (An The investment objective of the Scheme is to July 26, 2019 Direct Daily IDCW
open ended debt scheme generate regular income through investment in a to Direct Growth
investing in money market portfolio comprising of money market instruments. August 1, 2019 Direct Monthly IDCW
instruments) However, there can be no assurance that the Direct Plan Annual IDCW option
investment objective of the Scheme will be Direct Plan Quarterly IDCW option
achieved. Regular Annual IDCW option
Regular Daily IDCW
Regular Growth
Regular Plan Quarterly IDCW
84
NFO Close
Axis All Seasons Debt Fund of Axis All Seasons Debt Fund of The investment objective of the Scheme to January 10, 2020 Direct Annual IDCW
Funds Funds (An open ended fund of generate optimal returns over medium term by to Direct Growth
funds scheme investing in investing primarily in debt oriented mutual fund January 22, 2020 Direct Half Yearly IDCW
debt oriented mutual fund schemes. However, there can be no assurance Direct Monthly IDCW
schemes) that the investment objective of the Scheme will be Direct Quarterly IDCW
achieved Direct Regular IDCW
Regular Annual IDCW
Regular Growth
Regular Half Yearly IDCW
Regular Plan Regular IDCW
Regular Quarterly IDCW
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other,
or are interdependent or comparable in any way.
All the above schemes have been collectively referred to as "Schemes".
(b) Impact of COVID 19 Pandemic
The coronavirus pandemic prevailing in India and across countries during the year ended and post 31 March 2021 is considered as a significant event. As at the date of signing
of these financial statements, the COVID-19 crisis is still un-folding, and the full impact of the coronavirus is not capable of being qualitatively or quantitatively assessed on the
businesses of the investee companies. Management of Axis Mutual Fund has made attempts to ensure that adequate liquidity and quality of portfolio has been maintained. Even
during the pandemic period, management of the Fund had succeeded in achieving a significant growth in the SIP AUM and the highest Equity AUM as on March 31, 2021
amongst the industry peers. During the year, the Fund has also witnessed a significantly increase total AUM from Rs. 1.16 Lakh crores as on March 31, 2020 to Rs. 1.91 Lakh
crores as on March 31, 2021. Service providers like the Registrar and Transfer Agent, Custodian and Fund Accountant have carried out extensive arrangements to address
business needs and continuity of operations have been achieved by the management all throughout ever since this pandemic has unfolded . Regulators and industry bodies
supported the industry, and also permitted certain relaxations in regulatory requirements. Considering the steps taken by the Government of India in controlling the pandemic,
and with vaccine now been available against Covid-19, management of Axis Mutual Fund see the spread of virus being controlled in near future, resulting into smooth business
functioning across all sectors.
As on the date of signing of these financial statements, management of Axis Mutual Fund believes there are no subsequent events indicating any significant impact on the
operations of the Axis Mutual Fund, the going concerns of any of its Schemes for a foreseeable future and on the fair values of all debt and other investments held by all its
schemes as of the Balance Sheet date as a result of prevailing coronavirus pandemic.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-market’. The
significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the Trustee, are stated
below.
(a) Determination of net asset value ('NAV')
The net asset value of the units are determined separately for the units issued under the Options.
For reporting the net asset value within the portfolio,the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments, and
expenses accrued, are allocated to the related options in proportionto their respective daily net assets arrived at by multiplyingday-end outstandingunits by previous day's closing
NAV.
(b) Unit capital and unit premium reserve

Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period ended on that date.
Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each plan/Option, after adjusting an
appropriate portion of the sale or re-purchase price to the income equalisation account (in case of open-ended schemes).
(c) Investments
Accounting for investments
Transactions for purchase and sale of investments are recorded on trade date.
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage,transaction costs, CCIL charges, STT
and any other charges customarily included in the broker’s note. Capitalisationof such brokerageand transaction costs incurred for the purpose of execution of trades is restricted
to 12 bps in case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue account of the
scheme as part of the total expense ratio.
Front end discount received on privately placed debt instruments is reduced from the cost of the investment.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and debited
to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued Income Account’.
Investments in foreign securities are accounted by converting the foreign currency into Indian Rupees at the closing exchange rate as per RBI prevailing on the trade date.
Differences in settlement amount on account of difference in exchange rate on the settlement date is recognised as foreign exchange gain /loss in revenue account.
Rights entitlements are recognised as investments on the ex-rights date.
Bonus entitlements are recognised as investments on the ex-bonus date.
Other corporate actions (such as Merger, demerger etc.) are recorded on the ex-date.
Valuation of investments
All investments are stated at their market / fair value at the balance sheet date.
Traded equity and equity related securities are valued at the last quoted closing price on the The National Stock Exchange of India Limited (Principal Stock Exchange). Where
security is not traded on the Principal Stock Exchange, the last quoted closing price of The Bombay Stock Exchange Limited is used.. If an equity and equity related security is not
traded on any stock exchange on a particular valuation day, the value at which it was traded on the principal stock exchange or any other stock exchange, as the case may be, on
the earliest previous day may be used, provided such date is not more than thirty days prior to valuation date.
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Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on valuation date on
the respective stock exchange, settlement price is considered for valuation.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined by the
AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Valuation of 'To be Listed' equity shares and equity related instruments (Pre-Public Offering) are done as follows:
• Valuation is done at cost till the date of IPO or 60 days from the date of investment – whichever is earlier; and
• If such shares do not get listed on recognised stock exchange within 60 days, shares will be valued as per methodology prescribed in SEBI regulation for unlisted equity shares.
Valuation of equity and equity related instrument under lock-in period (post listing) is done based on last quoted closing price after applying suitable discount for illiquidity as
approved by the valuation committee.
Investments in foreign securities (including American Depository Receipts) are valued based on the last closing prices at the overseas stock exchange on which the respective
securities are listed. If a security is listed on overseas stock exchange which is in a time zone ahead of India, then the same day’s closing price on such overseas stock exchange
is used in valuation. If a security is listed on overseas stock exchange which is in a time zone behind India, then the previous day’s closing price or same day's closing price at 5
pm IST on such overseas stock exchange is used in valuation When on a particular valuation day, a security has not been traded on the selected stock exchange; the value at
which it is traded on another pre-approved stock exchange will be used.
In case of American Depository Receipts which are traded in OTC (over the counter) market, the closing price in OTC market is considered for valuation.
Price of foreign security is converted to INR based on reference rate as per FBIL at the close of banking hours in India.
Non traded foreign securities and American Depository Receipts, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as
determined by the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Valuation of Yes Bank shares (Lock-in for 3 years): W.e.f. March 16, 2020, 75% of shares (Lock-in for 3 years) valued at "Zero". Remaining 25% of shares (available for trading)
is valued as per existing valuation policy of equity and equity related securities.
Interest Rate Futures (IRF) are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on
valuation date on the respective stock exchange, settlement price is considered for valuation. IRF contracts, which are going to expire on valuationdate are valued at settlement price.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as on the valuation
date. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFIwebsite as on the valuation
date.
Valuation of investments in money market and debt securities (including government securities and tbills):
As at 31 March 2021, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices obtained from the
valuation agencies (i.e. CRISIL and ICRA). In case of new purchases, which are not a part of the security level pricing of valuation agencies, such securities are valued at purchase
yield on the day of purchase.
Changes to the valuation policy during the period reported are in accordance with SEBI regulations and circulars issued thereunder are as follows:
During the reporting periods, Government Securities (excluding tbills) are valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and
ICRA).
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity up to 60 days, were valued on the basis of
amortized cost based on purchase price and subsequent trade price or last valuation price whichever is latest, which includes discount / premium accrued on a straight line basis
over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the valuation agencies. In case the
amortized value is outside the above band, the price of the security is adjusted to bring the price within the ±0.10% band.
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity greater than 60 days, were valued at the
average of the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of
valuation agencies, such securities were valued at weighted average cost/yield on the day of purchase.
From June 20, 2019 to September 24, 2019, treasury bills were valued, as follows:
- Tbills with residual maturity up to 30 days, are valued on the basis of amortized cost based on purchase price and subsequent trade price (considered till September 24, 2019)
or last valuation price whichever is latest, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a
±0.025% band of the price derived as per the reference yields provided by the valuation agencies. In case the amortized value is outside the above band, the price of the security is
adjusted to bring the price within the ±0.025% band.
- Tbills with residual maturity greater than 30 days, were valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA).
From June 20, 2019 to June 29, 2020, all money market and debt securities (excluding government securities and tbills) with residual maturity up to 30 days, were valued on the
basis of amortized cost based on purchase price and subsequent trade price (considered till September 24, 2019) or last valuation price whichever is latest, which includes
discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.025% band of the price derived as per the reference yields
provided by the valuation agencies. In case the amortized value is outside the above band, the price of the security is adjusted to bring the price within the ±0.025% band.
From June 20, 2019 to June 29, 2020, all debt securities with residual maturity greater than 30 days, were valued at the average of the security level prices obtained from the
valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of valuation agencies, such securities are valued at weighted
average cost/yield (from September 25, 2019 at purchase yield) on the day of purchase.
W.e.f. June 30, 2020, all money market and debt securities (including government securities and tills) are valued at the average of the security level prices obtaioned from the
valuation agencies (i.e. CRISIL and ICRA).. In case of new purchases which are not a part of the security level pricing of valuation agencies, such securities are valued at purchase
yield on the day of purchase.
Up to December 22, 2019, Tri-party repo/Reverse repo/Corporate Bond Repo (irrespective of maturity), are valued at cost plus accrual basis.
I.e.. December 23, 2019, Tri-party repo/Reverse repo/Corporate Bond Repo with residual maturity up to 30 days, are valued at cost plus accrual basis and Tri-party repo/Reverse
repo/Corporate Bond Repo with residual maturity greater than 30 days, are valued at average of security level prices obtained from valuation agencies. In case security level
prices given by valuation agencies are not available (which is currently not held by any Mutual Fund), then such securities are valued at purchase yield on the date of purchase.
From May 20, 2019 to June 03, 2019, In case of debt securities or money market instruments of an issuer are rated below investment grade while others of a similar seniority are
retained at investment grade, AMC applied the appropriate haircut on such securities if an appropriate discount is not already captured by the valuation agencies.
Security classified as “below investment grade” and “Default” are valued at the average of the security level prices obtaioned from the valuation agencies (i.e. CRISIL and ICRA).
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As per SEBI circular dated April 23, 2020, the securities, wherein issuers have rescheduled the payment towards principal/interest solely due to COVID-19 pandemic lockdown
and/or in light of the moratorium permitted by Reserve Bank of India (RBI), are being valued at the conservative price obtained from valuation agencies.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance sheet
dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.
(d) Revenue recognition

Income on investments is recognized on accrual basis except where there is uncertainty about ultimate recovery / realization. Such income is recognised when the uncertainty is resolved.
For quoted shares, the dividend income earned by a scheme is recognized on the date the share is quoted on an ex-dividend basis. For investments in shares which are not
quoted on the stock exchanges, the dividend income is recognised on the date of declaration.
Interest income is recognised on an accrual basis. In respect of discounted securities, the discount to redemption value is amortized and recognised as interest income equally over
the period to redemption.
Profit or loss on sale/redemption of investments is determined on the basis of the weighted average cost method.
(e) Equalisation account

In case of open-ended scheme, when units are purchased / sold by the Scheme at NAV based price, amount representing unrealised appreciation per unit and unit premium
reserve per unit is credited to Unit Premium Reserve.
The balance amount of the purchase / sale price after reducing the face value of unit is transferred to Income Equalisation account and the net balance in this account is credited
or debited to the Revenue Account at the year end.
(f) Loans (borrowings)

The schemes may borrow to meet redemptions or for other permitted reasons up to 20% of net assets (at the time of borrowing) for a period of up to six months. Within such
intended period of borrowing (which is documented at the time of borrowing), the composition of borrowing (e.g. bank loans, TREPS, etc.) may change during the period
depending on availability of borrowing facility and the rate of interest.
The cost of borrowing in line with the policy has been adjusted against the interest income for the year or has been borne by the AMC, wherever applicable.
(g) Load
Exit load (net of GST) collected is recognized as income and credited to the scheme, wherever applicable.
(h) Cash and cash equivalent

Cash and cash equivalentsinclude balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three months) and Tri-Party
Repo (including reverse repurchase transactions).
(i) Cash Flow Statements

Cash Flow Statement has been prepared in accordance with accounting standard 3 'Cash Flow Statements' for applicable schemes.
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3. Unit Capital Rupees in '000
AXIS LIQUID FUND AXIS LIQUID FUND AXIS TREASURY ADVANTAGE FUND AXIS TREASURY ADVANTAGE FUND
Face Value Rs. 1000 each fully paid up Face Value Rs. 1000 each fully paid up Face Value Rs. 1000 each fully paid up Face Value Rs. 1000 each fully paid up
Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Initial Capital 5,292,768.000 5,292,768 5,292,768.000 5,292,768 12,442,169.075 12,442,169 12,442,169.075 12,442,169
Outstanding Unit Capital
Retail Growth
Outstanding, beginning of year/period 1,766.352 1,767 1,796.546 1,797 7,431.521 7,430 8,314.122 8,313
Issued
-during the year/period - - - - - - - -
Redeemed during the year/period 318.523 319 30.194 30 750.891 751 882.601 883
Outstanding, end of year/period 1,447.829 1,448 1,766.352 1,767 6,680.630 6,679 7,431.521 7,430
Regular IDCW
Outstanding, beginning of year/period - - - - - - - -
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - - - - -
Outstanding, end of year/period - - - - - - - -
Retail Daily IDCW

Outstanding, beginning of year/period 330.496 331 330.496 331 12,885.682 12,887 15,463.180 15,465
Issued
-during the year/period - - - - - - 0.004 -
Redeemed during the year/period - - - - 839.723 840 2,577.502 2,578
Outstanding, end of year/period 330.496 331 330.496 331 12,045.959 12,047 12,885.682 12,887
Retail Weekly IDCW

Outstanding, beginning of year/period 109.314 110 109.314 110 634.648 634 797.308 797
Issued
-during the year/period - - - - - - 0.007 -
Redeemed during the year/period - - - - 49.381 49 162.667 163
Outstanding, end of year/period 109.314 110 109.314 110 585.267 585 634.648 634.000
Retail Monthly IDCW

Outstanding, beginning of year/period 11.993 13 11.993 13 124.032 124 135.886 136
Issued
Redeemed during the year/period - - - - - - 11.854 12
Outstanding, end of year/period 11.993 13 11.993 13 124.032 124 124.032 124.000
Regular Growth
Outstanding, beginning of year/period 32,558,142.438 32,558,143 31,728,403.373 31,728,404 5,669,387.623 5,669,387 2,458,654.779 2,458,654
Issued
-new fund offer - - - - - - - -
-during the year/period 173,851,805.083 173,851,805 603,155,423.232 603,155,423 20,439,647.091 20,439,647 11,686,680.061 11,686,680
Redeemed during the year/period 177,068,603.246 177,068,603 602,325,684.167 602,325,684 14,179,386.563 14,179,387 8,475,947.217 8,475,947
Outstanding, end of year/period 29,341,344.275 29,341,345 32,558,142.438 32,558,143 11,929,648.151 11,929,647 5,669,387.623 5,669,387
Regular Daily IDCW

Outstanding, beginning of year/period 4,212,504.537 4,212,508 12,523,149.580 12,523,153 1,111,678.461 1,111,678 953,800.643 953,800
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 855,600.638 855,604 4,212,504.537 4,212,508 388,682.710 388,682 1,111,678.461 1,111,678
Regular Weekly IDCW

Outstanding, beginning of year/period 629,776.063 629,778 1,838,355.272 1,838,357 232,810.046 232,808 226,152.387 226,151
Issued
-during the year/period 364,934.805 364,935 9,978,139.156 9,978,139 64,326.448 64,326 542,439.383 542,439
Redeemed during the year/period 820,092.608 820,093 11,186,718.365 11,186,718 240,766.451 240,766 535,781.724 535,782

Outstanding, beginning of year/period 1,307,516.275 1,307,516 1,713,496.681 1,713,497 180,066.162 180,065 168,613.527 168,613
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 1,438,608.669 1,438,609 1,596,879.865 1,596,880 186,715.000 186,715 202,465.758 202,466
Outstanding, end of year/period 147,742.142 147,742 1,307,516.275 1,307,516 55,730.534 55,729 180,066.162 180,065

Issued
-new fund offer - - - - - - - -
Regular Half year IDCW

Issued
-new fund offer - - - - - - - -
Regular Annual IDCW

Issued
-new fund offer - - - - - - - -
88
AXIS LIQUID FUND AXIS LIQUID FUND AXIS TREASURY ADVANTAGE FUND AXIS TREASURY ADVANTAGE FUND
Regular Bonus
Issued
Direct Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 773,403,806.868 773,403,807 3,549,467,698.010 3,549,467,698 54,543,511.298 54,543,511 31,872,093.704 31,872,094
Redeemed during the year/period 761,525,043.436 761,525,043 3,553,352,463.319 3,553,352,463 43,625,788.721 43,625,789 22,857,039.070 22,857,039
Direct IDCW
Issued
-new fund offer - - - - - - - -
Direct Daily IDCW

Outstanding, beginning of year/period 6,044,944.127 6,044,942 9,985,404.037 9,985,402 537,423.909 537,425 607,467.847 607,469
Issued
-during the year/period 16,409,316.717 16,409,317 355,234,375.657 355,234,376 355,113.518 355,114 1,164,263.891 1,164,264
Redeemed during the year/period 21,463,375.502 21,463,376 359,174,835.567 359,174,836 698,762.498 698,762 1,234,307.829 1,234,308
Outstanding, end of year/period 990,885.342 990,883 6,044,944.127 6,044,942 193,774.929 193,777 537,423.909 537,425
Direct Weekly IDCW

Issued
Redeemed during the year/period 924,565.806 924,566 3,898,547.661 3,898,548 127,115.898 127,116 208,773.358 208,773
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Direct Half yearly IDCW

Issued
Direct Annual IDCW

Issued
-new fund offer - - - - - - - -
Direct Bonus
Outstanding, beginning of year/period 21.922 22 66.703 67 - - - -
Issued
Redeemed during the year/period 21.922 22 44.781 45 - - - -
Outstanding, end of year/period - - 21.922 22 - - - -
Total
Issued
-new fund offer - - - - - - - -
-during the year/period 974,211,687.577 974,211,689 4,610,008,097.966 4,610,008,098 76,582,937.988 76,582,937 47,992,521.044 47,992,521
Redeemed during the year/period 977,067,882.434 977,067,884 4,627,419,293.217 4,627,419,294 60,884,772.237 60,884,772 35,559,761.443 35,559,763
89
AXIS BANKING & PSU DEBT FUND AXIS BANKING & PSU DEBT FUND AXIS SHORT TERM FUND AXIS SHORT TERM FUND
Initial Capital 1,189,448.984 1,189,448 1,189,448.984 1,189,448 286,435,356.052 2,864,354 286,435,356.052 2,864,354
Retail Growth
Outstanding, beginning of year/period - - - - 1,834,907.064 18,349 2,611,648.423 26,116
Issued
Redeemed during the year/period - - - - 1,151,356.257 11,514 776,741.359 7,767
Outstanding, end of year/period - - - - 683,550.807 6,835 1,834,907.064 18,349
Regular IDCW
Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 7,170,558.228 71,706 1,580,992.123 15,810
Redeemed during the year/period - - - - 4,570,352.007 45,704 1,910,353.539 19,104
Outstanding, end of year/period - - - - 6,198,002.267 61,980 3,597,796.046 35,978
Retail Daily IDCW

Issued
Retail Weekly IDCW

Outstanding, beginning of year/period - - - - 335,587.354 3,356 411,397.389 4,114
Issued
Redeemed during the year/period - - - - 47,571.782 476 75,810.035 758
Outstanding, end of year/period - - - - 288,015.572 2,880 335,587.354 3,356
Retail Monthly IDCW

Issued
Redeemed during the year/period - - - - - - 37,035.574 370
Regular Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 24,976,539.218 24,976,539 20,420,975.919 20,420,976 2,242,977,574.849 22,429,776 1,024,385,069.079 10,243,851
Redeemed during the year/period 12,164,306.496 12,164,306 6,634,147.536 6,634,148 1,273,877,887.827 12,738,779 526,702,616.307 5,267,026
Outstanding, end of year/period 34,387,897.681 34,387,897 21,575,664.959 21,575,664 1,827,204,019.359 18,272,041 858,104,332.337 8,581,044
Regular Daily IDCW

Outstanding, beginning of year/period 546,204.244 546,203 548,809.089 548,808 - - - -
Issued
-new fund offer - - - - - - - -
-during the year/period 338,658.564 338,659 186,198.005 186,198 - - - -
Redeemed during the year/period 735,426.652 735,427 188,802.850 188,803 - - - -
Outstanding, end of year/period 149,436.156 149,435 546,204.244 546,203 - - - -
Regular Weekly IDCW

Outstanding, beginning of year/period 83,226.998 83,225 15,064.210 15,063 9,685,064.520 96,852 5,905,697.465 59,059
Issued
-during the year/period 61,351.329 61,351 166,103.467 166,103 8,154,217.714 81,542 30,548,827.733 305,488
Redeemed during the year/period 112,107.888 112,108 97,940.679 97,941 9,807,091.254 98,071 26,769,460.678 267,695
Outstanding, end of year/period 32,470.439 32,468 83,226.998 83,225 8,032,190.980 80,323 9,685,064.520 96,852

Issued
-new fund offer - - - - - - - -
-during the year/period 730,286.811 730,287 1,039,241.331 1,039,241 16,155,704.704 161,557 82,844,233.160 828,442

Issued
-new fund offer - - - - - - - -
90

Issued
-new fund offer - - - - - - - -
Regular Annual IDCW

Issued
-new fund offer - - - - - - - -
Regular Bonus
Outstanding, beginning of year/period - - - - 14,169.577 143 19,868.128 200
Issued
Outstanding, end of year/period - - - - - - 14,169.577 143
Direct Growth
Outstanding, beginning of year/period 45,420,745.882 45,420,744 17,652,017.863 17,652,016 1,242,742,331.085 12,427,424 1,075,202,170.222 10,752,023
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 47,308,778.154 47,308,776 45,420,745.882 45,420,744 2,883,021,391.456 28,830,214 1,242,742,331.085 12,427,424
Direct IDCW
Issued
-new fund offer - - - - - - - -
Direct Daily IDCW

Issued
Direct Weekly IDCW

Issued
-during the year/period 4,293.644 4,294 116,120.323 116,120 2,815,741.120 28,157 6,634,341.488 66,343
Outstanding, end of year/period 7,888.926 7,889 28,733.115 28,733 938,387.351 9,382 6,774,096.650 67,740
Direct Monthly IDCW

Outstanding, beginning of year/period 221,880.992 221,881 3,605.591 3,606 1,607,534.154 16,075 413,597.599 4,135
Issued
-new fund offer - - - - - - - -
-during the year/period 700,924.775 700,925 9,418,344.487 9,418,344 6,685,544.736 66,855 5,873,476.462 58,735
Redeemed during the year/period 491,242.957 491,243 9,200,069.086 9,200,069 4,771,420.988 47,714 4,679,539.907 46,795

Issued
-new fund offer - - - - - - - -

Issued
91
Direct Annual IDCW

Issued
-new fund offer - - - - - - - -
Direct Bonus
Issued
Total
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 75,465,919.188 75,465,919 37,396,913.712 37,396,915 4,875,323,236.930 48,753,235 1,598,428,349.523 15,984,284
92
AXIS STRATEGIC BOND FUND AXIS STRATEGIC BOND FUND AXIS DYNAMIC BOND FUND AXIS DYNAMIC BOND FUND
Initial Capital 39,349,758.027 393,498 39,349,758.027 393,498 17,673,754.853 176,738 17,673,754.853 176,738
Retail Growth
Issued
Regular IDCW
Issued
-new fund offer - - - - - - - -
Retail Daily IDCW

Issued
Retail Weekly IDCW

Issued
Retail Monthly IDCW

Issued
Regular Growth
Outstanding, beginning of year/period 474,793,441.542 4,747,934 508,960,660.356 5,089,606 108,495,581.659 1,084,956 51,978,419.843 519,784
Issued
-new fund offer - - - - - - - -
-during the year/period 210,807,041.784 2,108,070 95,420,720.118 954,207 302,320,453.754 3,023,205 95,438,257.408 954,383
Redeemed during the year/period 209,939,514.233 2,099,395 129,587,938.932 1,295,879 146,698,568.463 1,466,986 38,921,095.592 389,211
Regular Daily IDCW

Issued
-new fund offer - - - - - - - -
Regular Weekly IDCW

Issued

Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year/period 20,895,041.351 208,950 6,916,124.505 69,161 2,936,918.450 29,368 5,041,759.058 50,416
Issued
-new fund offer - - - - - - - -
-during the year/period 400,366.069 4,004 18,233,504.283 182,335 2,412,779.684 24,128 421,475.000 4,215
Redeemed during the year/period 18,520,254.387 185,203 4,254,587.437 42,546 1,556,687.218 15,567 2,526,315.608 25,263
Outstanding, end of year/period 2,775,153.033 27,751 20,895,041.351 208,950 3,793,010.916 37,929 2,936,918.450 29,368
93

Outstanding, beginning of year/period 811,135.219 8,110 879,221.709 8,791 313,946.291 3,140 1,266,122.615 12,662
Issued
-new fund offer - - - - - - - -
-during the year/period 249,210.289 2,492 8,368,382.365 83,684 1,123,314.857 11,233 153,414.684 1,534
Redeemed during the year/period 333,513.506 3,335 8,436,468.855 84,365 896,389.194 8,964 1,105,591.008 11,056
Regular Annual IDCW

Issued
-new fund offer - - - - - - - -
Regular Bonus
Issued
Direct Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 90,198,203.084 901,982 34,735,633.765 347,356 537,039,635.839 5,370,396 138,486,933.444 1,384,869
Redeemed during the year/period 72,957,000.327 729,570 60,117,983.078 601,180 125,282,013.666 1,252,820 37,899,162.419 378,992
Direct IDCW
Issued
-new fund offer - - - - - - - -
Direct Daily IDCW

Issued
Direct Weekly IDCW

Issued
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
-during the year/period 188,352.077 1,884 179,314.433 1,793 1,837,603.545 18,376 609,984.365 6,100
Redeemed during the year/period 462,680.429 4,627 147,607.117 1,476 910,458.730 9,105 319,920.501 3,199
Outstanding, end of year/period 192,015.418 1,919 466,343.770 4,662 1,411,296.370 14,114 484,151.555 4,843

Outstanding, beginning of year/period 114,991.144 1,149 86,960.686 869 76,281.559 762 25,376.789 253
Issued
-during the year/period 97,735.942 977 71,713.407 717 814,636.900 8,146 65,444.536 654
Redeemed during the year/period 60,797.029 608 43,682.949 437 382,660.110 3,827 14,539.766 145
Outstanding, end of year/period 151,930.057 1,518 114,991.144 1,149 508,258.349 5,081 76,281.559 762
94
Direct Annual IDCW

Issued
-new fund offer - - - - - - - -
Direct Bonus
Issued
Total
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 302,273,759.911 3,022,738 202,588,268.368 2,025,883 275,726,777.381 2,757,269 80,786,624.894 807,866
95
AXIS REGULAR SAVER FUND AXIS REGULAR SAVER FUND

AXIS OVERNIGHT FUND AXIS OVERNIGHT FUND
Initial Capital 8,594,547.228 8,594,547 8,594,547.228 8,594,547 446,271,322.929 4,462,713 446,271,322.929 4,462,713
Retail Growth
Issued
Regular IDCW
Issued
-new fund offer - - - - - - - -
Retail Daily IDCW

Issued
Retail Weekly IDCW

Issued
Retail Monthly IDCW

Issued
Regular Growth
Outstanding, beginning of year/period 14,186,987.585 14,186,987 2,760.501 2,760 82,192,019.150 821,920 127,044,890.640 1,270,448
Issued
-new fund offer - - - - - - - -
-during the year/period 386,174,482.888 386,174,483 199,793,571.141 199,793,571 38,049,687.930 380,497 7,551,076.601 75,511
Redeemed during the year/period 385,325,772.375 385,325,772 185,609,344.057 185,609,344 27,930,365.088 279,304 52,403,948.091 524,039
Outstanding, end of year/period 15,035,698.098 15,035,698 14,186,987.585 14,186,987 92,311,341.992 923,113 82,192,019.150 821,920
Regular Daily IDCW

Issued
-new fund offer - - - - - - - -
-during the year/period 374,766.479 374,766 2,212,516.277 2,212,516 - - - -
Redeemed during the year/period 652,226.698 652,227 1,905,069.653 1,905,070 - - - -
Regular Weekly IDCW

Outstanding, beginning of year/period 1,313.635 1,314 101.983 102 - - - -
Issued

Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 4,328.159 4,328 364.512 365 - - - -
Outstanding, end of year/period 581.796 582 3,048.041 3,048 - - - -

Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 526,846.155 5,268 386,343.216 3,863
96


Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 35,933.065 359 17,479.310 175
Redeemed during the year/period - - - - 231,746.780 2,317 154,497.009 1,545
Regular Annual IDCW

Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 181,707.530 1,817 1,112,880.341 11,129
Redeemed during the year/period - - - - 333,377.824 3,334 1,616,508.481 16,165
Regular Bonus
Issued
Direct Growth
Outstanding, beginning of year/period 20,471,595.987 20,471,596 2,257,376.438 2,257,376 3,641,195.443 36,412 4,010,046.516 40,101
Issued
-new fund offer - - - - - - - -
-during the year/period 1,308,943,109.469 1,308,943,109 1,083,942,825.855 1,083,942,826 1,792,407.029 17,924 309,340.761 3,093
Redeemed during the year/period 1,294,407,364.630 1,294,407,365 1,065,728,606.306 1,065,728,606 1,797,470.593 17,975 678,191.834 6,782
Direct IDCW
Issued
-new fund offer - - - - - - - -
Direct Daily IDCW

Issued
-during the year/period 23,019.197 23,019 11,407,498.677 11,407,499 - - - -
Redeemed during the year/period 176,320.323 176,320 11,253,909.765 11,253,910 - - - -
Direct Weekly IDCW

Outstanding, beginning of year/period 50,371.161 50,371 - - - - - -
Issued
Outstanding, end of year/period 298.895 298 50,371.161 50,371 - - - -
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period - - - - 118,203.749 1,184 86,236.843 864

Issued
Outstanding, end of year/period - - - - 60,699.026 609 40,888.124 411
97

Direct Annual IDCW

Issued
-new fund offer - - - - - - - -
Direct Bonus
Issued
Total
Outstanding, beginning of year/period 35,178,386.234 35,178,385 2,262,871.298 2,262,870 96,974,444.095 969,747 146,284,927.507 1,462,851
Issued
-new fund offer - - - - - - - -
-during the year/period 1,695,589,991.386 1,695,589,990 1,297,460,552.561 1,297,460,553 40,708,861.178 407,088 9,481,769.653 94,818
Redeemed during the year/period 1,680,654,897.352 1,680,654,897 1,264,545,037.625 1,264,545,038 32,490,745.409 324,908 58,792,253.065 587,922
Outstanding, end of year/period 50,113,480.268 50,113,478 35,178,386.234 35,178,385 105,192,559.864 1,051,927 96,974,444.095 969,747
98
AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND
Initial Capital 8,594,547.228 8,594,547 73,167,902.883 731,680 8,594,547.228 8,594,547 36,071,181.251 360,712
Retail Growth
Issued
Regular IDCW
Issued
-new fund offer - - - - - - - -
Retail Daily IDCW

Issued
Retail Weekly IDCW

Issued
Retail Monthly IDCW

Issued
Regular Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 60,171,042.107 601,710 12,178,273.286 121,783 78,189,999.694 781,900 15,739,160.594 157,392
Regular Daily IDCW

Issued
-new fund offer - - - - - - - -
Regular Weekly IDCW

Issued

Issued
-new fund offer - - - - - - - -
99

Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year/period 104,420.923 1,045 54,533.086 546 - - - -
Issued
-new fund offer - - - - - - - -
-during the year/period 169,940.689 1,699 57,634.025 576 - - - -
Redeemed during the year/period 194,521.784 1,945 7,746.188 77 - - - -
Outstanding, end of year/period 79,839.828 799 104,420.923 1,045 - - - -
Regular Annual IDCW

Issued
-new fund offer - - - - - - - -
Regular Bonus
Issued
Direct Growth
Issued
-new fund offer - - - - - - - -
Direct IDCW
Outstanding, beginning of year/period 329,862.72 3,299 1,234.306 13 857,311.05 8,572.00 274,855.801 2,748
Issued
-new fund offer - - - - - - - -
-during the year/period 1,985,380.779 19,854 553,038.941 5,530 1,633,076.089 16,331 1,761,148.331 17,611
Redeemed during the year/period 1,748,974.338 17,490 224,410.525 2,244 1,268,377.074 12,684 1,178,693.083 11,787
Direct Daily IDCW

Issued
Direct Weekly IDCW

Issued
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -
100

Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year/period 43,320.917 432 2,058.533 20 - - - -
Issued
Outstanding, end of year/period 315,209.002 3,151 43,320.917 432 - - - -
Direct Annual IDCW

Issued
-new fund offer - - - - - - - -
Direct Bonus
Issued
Total
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 81,302,662.545 813,026 33,540,275.565 335,401 151,303,925.150 1,513,039 55,728,373.212 557,283
101
AXIS CREDIT RISK FUND AXIS CREDIT RISK FUND AXIS CORPORATE DEBT FUND AXIS CORPORATE DEBT FUND
Initial Capital 8,594,547.228 8,594,547 74,988,368.054 749,883 8,594,547.228 8,594,547 357,005,448.800 3,570,055
Retail Growth
Issued
Regular IDCW
Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 355,964.557 3,560 73,802.258 738
Retail Daily IDCW

Issued
Retail Weekly IDCW

Issued
Retail Monthly IDCW

Issued
Regular Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 76,360,943.795 763,609 125,364,601.725 1,253,646 1,876,935,318.441 18,769,353 96,845,960.617 968,460
Regular Daily IDCW

Outstanding, beginning of year/period - - - - 496,185.352 4,962 2,106,014.937 21,060
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - 495,053.363 4,951 5,772,402.330 57,724
Regular Weekly IDCW

Outstanding, beginning of year/period 833,806.456 8,338 1,417,207.481 14,172 996,966.452 9,970 1,115,509.243 11,156
Issued

Outstanding, beginning of year/period 8,056,031.969 80,560 40,016,714.843 400,167 537,101.648 5,371 514,713.055 5,147
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 4,322,184.671 43,222 32,787,057.730 327,871 658,121.041 6,581 755,238.112 7,552
Outstanding, end of year/period 4,251,233.173 42,512 8,056,031.969 80,560 3,420,410.721 34,204 537,101.648 5,371
102

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Regular Annual IDCW

Issued
-new fund offer - - - - - - - -
Regular Bonus
Issued
Direct Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 11,657,048.798 116,570 13,541,352.151 135,414 2,174,139,125.823 21,741,391 40,169,760.616 401,698
Outstanding, end of year/period 39,343,628.844 393,435 108,002,941.510 1,080,029 1,473,128,494.359 14,731,285 46,359,879.831 463,599
Direct IDCW
Outstanding, beginning of year/period - - - - 159,561.26 1,596 29,565.793 296
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - 294,190.512 2,942 53,068.340 531
Direct Daily IDCW

Outstanding, beginning of year/period - - - - 66,245.930 663 10,044,113.410 100,442
Issued
-during the year/period - - - - 83,695.443 837 4,777,937.982 47,779
Redeemed during the year/period - - - - 46,269.383 463 14,755,805.462 147,558
Outstanding, end of year/period - - - - 103,671.990 1,037 66,245.930 663
Direct Weekly IDCW

Outstanding, beginning of year/period 14,748.091 148 99,995.649 1,001 14,280.845 142 10,429.410 104
Issued
Redeemed during the year/period 16,305.833 163 99,764.383 998 85,873.104 859 15,588.680 156
Outstanding, end of year/period 17,301.933 174 14,748.091 148 150,034.900 1,499 14,280.845 142
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 65,819.018 658 191,698.209 1,917 1,605,387.761 16,054 190,093.081 1,901
103

Issued
-new fund offer - - - - - - - -

Issued
Direct Annual IDCW

Issued
-new fund offer - - - - - - - -
Direct Bonus
Issued
Total
Outstanding, beginning of year/period 700,492,361.293 7,004,923 1,134,086,520.614 11,340,865 156,720,781.408 1,567,210 212,184,206.409 2,021,403
Issued
-new fund offer - - - - - - - -
-during the year/period 89,014,966.401 890,149 139,970,865.807 1,399,709 4,058,436,033.387 40,584,360 147,308,132.305 1,473,081
104
AXIS ULTRA SHORT TERM FUND AXIS ULTRA SHORT TERM FUND AXIS MONEY MARKET FUND AXIS MONEY MARKET FUND
Initial Capital 8,594,547.228 8,594,547 573,404,540.300 5,734,045 8,594,547.228 8,594,547 5,320,988.514 5,320,989
Retail Growth
Issued
Regular IDCW
Outstanding, beginning of year/period 2,349,127.466 23,491 2,470,981.895 24,710 - - - -
Issued
-new fund offer - - - - - - - -
-during the year/period 91,177,166.920 911,772 19,977,911.491 199,779 - - - -
Redeemed during the year/period 91,179,462.459 911,795 20,099,765.920 200,998 - - - -
Outstanding, end of year/period 2,346,831.927 23,468 2,349,127.466 23,491 - - - -
Retail Daily IDCW

Issued
Retail Weekly IDCW

Issued
Retail Monthly IDCW

Issued
Regular Growth
Outstanding, beginning of year/period 1,602,756,602.493 16,027,566 768,277,200.301 7,682,772 433,920.011 433,920 - -
Issued
-new fund offer - - - - - - 518,390.098 518,390
-during the year/period 6,070,615,571.364 60,706,156 5,332,774,790.561 53,327,748 15,549,892.730 15,549,893 2,566,389.110 2,566,389
Redeemed during the year/period 4,717,117,880.193 47,171,179 4,498,295,388.369 44,982,954 10,031,958.077 10,031,958 2,650,859.197 2,650,859
Outstanding, end of year/period 2,956,254,293.664 29,562,543 1,602,756,602.493 16,027,566 5,951,854.664 5,951,855 433,920.011 433,920
Regular Daily IDCW

Outstanding, beginning of year/period 175,342,063.326 1,753,422 26,323,342.714 263,234 6,078.976 6,079 - -
Issued
-new fund offer - - - - - - 5,622.000 5,622
-during the year/period 187,584,369.322 1,875,844 436,858,961.966 4,368,590 20,350.743 20,351 151,112.297 151,112
Outstanding, end of year/period 77,607,252.265 776,074 175,342,063.326 1,753,422 5,789.458 5,790 6,078.976 6,079
Regular Weekly IDCW

Issued
-during the year/period 6,391,426.014 63,914 193,038,707.576 1,930,387 - - - -
Redeemed during the year/period 17,295,079.451 172,951 182,431,657.613 1,824,317 - - - -

Outstanding, beginning of year/period 12,458,858.799 124,589 1,439,359.681 14,394 14,997.744 14,998 - -
Issued
-new fund offer - - - - - - 11,800.000 11,800
-during the year/period 8,851,953.118 88,520 29,212,491.983 292,125 3,411.471 3,411 16,339.887 16,340
Outstanding, end of year/period 5,088,652.938 50,887 12,458,858.799 124,589 7,187.562 7,187 14,997.744 14,998
105

Outstanding, beginning of year/period - - - - 1,062.399 1,063 - -
Issued
-new fund offer - - - - - - 1,057.760 1,058
-during the year/period - - - - 684.420 684 69.615 70

Issued
-new fund offer - - - - - - - -
Regular Annual IDCW

Outstanding, beginning of year/period - - - - 1,831.175 1,831 - -
Issued
-new fund offer - - - - - - 323.000 323
Redeemed during the year/period - - - - 4,904.470 4,904 21.851 22
Regular Bonus
Issued
Direct Growth
Outstanding, beginning of year/period 630,964,648.440 6,309,646 267,135,316.571 2,671,353 3,866,093.158 3,866,093 - -
Issued
-new fund offer - - - - - - 4,783,657.583 4,783,658
Direct IDCW
Issued
-new fund offer - - - - - - - -
-during the year/period 492,738.934 4,927 4,613,434.279 46,134 - - - -
Redeemed during the year/period 404,750.855 4,048 4,583,076.496 45,831 - - - -
Direct Daily IDCW

Outstanding, beginning of year/period 9,453,015.869 94,530 6,351,638.357 63,516 12,020.724 12,021 - -
Issued
Outstanding, end of year/period 938,847.758 9,388 9,453,015.869 94,530 639.269 639 12,020.724 12,021
Direct Weekly IDCW

Issued
-during the year/period 243,385.579 2,434 8,187,975.583 81,880 - - - -
Outstanding, end of year/period 152,300.597 1,524 6,785,042.790 67,851 - - - -
Direct Monthly IDCW

Outstanding, beginning of year/period 2,175,747.494 21,757 1,790,073.325 17,900 142.493 143 - -
Issued
-new fund offer - - - - - - 86.073 86
-during the year/period 2,358,205.630 23,582 3,697,120.756 36,971 2,007.493 2,007 822.775 823
Redeemed during the year/period 2,640,121.914 26,401 3,311,446.587 33,114 820.696 821 766.355 766
Outstanding, end of year/period 1,893,831.210 18,938 2,175,747.494 21,757 1,329.290 1,329 142.493 143
106

Outstanding, beginning of year/period - - - - 27.839 28 - -
Issued
-new fund offer - - - - - - 32.000 32
-during the year/period - - - - 31.318 31 23.520 24
Outstanding, end of year/period - - - - 24.787 25 27.839 28

Issued
Direct Annual IDCW

Outstanding, beginning of year/period - - - - 67.93 68 - -
Issued
-new fund offer - - - - - - 20.000 20
-during the year/period - - - - 1,052.083 1,052 50.823 51
Outstanding, end of year/period - - - - 1,112.690 1,113 67.931 68
Direct Bonus
Issued
Total
Outstanding, beginning of year/period 2,459,597,370.704 24,595,973 1,106,366,865.730 11,000,152 4,336,242.450 4,336,243 - -
Issued
-new fund offer - - - - - - 5,320,988.514 5,320,989
Outstanding, end of year/period 4,040,181,049.700 40,401,809 2,459,597,370.704 24,595,973 20,154,640.587 20,154,640 4,336,242.450 4,336,243
107
AXIS ALL SEASONS DEBT FUND AXIS ALL SEASONS DEBT FUND
OF FUNDS OF FUNDS
March 31, 2021 March 31, 2020
Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up
Quantity Amount Quantity Amount
Initial Capital 8,594,547.228 8,594,547 44,357,570.000 443,576
Retail Growth
Outstanding, beginning of year/period - - - -
Issued
-during the year/period - - - -
Redeemed during the year/period - - - -
Outstanding, end of year/period - - - -
Regular IDCW
Outstanding, beginning of year/period 39,528.214 395 - -
Issued
-new fund offer - - 33,500.000 335
-during the year/period 16,361.506 164 7,028.214 70
Redeemed during the year/period 8,151.900 82 1,000.000 10
Outstanding, end of year/period 47,737.820 477 39,528.214 395
Retail Daily IDCW

Issued
Retail Weekly IDCW

Issued
Retail Monthly IDCW

Issued
Regular Growth
Outstanding, beginning of year/period 9,864,222.472 98,642 - -
Issued
-new fund offer - - 9,511,307.600 95,113
-during the year/period 20,778,115.941 207,781 647,003.690 6,470
Redeemed during the year/period 3,327,265.816 33,273 294,088.818 2,941
Outstanding, end of year/period 27,315,072.597 273,150 9,864,222.472 98,642
108
OF FUNDS OF FUNDS
March 31, 2021 March 31, 2020
Regular Daily IDCW
Issued
-new fund offer - - - -
Regular Weekly IDCW

Issued

Outstanding, beginning of year/period 191,116.242 1,911 - -
Issued
-new fund offer - - 167,700.000 1,677
-during the year/period 127,615.423 1,276 29,116.242 291
Redeemed during the year/period 134,937.907 1,349 5,700.000 57
Outstanding, end of year/period 183,793.758 1,838 191,116.242 1,911

Issued
-new fund offer - - 35,500.000 355

Issued
-new fund offer - - 1,500.000 15
-during the year/period 14,009.378 140 - -
Redeemed during the year/period 5,185.541 52 500.000 5
Regular Annual IDCW

Issued
-new fund offer - - 57,000.000 570
-during the year/period 140,749.164 1,407 19,140.218 191
Outstanding, end of year/period 156,266.408 1,561 69,981.326 699
Regular Bonus
Issued
109
OF FUNDS OF FUNDS
March 31, 2021 March 31, 2020
Direct Growth
Issued
-new fund offer - - 34,484,562.400 344,846
-during the year/period 31,650,091.000 316,501 22,323,664.093 223,237
Redeemed during the year/period 7,625,948.939 76,259 5,784,626.541 57,846
Outstanding, end of year/period 75,047,742.013 750,479 51,023,599.952 510,237
Direct IDCW
Issued
-new fund offer - - 1,500.000 15
Direct Daily IDCW

Issued
Direct Weekly IDCW

Issued
Direct Monthly IDCW

Issued
-new fund offer - - 10,500.000 105

Issued
-new fund offer - - 50,500.000 505
-during the year/period 42,161.760 422 - -

Issued
110
OF FUNDS OF FUNDS
March 31, 2021 March 31, 2020
Direct Annual IDCW

Issued
-new fund offer - - 4,000.000 40
Direct Bonus
Issued
Total
Issued
-new fund offer - - 44,357,570.000 443,576
-during the year/period 52,960,489.935 529,605 23,046,980.462 230,469
Redeemed during the year/period 11,245,778.968 112,458 6,103,687.345 60,920
Outstanding, end of year/period 103,015,574.084 1,030,155 61,300,863.117 613,008
111
Rupees in '000
AXIS TREASURY AXIS TREASURY

AXIS LIQUID AXIS LIQUID AXIS BANKING & AXIS BANKING & AXIS SHORT AXIS SHORT
ADVANTAGE ADVANTAGE
FUND FUND PSU DEBT FUND PSU DEBT FUND TERM FUND TERM FUND
FUND FUND
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
4. RESERVES AND SURPLUS
Unit premium reserve

Balance, beginning of year/period (5,247,620) (12,933,695) 338,811 26,939 (3,233,537) 70,033 684,323 222,376
Net premium/discount on issue/redemption of units 8,242,392 (9,207,504) 23,355,238 15,014,654 13,834,600 34,905,110 36,325,855 8,346,304
Transferred (to) / from equalisation account (3,763,876) 16,893,579 (22,600,667) (14,702,782) (17,440,349) (38,208,680) (33,495,773) (7,884,357)
Balance, end of year / period (769,104) (5,247,620) 1,093,382 338,811 (6,839,286) (3,233,537) 3,514,405 684,323
Unrealised appreciation reserve

Balance, beginning of year/period 86,571 100,808 - 47,778 2,099,000 633,689 177,079 1,530
investments (73,345) (14,237) 177,827 (47,778) 182,566 1,465,311 (177,079) 175,549
Balance, end of year/period 13,226 86,571 177,827 - 2,281,566 2,099,000 - 177,079
Retained surplus
Balance, beginning of year/period 107,105,247 107,033,426 22,622,171 5,970,818 63,580,425 18,719,293 26,241,441 15,581,477
Transferred (to) / from revenue account (38,673) (263,358) (18,220) (11,249) (78,273) (28,563) (8,858) (9,026)
Net Surplus / (Deficit) transferred from revenue account 13,546,426 335,179 26,740,267 16,662,602 29,477,967 44,889,695 40,107,179 10,668,990
Balance, end of year / period 120,613,000 107,105,247 49,344,218 22,622,171 92,980,119 63,580,425 66,339,762 26,241,441
Total reserves 119,857,122 101,944,198 50,615,427 22,960,982 88,422,399 62,445,888 69,854,167 27,102,843
The share of the options in the reserves and surplus is

as follows:
Retail Growth 1,630 1,877 8,358 8,285 - - 9,314 21,816
Regular IDCW - - - - - - 37,091 17,308
Retail Daily IDCW # # 150 72 - - - -
Retail Weekly IDCW # # 7 4 - - 67 58
Retail Monthly IDCW # # 1 1 - - 20 58
Regular Growth 37,343,558 38,880,875 16,713,121 7,119,235 36,430,627 19,663,287 25,386,332 10,416,928
Regular Daily IDCW 1,198 5,897 5,149 6,930 5,847 12,287 - -
Regular Weekly IDCW 383 1,563 680 1,569 1,262 2,040 3,234 2,557
Regular Monthly IDCW 275 6,535 604 1,862 34,093 20,754 9,585 16,369
Regular Quarterly IDCW - - - - - - - -
Regular Half Yearly IDCW - - - - - - - -
Regular Annual IDCW - - - - - - - -
Regular Bonus - - - - - - - 174
Direct Growth 82,508,972 63,036,109 33,884,687 15,818,286 51,935,110 42,740,610 44,404,116 16,622,170
Direct Daily IDCW 947 5,587 2,418 3,917 227 619 - -
Direct Weekly IDCW 86 1,643 168 762 307 704 237 1,792
Direct Monthly IDCW 73 4,086 84 59 14,926 5,587 204 244
Direct Quarterly IDCW - - - - - - - -
Direct Half Yearly IDCW - - - - - - - -
Direct Annual IDCW - - - - - - - -
Direct Regular IDCW - - - - - - 3,967 3,369
Direct Bonus - 26 - - - - - -
119,857,122 101,944,198 50,615,427 22,960,982 88,422,399 62,445,888 69,854,167 27,102,843
# Amount less than Rs. 0.5 thousand - - - -
5. CURRENT LIABILITIES AND PROVISIONS

Amount due to AMC
- Management fees 60,205 12,647 27,317 19,148 38,900 26,856 12,171 23,048
Trusteeship fee payable 99 89 35 17 64 45 49 17
Sundry creditors for units redeemed by investors:
- Lateral shift payable 2,630 297,848 43,847 - 7,446 8,371 26,717 14,408
- Others 8,025 95,907 43,122 200,975 28,322 105,146 45,589 42,476
Interscheme payable - - - - - 23,415 - 10,631
Contract for purchase of investments 3,973,003 15,504,386 1,712,925 - 5,983,758 - 1,126,636 325,182
Audit fee payable 34 84 27 142 10 119 29 142
Registrar service fees payable 2,322 2,588 1,226 763 1,457 1,255 3,916 1,682
Dividend payable on units 19 660 17 5 - - - 17
Dividend distribution tax payable - 1,262 - 377 - 288 - -
Unit application pending allotment 83,182 133,228 26,107 2,355 2,958 12,982 31,459 2,253
Commission to distributors payable 2,316 3,970 7,515 5,327 17,780 10,693 25,867 9,436
Custody fees payable 795 2,394 284 418 514 1,098 397 408
Investor education expense payable 4,294 4,636 1,534 896 2,774 2,352 2,140 886
Interest payable on loan - 57,626 - - - - - -
Unclaimed Redemption & Dividend 9,828 612 1,972 565 116 42 314 638
Other current liabilities 35,158 13,977 6,685 1,912 10,284 2,405 26,110 2,281
4,181,910 16,131,914 1,872,613 232,900 6,094,383 195,067 1,301,394 433,505
Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
6. INVESTMENTS
Equity shares - - - - - - - -
Privately placed/ Unlisted debentures and bonds - - - - - 698,478 - -
Listed debentures and bonds 2,362,984 1,504,605 38,180,652 28,485,558 141,381,807 124,483,410 75,313,479 39,064,333
Certificate of deposit 16,410,080 35,884,805 3,235,573 3,614,112 - - 4,937,269 527,681
Commercial paper 111,089,449 126,290,447 15,894,647 7,631,827 - - 7,980,431 -
Units of mutual fund - - - - - - - -
Government securities (including treasury bills) 66,444,311 54,527,442 18,719,043 445,840 17,780,197 2,318,131 20,506,633 4,728,722
Securitised debt - - 842,140 1,183,023 - - 1,945,030 1,697,545
196,306,824 218,207,299 76,872,055 41,360,360 159,162,004 127,500,019 110,682,842 46,018,281
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the name of the fund), as per clause 7 of the
Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
112
Rupees in '000
(ii) Aggregate appreciation and depreciation in the value of investments are as follows:

ADVANTAGE ADVANTAGE
FUND FUND
Equity shares
- appreciation - - - - - - - -
- depreciation - - - - - - - -
Privately placed/ Unlisted debentures and bonds
- appreciation - - - - - 9,179 - -
Listed debentures and bonds
- appreciation - - 282,905 67,771 2,689,844 2,139,594 606,020 317,755
- depreciation 7,198 901 85,075 90,245 319,495 65,660 533,219 192,287
Certificate of deposit
- appreciation 2,215 20,630 692 5,801 - - 2,182 1,476
- depreciation 225 3,661 - 6,577 - - 47 -
Commercial paper
- appreciation 18,095 39,564 11,288 6,007 - - 7,881 -
- depreciation 28 16,684 - 5,894 - - - -
Units of mutual fund
Securitised debt
- appreciation - - 14,926 378 - - 36,245 7,791
- depreciation - - - 5,796 - - 1,042 6,710
Government securities (including treasury bills)
- appreciation 5,774 49,084 2,824 328 4,834 15,887 30,017 55,099
- depreciation 6,347 1,462 49,734 106 93,616 - 251,496 6,044
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year and these amounts as a percentage of average daily net assets are as follows: Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019
to to to to to to to to
Purchases (excluding collateralised lending, TRI party
Repo,fixed deposits, futures and options)
Other - amount 1,773,793,369 2,316,271,362 227,950,291 159,536,590 145,137,053 190,285,318 468,567,516 287,335,280
- as a percentage of average daily net assets 635.99% 728.21% 296.88% 530.86% 88.42% 199.04% 457.38% 849.26%
Sales (excluding collateralised lending, TRI party Repo,fixed

deposits, futures and options)
Other - amount 550,171,670 967,769,449 123,581,558 94,130,655 102,578,263 64,454,719 367,672,144 240,293,515
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies which have invested in any
scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
(v) Aggregate fair value of non traded investments
(excluding government securities and treasury bills)
valued in good faith
116,203,123 153,807,875 49,462,882 33,420,212 114,266,371 97,423,521 69,907,036 33,951,361
113
Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
(vi) Securities kept as Collateral with Clearing Corporation of
India Limited
22,500,000 38,950,000 250,000 - 250,000 - 430,000 230,000
Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
(vii) Securities pledged with Banks
- 15,100,000 - - - - - -
Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
7. OTHER CURRENT ASSETS
Balances with banks in current accounts 252,562 3,363,918 89,309 39,554 10,086,721 207,108 103,830 97,153
Sundry debtors for units issued to investors:
- Lateral shift receivable 13,154 580,433 426 21,313 27 1,144 - 1,873
- Others 3,401 - 323 5,263 - 502 778 79
Interscheme receivable 6,420 425 2,992 2,409 3,823 - 13,382 -
Contracts for sale of investments 4,992,905 - - 162,616 - - - 429,197
Margin deposit with Clearing Corporation of India Limited 80,050 7,050 87,350 50 47,600 - 118,600 51,100
Outstanding and accrued income 254,612 92,678 1,320,423 1,023,214 4,653,582 3,485,382 2,545,304 1,448,800
Amount due from AMC - 4,913 - - - - - -
Cash margin money placed for derivatives - - - - - - - -
Repo Reverse Repo and Tri-Party Repo 17,947,314 39,814,263 9,633,588 400,665 3,874,259 184,796 5,405,499 1,248,155
Unclaimed Redemption & Dividend (Invested in TREPS) 9,828 612 1,972 565 116 42 314 638
Other current assets 127 3,353 - 106 - - 1 -
23,560,373 43,867,645 11,136,383 1,655,755 18,666,128 3,878,974 8,187,708 3,276,995
8. INTEREST
Money market instruments 6,072,640 15,510,648 968,929 748,555 60,112 208,430 251,304 222,060
Debentures and bonds 447,738 579,337 2,347,411 1,155,433 10,784,799 6,763,756 4,553,474 1,840,386
Fixed deposits - - - - - - - -
Government securities (including treasury bills) 3,320,749 3,091,473 703,493 94,053 423,267 111,661 1,423,841 235,478
Collateralised lending, Reverse Repo and Tri-Party Repo 882,953 917,887 121,937 91,215 149,211 98,374 244,885 98,225
Securitised debt - - 85,351 25,277 - - 166,703 122,202
Less: Interest on borrowing (76,852) (565,807) - - - - - -
10,647,228 19,533,538 4,227,121 2,114,533 11,417,389 7,182,221 6,640,207 2,518,351
9. MANAGEMENT AND TRUSTEESHIP FEE
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset
value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the
Schemes have paid management fee at annualised average rate as follows:

ADVANTAGE ADVANTAGE
FUND FUND
Management fee (excluding GST) at annualised average rate 0.11% 0.06% 0.22% 0.18% 0.23% 0.22% 0.22% 0.22%
# less then 0.01%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is apportioned
to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
10. INCOME AND EXPENDITURE
The total income and expenditure and these amounts as a percentage of the scheme’s average daily net assets on an annualised basis are provided below: Rupees in '000

ADVANTAGE ADVANTAGE
FUND FUND
Income (net off realised loss on sale of investment and
excluding net change in marked to market in value of
investments)
- amount 10,514,606 19,505,030 4,465,089 2,246,314 12,769,396 7,158,005 7,307,627 2,986,836
Expenditure (excluding realised loss on sale of investment)
- amount 510,581 386,310 295,374 115,277 703,216 364,708 553,662 173,670
114
Rupees in '000
AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC AXIS OVERNIGHT AXIS OVERNIGHT AXIS REGULAR AXIS REGULAR
BOND FUND BOND FUND BOND FUND BOND FUND FUND FUND SAVER FUND SAVER FUND

Balance, beginning of year/period 338,163 380,690 220,108 26,994 (4,643) - (36,954) (14,855)
Net premium/discount on issue/redemption of units 488,485 (525,442) 7,984,212 1,835,817 1,082,352 1,412,923 133,665 (416,740)
Transferred (to) / from equalisation account (407,875) 482,915 (6,714,738) (1,642,703) (1,076,730) (1,417,566) (109,951) 394,641
Balance, end of year / period 418,773 338,163 1,489,582 220,108 979 (4,643) (13,240) (36,954)

Balance, beginning of year/period 107,264 - 102,287 - - - 812 99,537
investments (51,165) 107,264 (102,287) 102,287 - - 197,738 (98,725)
Balance, end of year/period 56,099 107,264 - 102,287 - - 198,550 812
Retained surplus
Balance, beginning of year/period 5,544,480 5,249,589 2,367,695 563,482 1,918,608 6,595 796,083 1,174,216
Transferred (to) / from revenue account (6,276) (1,824) (2,862) (1,831) (232) (3) (1,906) (1,244)
Net Surplus / (Deficit) transferred from revenue account 1,179,171 296,715 7,336,330 1,806,044 2,460,756 1,912,016 237,297 (376,889)
Balance, end of year / period 6,717,375 5,544,480 9,701,163 2,367,695 4,379,132 1,918,608 1,031,474 796,083
Total reserves 7,192,247 5,989,907 11,190,745 2,690,090 4,380,111 1,913,965 1,216,784 759,941

as follows:
Retail Growth - - - - - - - -
Regular IDCW - - - - - - - -
Retail Daily IDCW - - - - - - - -
Retail Weekly IDCW - - - - - - - -
Retail Monthly IDCW - - - - - - - -
Regular Growth 5,291,149 4,537,829 3,416,369 1,226,349 1,302,221 777,184 1,145,443 720,237
Regular Daily IDCW - - - - 16 155 - -
Regular Weekly IDCW - - - - 8 1 - -
Regular Monthly IDCW - - - - 1 3 - -
Regular Quarterly IDCW 1,143 12,337 3,050 2,317 - - 14,454 864
Regular Half Yearly IDCW 635 513 354 234 - - 527 79
Regular Annual IDCW - - - - - - 1,978 204
Regular Bonus - - - - - - - -
Direct Growth 1,898,994 1,438,812 7,768,940 1,460,598 3,077,828 1,136,506 53,751 38,327
Direct Daily IDCW - - - - 1 78 - -
Direct Weekly IDCW - - - - - 36 - -
Direct Monthly IDCW - - - - 36 2 - -
Direct Quarterly IDCW 99 286 1,145 455 - - 397 169
Direct Half Yearly IDCW 227 130 887 137 - - 133 22
Direct Annual IDCW - - - - - - 101 39
Direct Regular IDCW - - - - - - - -
Direct Bonus - - - - - - - -
7,192,247 5,989,907 11,190,745 2,690,090 4,380,111 1,913,965 1,216,784 759,941
- - - -

Amount due to AMC
- Management fees 5,670 2,629 4,231 782 2,756 1,702 2,022 3,169
Trusteeship fee payable 5 4 6 1 25 14 1 1
- Lateral shift payable 152 471 4,038 430 478 224,172 1,053 90
- Others 15,590 3,175 4,501 1,801 29 1 9,095 516
Interscheme payable 5,932 - - - 22,726 10,510 9 -
Contract for purchase of investments 539,425 974,406 747,863 271,768 - - 58,107 -
Registrar service fees payable 402 403 463 144 573 375 74 62
Dividend payable on units 738 97 1,048 5 - - 2 -
Dividend distribution tax payable - - - - - 1 - -
Unit application pending allotment 85 6 2,264 51 49,768 16,821 112 -
Commission to distributors payable 6,036 5,664 1,927 614 334 305 2,666 1,480
Custody fees payable 41 98 48 31 202 252 9 16
Investor education expense payable 220 212 260 76 1,094 702 38 30
Interest payable on loan - - - - - - - -
Unclaimed Redemption & Dividend 296 114 667 71 515 6 2,950 3,789
Other current liabilities 2,193 1,568 1,311 129 16,753 623 723 451
576,867 988,966 768,775 276,022 95,314 255,541 76,944 9,723
Rupees in '000
6. INVESTMENTS
Equity shares - - - - - - 546,552 290,997
Privately placed/ Unlisted debentures and bonds 61,767 91,428 - - - - - -
Listed debentures and bonds 9,931,050 8,867,928 10,341,261 3,657,650 - - 1,069,837 1,146,450
Certificate of deposit - - - - - - - -
Commercial paper - - - - - - - -
Units of mutual fund - - - - - - - -
Government securities (including treasury bills) 1,865,738 2,071,708 7,624,736 1,043,990 - - 601,074 159,979
Securitised debt 623,968 842,203 - - - - - -
12,482,523 11,873,267 17,965,997 4,701,640 - - 2,217,463 1,597,426
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the name of the fund), as per clause 7 of the Seventh
Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
115
(ii) Aggregate appreciation and depreciation in the value of investments are as follows: Rupees in '000
Equity shares
- appreciation - - - - - - 190,095 44,667
- depreciation - - - - - - 1,018 51,834
- depreciation 1,517 1,313 - - - - - -
- appreciation 92,437 142,106 96,270 98,910 - - 14,794 7,977
- depreciation 41,011 37,892 79,977 197 - - 3,533 828
Commercial paper
Securitised debt
- appreciation 8,826 1,121 - - - - - -
- depreciation - 1,644 - - - - - -
- appreciation 2,587 7,457 245 6,478 - - 44 1,027
- depreciation 5,223 2,571 75,877 2,905 - - 1,832 197
Other - amount 39,102,500 93,693,915 25,473,733 15,902,119 271,019,022 163,321,721 6,748,889 5,694,028

Other - amount 38,355,408 92,721,466 12,059,664 12,544,697 - - 5,317,208 3,795,991
- as a percentage of average daily net assets 380.96% 758.31% 115.43% 615.52% - - 280.49% 170.87%
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies which have invested in any scheme of
the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
8,230,867 8,338,447 9,454,383 2,541,817 - - 969,483 892,143
116
Rupees in '000
India Limited
50,000 - 10,000 - - - - -
Rupees in '000
- - - - - - - -
Rupees in '000
Balances with banks in current accounts 4,132 2,435 30,758 41,344 112,721 118,281 17,748 1,555
- Lateral shift receivable 2 3 23 - 12,003 116,215 - 30
- Others - 30 15 2,499 - 573 - 1
Interscheme receivable - 1 85 1,502 - - - 3
Contracts for sale of investments - 971,667 - 54,969 - - - 7,532
Margin deposit with Clearing Corporation of India Limited 17,600 10,000 36,900 20,000 310,000 - 800 -
Outstanding and accrued income 291,544 404,873 481,701 127,004 - - 29,329 41,711
Amount due from AMC - - - - - - - -
Repo Reverse Repo and Tri-Party Repo 1,280,840 27,635 1,392,480 267,974 54,153,654 37,112,549 77,365 87,364
Unclaimed Redemption & Dividend (Invested in TREPS) 296 114 667 71 515 6 2,950 3,789
Other current assets - - - - 10 267 - -
1,594,414 1,416,758 1,942,629 515,363 54,588,903 37,347,891 128,192 141,985
8. INTEREST
Money market instruments - 4,549 - - 3,425 14,902 - 19,097

Debentures and bonds 584,798 808,377 581,924 113,969 - - 70,739 88,761
Fixed deposits - - - - - - 7 32
Government securities (including treasury bills) 111,731 99,650 123,337 25,289 1,095 2,482 23,374 7,229
Collateralised lending, Reverse Repo and Tri-Party Repo 16,391 17,523 11,254 10,069 1,418,884 510,477 1,507 3,762
Securitised debt 54,092 83,807 - 2,479 - - - -
Less: Interest on borrowing - - - - - - - -
767,012 1,013,906 716,515 151,806 1,423,404 527,861 95,627 118,881
value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the Schemes
have paid management fee at annualised average rate as follows:
Management fee (excluding GST) at annualised average rate 0.29% 0.27% 0.18% 0.32% 0.03% # 1.16% 1.17%
# less then 0.01%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is apportioned to all
the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.

The total income and expenditure and these amounts as a percentage of the scheme’s average daily net assets on an annualised basis are provided below:
Rupees in '000
investments)
- amount 862,339 820,814 727,500 171,178 1,423,570 528,119 169,776 66,764
- amount 90,974 108,844 44,712 15,837 35,046 10,135 42,430 49,013
- as a percentage of average daily net assets 0.90% 0.89% 0.43% 0.78% 0.08% # 2.24% 2.21%
# less then 0.01%
117
Rupees in '000
AXIS
AXIS CREDIT AXIS CREDIT RISK AXIS CORPORATE
AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND CORPORATE
RISK FUND FUND DEBT FUND
DEBT FUND

Balance, beginning of year/period (15,026) 4,432 94,311 36,519 90,623 150,731 858 1,222
Net premium/discount on issue/redemption of units 441,198 87,053 571,809 36,812 (1,791,082) (1,925,690) 8,523,961 (50,244)
Transferred (to) / from equalisation account (403,723) (106,511) 234,790 20,980 1,748,216 1,865,582 (7,384,063) 49,880
Balance, end of year / period 22,449 (15,026) 900,910 94,311 47,757 90,623 1,140,756 858

Balance, beginning of year/period 5,981 1,908 172,969 - - - 12,329 10,657
investments (5,674) 4,073 (172,969) 172,969 36,031 - (12,329) 1,672
Balance, end of year/period 307 5,981 - 172,969 36,031 - - 12,329
Retained surplus
Balance, beginning of year/period 289,941 130,518 (53,175) (37,895) 3,594,615 4,955,365 316,872 276,529
Transferred (to) / from revenue account (1,168) (193) - - (1,059) (2,387) (400) (400)
Net Surplus / (Deficit) transferred from revenue account 499,340 159,616 (234,833) (15,280) (1,377,058) (1,358,363) 8,270,185 40,743
Balance, end of year / period 788,113 289,941 (288,008) (53,175) 2,216,498 3,594,615 8,586,657 316,872
Total reserves 810,869 280,896 612,902 214,105 2,300,286 3,685,238 9,727,413 330,059

as follows:
Regular IDCW - - 9,081 5,307 - - 2,229 769
Regular Growth 444,458 142,387 361,049 162,425 2,000,850 3,014,070 4,469,232 220,052
Regular Daily IDCW - - - - - - 88 76
Regular Weekly IDCW - - - - 93 142 280 167
Regular Monthly IDCW (12) 80 - - 625 1,378 709 93
Regular Quarterly IDCW - - - - - - - -
Regular Half Yearly IDCW 63 94 - - - - - -
Direct Growth 366,077 138,222 236,969 42,368 298,637 669,625 5,253,780 108,312
Direct Daily IDCW - - - - - - 24 10
Direct Weekly IDCW - - - - 4 4 56 2
Direct Monthly IDCW - - - - 77 19 242 206
Direct Quarterly IDCW (13) 70 - - - - - -
Direct Half Yearly IDCW 296 43 - - - - - -
Direct Regular IDCW - - 5,803 4,005 - - 773 372
Direct Bonus - - - - - - - -
810,869 280,896 612,902 214,105 2,300,286 3,685,238 9,727,413 330,059
- - - -

Amount due to AMC
- Management fees 1,555 343 - - 2,770 8,649 6,310 744
Trusteeship fee payable 1 - 1 - 2 4 16 1
- Lateral shift payable 387 32,796 3,856 1,429 33 643 1,250 991
- Others 469 432 3,678 3,462 9,394 24,157 22,583 183
Interscheme payable 2 - - 6 1,134 795 - 850
Contract for purchase of investments - 65,048 - - - 105,751 431,540 -
Registrar service fees payable 54 18 80 - 184 363 1,236 63
Dividend payable on units 85 - - - - 1 - -
Dividend distribution tax payable - - - - - - - -
Unit application pending allotment 238 1 661 125 - 1 23,280 10
Commission to distributors payable 251 86 405 194 3,629 5,021 10,823 777
Custody fees payable 5 4 7 5 19 91 126 15
Investor education expense payable 28 10 36 12 100 192 680 32
Interest payable on loan - - - - - - - -
Unclaimed Redemption & Dividend 70 1,652 1,445 1,604 1,106 449 6 -
Other current liabilities 374 50 3,080 459 887 1,596 1,310 108
3,586 100,499 13,310 7,326 19,407 147,832 499,175 3,893
Rupees in '000
AXIS
DEBT FUND
6. INVESTMENTS
Equity shares - - - - - - - -
Privately placed/ Unlisted debentures and bonds - - - - 231,409 717,533 - -
Listed debentures and bonds - - - - 4,289,938 8,346,732 29,142,678 1,664,911
Certificate of deposit - - - - - - 498,428 -
Commercial paper - - - - - - 1,714,189 -
Units of mutual fund - - 2,065,302 732,032 - - - -
Government securities (including treasury bills) 1,391,428 584,469 - - 578,709 418,847 4,443,775 26,465
Securitised debt - - - - 577,560 969,089 403,631 103,514
1,391,428 584,469 2,065,302 732,032 5,677,616 10,452,201 36,202,701 1,794,890
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the name of the fund), as per clause 7 of the Seventh Schedule
under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
118
AXIS
DEBT FUND
Equity shares
- appreciation - - - - - 1,646 - -
- depreciation - - - - 5,682 5,252 - -
- appreciation - - - - 47,945 58,997 52,561 19,107
- depreciation - - - - 11,127 63,394 176,133 6,780
- appreciation - - - - - - 73 -
Commercial paper
- appreciation - - - - - - 2,936 -
- appreciation - - - 172,969 - - - -
- depreciation - - 2,699 - - - - -
Securitised debt
- appreciation - - - - 6,989 1,211 5,132 -
- depreciation - - - - - 3,758 160 674
- appreciation 4,100 5,981 - - 87 6,313 3,836 677
- depreciation 3,793 - - - 2,181 392 11,980 -
AXIS
DEBT FUND
Other - amount 14,569,159 7,030,752 1,508,938 109,004 11,184,716 41,168,205 101,626,472 14,891,743

Other - amount 11,709,621 6,731,441 - 11,201 14,882,721 43,424,096 55,819,981 14,209,334
- as a percentage of average daily net assets 780.39% 1539.94% - 2.03% 233.44% 312.86% 290.01% 689.89%
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies which have invested in any scheme of the Fund
in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
AXIS
DEBT FUND
- - - - 4,850,262 9,983,314 23,696,980 1,660,300
Rupees in '000
AXIS
DEBT FUND
India Limited
10,000 - - - 50,000 - 250,000 -
119
Rupees in '000
AXIS
DEBT FUND
- - - - - - - -
Rupees in '000
AXIS
DEBT FUND
Balances with banks in current accounts 3,524 2,011 7,502 4,157 1,275 4,062 263,472 671
- Lateral shift receivable - 1,828 123 1,508 - 496 1 274
- Others - 375 - 462 10 35 3 28
Interscheme receivable - - 38 - - - 396 -
Contracts for sale of investments - - - - - 105,403 - -
Margin deposit with Clearing Corporation of India Limited 3,700 - 500 - 7,000 5,000 5,400 -
Outstanding and accrued income 13,316 12,686 - - 118,055 254,405 764,512 36,832
Amount due from AMC - - - - - - - -
Repo Reverse Repo and Tri-Party Repo 215,440 113,775 64,341 38,894 142,583 15,545 1,868,356 68,467
Unclaimed Redemption & Dividend (Invested in TREPS) 70 1,652 1,445 1,604 1,106 449 6 -
Other current assets 3 - - 57 - 397 - -
236,053 132,327 73,949 46,682 270,029 385,792 2,902,146 106,272
8. INTEREST
Money market instruments - - - - - 1,812 71,454 7,244

Debentures and bonds - - - - 441,414 981,617 837,263 122,538
Fixed deposits - - - - - - - -
Government securities (including treasury bills) 79,882 27,636 - - 23,919 31,088 165,079 6,992
Collateralised lending, Reverse Repo and Tri-Party Repo 4,206 1,551 1,859 781 7,390 12,447 60,181 6,970
Securitised debt - - - - 65,824 154,728 21,937 4,685
Less: Interest on borrowing - - - - - - - -
84,088 29,187 1,859 781 538,547 1,181,692 1,155,914 148,429
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the
investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the Schemes have paid management
fee at annualised average rate as follows:
AXIS
DEBT FUND
Management fee (excluding GST) at annualised average rate 0.32% 0.13% - - 0.81% 0.95% 0.18% 0.24%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is apportioned to all the
schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
AXIS
DEBT FUND
investments)
- amount 105,456 55,507 8,281 1,671 468,212 622,539 1,126,799 111,584
- amount 9,325 1,911 5,625 1,550 98,138 219,011 114,367 16,987
120
Rupees in '000
AXIS ULTRA AXIS ULTRA AXIS ALL SEASONSAXIS ALL SEASONS

AXIS MONEY AXIS MONEY
SHORT TERM SHORT TERM DEBT FUND OF DEBT FUND OF
MARKET FUND MARKET FUND
FUND FUND FUNDS FUNDS

Balance, beginning of year/period 78,203 10,654 (2,531) - 2,207 -
Net premium/discount on issue/redemption of units 2,361,576 651,918 1,251,729 21,581 38,562 2,795
Transferred (to) / from equalisation account (2,277,973) (584,369) (1,168,520) (24,112) (6,916) (588)
Balance, end of year / period 161,806 78,203 80,678 (2,531) 33,853 2,207

Balance, beginning of year/period - 27,079 - - 8,956 -
investments 6,205 (27,079) 11,134 - 29,081 8,956
Balance, end of year/period 6,205 - 11,134 - 38,037 8,956
Retained surplus
Balance, beginning of year/period 2,688,385 452,200 206,307 - 659 -
Transferred (to) / from revenue account (10,077) (2,140) (378) - - -
Net Surplus / (Deficit) transferred from revenue account 4,114,782 2,238,325 1,839,165 206,307 31,640 659
Balance, end of year / period 6,793,090 2,688,385 2,045,094 206,307 32,299 659
Total reserves 6,961,101 2,766,588 2,136,906 203,776 104,189 11,822

as follows:
Retail Growth - - - - - -
Regular IDCW 3,975 2,789 - - 47 8
Retail Daily IDCW - - - - - -
Retail Weekly IDCW - - - - - -
Retail Monthly IDCW - - - - - -
Regular Growth 5,008,102 1,902,437 620,418 20,160 26,911 1,858
Regular Daily IDCW 5,347 10,941 32 15 - -
Regular Weekly IDCW 432 1,236 - - - -
Regular Monthly IDCW 218 1,224 47 129 181 37
Regular Quarterly IDCW - - 37 21 47 6
Regular Half Yearly IDCW - - - - 18 1
Regular Annual IDCW - 119 85 158 16
Regular Bonus - - - - - -
Direct Growth 1,942,362 846,818 1,516,118 183,331 76,614 9,880
Direct Daily IDCW 32 320 4 30 - -
Direct Weekly IDCW 8 374 - - - -
Direct Monthly IDCW 87 199 11 1 34 3
Direct Quarterly IDCW - - 1 1 77 10
Direct Half Yearly IDCW - - - - - -
Direct Annual IDCW - - 119 3 54 1
Direct Regular IDCW 538 250 - - 48 2
Direct Bonus - - - - - -
6,961,101 2,766,588 2,136,906 203,776 104,189 11,822
- - -

Amount due to AMC
- Management fees 11,359 16,312 2,613 1,677 229 30
Trusteeship fee payable 22 11 9 2 # #
- Lateral shift payable 58,404 215,812 4,776 2,458 234 119
- Others 34,776 72,020 4,360 10,975 85 239
Interscheme payable - - 303 - - -
Contract for purchase of investments - - - - - -
Audit fee payable 6 119 122 119 62 34
Registrar service fees payable 1,750 1,183 215 50 33 21
Dividend payable on units - 2 9 - - -
Dividend distribution tax payable - 263 - 1 - -
Unit application pending allotment 57,488 2,389 11,331 - 120 -
Commission to distributors payable 25,446 16,920 632 87 61 23
Custody fees payable 173 292 75 40 3 5
Investor education expense payable 936 592 408 92 18 12
Interest payable on loan - - - - - -
Unclaimed Redemption & Dividend 819 3 34 - - -
Other current liabilities 11,632 12,150 1,141 86 82 97
202,811 338,068 26,028 15,587 927 580
# Amount less than Rs. 0.5 thousand
121
Rupees in '000
AXIS ULTRA AXIS ULTRA AXIS ALL SEASONS AXIS ALL SEASONS
6. INVESTMENTS
Equity shares - - - - - -
Privately placed/ Unlisted debentures and bonds - 402,082 - - - -
Listed debentures and bonds 16,581,973 16,294,633 - - - -
Certificate of deposit 2,960,732 2,425,710 3,926,708 952,198 - -
Commercial paper 16,837,825 2,476,705 13,881,645 3,122,583 - -
Units of mutual fund - - - - 1,093,869 618,769
Government securities (including treasury bills) 7,288,067 - 1,944,819 - - -
Securitised debt 854,231 2,663,628 - - - -
44,522,828 24,262,758 19,753,172 4,074,781 1,093,869 618,769
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the name of
the fund), as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Equity shares
- appreciation - - - - - -
- depreciation - - - - - -
- appreciation - 1,881 - - - -
- appreciation 77,579 29,375 - - - -
- depreciation 70,219 54,332 - - - -
- appreciation 1,789 506 3,143 2,007 - -
- depreciation - 9,375 - 4,653 - -
Commercial paper
- appreciation 12,803 2,198 14,046 791 - -
- depreciation - 3,506 41 5,694 - -
- appreciation - - - - 38,037 8,956
Securitised debt
- appreciation 2,213 10,541 - - - -
- depreciation - 2,923 - - - -
- appreciation 217 - 63 - - -
- depreciation 18,177 - 6,077 - - -
122
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
to to to to to to
Other - amount 168,538,709 118,176,380 71,670,376 26,877,463 1,483,156 835,500
- as a percentage of average daily net assets 395.09% 439.91% 483.89% 605.03% 195.05% 137.94%

Other - amount 62,299,487 46,814,073 41,376,205 21,049,140 1,062,677 225,227
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies
which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
34,581,822 22,305,078 17,211,560 4,074,781 1,093,869 618,769
Rupees in '000
India Limited
250,000 - 250,000 - - -
Rupees in '000
- - - - - -
Rupees in '000
Balances with banks in current accounts 314,745 92,755 145,872 2,793 2,572 372
- Lateral shift receivable 3,237 11,483 - 129 - 292
- Others 1,501 41,064 275 361 - 56
Interscheme receivable 2,842 166 - 9 3 -
Contracts for sale of investments 1,026,049 - - - - -
Margin deposit with Clearing Corporation of India Limited 19,800 - 20,300 - 300 -
Outstanding and accrued income 638,703 846,242 8,500 - - -
Amount due from AMC - - - - - -
Cash margin money placed for derivatives - - - - - -
Repo Reverse Repo and Tri-Party Repo 1,035,177 2,445,562 2,389,421 477,533 38,527 5,921
Unclaimed Redemption & Dividend (Invested in TREPS) 819 3 34 - - -
Other current assets 20 596 - - - -
3,042,893 3,437,871 2,564,402 480,825 41,402 6,641
123
Rupees in '000
to to to to to to
8. INTEREST
Money market instruments 558,387 625,962 510,432 163,397 - -

Debentures and bonds 1,298,749 1,169,268 - - - -
Fixed deposits - - - - - -
Government securities (including treasury bills) 266,071 17,561 101,764 9,769 - -
Collateralised lending, Reverse Repo and Tri-Party Repo 113,758 82,407 41,378 14,326 512 348
Securitised debt 144,158 135,914 - - - -
Less: Interest on borrowing - - - - - -
2,381,123 2,031,112 653,574 187,492 512 348
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average
daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits
including interest thereon as applicable. During the year ended March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:
Management fee (excluding GST) at annualised average rate 0.23% 0.23% 0.11% 0.10% 0.13% 0.10%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020)
(excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum
on average net assets of all the schemes.
to to to to to to
investments)
- amount 2,256,161 2,050,983 691,466 197,773 26,842 353
- amount 382,870 250,361 27,684 5,393 2,118 282
124
11. RELATED PARTY TRANSACTIONS
(i)
The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on
'Related Party Disclosures' issued by the Institute of Chartered Accountants of India is provided below.
(a) Related party relationships
Name Description of relationship
Axis Bank Limited Sponsor of the Fund and the Holding Company of The Scheme's asset manager
Axis Mutual Fund Trustee Limited Trustee of the Fund
Axis Asset Management Company Limited The Schemes asset manager
Schemes of the Fund, under common control of the Sponsor
AXIS LIQUID FUND AXIS NIFTY ETF
AXIS TREASURY ADVANTAGE FUND AXIS CORPORATE DEBT FUND
AXIS BLUECHIP FUND AXIS DYNAMIC EQUITY FUND
AXIS LONG TERM EQUITY FUND AXIS EQUITY ADVANTAGE FUND - SERIES 2
AXIS SHORT TERM FUND AXIS FLEXICAP FUND
AXIS REGULAR SAVER FUND AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS)
AXIS TRIPLE ADVANTAGE FUND AXIS FIXED TERM PLAN - SERIES 95 (1185 DAYS)
AXIS GOLD ETF AXIS EQUITY HYBRID FUND
AXIS MIDCAP FUND AXIS FIXED TERM PLAN - SERIES 96 (1124 DAYS)
AXIS DYNAMIC BOND FUND AXIS ULTRA SHORT TERM FUND
AXIS GOLD FUND AXIS FIXED TERM PLAN - SERIES 97 (1116 DAYS)
AXIS GILT FUND AXIS GROWTH OPPORTUNITIES FUND
AXIS STRATEGIC BOND FUND AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS)
AXIS BANKING & PSU DEBT FUND AXIS FIXED TERM PLAN - SERIES 100 (1172 DAYS)
AXIS FOCUSED 25 FUND AXIS FIXED TERM PLAN - SERIES 101 (1154 DAYS)
AXIS ARBITRAGE FUND AXIS FIXED TERM PLAN - SERIES 102 (1133 DAYS)
AXIS CREDIT RISK FUND AXIS OVERNIGHT FUND
AXIS EQUITY SAVER FUND AXIS FIXED TERM PLAN - SERIES 104 (1112 DAYS)
AXIS CHILDREN'S GIFT FUND AXIS MONEY MARKET FUND
AXIS SMALL CAP FUND AXIS NIFTY 100 INDEX FUND
AXIS HYBRID FUND - SERIES 31 (1381 DAYS) AXIS RETIREMENT SAVINGS FUND - AGGRESSIVE PLAN
AXIS HYBRID FUND - SERIES 32 (1367 DAYS) AXIS RETIREMENT SAVINGS FUND - CONSERVATIVE PLAN
AXIS HYBRID FUND - SERIES 33 (1358 DAYS) AXIS RETIREMENT SAVINGS FUND - DYNAMIC PLAN
AXIS HYBRID FUND - SERIES 35 (1359 DAYS) AXIS ALL SEASONS DEBT FUND OF FUNDS
AXIS EMERGING OPPORTUNITIES FUND - SERIES 1 (1400 DAYS) AXIS ESG EQUITY FUND
AXIS EMERGING OPPORTUNITIES FUND - SERIES 2 (1400 DAYS) AXIS GLOBAL EQUITY ALPHA FUND OF FUND
AXIS HYBRID FUND - SERIES 5 (1346 DAYS) AXIS BANKING ETF
AXIS HYBRID FUND - SERIES 6 (1324 DAYS) AXIS SPECIAL SITUATIONS FUND
AXIS HYBRID FUND - SERIES 7 (1305 DAYS) AXIS GREATER CHINA EQUITY FUND OF FUND
AXIS EQUITY ADVANTAGE FUND - SERIES 1 AXIS TECHNOLOGY ETF
Other Related Parties with whom transactions have taken place:
Axis Securities Limited Associate of the Fund and Fellow subsidiary of investment manager
Axis Capital Limited (Associate) Associate of the Fund and Fellow subsidiary of investment manager
The Central Depository Services (India) Ltd (Associate) Associate of the Fund
Mr.Sugriv Singh rathore Relative of AMC Employee
Accelyst Solutions Private Limited Group Company of the Sponsor
Freecharge Payment Technologies Private Limited Group Company of the Sponsor
(b) Transactions with Related Parties and closing balances:
(i) Interscheme transactions covered by Accounting Standard-18 are provided in Attachment 2.
(ii) Transactions other than interscheme transactions covered by Accounting Standard-18:

Rupees in '000
AXIS LIQUID FUND

Year ended Year ended Balance as at Balance as at
Name of related party Nature of transactions March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Axis Mutual Fund Trustee Limited Fees for trusteeship services 1,110 1,554 99 98
Axis Asset Management Company Limited Fees for investment management services (including GST) 371,555 223,406 60,205 12,647
Axis Asset Management Company Limited Receivable for other expenses - - - 4,913
Axis Bank Limited Purchase of securities - 32,102,830 - -
Axis Bank Limited Sale of securities - - - -
Axis Bank Limited Subscription of units at NAV 4,476,035 - 862 -
Axis Bank Limited Redemption of units at NAV 4,483,883 - - -
Axis Mutual Fund Trustee Limited Subscription of units at NAV 963 3,290 3,342 6,596
Axis Mutual Fund Trustee Limited Redemption of units at NAV 613 1,845 - -
Axis Asset Management Company Limited Subscription of units at NAV 1,915,772 3,992,200 353,407 3,117,789
Axis Asset Management Company Limited Redemption of units at NAV 2,976,754 2,379,800 - -
Axis Capital Limited Subscription of units at NAV 2,604,351 3,521,175 - -
Axis Capital Limited Redemption of units at NAV 2,604,351 3,528,100 - -
Axis Trustee Services Limited Subscription of units at NAV 46,425 307,500 68,330 137,287
Axis Trustee Services Limited Redemption of units at NAV 40,375 196,279 - -
Axis Finance Limited Subscription of units at NAV - 22,570,000 - -
Axis Finance Limited Redemption of units at NAV - 22,575,417 - -
Axis Liquid Fund Purchase of securities - - - -
Axis Liquid Fund Sale of securities - - - -
Axis Securities Limited Subscription of units at NAV 13,741 - 3 -
Axis Securities Limited Redemption of units at NAV 13,748 - - -
Axis All Season Debt Fund of Funds Subscription of units at NAV - - - -
Accelyst Solutions Private Limited Subscription of units at NAV 93,937 - 218 -
Accelyst Solutions Private Limited Redemption of units at NAV 93,719 - - -
Freecharge Payment Technologies Private Limited Subscription of units at NAV 266,705 - 193,807 -
Freecharge Payment Technologies Private Limited Redemption of units at NAV 72,898 - - -
125
Rupees in '000
AXIS TREASURY ADVANTAGE FUND
Axis Mutual Fund Trustee Limited Fees for trusteeship services 309 138 35 19
Axis Asset Management Company Limited Receivable for other expenses - - - -
Axis Bank Limited Subscription of units at NAV 546 - - -
Axis Bank Limited Redemption of units at NAV 871 - - -
Axis Mutual Fund Trustee Limited Subscription of units at NAV - - 100 210
Axis Mutual Fund Trustee Limited Redemption of units at NAV - - - -
Axis Asset Management Company Limited Subscription of units at NAV 1,223,098 - 1,226,268 7,371
Axis Asset Management Company Limited Redemption of units at NAV - - - -
Axis Capital Limited Subscription of units at NAV - - - #
Axis Capital Limited Redemption of units at NAV - - - -
Axis Trustee Services Limited Subscription of units at NAV 4,097 - 4,097 -
Axis Trustee Services Limited Redemption of units at NAV - - - -
Axis Finance Limited Subscription of units at NAV - - - -
Axis Finance Limited Redemption of units at NAV - - - -
Axis Liquid Fund Purchase of securities - - -
Axis Liquid Fund Sale of securities - - -
Axis Securities Limited Subscription of units at NAV 4,640 15 # #
Axis Securities Limited Redemption of units at NAV 4,640 15 - -
Axis All Season Debt Fund of Funds Subscription of units at NAV 13,866 - 13,866 -
Accelyst Solutions Private Limited Subscription of units at NAV - - - -
Accelyst Solutions Private Limited Redemption of units at NAV - - - -
Freecharge Payment Technologies Private Limited Subscription of units at NAV - - - -
Freecharge Payment Technologies Private Limited Redemption of units at NAV - - - -
Rupees in '000
AXIS BANKING & PSU DEBT FUND
Axis Bank Limited Subscription of units at NAV 11,250 - - -
Axis Bank Limited Redemption of units at NAV 11,250 - - -
Axis Mutual Fund Trustee Limited Subscription of units at NAV - - - -
Axis Mutual Fund Trustee Limited Redemption of units at NAV - - - -
Axis Asset Management Company Limited Subscription of units at NAV - - 3,875 7,521
Axis Capital Limited Subscription of units at NAV - 500,000 - 256,258
Axis Capital Limited Redemption of units at NAV 132,024 250,429 - -
Axis Trustee Services Limited Subscription of units at NAV - - - -
Axis Trustee Services Limited Redemption of units at NAV - - - -
Axis Finance Limited Subscription of units at NAV - - - -
Axis Finance Limited Redemption of units at NAV - - - -
Accelyst Solutions Private Limited Subscription of units at NAV - - - -
Accelyst Solutions Private Limited Redemption of units at NAV - - - -
Freecharge Payment Technologies Private Limited Subscription of units at NAV - - - -
Freecharge Payment Technologies Private Limited Redemption of units at NAV - - - -
Rupees in '000
AXIS SHORT TERM FUND
Axis Asset Management Company Limited Payable for other expenses - - - -
Axis Bank Limited Subscription of units at NAV 2,909,514 - # -
Axis Bank Limited Redemption of units at NAV 3,095,970 - - -
Axis All Season Debt Fund of Funds Redemption of units at NAV - - - -
Axis Securities Limited Subscription of units at NAV 39,492 - - -
126
Rupees in '000
AXIS STRATEGIC BOND FUND
Axis Bank Limited Purchase of securities - 900,000 - -
Axis Bank Limited Sale of securities - 246,486 - -
Axis Bank Limited Subscription of units at NAV 300,000 - - 9
Axis All Season Debt Fund of Funds Subscription of units at NAV 6,067,527 - 6,067,527 -
Axis All Season Debt Fund of Funds Redemption of units at NAV - - - -
Axis Securities Limited Subscription of units at NAV - - - -
Axis Securities Limited Redemption of units at NAV - - - -
Rupees in '000
AXIS DYNAMIC BOND FUND
Axis Asset Management Company Limited Fees for investment management services (including GST) 21,573 7,698 4,231 782
Axis Bank Limited Subscription of units at NAV - - - -
Axis Bank Limited Redemption of units at NAV - - - -
Axis All Season Debt Fund of Funds Subscription of units at NAV 1,497,065 81,500 - 64,703
Axis All Season Debt Fund of Funds Redemption of units at NAV 4,316,307 18,000 - -
Rupees in '000
AXIS OVERNIGHT FUND

Axis Finance Limited Subscription of units at NAV 13,058,952 11,400,000 1,378,834 -
Axis Finance Limited Redemption of units at NAV 11,680,118 11,401,994 - -
Axis Banking and PSU Debt Fund Subscription of units at NAV - 1,000,000 - -
Axis Banking and PSU Debt Fund Redemption of units at NAV - 1,000,143 - -
Axis Dynamic Bond Fund Subscription of units at NAV - 250,000 - -
Axis Dynamic Bond Fund Redemption of units at NAV - 250,036 - -
Axis Dynamic Equity Fund Subscription of units at NAV - 2,000,000 - -
Axis Dynamic Equity Fund Redemption of units at NAV - 2,000,286 - -
Axis Equity Hybrid Fund Subscription of units at NAV - 500,000 - -
Axis Equity Hybrid Fund Redemption of units at NAV - 500,071 - -
Axis Equity Saver Fund Subscription of units at NAV - 250,000 - -
Axis Equity Saver Fund Redemption of units at NAV - 250,036 - -
Axis All Season Debt Fund of Funds Subscription of units at NAV 475,684 148,700 46,170 -
Axis All Season Debt Fund of Funds Redemption of units at NAV 429,514 148,731 - -
Axis Strategic Bond Fund Subscription of units at NAV - 1,250,000 - -
Axis Strategic Bond Fund Redemption of units at NAV - 1,250,179 - -
Axis Securities Limited Subscription of units at NAV 167 - - -
Axis Securities Limited Redemption of units at NAV 167 - - -
Axis Capital Limited Subscription of units at NAV 6,939,801 6,105,175 - -
Axis Capital Limited Redemption of units at NAV 6,939,801 7,306,304 - -
Accelyst Solutions Private Limited Subscription of units at NAV 1,881,277 - 89,891 -
Accelyst Solutions Private Limited Redemption of units at NAV 1,791,711 - - -
Freecharge Payment Technologies Private Limited Subscription of units at NAV 1,448,036 - 425,997 -
Freecharge Payment Technologies Private Limited Redemption of units at NAV 1,055,442 - - -
127
Rupees in '000
AXIS REGULAR SAVER FUND
The Indian Hotels Company Limited Purchase of securities 10,805 - - -
Rupees in '000
AXIS GILT FUND
Axis Mutual Fund Trustee Limited Fees for trusteeship services 6 2 1 #
Axis Asset Management Company Limited Fees for investment management services (including GST) 5,634 642 1,555 343
Axis Bank Limited Purchase of securities - - - -
The Indian Hotels Company Limited Purchase of securities - - - -
Rupees in '000
AXIS GOLD FUND
Axis Asset Management Company Limited Fees for investment management services (including GST) - - - -
The Indian Hotels Company Limited Purchase of securities - - - -
Rupees in '000
AXIS CREDIT RISK FUND
Axis All Season Debt Fund of Fund Purchase of securities - 82,150 - 83,179
Axis Bank Limited Subscription of units at NAV 3,709,446 1,002 - 12,207
Axis Bank Limited Redemption of units at NAV 4,467,468 104 - -
Axis All Season Debt Fund of Fund Subscription of units at NAV 3,765,084 - 7,804,336 -
Axis All Season Debt Fund of Fund Redemption of units at NAV 1,095,244 - - -
Axis Securities Limited Purchase of securities - 1,546 - 755
Axis Securities Limited Sale of securities - 795 - -
128
Rupees in '000
AXIS CORPORATE DEBT FUND
Axis Bank Limited Purchase of securities - 200,144 - 120,895
Axis All Season Debt Fund of Fund Purchase of securities - - - -
Axis Asset Management Company Limited Subscription of units at NAV 59,456,246 - 59,956,246 6,168
Axis Bank Limited Redemption of units at NAV - - - -
Axis All Season Debt Fund of Fund Subscription of units at NAV - - - -
Axis All Season Debt Fund of Fund Redemption of units at NAV - - - -
Axis Securities Limited Purchase of securities - - - -
Axis Securities Limited Sale of securities - - - -
Rupees in '000
AXIS ULTRA SHORT TERM FUND
Axis All Season Debt Fund of Fund Purchase of securities - - - -
Axis All Season Debt Fund of Fund Subscription of units at NAV - - - -
Axis All Season Debt Fund of Fund Redemption of units at NAV - - - -
Axis Trustee Services Limited Subscription of units at NAV 2,551,603 - 2,551,603 -
Axis Securities Limited Purchase of securities - - - -
Axis Securities Limited Sale of securities - - - -
Rupees in '000
AXIS MONEY MARKET FUND
Year ended Period ended Balance as at Balance as at
Axis Trustee Services Limited Subscription of units at NAV 50,127 - 50,127 -
Axis Asset Management Company Limited Subscription of units at NAV 1,038,991 5,000 1,034,869 5,237
Axis Asset Management Company Limited Redemption of units at NAV 9,122 - - -
Rupees in '000
AXIS ALL SEASONS DEBT FUND OF FUNDS
Year ended Period ended Balance as at Balance as at
Axis Mutual Fund Trustee Limited Fees for trusteeship services 3 1 # #
Axis Asset Management Company Limited Fees for investment management services (including GST) 1,140 120 229 30
Axis Asset Management Company Limited Subscription of units at NAV - 5,000 500,000 5,097
129
(iii) Transactions covered by Regulation 25(8) of the SEBI Regulation with the sponsor, associates, employees or their relatives of AMC:
Rupees in '000
Name of sponsor, associates, employees or
their relatives of AMC (Nature of relation) AXIS TREASURY AXIS TREASURY AXIS BANKING & AXIS BANKING & AXIS SHORT
ADVANTAGE FUND ADVANTAGE FUND PSU DEBT FUND PSU DEBT FUND TERM FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021
Axis Bank Limited (Sponsor)
Bank charges 791 1,212 108 69 203 167 167
Commission paid on distribution of units * 2,280 4,680 5,655 7,789 7,585 2,742 35,075
Mr.Sugriv Singh rathore (Relative of AMC
Employee)
Commission paid on distribution of units - - - - - - -
Urvi Mahendra Dedhia (Relative of AMC
Employee)
Commission paid on distribution of units - - - # - - -
Florine Rodrigues Thakkar (Relative of AMC
Employee)
Commission paid on distribution of units - # - # - - -
Axis Securities Limited (Associate)
Demat Charges 34 - 10 - 6 - 8
Commission paid on distribution of units 68 80 46 19 149 82 77
Rupees in '000
their relatives of AMC (Nature of relation) AXIS
AXIS SHORT TERM AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC AXIS OVERNIGHT
OVERNIGHT
FUND BOND FUND BOND FUND BOND FUND BOND FUND FUND
FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended
Bank charges 110 21 58 16 13 248 60
Commission paid on distribution of units * 11,877 4,163 4,359 2,181 1,112 213 118
Employee)
Commission paid on distribution of units 2 - 10 - 11 - -
Urvi Mahendra Dedhia (Relative of AMC
Employee)
Employee)
Demat Charges - # - 1 - 2 -
Commission paid on distribution of units 42 23 28 36 14 3 5
Rupees in '000
AXIS REGULAR AXIS REGULAR AXIS GOLD AXIS CREDIT AXIS CREDIT RISK
their relatives of AMC (Nature of relation) AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND
SAVER FUND SAVER FUND FUND RISK FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended
Professional clearing member charges - - - - - - - -
Bank charges 22 61 4 4 34 71 12 42
Commission paid on distribution of units * 6,092 9,147 205 151 1,819 878 10,014 17,150
The Central Depository Services (India) Ltd
(Associate)
Corporate Action Fees / Dispatch of Consolidated
Account Statement - - - -
Demat Charges # - 1 - 3 - # -
Commission paid on distribution of units 32 22 20 5 14 (2) 25 30
Employee)
Commission paid on distribution of units - - - - - - - -
Axis Capital Limited (Associate)
Brokerage on trades 109 22 - - - - - -
Rupees in '000
Name of sponsor, associates, employees or AXIS ULTRA AXIS ULTRA AXIS ALL SEASONS AXIS ALL SEASONS
AXIS CORPORATE AXIS CORPORATE AXIS MONEY AXIS MONEY
their relatives of AMC (Nature of relation) SHORT TERM SHORT TERM DEBT FUND OF DEBT FUND OF
DEBT FUND DEBT FUND MARKET FUND MARKET FUND
Professional clearing member charges - - - - - - - -
Bank charges 29 6 69 58 21 6 1 #
Commission paid on distribution of units * 3,553 1,588 35,687 24,339 779 154 80 9
(Associate)
Corporate Action Fees / Dispatch of Consolidated
Account Statement - - - -
Demat Charges 1 - 16 - 1 - # -
Commission paid on distribution of units # # 67 26 64 2 2 #
Employee)
Commission paid on distribution of units - 1 - # - - - -
Brokerage on trades - - - - - - - -
* Includes transaction charges - -

Associate companies have been paid commission on normal commercial terms at a basis of an arm's length for procuring unit subscriptions for the Schemes.
130
(iv) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement
basis where the sponsor or associate companies have acted as arranger or lead manager.
F.Y. 2020-2021 Rupees in '000
Arranger Scheme Name Date Security Type Name of the security Face Value
Toubro Ltd
Axis Bank Limited
Axis Short Term Fund 20-Apr-20 Corporate Bond 20.04.2020 500,000
F.Y. 2019-2020 Rupees in '000

Arranger Scheme Name Date Security Type Name of the security Face Value
TOUBRO LTD
Axis Short Term Fund 18-Apr-19 Corporate Bond 18.04.2022 700,000
Axis Bank Limited
Axis Banking & PSU TOUBRO LTD
Debt Fund 18-Apr-19 Corporate Bond 18.04.2022 300,000
12. Investments made during the year in the sponsor company and its group companies at cost
Rupees in '000
Name of sponsor company and its group
companies AXIS TREASURY
AXIS TREASURY AXIS BANKING & AXIS BANKING &
AXIS LIQUID FUND AXIS LIQUID FUND ADVANTAGE
ADVANTAGE FUND PSU DEBT FUND PSU DEBT FUND
FUND
Year ended Year ended Year ended Year ended Year ended Year ended
Axis Bank Limited *
Investment made by the Scheme - - - - - -
Investment made by other schemes 29,761,226 5,600,342 29,761,226 5,600,342 29,761,226 5,600,342
Total investments 29,761,226 5,600,342 29,761,226 5,600,342 29,761,226 5,600,342
Rupees in '000
companies AXIS
AXIS SHORT AXIS SHORT TERM AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC AXIS OVERNIGHT
OVERNIGHT
TERM FUND FUND BOND FUND BOND FUND BOND FUND BOND FUND FUND
FUND
Axis Bank Limited *
Investment made by the Scheme - - - - - - - -
Investment made by other schemes 29,761,226 5,600,342 29,761,226 5,600,342 29,761,226 5,600,342 29,761,226 5,600,342
Total investments 29,761,226 5,600,342 29,761,226 5,600,342 29,761,226 5,600,342 29,761,226 5,600,342
Rupees in '000
AXIS REGULAR SAVER FUND AXIS GILT FUND AXIS GOLD FUND AXIS CREDIT RISK FUND
companies
Axis Bank Limited *
Investments made by the Scheme - - - - - - - -
Rupees in '000
AXIS CORPORATE DEBT FUND AXIS ULTRA SHORT TERM FUND AXIS MONEY MARKET FUND AXIS ALL SEASONS DEBT FUND OF FUNDS
companies
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended
Axis Bank Limited *
Investments made by the Scheme - - - - - - - -
*Amount represents investment in fixed deposits, equities and derivatives (futures are disclosed at notional value).
131
13. DERIVATIVES DISCLOSURE
Disclosure for derivative transactions as required by SEBI circular Cir/IMD/DF/11/2010 dated August 18, 2010, has been made in Attachment 3.
14. NET ASSET VALUE

Rupees
AXIS TREASURY ADVANTAGE AXIS TREASURY AXIS BANKING & PSU AXIS BANKING & PSU
Options FUND ADVANTAGE FUND DEBT FUND DEBT FUND
Face Value Rs. 1,000 Face Value Rs. 1,000 Face Value Rs. 1,000 Face Value Rs. 1,000 Face Value Rs. 1000 Face Value Rs. 1000
RG Retail Growth 2,125.7941 2,062.6268 2,251.0273 2,114.8497 - -
RD Retail Daily IDCW 1,000.9559 1,000.9559 1,012.4736 1,005.5662 - -
RW Retail Weekly IDCW 1,000.7712 1,001.0013 1,012.0696 1,006.0079 - -
RM Retail Monthly IDCW 1,001.1965 1,004.3392 1,010.8470 1,010.3497 - -
IG Regular Growth 2,272.7283 2,194.1982 2,400.9732 2,255.7326 2,059.4026 1,911.3641
ID Regular Daily IDCW 1,001.3997 1,001.3998 1,013.2484 1,006.2339 1,039.1302 1,022.4957
IW Regular Weekly IDCW 1,002.1933 1,002.4823 1,012.0696 1,006.7383 1,038.8619 1,024.5089
IM Regular Monthly IDCW 1,001.8605 1,004.9983 1,010.8444 1,010.3398 1,034.5240 1,024.8823
ZG Direct Growth 2,284.7906 2,204.3341 2,482.5840 2,325.0996 2,097.7900 1,940.9930
ZD Direct Daily IDCW 1,000.9560 1,000.9243 1,012.4787 1,007.2893 1,039.1306 1,022.4960
ZW Direct Weekly IDCW 1,002.1955 1,002.4839 1,012.0787 1,006.0124 1,038.8733 1,024.5181
ZM Direct Monthly IDCW 1,001.2817 1,004.4095 1,010.8984 1,010.6311 1,034.5853 1,025.1822
ZB Direct Bonus - 2,204.3605 - - - -
Rupees
AXIS SHORT TERM AXIS SHORT TERM AXIS STRATEGIC BOND

Options FUND FUND FUND
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
Regular Growth 23.8935 22.1395 21.1238 19.5575
Regular Daily IDCW - - - -
Regular Quarterly IDCW - - 10.4118 10.5904
Regular Half Yearly IDCW - - 10.8730 10.6331
Retail Growth 23.6254 21.8896 - -
Regular IDCW 15.9843 14.8107 - -
Retail Weekly IDCW 10.2325 10.1728 - -
Retail Monthly IDCW 10.0503 10.1440 - -
Regular Weekly IDCW 10.4026 10.2640 - -
Regular Monthly IDCW 10.2367 10.3273 - -
Regular Bonus - 22.2660 - -
Direct Growth 25.4019 23.3754 22.5532 20.7346
Direct Regular IDCW - - - -
Direct Daily IDCW 15.5428 14.3029 - -
Direct Weekly IDCW 10.2531 10.2646 - -
Direct Monthly IDCW 10.0581 10.1517 - -
Direct Quarterly IDCW - - 10.5139 10.6128
Direct Half Yearly IDCW - - 11.4924 11.1292
Rupees
AXIS DYNAMIC BOND AXIS DYNAMIC BOND AXIS OVERNIGHT

AXIS OVERNIGHT FUND
Options FUND FUND FUND
Regular Growth 22.9350 21.3032 1,086.6086 1,054.7815
Regular Daily IDCW - - 1,000.5032 1,000.5032
Regular Quarterly IDCW 10.8040 10.7890 - -
Regular Half Yearly IDCW 10.6540 10.7440 - -
Retail Growth - - - -
Regular IDCW - - - -
Retail Weekly IDCW - - - -
Retail Monthly IDCW - - - -
Regular Weekly IDCW - - 1,000.7608 1,000.6828
Regular Monthly IDCW - - 1,001.3627 1,000.9334
Regular Bonus - - - -
Direct Growth 24.8110 22.9506 1,087.9196 1,055.5162
Direct Daily IDCW - - 1,000.5061 1,000.5073
Direct Weekly IDCW - - 1,000.7950 1,000.7157
Direct Monthly IDCW - - 1,001.3792 1,000.9470
Direct Quarterly IDCW 10.8116 10.9406 - -
Direct Half Yearly IDCW 11.7446 11.7990 - -
132
Rupees
AXIS REGULAR AXIS REGULAR

Options AXIS GILT FUND AXIS GILT FUND
SAVER FUND SAVER FUND
Regular Growth 22.4085 18.7629 19.7661 18.2559
Regular IDCW - - 9.9658 10.2061
Regular Weekly IDCW - - - -
Regular Monthly IDCW - - - -
Regular Half Yearly IDCW 11.9362 10.1699 10.7831 10.8958
Regular Annual IDCW 12.1726 10.1923 - -
Direct Growth 24.7824 20.5262 20.6160 18.9589
Direct IDCW - - - -
Direct IDCW - - 9.9776 10.2113
Direct Weekly IDCW - - - -
Direct Monthly IDCW - - - -
Direct Half Yearly IDCW 12.1870 10.5398 10.9399 10.9826
Direct Annual IDCW 13.3397 11.0612 - -
Rupees
AXIS CREDIT RISK AXIS CREDIT RISK

Options AXIS GOLD FUND AXIS GOLD FUND
FUND FUND
Regular Growth 13.6994 13.6637 16.2892 15.1662
Regular IDCW 13.7170 13.6823 - -
Regular Weekly IDCW - - 10.1704 10.1703
Regular Monthly IDCW - - 10.1471 10.1711
Regular Quarterly IDCW - - - -
Regular Half Yearly IDCW - - - -
Regular Annual IDCW - - - -
Direct Growth 14.7354 14.6580 17.5905 16.2000
Direct IDCW 14.7491 14.6711 - -
Direct IDCW - - - -
Direct Weekly IDCW - - 10.2507 10.2571
Direct Monthly IDCW - - 10.1553 10.1233
Direct Quarterly IDCW - - - -
Direct Half Yearly IDCW - - - -
Direct Annual IDCW - - - -
133
Rupees
AXIS CORPORATE AXIS CORPORATE AXIS ULTRA SHORT TERM AXIS ULTRA SHORT
Options
DEBT FUND DEBT FUND FUND TERM FUND
Regular Growth 13.1754 12.0639 11.6941 11.1870
Regular Daily IDCW 10.2347 10.1540 10.0689 10.0624
Regular IDCW 13.1763 12.0647 11.6939 11.1872
Regular Weekly IDCW 10.2517 10.1676 10.0694 10.0721
Regular Monthly IDCW 10.2073 10.1734 10.0429 10.0983
Regular Half Yearly IDCW - - - -
Regular Annual IDCW - - - -
Bonus - - - -
Direct Growth 13.5664 12.3364 11.9632 11.3421
Direct Daily IDCW 10.2348 10.1583 10.0338 10.0338
Direct IDCW 13.5625 12.3332 11.9665 11.3453
Direct Weekly IDCW 10.3699 10.1733 10.0526 10.0551
Direct Monthly IDCW 10.2113 10.1879 10.0458 10.0915
Direct Annual IDCW - - - -
In Rupees
AXIS ALL SEASONS
AXIS MONEY AXIS MONEY AXIS ALL SEASONS
Options DEBT FUND OF
MARKET FUND MARKET FUND DEBT FUND OF FUNDS
FUNDS
Regular Growth 1,104.2394 1,046.4609 10.9852 10.1883
Regular Daily IDCW 1,005.6127 1,002.4686 - -
Regular IDCW - - 10.9851 10.1942
Regular Weekly IDCW - - - -
Regular Monthly IDCW 1,006.4809 1,008.5878 10.9846 10.1914
Regular Quarterly IDCW 1,035.2113 1,019.5403 10.9854 10.1884
Regular Half Yearly IDCW - - 11.8316 11.3724
Regular Annual IDCW 1,104.2309 1,046.4565 11.0131 10.2232
Bonus - - - -
Direct Growth 1,106.8851 1,047.4197 11.0209 10.1937
Direct Daily IDCW 1,005.6107 1,002.5075 - -
Direct IDCW - - 11.0256 10.1939
Direct Weekly IDCW - - - -
Direct Monthly IDCW 1,008.4030 1,009.6290 11.0304 10.1995
Direct Quarterly IDCW 1,038.0490 1,020.2798 11.0242 10.1938
Direct Annual IDCW 1,107.0819 1,047.6255 11.0252 10.1937
The net asset value of the Scheme’s units are determined separately for units issued under the options after including the respective unit
capital and reserves and surplus.
The net asset value disclosed above represents the computed/declared NAV as on balance sheet date.
The historical per unit (HPU) data is disclosed in attachment 4.
134
15. CONTINGENT LIABILITY
Contingent liabilities as on March 31, 2021: NIL (previous year - NIL).
Details of Capital commitment on account of Partly paid-up shares are as follows:

Rupees in '000
Scheme Name Security Name Uncalled Amount
As at March 31, 2021 As at March 31, 2020
Axis Regular Saver Fund Reliance Industries Limited 1,208 -
16. SEGMENT REPORTING

The schemes operates in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.
17. CREDIT DEFAULT SWAPS

There were no transactions in credit default swaps during the year ended March 31, 2021. (previous year - NIL).
18. INVESTOR EDUCATION AND AWARENESS PROGRAM

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part
of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so
set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose
of IEAI on monthly basis and the unspent amounts are deployed in TREPS (TRI Party Repo).
The details are as follows:
Rupees in '000
Particulars F.Y. 2020-21 F.Y. 2019-20
Opening balance 175,977 90,691
Additions during the year* 341,502 241,040
Less : Utilisation during the year 24,308 41,723
Less : Amount transferred to AMFI ^ 160,821 114,031

Closing balance 332,350 175,977
*Amount includes income on TREPS investment
Încluding amount of Rs. 1,12,08,926.97 pertaining to 50% of the IEP accrual of March-20 which was transferred to AMFI on 08th April
2020 and excluding amount of Rs. 16,796,059.60/- pertaining to 50% of the IEP accrual of March-21 which was transferred to AMFI on 08th April 2021.
19. Pursuant to SEBI Circular SEBI/HO/IMD/DF3/CIR/P/2020/194 dated October 05, 2020, with effect from April 01, 2021, names of existing dividend plans /
options of schemes have been renamed as IDCW (Income Distribution cum Capital Withdrawal) Plan / Option.
"Dividend" has been replaced with "Distribution (of Income and Capital)" w.e.f. April 01, 2021.
20. PRIOR PERIOD COMPARATIVES

Prior year figures have been reclassified and regrouped, wherever applicable, to conform to current year's presentation.
21. Details of investment portfolio of the schemes as at March 31, 2021 are disclosed as attachments.



Sachin Jain

135
B S R & Co. LLP


Axis Bluechip Fund
Opinion
We have audited the financial statements of Axis Bluechip Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
136

Axis Mutual Fund – Axis Bluechip Fund
related safeguards.

137

Axis Mutual Fund – Axis Bluechip Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACG1323
138
B S R & Co. LLP


Axis Long Term Equity Fund
Opinion
We have audited the financial statements of Axis Long Term Equity Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
139

Axis Mutual Fund – Axis Long Term Equity Fund
related safeguards.

140

Axis Mutual Fund – Axis Long Term Equity Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACI1926
141
B S R & Co. LLP


Axis Midcap Fund
Opinion
We have audited the financial statements of Axis Midcap Fund (the ‘Scheme’) of Axis Mutual Fund,
Basis for Opinion

opinion.
Statements
Registered Office
142

Axis Mutual Fund – Axis Midcap Fund
related safeguards.

143

Axis Mutual Fund – Axis Midcap Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAACL7142
144
B S R & Co. LLP


Axis Focused 25 Fund
Opinion
We have audited the financial statements of Axis Focused 25 Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office
145

Axis Mutual Fund – Axis Focused 25 Fund
related safeguards.

146

Axis Mutual Fund – Axis Focused 25 Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACM6053
147
B S R & Co. LLP


Axis Arbitrage Fund
Opinion
We have audited the financial statements of Axis Arbitrage Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
148

Axis Mutual Fund – Axis Arbitrage Fund
related safeguards.

149

Axis Mutual Fund – Axis Arbitrage Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACN2565
150
B S R & Co. LLP


Axis Dynamic Equity Fund
Opinion
We have audited the financial statements of Axis Dynamic Equity Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
151

Axis Mutual Fund – Axis Dynamic Equity Fund
related safeguards.

152

Axis Mutual Fund – Axis Dynamic Equity Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACS4454
153
B S R & Co. LLP


Axis Flexicap Fund (Formerly Axis Multicap Fund)
Opinion
We have audited the financial statements of Axis Flexicap Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
154

Axis Mutual Fund – Axis Flexicap Fund
related safeguards.

155

Axis Mutual Fund – Axis Flexicap Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACT9082
156
B S R & Co. LLP


Axis Equity Saver Fund
Opinion
We have audited the financial statements of Axis Equity Saver Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
157

Axis Mutual Fund – Axis Equity Saver Fund
related safeguards.

158

Axis Mutual Fund – Axis Equity Saver Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACO6336
159
B S R & Co. LLP


Axis Small Cap Fund
Opinion
We have audited the financial statements of Axis Small Cap Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
160

Axis Mutual Fund – Axis Small Cap Fund
related safeguards.

161

Axis Mutual Fund – Axis Small Cap Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACQ9968
162
B S R & Co. LLP


Axis Children’s Gift Fund
Opinion
We have audited the financial statements of Axis Children’s Gift Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office
163

Axis Mutual Fund – Axis Children’s Gift Fund
related safeguards.

164

Axis Mutual Fund – Axis Children’s Gift Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACP4420
165
B S R & Co. LLP


Axis Triple Advantage Fund
Opinion
We have audited the financial statements of Axis Triple Advantage Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
166

Axis Mutual Fund – Axis Triple Advantage Fund
related safeguards.

167

Axis Mutual Fund – Axis Triple Advantage Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACJ5609
168
B S R & Co. LLP


Axis NIFTY ETF
Opinion
We have audited the financial statements of Axis NIFTY ETF (the ‘Scheme’) of Axis Mutual Fund,
Basis for Opinion

opinion.
Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in
our audit of the financial statements of the current period. These matters were addressed in the
context of our audit of the financial statements as a whole, and in forming our opinion thereon, and
we do not provide a separate opinion on these matters.
Registered Office:
169

Axis Mutual Fund – Axis NIFTY ETF
Key Audit Matters (continued)
Description of Key Audit Matter:
Key audit matter How the matter was addressed in our audit
Fair valuation of debt securities
Refer Note 2(c) to the financial statements
Fair valuation of debt securities is a Our audit procedures included the following:
subjective area with judgment applied in
We tested investment valuation policy
determining fair value.
approved by the Trustee for its compliance
with the Securities and Exchange Board of
Fair valuation of debt securities requires
India (Mutual Funds) Regulations, 1996, as
application of valuation principles
amended (the ‘SEBI Regulations’).
prescribed by the SEBI Regulations.
We understood, evaluated and tested the
We have identified fair valuation of debt
design and operating effectiveness of
securities as a key audit matter because of
controls around the fair valuation of debt
inherent subjectivity of estimates and
securities.
judgement and its significance to the
financial statements.
We checked that the prices used by the
Scheme to fair value the debt securities were
in accordance with the investment valuation
policy.
We evaluated judgements and estimates

used while determining the fair valuation of
debt securities comprising of assumptions
and relevance of data sources.
Other Information
The management of Axis Asset Management Company Limited is responsible for the other
information. The other information comprises the information included in the Annual Report but
does not include the financial statements and our auditor’s report thereon.
Our opinion on the financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with
the financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to report
in this regard.
170

Statements
the SEBI Regulations and the accounting principles generally accepted in India. This responsibility
includes design, implementation and maintenance of internal control relevant to the preparation and

171

Auditor’s Responsibilities for the Audit of the Financial Statements (continued)
related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACR6311
172
B S R & Co. LLP


Axis Equity Hybrid Fund
Opinion
We have audited the financial statements of Axis Equity Hybrid Fund (the ‘Scheme’) of Axis Mutual
Basis for Opinion

opinion.
Statements
Registered Office:
173

Axis Mutual Fund – Axis Equity Hybrid Fund
related safeguards.

174

Axis Mutual Fund – Axis Equity Hybrid Fund
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACU3572
175
B S R & Co. LLP


Axis Growth Opportunities Fund
Opinion
We have audited the financial statements of Axis Growth Opportunities Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
176

Axis Mutual Fund – Axis Growth Opportunities Fund
related safeguards.

177

Axis Mutual Fund – Axis Growth Opportunities Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACV9586
178
B S R & Co. LLP


Axis NIFTY 100 Index Fund
Opinion
We have audited the financial statements of Axis NIFTY 100 Index Fund (the ‘Scheme’) of Axis
Basis for Opinion

opinion.
Statements
Registered Office:
179

Axis Mutual Fund – Axis NIFTY 100 Index Fund
related safeguards.

180

Axis Mutual Fund – Axis NIFTY 100 Index Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACW5142
181
B S R & Co. LLP


Axis Retirement Savings Fund – Aggressive Plan
Opinion
We have audited the financial statements of Axis Retirement Savings Fund – Aggressive Plan (the
‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 31 March 2021 and the
revenue account for the year then ended, and notes to the financial statements, including a summary
of the significant accounting policies.
Basis for Opinion

opinion.
Statements
Registered Office:
182

Axis Mutual Fund – Axis Retirement Savings Fund – Aggressive
Plan
related safeguards.

183

Axis Mutual Fund – Axis Retirement Savings Fund – Aggressive
Plan
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACX3382
184
B S R & Co. LLP


Axis Retirement Savings Fund – Conservative Plan
Opinion
We have audited the financial statements of Axis Retirement Savings Fund – Conservative Plan (the
Basis for Opinion

opinion.
Statements
Registered Office:
185

Axis Mutual Fund – Axis Retirement Savings Fund – Conservative
Plan
related safeguards.

186

Axis Mutual Fund – Axis Retirement Savings Fund – Conservative
Plan
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACY2262
187
B S R & Co. LLP


Axis Retirement Savings Fund – Dynamic Plan
Opinion
We have audited the financial statements of Axis Retirement Savings Fund – Dynamic Plan (the
Basis for Opinion

opinion.
Statements
Registered Office:
188

Axis Mutual Fund – Axis Retirement Savings Fund – Dynamic Plan
related safeguards.

189

Axis Mutual Fund – Axis Retirement Savings Fund – Dynamic Plan
reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAACZ1285
190
B S R & Co. LLP


Axis ESG Equity Fund
Opinion
We have audited the financial statements of Axis ESG Equity Fund (the ‘Scheme’) of Axis Mutual
Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account for the year
then ended, and notes to the financial statements, including a summary of the significant accounting
policies.
Basis for Opinion

opinion.
Statements
Registered Office:
191

Axis Mutual Fund – Axis ESG Equity Fund
related safeguards.

192

Axis Mutual Fund – Axis ESG Equity Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADA3966
193
B S R & Co. LLP


Axis Global Equity Alpha Fund of Fund
Opinion
We have audited the financial statements of Axis Global Equity Alpha Fund of Fund (the ‘Scheme’)
of Axis Mutual Fund, which comprise the balance sheet as at 31 March 2021 and the revenue account
for the period from 24 September 2020 to 31 March 2021 (the ‘Period’) and notes to the financial
statements, including a summary of the significant accounting policies.
the Period ended on that date.
Basis for Opinion

opinion.
Statements
Registered Office:
194

Axis Mutual Fund – Axis Global Equity Alpha Fund of Fund
related safeguards.

195

Axis Mutual Fund – Axis Global Equity Alpha Fund of Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADB5875
196
B S R & Co. LLP


Axis Banking ETF
Opinion
We have audited the financial statements of Axis Banking ETF (the ‘Scheme’) of Axis Mutual Fund,
statement for the period from 3 November 2020 to 31 March 2021 (the ‘Period’), and notes to the
financial statements, including a summary of the significant accounting policies.
cash flows for the Period ended on that date.
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
197

Axis Mutual Fund – Axis Banking ETF
determining fair value. We tested investment valuation policy
Fair valuation of debt securities requires with the Securities and Exchange Board of
application of valuation principles India (Mutual Funds) Regulations, 1996, as
prescribed by the SEBI Regulations. amended (the ‘SEBI Regulations’).
We have identified fair valuation of debt We understood, evaluated and tested the
securities as a key audit matter because of design and operating effectiveness of
inherent subjectivity of estimates and controls around the fair valuation of debt
judgement and its significance to the securities.
policy.

Other Information
in this regard.
198

Statements
of the SEBI Regulations and the accounting principles generally accepted in India. This responsibility

199

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADC2735
200
B S R & Co. LLP


Axis Special Situations Fund
Opinion
We have audited the financial statements of Axis Special Situations Fund (the ‘Scheme’) of Axis
the period from 24 December 2020 to 31 March 2021 (the ‘Period’), and notes to the financial
Basis for Opinion

opinion.
Statements
Registered Office
201

Axis Mutual Fund – Axis Special Situations Fund
related safeguards.

202

Axis Mutual Fund – Axis Special Situations Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADD7414
203
B S R & Co. LLP


Axis Greater China Equity Fund of Fund
Opinion
We have audited the financial statements of Axis Greater China Equity Fund of Fund (the ‘Scheme’)
for the period from 10 February 2021 to 31 March 2021 (the ’Period’), and notes to the financial
generally accepted in India, of the state of affairs of the Scheme as at 31 March 2021, its deficit for
Basis for Opinion

opinion.
Statements
Registered Office:
204

Axis Mutual Fund – Greater China Equity Fund of Fund
related safeguards.

205

Axis Mutual Fund – Greater China Equity Fund of Fund
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADE5931
206
B S R & Co. LLP


Axis Technology ETF
Opinion
We have audited the financial statements of Axis Technology ETF (the ‘Scheme’) of Axis Mutual
statement for the period from 25 March 2021 to 31 March 2021 (the ‘Period’), and notes to the
financial statements, including a summary of the significant accounting policies.
cash flows for the Period ended on that date.
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
207

Axis Mutual Fund – Axis Technology ETF
policy.

Other Information
in this regard.
208

Statements

209

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADF4134
210

AXIS BLUECHIP AXIS BLUECHIP Axis Long Term Axis Long Term
Axis Midcap Fund Axis Midcap Fund
FUND FUND Equity Fund Equity Fund
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 63,417,390 43,316,173 49,216,397 49,375,049 18,810,664 13,599,072
Current liabilities and provisions 5 1,400,592 2,061,319 1,324,204 601,464 433,681 429,436
247,876,722 112,458,948 280,921,328 175,881,722 104,959,622 44,782,817
Investments 2(c), 6 & 22 231,041,572 86,699,079 273,250,005 166,311,311 97,936,105 36,935,724

Deposits 7 2,127,300 2,121,700 - - - 739,900
247,876,722 112,458,948 280,921,328 175,881,722 104,959,622 44,782,817
Significant accounting policies 1 to 22

and notes to accounts
this balance sheet.
Milind Ranade
Partner Bapi Munshi G. Gopalakrishna Chandresh Kumar Nigam V. Anantharaman
Membership No: 100564 Director Director Managing Director & CEO Director
Place: Mumbai Jinesh Gopani Shreyash Devalkar Viresh Joshi Hitesh Das
Date: May 25, 2021 Head-Equity & Fund Manager-Equity Fund Manager-Equity Fund Manager
Fund Manager Foreign Securities
Ashish Naik Anupam Tiwari Deepak Agarwal

Fund Manager-Equity Fund Manager-Equity Fund Manager-Equity
R. Sivakumar Devang Shah Kaustubh Sule

Head-Fixed Income & Co-Head-Fixed Income Fund Manager-Fixed Income
Fund Manager & Fund Manager
211

Axis Focused 25 Axis Focused 25 Axis Dynamic Axis Dynamic

Axis Arbitrage Fund Axis Arbitrage Fund
Fund Fund Equity Fund Equity Fund
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 39,650,242 35,274,947 20,391,740 17,036,838 10,529,587 14,938,811
Reserves and surplus 2(b) & 4 110,580,943 46,684,411 10,280,562 6,072,784 2,833,206 373,065
Current liabilities and provisions 5 802,665 1,558,576 683,823 4,918,086 108,632 1,071,946
151,033,850 83,517,934 31,356,125 28,027,708 13,471,425 16,383,822
Investments 2(c), 6 & 22 143,527,447 75,157,311 22,050,553 18,344,480 11,171,793 14,188,643

Deposits 7 3,015,100 315,000 6,186,000 5,347,300 740,500 540,100
151,033,850 83,517,934 31,356,125 28,027,708 13,471,425 16,383,822

this balance sheet.
Milind Ranade


212

AXIS SMALL CAP AXIS SMALL CAP

Axis Flexicap Fund Axis Flexicap Fund Axis Equity Saver Fund Axis Equity Saver Fund
FUND FUND
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 49,164,590 48,790,360 4,864,105 5,847,743 10,025,036 7,692,830
Reserves and surplus 2(b) & 4 27,178,003 1,803,691 2,395,387 949,270 34,930,323 11,137,133
Current liabilities and provisions 5 493,615 1,083,032 44,874 718,712 272,832 171,544
76,836,208 51,677,083 7,304,366 7,515,725 45,228,191 19,001,507
Investments 2(c), 6 & 22 72,905,326 40,887,028 6,025,457 6,118,732 41,194,159 16,977,850

Deposits 7 742,500 1,104,600 570,100 712,100 98,200 102,500
Other current assets 8 3,188,382 9,685,455 708,809 684,893 3,935,832 1,921,157
76,836,208 51,677,083 7,304,366 7,515,725 45,228,191 19,001,507

this balance sheet.
Milind Ranade


213

AXIS AXIS
AXIS TRIPLE AXIS TRIPLE AXIS NIFTY AXIS NIFTY
CHILDREN'S GIFT CHILDREN'S GIFT
ADVANTAGE FUND ADVANTAGE FUND ETF ETF
FUND FUND
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 3,372,557 3,271,836 3,724,614 1,509,926 23,220 6,220
Reserves and surplus 2(b) & 4 2,379,205 515,353 5,610,379 1,069,523 331,630 49,046
Current liabilities and provisions 5 42,385 23,927 141,043 34,409 1,582 34
5,794,147 3,811,116 9,476,036 2,613,858 356,432 55,300
Investments 2(c), 6 & 22 5,622,987 3,457,011 8,492,061 2,355,897 353,744 54,755

Deposits 7 24,550 - 61,375 - - -
Other current assets 8 146,610 354,105 922,600 257,961 2,688 545
5,794,147 3,811,116 9,476,036 2,613,858 356,432 55,300

this balance sheet.
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214

AXIS GROWTH AXIS GROWTH

AXIS EQUITY AXIS EQUITY AXIS NIFTY 100 AXIS NIFTY 100
OPPORTUNITIE OPPORTUNITIE
HYBRID FUND HYBRID FUND INDEX FUND INDEX FUND
S FUND S FUND
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 12,207,240 14,889,747 16,700,515 9,602,453 3,185,838 3,581,602
Reserves and surplus 2(b) & 4 3,688,075 (1,524,189) 10,002,253 (527,654) 813,361 (908,426)
15,987,421 13,499,384 26,933,891 9,292,526 4,102,216 2,688,351
Investments 2(c), 6 & 22 15,072,788 12,783,862 25,789,803 8,336,278 3,988,667 2,595,055

Deposits 7 85,925 - - - - -
Other current assets 8 828,708 715,522 1,144,088 956,248 113,549 93,296
15,987,421 13,499,384 26,933,891 9,292,526 4,102,216 2,688,351

this balance sheet.
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215

AXIS RETIREMENT AXIS RETIREMENT AXIS RETIREMENT AXIS RETIREMENT AXIS RETIREMENT AXIS RETIREMENT
SAVINGS FUND - SAVINGS FUND - SAVINGS FUND - SAVINGS FUND - SAVINGS FUND - SAVINGS FUND -
AGGRESSIVE PLAN AGGRESSIVE PLAN CONSERVATIVE PLAN CONSERVATIVE PLAN DYNAMIC PLAN DYNAMIC PLAN
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 4,741,123 4,716,360 894,318 1,056,034 2,130,627 2,504,535
Reserves and surplus 2(b) & 4 937,626 (727,923) 135,491 (47,434) 438,801 (233,778)
5,696,195 4,054,792 1,034,272 1,112,192 2,579,290 2,347,973
Investments 2(c), 6 & 22 5,457,649 3,767,794 846,072 868,732 2,321,329 1,769,952

Deposits 7 - - - - - 154,100
Other current assets 8 238,546 286,998 188,200 243,460 257,961 423,921
5,696,195 4,054,792 1,034,272 1,112,192 2,579,290 2,347,973

this balance sheet.
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216

Axis Global Axis Special Axis Greater AXIS

AXIS ESG AXIS ESG Axis Banking
Equity Alpha Situations China Equity Technology
EQUITY FUND EQUITY FUND ETF
Fund of Fund Fund Fund of Fund ETF
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 14,008,218 17,222,769 11,949,503 131,828 22,141,703 486,694 181,569
Reserves and surplus 2(b) & 4 5,024,684 (1,683,180) 1,886,340 307,039 735,273 (44,984) 287,737
Current liabilities and provisions 5 136,997 54,143 66,960 3,663 172,522 3,297 34,783
19,169,899 15,593,732 13,902,803 442,530 23,049,498 445,007 504,089
Investments 2(c), 6 & 22 18,569,483 13,883,043 13,700,141 418,624 21,184,901 424,015 454,225
Deposits 7 - - - - - - -
Other current assets 8 600,416 1,710,689 202,662 23,906 1,864,597 20,992 49,864
19,169,899 15,593,732 13,902,803 442,530 23,049,498 445,007 504,089

this balance sheet.
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217
Revenue Account
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 851,376 579,557 1,062,082 2,432,583 387,660 232,311

Interest 2(d) & 9 396,320 693,902 156,089 388,819 186,231 278,704
Profit on sale/redemption of investments (including
derivatives), net 2(d) 2,085,559 - 18,144,035 16,230,307 131,422 956,638
Profit on inter-scheme transfer/sale of investments, net 2(d) - - - - - -

Load income 204,072 69,401 - - 70,958 32,078
Foreign exchange gain 2(c) - - - - - -
Other income 149 8 236 27 54 -
investments 2(c) & 6(ii) 68,856,414 (13,915,162) 87,777,525 (39,563,702) 35,732,335 (7,679,449)
Total 72,393,890 (12,572,294) 107,139,967 (20,511,966) 36,508,660 (6,179,718)
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including

derivatives), net 2(d) - 461,882 - - - -
Loss on inter-scheme transfer/sale of investments, net 2(d) - - - - - -
Foreign exchange loss 2(c) - - - - - -
Management fee 10 605,243 358,964 1,410,521 1,314,374 258,068 154,416
Trusteeship fee 10 737 386 936 983 288 161
Custodian service charges 7,556 4,150 9,701 10,433 2,951 1,746
Commission to distributors 1,529,498 757,060 1,619,063 1,459,372 667,362 351,142
Audit fee 696 678 807 849 370 323
Marketing expenses 46,760 5,895 21,563 20,492 15,738 2,562
Listing fee - - - - - -
Total 2,499,626 1,763,920 3,538,003 3,266,040 1,066,882 583,794
Surplus /(Deficit) for the year 69,894,264 (14,336,214) 103,601,964 (23,778,006) 35,441,778 (6,763,512)
Transfer from / (to) unrealised appreciation reserve (61,348,943) 6,407,691 (72,227,247) 24,013,424 (31,034,768) 2,981,882
Equalisation (debit) / credit 2(e) 14,024,054 18,905,325 (2,307,731) 1,322,752 3,284,942 5,707,176
Transfer from retained surplus 150,957 419,140 - 177,596 145,004 166,280
Dividend distribution (393,730) (458,168) (1,531,879) (1,535,771) (145,006) (147,226)
Dividend distribution tax on dividend distribution 4 (59,297) (4) (198,716) 2 (19,054)
Net Surplus /(Deficit) transferred to the retained surplus 4 22,326,606 10,878,477 27,535,103 1,279 7,691,952 1,925,546
Significant accounting policies and notes to accounts 1 to 22

The accompanying schedules are an integral part of this
revenue account.
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218
Revenue Account
Axis Focused 25 Axis Focused 25 Axis Arbitrage Axis Arbitrage Axis Dynamic Axis Dynamic
Fund Fund Fund Fund Equity Fund Equity Fund
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 377,692 742,818 208,826 147,259 75,717 146,663

Interest 2(d) & 9 181,447 236,948 491,689 642,312 283,030 439,392
derivatives), net 2(d) 9,195,312 8,923,203 - 5,503,332 1,268,292 970,832
Profit on inter-scheme transfer/sale of investments, net 2(d) - - - - 9,409 -

Load income 103,769 61,298 90 511 4,456 12,675
Other income 5,692 13 37 153 16 61
investments 2(c) & 6(ii) 46,500,019 (22,438,098) 5,440,692 (4,520,112) 1,860,281 (1,969,288)
Total 56,363,931 (12,473,818) 6,141,334 1,773,455 3,501,201 (399,665)
EXPENSES AND LOSSES

derivatives), net 2(d) - - 5,005,415 - - -
Loss on inter-scheme transfer/sale of investments, net 2(d) - - 628 10,066 - 8,454
Management fee 10 547,352 415,011 53,133 39,556 94,070 102,195
Trusteeship fee 10 488 408 113 124 58 103
Custodian service charges 5,047 4,348 1,213 1,339 636 1,118
Commission to distributors 1,060,434 845,605 65,476 66,385 176,756 262,794
Audit fee 694 673 363 323 361 325
Marketing expenses 26,123 18,960 - 1,593 1,832 1,883
Total 1,860,349 1,463,791 5,170,633 157,973 304,653 416,368
Surplus /(Deficit) for the year 54,503,582 (13,937,609) 970,701 1,615,482 3,196,548 (816,033)
Transfer from / (to) unrealised appreciation reserve (29,869,904) 5,807,983 (1,518,940) 598,360 (1,195,024) 1,304,030
Equalisation (debit) / credit 2(e) (1,507,199) (1,910,749) 3,151,566 1,851,385 (488,882) (320,084)
Transfer from retained surplus - 1,248 42,031 - 46,973 47,689
Dividend distribution tax on dividend distribution 3 (39,450) 29 (86,478) - (5,464)
Net Surplus /(Deficit) transferred to the retained surplus 4 22,890,145 (10,383,386) 2,603,327 3,310,560 1,506,044 167,913

revenue account.
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219
Revenue Account
Axis Equity Saver Axis Equity Saver AXIS SMALL CAP AXIS SMALL CAP
Axis Flexicap Fund Axis Flexicap Fund
Fund Fund FUND FUND
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 301,222 331,424 33,318 58,814 143,702 122,405

Interest 2(d) & 9 143,324 408,177 139,593 197,424 71,624 86,916
derivatives), net 2(d) 5,126,140 4,720,439 - 1,056,904 589,175 472,960
Profit on inter-scheme transfer/sale of investments, net 2(d) - - 6,758 - - -

Load income 48,238 33,927 3,258 3,862 41,129 23,737
Other income 51 28 6 1 616 -
investments 2(c) & 6(ii) 21,780,232 (10,846,854) 1,844,971 (1,577,246) 17,027,135 (5,731,580)
Total 27,399,207 (5,352,859) 2,027,904 (260,241) 17,873,381 (5,025,562)
EXPENSES AND LOSSES

derivatives), net 2(d) - - 215,970 - - -
Loss on inter-scheme transfer/sale of investments, net 2(d) 2,785 - - 3,246 - -
Management fee 10 265,934 166,351 56,009 70,313 73,975 36,895
Trusteeship fee 10 265 218 28 38 123 51
Custodian service charges 2,775 2,345 315 426 1,268 568
Audit fee 375 328 388 387 361 315
Marketing expenses 14,881 3,368 3,594 524 5,496 2,229
Total 1,150,761 843,324 376,423 184,045 424,277 194,213
Surplus /(Deficit) for the year 26,248,446 (6,196,183) 1,651,481 (444,286) 17,449,104 (5,219,775)
Transfer from / (to) unrealised appreciation reserve (14,660,583) 3,727,205 (743,580) 475,854 (11,662,758) 367,202
Equalisation (debit) / credit 2(e) (287,464) (205,982) (134,845) (292) 2,948,839 9,420,661
Transfer from retained surplus 15,237 40,018 201 23,412 63,008 126,483
Dividend distribution tax on dividend distribution - (24,735) - (8,903) (1) (15,847)
Net Surplus /(Deficit) transferred to the retained surplus 4 11,165,337 (2,850,800) 760,167 (23,007) 8,733,420 4,556,286

revenue account.
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220
Revenue Account
AXIS CHILDREN'S AXIS CHILDREN'S AXIS TRIPLE AXIS TRIPLE

AXIS NIFTY ETF AXIS NIFTY ETF
GIFT FUND GIFT FUND ADVANTAGE FUND ADVANTAGE FUND
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 19,821 31,785 17,409 19,922 2,684 1,017

Interest 2(d) & 9 88,627 100,864 56,303 34,027 38 16
derivatives), net 2(d) 107,071 251,161 117,066 402,754 6,390 1,049
Profit on inter-scheme transfer/sale of investments, net 2(d) - - - - - -

Load income 67 258 8,100 1,052 - -
Other income 4 - 4 1 - -
investments 2(c) & 6(ii) 1,723,908 (754,370) 1,586,374 (645,875) 95,501 (20,641)
Total 1,939,498 (370,302) 1,785,256 (188,119) 104,613 (18,559)
EXPENSES AND LOSSES

derivatives), net 2(d) - - - - - -
Loss on inter-scheme transfer/sale of investments, net 2(d) 197 327 67 - - -
Management fee 10 60,090 48,805 42,385 34,416 89 #
GST on management fees 10,816 8,786 7,630 6,194 16 #
Trusteeship fee 10 20 21 22 14 1 -
Investor education expense 974 866 1,046 556 44 14
Registrar service charges 2,736 2,632 1,979 1,247 52 17
Commission to distributors 43,528 38,330 60,750 19,097 - -
Audit fee 315 315 401 432 4 3
Marketing expenses - 266 - 409 - -
Listing fee - - - - 42 -
Other operating expenses 373 802 520 1,008 14 15
Total 119,271 101,390 115,032 63,532 271 54
Surplus /(Deficit) for the year 1,820,227 (471,692) 1,670,224 (251,651) 104,342 (18,613)
Transfer from / (to) unrealised appreciation reserve (1,434,381) 464,844 (1,304,508) 364,009 (87,885) 13,024
Equalisation (debit) / credit 2(e) 15,916 24,143 2,358,625 36,576 167,148 114
Transfer from retained surplus - - 37,801 12,624 - -
Dividend distribution - - (37,801) (11,178) - -
Dividend distribution tax on dividend distribution - - - (1,446) - -
Net Surplus /(Deficit) transferred to the retained surplus 4 401,762 17,295 2,724,341 148,934 183,605 (5,475)

revenue account.
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221
Revenue Account

AXIS EQUITY AXIS EQUITY AXIS NIFTY 100 AXIS NIFTY 100
OPPORTUNITIES OPPORTUNITIES
HYBRID FUND HYBRID FUND INDEX FUND INDEX FUND
FUND FUND
April 01, 2020 April 01, 2019 April 01, 2020 April 01, 2019 April 01, 2020 October 18, 2019
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 74,745 142,856 89,306 108,534 44,314 16,716

Interest 2(d) & 9 311,511 431,340 20,622 19,004 1,336 5,252
derivatives), net 2(d) 1,324,686 1,538,804 1,046,310 171,633 85,708 31,025
Profit on inter-scheme transfer/sale of investments, net 2(d) 5,695 4,291 - - - -

Load income 6,977 18,692 21,061 10,724 325 94
Foreign exchange gain 2(c) - - 24,308 31,631 - -
Other income 6 6,301 6 1 275 -
investments 2(c) & 6(ii) 4,417,920 (3,057,384) 7,070,658 (1,529,841) 1,673,098 (835,548)
Total 6,141,540 (915,100) 8,272,271 (1,188,314) 1,805,056 (782,461)
EXPENSES AND LOSSES

derivatives), net 2(d) - - - - - -
Management fee 10 90,766 95,673 70,641 46,707 3,165 1,228
GST on management fees 16,338 17,222 12,716 8,408 570 222
Investor education expense 3,138 3,788 3,234 1,690 704 332
Custodian service charges 678 1,002 1,159 935 192 88
Registrar service charges 8,268 10,656 9,257 5,050 1,876 915
Audit fee 324 323 139 129 14 24
Marketing expenses 2,006 1,265 2,362 794 - 152
Other operating expenses 947 1,592 2,461 1,497 1,027 366
Total 328,107 385,644 328,809 193,132 28,401 15,948
Surplus /(Deficit) for the year 5,813,433 (1,300,744) 7,943,462 (1,381,446) 1,776,655 (798,409)
Transfer from / (to) unrealised appreciation reserve (1,821,415) 460,879 (5,908,986) 368,169 (837,550) -
Equalisation (debit) / credit 2(e) (277,052) (55,439) (31,749) (4,499) (91,642) (82,120)
Transfer from retained surplus - - - - - -
Dividend distribution (24,287) (1,713) (26,987) - - -
Dividend distribution tax on dividend distribution - (222) - - - -
Net Surplus /(Deficit) transferred to the retained surplus 4 3,690,679 (897,239) 1,975,740 (1,017,776) 847,463 (880,529)

revenue account.
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222
Revenue Account
AXIS AXIS AXIS AXIS AXIS AXIS

RETIREMENT RETIREMENT RETIREMENT RETIREMENT RETIREMENT RETIREMENT
SAVINGS FUND - SAVINGS FUND - SAVINGS FUND - SAVINGS FUND - SAVINGS FUND - SAVINGS FUND -
AGGRESSIVE AGGRESSIVE CONSERVATIVE CONSERVATIVE DYNAMIC DYNAMIC
PLAN PLAN PLAN PLAN PLAN PLAN
April 01, 2020 December 20, 2019 April 01, 2020 December 20, 2019 April 01, 2020 December 20, 2019
to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 13,468 14,103 2,583 1,776 9,069 5,431

Interest 2(d) & 9 95,104 33,079 46,088 16,420 41,274 23,367
derivatives), net 2(d) 21,868 - 59,805 - - 89,028
Profit on inter-scheme transfer/sale of investments, net 2(d) - - 2,123 1,940 - -

Load income - - - - - -
Other income 2 - - - 1 59
investments 2(c) & 6(ii) 1,653,029 (736,605) 103,746 (57,442) 762,350 (332,193)
Total 1,783,471 (689,423) 214,345 (37,306) 812,694 (214,308)
EXPENSES AND LOSSES

derivatives), net 2(d) - 2,344 - 617 57,188 -
Management fee 10 25,725 4,581 4,844 1,125 13,691 2,376
GST on management fees 4,630 824 872 202 2,464 428
Investor education expense 974 260 206 64 488 148
Registrar service charges 2,628 730 385 126 1,277 404
Audit fee 243 227 241 225 250 224
Marketing expenses 944 259 - 7 - 198
Total 112,381 32,913 20,948 7,447 113,639 17,360
Surplus /(Deficit) for the year 1,671,090 (722,336) 193,397 (44,753) 699,055 (231,668)
Transfer from / (to) unrealised appreciation reserve (916,424) - (46,304) - (430,157) -
Equalisation (debit) / credit 2(e) (12,762) (3,023) (7,647) (725) (2,262) 1,680
Dividend distribution - - - - - -
Dividend distribution tax on dividend distribution - - - - - -
Net Surplus /(Deficit) transferred to the retained surplus 4 741,904 (725,359) 139,446 (45,478) 266,636 (229,988)

revenue account.
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223
Revenue Account
Axis Greater China

AXIS ESG EQUITY AXIS ESG EQUITY Axis Global Equity Axis Special AXIS Technology
Axis Banking ETF Equity Fund of
FUND FUND Alpha Fund of Fund Situations Fund ETF
Fund
April 01, 2020 February 12, 2020 September 24, 2020 November 03, 2020 December 24, 2020 February 10, 2021 March 25, 2021
to to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 112,005 17,468 - - 8,158 - -

Interest 2(d) & 9 15,143 72,023 30,337 380 58,121 617 121
derivatives), net 2(d) 1,554,513 - - 88,853 15,509 - -
Profit on inter-scheme transfer/sale of investments, net 2(d) - - - - - - -

Load income 52,764 4,079 16,811 - 12,694 48 -
Foreign exchange gain 2(c) 31,959 - - - - 958 -
Other income 10,111 - 1 - - - -
investments 2(c) & 6(ii) 5,877,190 (1,749,771) 1,971,269 88,839 766,012 (32,465) 5,299
Total 7,653,685 (1,656,201) 2,018,418 178,072 860,494 (30,842) 5,420
EXPENSES AND LOSSES

derivatives), net 2(d) - - - - - - 3,646
Loss on inter-scheme transfer/sale of investments, net 2(d) - - - - - - -
Foreign exchange loss 2(c) - 8,267 6,405 - 6,088 - -
Management fee 10 49,578 5,358 18,348 198 17,141 70 10
GST on management fees 8,924 964 3,302 36 3,086 12 2
Trusteeship fee 10 72 11 30 1 34 # #
Investor education expense 3,582 444 1,344 46 1,226 10 2
Custodian service charges 1,420 214 383 8 373 45 #
Registrar service charges 9,457 1,158 3,501 55 3,085 24 2
Commission to distributors 280,160 35,919 77,031 - 95,773 332 -
Audit fee 309 305 71 3 57 5 3
Marketing expenses 5,819 463 - - - - -
Listing fee - - - - - - -
Other operating expenses 969 152 787 19 362 19 -
Total 360,290 53,255 111,202 366 127,225 517 3,665
Surplus /(Deficit) for the year 7,293,395 (1,709,456) 1,907,216 177,706 733,269 (31,359) 1,755
Transfer from / (to) unrealised appreciation reserve (4,127,419) - (1,971,269) (88,839) (766,012) - (5,299)
Equalisation (debit) / credit 2(e) (88,993) 24,678 (3,866) 182,326 (1,106) (13,603) 285,982
Transfer from retained surplus - - - - - - -
Dividend distribution - - - - - - -
Dividend distribution tax on dividend distribution - - - - - - -
Net Surplus /(Deficit) transferred to the retained surplus 4 3,076,983 (1,684,778) (67,919) 271,193 (33,849) (44,962) 282,438

revenue account.
Milind Ranade


224
Cash Flow Statement

AXIS BLUECHIP AXIS BLUECHIP Axis Long Term Equity Axis Long Term Equity
Particulars
FUND FUND Fund Fund
to to to to
Surplus /(Deficit) for the year 69,894,264 (14,336,214) 103,601,964 (23,778,006)
Net change in marked to market gain / loss in value of investments (68,856,414) 13,915,162 (87,777,525) 39,563,702
Operating Surplus / (Deficit) before working capital changes 1,037,850 (421,052) 15,824,439 15,785,696
Adjustments for:-
(Increase)/Decrease in investments at cost (76,651,298) (57,409,763) (18,936,620) (27,730,654)
(Increase)/Decrease in other current assets 431,715 (958,190) 352,451 823,582
Increase/(Decrease) in current liabilities 366,370 84,136 197,858 74,929
(Increase)/Decrease in deposits (5,600) (1,721,700) - -
Net cash generated from / (used in) operating activities (A) (74,820,963) (60,426,569) (2,561,872) (11,046,447)

Increase/(Decrease) in unit capital 19,779,176 26,289,908 162,164 1,418,099
Increase/(Decrease) in unit premium reserve 46,448,751 51,577,323 2,405,437 10,205,783
Adjustments for:-
Increase/(Decrease) in redemption payable for units
redeemed by investors - - - -
Dividend Distribution paid (including tax thereon) (39,556) (448,583) (1,532,395) (1,718,295)
Net cash generated from / (used in) financing activities (B) 66,188,371 77,418,648 1,035,206 9,905,587
Net Increase/(Decrease) in cash and cash equivalents (A) + (B) (8,632,592) 16,992,079 (1,526,666) (1,140,860)
Cash and Cash Equivalents as at the beginning of the year/period 23,142,173 6,150,094 9,068,579 10,209,439
Cash and Cash Equivalents as at the end of the year/period 14,509,581 23,142,173 7,541,913 9,068,579
Balances with banks in current accounts 808,703 588,859 1,152,789 623,949

Reverse Repo and Tri-Party Repo 13,700,878 22,553,314 6,389,124 8,444,630
Total 14,509,581 23,142,173 7,541,913 9,068,579
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225
Cash Flow Statement

Particulars Axis Midcap Fund Axis Midcap Fund Axis Focused 25 Fund Axis Focused 25 Fund
to to to to
Surplus /(Deficit) for the year 35,441,778 (6,763,512) 54,503,582 (13,937,609)
Operating Surplus / (Deficit) before working capital changes (290,557) 915,937 8,003,563 8,500,489
Adjustments for:-
(Increase)/Decrease in investments at cost (25,366,602) (25,182,026) (21,775,600) (28,451,222)
(Increase)/Decrease in other current assets 150,144 (210,967) 715,309 (752,867)
Increase/(Decrease) in current liabilities 122,438 52,875 134,516 102,767
(Increase)/Decrease in deposits 739,900 (739,900) (2,700,100) 245,000
Net cash generated from / (used in) operating activities (A) (24,644,677) (25,164,081) (15,622,312) (20,355,833)

Increase/(Decrease) in unit capital 5,083,343 7,750,387 3,636,638 8,869,651
Increase/(Decrease) in unit premium reserve 19,635,819 21,811,750 9,600,442 16,185,966
Adjustments for:-
Dividend Distribution paid (including tax thereon) (103,375) (139,480) (24,346) (295,443)
Net cash generated from / (used in) financing activities (B) 24,615,787 29,422,657 13,212,734 24,760,174
Net Increase/(Decrease) in cash and cash equivalents (A) + (B) (28,890) 4,258,576 (2,409,578) 4,404,341
Cash and Cash Equivalents as at the beginning of the year/period 6,979,157 2,720,581 6,833,220 2,428,879
Cash and Cash Equivalents as at the end of the year/period 6,950,267 6,979,157 4,423,642 6,833,220

Total 6,950,267 6,979,157 4,423,642 6,833,220
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Cash Flow Statement

Axis Dynamic Equity Axis Dynamic Equity

Particulars Axis Arbitrage Fund Axis Arbitrage Fund
Fund Fund
to to to to
Surplus /(Deficit) for the year 970,701 1,615,482 3,196,548 (816,033)
Operating Surplus / (Deficit) before working capital changes (4,469,991) 6,135,594 1,336,267 1,153,255
Adjustments for:-
(Increase)/Decrease in investments at cost (1,805,413) (2,384,682) 3,928,190 4,339,575
(Increase)/Decrease in other current assets 2,120,417 (1,554,651) 633,063 (1,069,069)
Increase/(Decrease) in current liabilities (377,076) 260,897 (43,710) (5,065)
(Increase)/Decrease in deposits (838,700) (2,497,300) (200,400) 1,059,900
Net cash generated from / (used in) operating activities (A) (5,370,763) (40,142) 5,653,410 5,478,596

Increase/(Decrease) in unit capital 832,651 1,512,141 (4,419,840) (6,569,496)
Increase/(Decrease) in unit premium reserve 3,277,582 1,788,728 (683,470) (763,703)
Adjustments for:-
Net cash generated from / (used in) financing activities (B) 4,092,336 2,925,485 (5,147,826) (7,377,161)
Net Increase/(Decrease) in cash and cash equivalents (A) + (B) (1,278,427) 2,885,343 505,584 (1,898,565)
Cash and Cash Equivalents as at the beginning of the year/period 2,981,572 96,229 933,607 2,832,172
Cash and Cash Equivalents as at the end of the year/period 1,703,145 2,981,572 1,439,191 933,607

Reverse Repo and Tri-Party Repo 1,647,813 2,952,754 1,414,269 917,891
Total 1,703,145 2,981,572 1,439,191 933,607
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Cash Flow Statement

Axis Equity Axis Equity

Particulars Axis Flexicap Fund Axis Flexicap Fund
Saver Fund Saver Fund
to to to to
Surplus /(Deficit) for the year 26,248,446 (6,196,183) 1,651,481 (444,286)
Operating Surplus / (Deficit) before working capital changes 4,468,214 4,650,671 (193,490) 1,132,960
Adjustments for:-
(Increase)/Decrease in investments at cost (10,543,006) (21,434,387) 1,334,438 (301,431)
(Increase)/Decrease in other current assets 168,171 (168,805) (6,891) 54,864
Increase/(Decrease) in current liabilities 87,079 56,420 (45,306) 43,355
(Increase)/Decrease in deposits 362,100 (754,600) 142,000 (212,100)
Net cash generated from / (used in) operating activities (A) (5,457,442) (17,650,701) 1,230,751 717,648

Increase/(Decrease) in unit capital 287,179 19,771,438 (991,858) (264,682)
Increase/(Decrease) in unit premium reserve (728,353) 4,302,966 (192,671) (11,077)
Adjustments for:-
Net cash generated from / (used in) financing activities (B) (462,155) 23,886,211 (1,192,774) (346,182)
Net Increase/(Decrease) in cash and cash equivalents (A) + (B) (5,919,597) 6,235,510 37,977 371,466
Cash and Cash Equivalents as at the beginning of the year/period 9,079,157 2,843,647 611,324 239,858
Cash and Cash Equivalents as at the end of the year/period 3,159,560 9,079,157 649,301 611,324

Reverse Repo and Tri-Party Repo 3,116,324 8,981,586 641,838 608,331
Total 3,159,560 9,079,157 649,301 611,324
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Cash Flow Statement

AXIS SMALL AXIS SMALL AXIS NIFTY AXIS NIFTY

Particulars
CAP FUND CAP FUND ETF ETF
to to to to
Surplus /(Deficit) for the year 17,449,104 (5,219,775) 104,342 (18,613)
Net change in marked to market gain / loss in value of investments (17,027,135) 5,731,580 (95,501) 20,641
Operating Surplus / (Deficit) before working capital changes 421,969 511,805 8,841 2,028
Adjustments for:-
(Increase)/Decrease in investments at cost (7,178,586) (20,441,389) (204,330) (2,324)
(Increase)/Decrease in other current assets (15,390) (30,502) (156) 933
Increase/(Decrease) in current liabilities 77,500 39,283 57 (567)
(Increase)/Decrease in deposits 4,300 (102,500) - -
Net cash generated from / (used in) operating activities (A) (6,690,207) (20,023,303) (195,588) 70

Increase/(Decrease) in unit capital 2,306,727 6,594,968 16,999 -
Increase/(Decrease) in unit premium reserve 6,402,212 14,646,980 178,242 82
Adjustments for:-
redeemed by investors - 113,138 - 1
Dividend Distribution paid (including tax thereon) (7,271) (138,285) - -
Net cash generated from / (used in) financing activities (B) 8,701,668 21,216,801 195,241 83
Net Increase/(Decrease) in cash and cash equivalents (A) + (B) 2,011,461 1,193,498 (347) 153
Cash and Cash Equivalents as at the beginning of the year/period 1,883,919 690,421 537 384
Cash and Cash Equivalents as at the end of the year/period 3,895,380 1,883,919 190 537
Balances with banks in current accounts 72,079 47,726 50 29

Reverse Repo and Tri-Party Repo 3,823,301 1,836,193 140 508
Total 3,895,380 1,883,919 190 537
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Cash Flow Statement

AXIS EQUITY AXIS EQUITY Axis Banking AXIS

Particulars
HYBRID FUND HYBRID FUND ETF Technology ETF
November 03,
April 01, 2020 April 01, 2019 2020 March 25, 2021
to to to to
Surplus /(Deficit) for the year 5,813,433 (1,300,744) 177,706 1,755
Net change in marked to market gain / loss in value of investments (4,417,920) 3,057,384 (88,839) (5,299)
Operating Surplus / (Deficit) before working capital changes 1,395,513 1,756,640 88,867 (3,544)
Adjustments for:-
(Increase)/Decrease in investments at cost 2,324,501 4,995,531 (349,979) (451,734)
(Increase)/Decrease in other current assets 67,169 (232,570) (99) (2,599)
Increase/(Decrease) in current liabilities (1,086) 35,846 163 44
(Increase)/Decrease in deposits (85,925) 250,000 - -
Net cash generated from / (used in) operating activities (A) 3,700,172 6,805,447 (261,048) (457,833)

Increase/(Decrease) in unit capital (2,692,219) (7,105,007) 131,828 181,570
Increase/(Decrease) in unit premium reserve (577,231) (389,648) 129,333 285,982
Adjustments for:-
Dividend Distribution paid (including tax thereon) (8,300) (1,873) - -
Net cash generated from / (used in) financing activities (B) (3,277,750) (7,496,528) 261,161 467,552
Net Increase/(Decrease) in cash and cash equivalents (A) + (B) 422,422 (691,081) 113 9,719
Cash and Cash Equivalents as at the beginning of the year/period 293,577 984,658 - -
Cash and Cash Equivalents as at the end of the year/period 715,999 293,577 113 9,719

Reverse Repo and Tri-Party Repo 706,982 284,584 112 9,715
Total 715,999 293,577 113 9,719
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Schedules to the financial statements for the year/period ended March 31, 2021
1. (a) BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual Fund Trustee
Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25% plus one equity
share is held by Schroder's Investment Management(Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroder's Singapore Holdings Private Limited (SSHPL), both
subsidiaries of Schroders plc.
Scheme Name Type of Scheme Investment objective of the Scheme NFO Open Plans
NFO Close
Axis Bluechip Fund An open ended equity To achieve long term capital appreciation by investing in November 11, 2009 Regular Growth
scheme predominantly a diversified portfolio predominantly consisting of equity to Regular IDCW
investing in large cap stocks and equity related securities including derivatives. December 8, 2009 Direct Growth
However, there can be no assurance that the Direct IDCW
investment objective of the Scheme will be achieved.
Axis Long Term Equity Fund An open ended equity linked The investment objective of the Scheme is to generate December 17, 2009 Regular Growth
saving scheme with a income and long-term capital appreciation from a to Regular IDCW
statutory lock in of 3 years diversified portfolio of predominantly equity and equity- December 21, 2009 Direct Growth
and tax benefit. related Securities. However, there can be no assurance Direct IDCW
that the investment objective of the Scheme will be
achieved.
Axis Midcap Fund An open ended equity To achieve long term capital appreciation by investing January 31, 2011 Regular Growth
scheme predominantly predominantly in equity & equity related instruments of to Regular IDCW
investing in Mid Cap stocks Mid Cap companies. February 14, 2011 Direct Growth
Direct IDCW
Axis Focused 25 Fund An open ended equity To generate long term capital appreciation by investing June 11, 2012 Regular Growth
scheme investing in in a concentrated portfolio of equity & equity related to Regular IDCW
maximum 25 stocks instruments of up to 25 companies. June 25, 2012 Direct Growth
investing in large cap, mid Direct IDCW
cap and small cap
companies.
Axis Arbitrage Fund An open ended scheme To generate income through low volatility absolute July 25, 2014 Regular Growth
investing in arbitrage return strategies that take advantage of opportunities in to Regular IDCW
opportunities the cash and the derivative segments of the equity August 8, 2014 Direct Growth
markets including the arbitrage opportunities available Direct IDCW
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.
Axis Dynamic Equity Fund An open ended dynamic The Scheme has a dual objective of generating capital July 11, 2017 Regular Growth
asset allocation fund. appreciation by investing in equity and equity related to Regular IDCW
securities as well as generating income by investing in July 25, 2017 Direct Growth
debt and money market securities, while attempting to Direct IDCW
manage risk from the market through active asset
allocation.
Axis Flexicap Fund (formerly An open-ended equity To generate long term capital appreciation by investing October 30, 2017 Regular Growth
known as Axis Multicap Fund) ^^^ scheme in a dynamic mix of equity and equity related to Regular IDCW
instruments across market November 13, 2017 Direct Growth
capitalizations. Direct IDCW
Axis Equity Saver Fund An open ended scheme The investment objective of the scheme is to provide July 27, 2015 Regular Growth
investing in equity, arbitrage capital appreciation and income distribution to the to Regular Monthly IDCW
and debt. investors by using equity and equity related instruments, August 10, 2015 Regular Quarterly IDCW
arbitrage opportunities, and investments in debt and Regular IDCW
money market instruments. However, there is no Direct Growth
assurance or guarantee that the investment objective of Direct Monthly IDCW
the Scheme will be achieved. The Scheme does not Direct Quarterly IDCW
assure or guarantee any returns. Direct Regular IDCW
Axis Triple Advantage Fund An open ended scheme To generate long term capital appreciation by investing June 30, 2010 Regular Growth
investing in equity, debt and in a diversified portfolio of equity and equity related to Regular IDCW
gold instruments, fixed income instruments and gold July 29, 2010 Direct Growth
exchange traded funds. Direct IDCW
Axis Children'S Gift Fund An open ended fund, for To generate income by investing in debt & money November 18, 2015 Compulsory Lock-in Regular Growth
investment for children, market instruments along with long-term capital to Compulsory Lock-in Regular IDCW
having a lock-in of 5 years or appreciation through investments in equity & equity December 2, 2015 No Lock-in Regular Growth
till the child attains age of related instruments. However, No Lock-in Regular IDCW
majority there is no assurance or guarantee that the investment Compulsory Lock-in Direct Growth
(whichever is earlier). objective of the Scheme will be achieved. The Scheme Compulsory Lock-in Direct IDCW
does not assure or guarantee any returns. No Lock-in Direct Growth
No Lock-in Direct IDCW
231
NFO Close
Axis Small Cap Fund An open ended equity To generate long-term capital appreciation from a November 11, 2013 Regular Growth
scheme predominantly diversified portfolio of predominantly equity & equity to Regular IDCW
investing in small cap stocks related instruments of small cap companies. November 25, 2013 Direct Growth
Direct IDCW
Axis Nifty ETF An open ended scheme The investment objective of the Scheme is to provide June 13, 2017
replicating/tracking Nifty 50 returns before expenses that closely correspond to the to
index total returns of the Nifty 50 Index subject to tracking June 27, 2017
errors. However, there is no assurance or guarantee
that the investment objective of the Scheme will be
achieved.
Axis Equity Hybrid Fund An Open ended hybrid To generate long term capital appreciation along with July 20, 2018 Regular Growth
scheme investing current income by investing in a mix of Equity and to Regular IDCW
predominantly in equity and Equity related instruments, debt instruments and money August 03, 2018 Regular Monthly IDCW
equity related instruments, market instruments. However, there is no assurance or Regular Quarterly IDCW
guarantee that the investment objective of the Scheme Direct Growth
will be achieved. The Scheme does not assure or Direct IDCW
guarantee any returns. Direct Monthly IDCW
Axis Growth Opportunities Fund An Open-ended Equity To generate long term capital appreciation by investing October 01, 2018 Regular Growth
Scheme investing in both in a diversified portfolio of Equity & Equity Related to Regular IDCW
large and mid cap stocks. Instruments both in India as well as overseas. However, October 15, 2018 Direct Growth
there can be no assurance that the investment objective Direct IDCW
of the Scheme will be achieved.
Axis Nifty 100 Index Fund AXIS NIFTY 100 INDEX The investment objective of the Scheme is to provide September 27, 2019 Regular Growth
FUND An Open Ended Index returns before expenses that closely corresponds to the to Regular IDCW
Fund tracking the NIFTY 100 total returns of the NIFTY 100 subject to tracking errors. October 11, 2019 Direct Growth
Index However, there can be no assurance that the Direct IDCW
investment objective of the Scheme will be achieved
Axis Retirement Savings Fund - Axis Retirement Savings The investment objective of the Scheme to generate November 29, 2019 Regular Growth
Aggressive Plan Fund (An open-ended capital appreciation by predominantly investing in equity to Regular IDCW
retirement solution oriented and equity related instruments. December 13, 2019 Direct Growth
scheme having a lock-in of 5 The Investment Plan may also invest in debt and money Direct IDCW
years or till retirement age market instruments, units of Gold ETF or units of REITs
(whichever is earlier)). & InvITs for income generation / wealth creation.
Axis Retirement Savings Fund - An open-ended retirement The investment objective of the Scheme to generate November 29, 2019 Regular Growth
Conservative Plan solution oriented scheme regular income through investments predominantly in to Regular IDCW
having a lock-in of 5 years or debt and money market December 13, 2019 Direct Growth
till retirement age (whichever instruments and to generate long term capital Direct IDCW
is earlier) appreciation by investing certain portion of the portfolio
in equity and equity related securities.
The Investment Plan may also invest in units of Gold
ETF or units of REITs & InvITs for income generation /
wealth creation.
Axis Retirement Savings Fund - An open-ended retirement The Investment Plan has a dual objective of generating November 29, 2019 Regular Growth
Dynamic Plan solution oriented scheme capital appreciation by investing in equity and equity to Regular IDCW
having a lock-in of 5 years or related securities as well as generating income by December 13, 2019 Direct Growth
till retirement age (whichever investing in debt and money market securities, while Direct IDCW
is earlier) attempting to manage risk from the market through
active asset allocation. The Investment Plan may also
invest in units of Gold ETF or units of REITs & InvITs for
income generation / wealth creation.
Axis ESG Equity Fund Axis ESG Equity Fund (An The investment objective of the Scheme to generate January 22, 2020 Regular Growth
Open ended equity scheme long term capital appreciation by investing in a to Regular IDCW
investing in companies diversified portfolio of companies demonstrating February 05, 2020 Direct Growth
demonstrating sustainable sustainable practices across Environmental, Social and Direct IDCW
practices across Governance (ESG) parameters. However, there can be
Environment, Social and no assurance that the investment objective of the
Governance (ESG) theme) Scheme will be achieved.
Axis Global Equity Alpha Fund of Axis Global Equity Alpha The Investment objective of the scheme is to provide September 04, 2020 Regular Growth
Fund Fund of Fund (An open long term capital appreciation by predominantly to Regular IDCW
ended fund of fund scheme investing in Schroder International September 18, 2020 Direct Growth
investing in Schroder Selection Fund Global Equity Alpha, a fund that aims to Direct IDCW
International Selection Fund provide capital growth by investing in equity
Global and equity related securities of companies worldwide.
Equity Alpha) The Scheme may also invest a part of corpus
in debt, money market instruments and / or units of
liquid schemes in order to meet liquidity
Axis Banking ETF Axis Banking ETF (An Open The investment objective of the Scheme is to provide October 16, 2020
Ended scheme replicating / returns before expenses that closely to
tracking NIFTY Bank Index) correspond to the total returns of the NIFTY Bank Index October 29, 2020
subject to tracking errors.
232
NFO Close
Axis Special Situations Fund Axis Special Situations Fund The investment objective of the Scheme to generate December 04, 2020 Regular Growth
(An open ended equity long-term capital appreciation by investing in mis-priced to Regular IDCW
scheme following special stocks facing special December 18, 2020 Direct Growth
situations theme) situations. The mis-pricing of stocks can occur due to Direct IDCW
companies facing special situations like
regulatory/policy changes, management restructuring,
technology led disruption and innovation or
any temporary challenges in the operating environment.
Axis Greater China Equity Fund of Axis Greater China Equity The investment objective of the Scheme to provide long January 29, 2021 Regular Growth
Fund Fund of Fund (An open term capital appreciation by predominatingly investing in to Regular IDCW
ended fund of fund scheme units of Schroder February 05, 2021 Direct Growth
investing in Schroder International Selection Fund Greater China, a fund that Direct IDCW
International Selection Fund aims to provide capital growth by investing
Greater China) in equity and equity related securities of People's
Republic of China, Hong Kong SAR and Taiwan
companies. The Scheme may also invest a part of its
corpus in debt, money market instruments and
/ or units of liquid schemes in order to meet liquidity
AXIS Technology ETF AXIS Technology ETF (An The investment objective of the Scheme to provide March 18, 2021
Open Ended Exchange returns before expenses that closely correspond to the to
Traded Fund tracking NIFTY total returns of the NIFTY IT Index March 23, 2021
IT Index) subject to tracking errors.
^^^ Pursuant to SEBI Circular No. SEBI/HO/IMD/DF3/CIR/P/2020/228 dated November 06, 2020 & notice cum addendum dated December 22, 2020, name of the scheme has been
changed w.e.f. January 30, 2021.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other, or are interdependentor
comparable in any way.
The coronavirus pandemic prevailing in India and across countries during the year ended and post 31 March 2021 is considered as a significant event. As at the date of signing of these
financial statements, the COVID-19 crisis is still un-folding, and the full impact of the coronavirus is not capable of being qualitatively or quantitatively assessed on the businesses of the
investee companies. Management of Axis Mutual Fund has made attempts to ensure that adequate liquidity and quality of portfolio has been maintained. Even during the pandemic period,
management of the Fund had succeeded in achieving a significant growth in the SIP AUM and the highest Equity AUM as on March 31, 2021 amongst the industry peers. During the year,
the Fund has also witnessed a significantly increase total AUM from Rs. 1.16 Lakh crores as on March 31, 2020 to Rs. 1.91 Lakh crores as on March 31, 2021. Service providers like the
Registrar and Transfer Agent, Custodian and Fund Accountant have carried out extensive arrangements to address business needs and continuity of operations have been achieved by the
management all throughout ever since this pandemic has unfolded . Regulators and industry bodies supported the industry, and also permitted certain relaxations in regulatory
requirements. Considering the steps taken by the Government of India in controlling the pandemic, and with vaccine now been available against Covid-19, management of Axis Mutual Fund
see the spread of virus being controlled in near future, resulting into smooth business functioning across all sectors.
As on the date of signing of these financial statements, management of Axis Mutual Fund believes there are no subsequent events indicating any significant impact on the operations of the
Axis Mutual Fund, the going concerns of any of its Schemes for a foreseeable future and on the fair values of all debt and other investments held by all its schemes as of the Balance Sheet
date as a result of prevailing coronavirus pandemic.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-market’. The significant
accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the Trustee, are stated below.
For reporting the net asset value within the portfolio, the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments, and
expenses accrued, are allocated to the related options in proportion to their respective daily net assets arrived at by multiplying day-end outstanding units by previous day's closing NAV.

2.
Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each plan/Option, after adjusting an appropriate
portion of the sale or re-purchase price to the income equalisation account (in case of open-ended schemes).
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs, CCIL charges, STT and any
other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the purpose of execution of trades is restricted to 12 bps in
case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue account of the scheme as part of the
total expense ratio.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and debited to
'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued Income Account’.
Investments in foreign securities are accounted by converting the foreign currency into Indian Rupees at the closing exchange rate as per RBI prevailing on the trade date. Differences in
settlement amount on account of difference in exchange rate on the settlement date is recognised as foreign exchange gain /loss in revenue account.
233
Traded equity and equity related securities are valued at the last quoted closing price on the The National Stock Exchange of India Limited (Principal Stock Exchange). Where security is
not traded on the Principal Stock Exchange, the last quoted closing price of The Bombay Stock Exchange Limited is used.. If an equity and equity related security is not traded on any
stock exchange on a particular valuation day, the value at which it was traded on the principal stock exchange or any other stock exchange, as the case may be, on the earliest previous
day may be used, provided such date is not more than thirty days prior to valuation date.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on valuation date on the
respective stock exchange, settlement price is considered for valuation.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined by the AMC
under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Valuation of equity and equity related instrument under lock-in period (post listing) is done based on last quoted closing price after applying suitable discount for illiquidity as approved by
the valuation committee.
Investments in foreign securities (including American Depository Receipts) are valued based on the last closing prices at the overseas stock exchange on which the respective securities
are listed. If a security is listed on overseas stock exchange which is in a time zone ahead of India, then the same day’s closing price on such overseas stock exchange is used in
valuation. If a security is listed on overseas stock exchange which is in a time zone behind India, then the previous day’s closing price or same day's closing price at 5 pm IST on such
overseas stock exchange is used in valuation When on a particular valuation day, a security has not been traded on the selected stock exchange; the value at which it is traded on
another pre-approved stock exchange will be used.
Non traded foreign securities and American Depository Receipts, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined by
the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Valuation of Yes Bank shares (Lock-in for 3 years): W.e.f. March 16, 2020, 75% of shares (Lock-in for 3 years) valued at "Zero". Remaining 25% of shares (available for trading) is valued
as per existing valuation policy of equity and equity related securities.
Interest Rate Futures (IRF) are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not availableon valuationdate
on the respective stock exchange, settlement price is considered for valuation. IRF contracts, which are going to expire on valuation date are valued at settlement price.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as on the valuation date. Units
of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFI website as on the valuation date.
Valuation of investments in money market and debt securities (including government securities andtbills):
As at 31 March 2021, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices obtained from the valuation
agencies (i.e. CRISIL and ICRA). In case of new purchases, which are not a part of the security level pricing of valuation agencies, such securities are valued at purchase yield on the day
of purchase.
During the reporting periods, Government Securities (excluding tbills) are valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA).
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity up to 60 days, were valued on the basis of
amortized cost based on purchase price and subsequent trade price or last valuation price whichever is latest, which includes discount / premium accrued on a straight line basis over
the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the valuation agencies. In case the amortized value is
outside the above band, the price of the security is adjusted to bring the price within the ±0.10% band.
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity greater than 60 days, were valued at the average of
the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of valuation agencies,
such securities were valued at weighted average cost/yield on the day of purchase.
- Tbills with residual maturity up to 30 days, are valued on the basis of amortized cost based on purchase price and subsequent trade price (considered till September 24, 2019) or last
valuation price whichever is latest, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.025% band of the
price derived as per the reference yields provided by the valuation agencies. In case the amortized value is outside the above band, the price of the security is adjusted to bring the price
within the ±0.025% band.
W.e.f. September 25, 2019, irrespective of residual maturity, treasury bills were valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and
ICRA).
From June 20, 2019 to June 29, 2020, all money market and debt securities (excluding government securities and tbills) with residual maturity up to 30 days, were valued on the basis of
amortized cost based on purchase price and subsequent trade price (considered till September 24, 2019) or last valuation price whichever is latest, which includes discount / premium
accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.025% band of the price derived as per the reference yields provided by the valuation
agencies. In case the amortized value is outside the above band, the price of the security is adjusted to bring the price within the ±0.025% band.
From June 20, 2019 to June 29, 2020, all debt securities with residual maturity greater than 30 days, were valued at the average of the security level prices obtained from the valuation
agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of valuation agencies, such securities are valued at weighted average
cost/yield (from September 25, 2019 at purchase yield) on the day of purchase.
W.e.f. June 30, 2020, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices obtained from the valuation
agencies (i.e. CRISIL and ICRA).. In case of new purchases which are not a part of the security level pricing of valuation agencies, such securities are valued at purchase yield on the day
of purchase.
W.e.f. December 23, 2019, Tri-party repo/Reverse repo/Corporate Bond Repo with residual maturity up to 30 days, are valued at cost plus accrual basis and Tri-party repo/Reverse
repo/Corporate Bond Repo with residual maturity greater than 30 days, are valued at average of security level prices obtained from valuation agencies. In case security level prices given
by valuation agencies are not available (which is currently not held by any Mutual Fund), then such securities are valued at purchase yield on the date of purchase.
234
From May 20, 2019 to June 03, 2019, In case of debt securities or money market instruments of an issuer are rated below investment grade while others of a similar seniority are retained
at investment grade, AMC applied the appropriate haircut on such securities if an appropriate discount is not already captured by the valuation agencies.
Security classified as “below investment grade” and “Default” are valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA).
As per SEBI circular dated April 23, 2020, the securities, wherein issuers have rescheduled the payment towards principal/interest solely due to COVID-19 pandemic lockdown and/or in
light of the moratorium permitted by Reserve Bank of India (RBI), are being valued at the conservative price obtained from valuation agencies.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance sheet dates is
recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.

Income on investments is recognized on accrual basis except where there is uncertainty about ultimate recovery / realization. Such income is recognised when the uncertainty is resolved.
For quoted shares, the dividend income earned by a scheme is recognized on the date the share is quoted on an ex-dividend basis. For investments in shares which are not quoted on
the stock exchanges, the dividend income is recognised on the date of declaration.
Income on foreign securities are accounted by converting the foreign currency into Indian Rupees at the closing exchange rate as per RBI prevailing on the date of transaction.
Differences in settlement amount on account of difference in exchange rate on the settlement date is recognised as foreign exchange gain /loss in revenue account. Dividend income on
foreign securities are recognized net of applicable withholding taxes in the respective jurisdiction.
Interest income is recognised on an accrual basis. In respect of discounted securities, the discount to redemption value is amortized and recognised as interest income equally over the
period to redemption.

In case of open-endedscheme, when units are purchased / sold by the Scheme at NAV based price, amount representing unrealised appreciationper unit and unit premium reserve per
unit is credited to Unit Premium Reserve.
The balance amount of the purchase / sale price after reducing the face value of unit is transferred to Income Equalisation account and the net balance in this account is credited or
debited to the Revenue Account at the year end.
(f) Loans (borrowings)

The schemes may borrow to meet redemptions or for other permitted reasons up to 20% of net assets (at the time of borrowing) for a period of up to six months. Within such intended
period of borrowing (which is documented at the time of borrowing), the composition of borrowing (e.g. bank loans, TREPS, etc.) may change during the period depending on availability of
borrowing facility and the rate of interest.
The cost of borrowing in line with the policy has been adjusted against the interest income for the year or has been borne by the AMC, wherever applicable.
(g) Load
Exit load (net of GST) collected is recognized as income and credited to the scheme, wherever applicable.
(h) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three months) and Tri-Party Repo
(including reverse repurchase transactions).
(i) Cash Flow Statements

235
Unit Capital Amount in 000's
AXIS BLUECHIP FUND AXIS BLUECHIP FUND Axis Long Term Equity Fund Axis Long Term Equity Fund
Initial Capital 909,055,512.453 9,090,555 909,055,512.453 9,090,555 1,397,300.000 13,974 1,397,300.000 13,974
Regular Growth
Outstanding, beginning of year/period 2,909,731,637.203 29,097,315 1,286,633,730.466 12,866,336 3,537,728,302.911 35,377,284 3,454,789,382.958 34,547,894
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 1,069,763,328.508 10,697,633 420,432,314.962 4,204,323 647,153,997.356 6,471,540 586,849,637.447 5,868,496
Outstanding, end of year/period 4,332,085,059.014 43,320,850 2,909,731,637.203 29,097,315 3,431,353,898.521 34,313,540 3,537,728,302.911 35,377,284
Regular IDCW
Issued
-new fund offer - - - - - - - -
-during the year/period 81,639,725.175 816,397 173,479,076.230 1,734,791 47,595,054.056 475,951 99,294,066.418 992,941
Redeemed during the year/period 146,885,158.963 1,468,852 57,620,284.415 576,203 169,075,752.258 1,690,758 176,740,482.609 1,767,405

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Compulsory Lock-in Regular Growth

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -
Compulsory Lock-in Regular IDCW

Issued
-new fund offer - - - - - - - -
No Lock-in Regular Growth

Issued
-new fund offer - - - - - - - -
No Lock-in Regular IDCW

Issued
-new fund offer - - - - - - - -
Direct Growth
Outstanding, beginning of year/period 1,069,117,062.982 10,691,171 283,533,502.403 2,835,335 612,444,759.296 6,124,448 408,873,406.830 4,088,735
Issued
-new fund offer - - - - - - - -
-during the year/period 1,063,276,932.387 10,632,769 903,679,079.341 9,036,791 253,146,166.841 2,531,462 232,484,116.677 2,324,841
236
Amount in 000's
AXIS BLUECHIP FUND AXIS BLUECHIP FUND Axis Long Term Equity Fund Axis Long Term Equity Fund
Direct IDCW
Issued
-new fund offer - - - - - - - -
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Compulsory Lock-in Direct Growth

Issued
-new fund offer - - - - - - - -
Compulsory Lock-in Direct IDCW

Issued
-new fund offer - - - - - - - -
No Lock-in Direct Growth

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Issued
-new fund offer - - - - - - - -
-during the year/period 3,670,545,805.249 36,705,458 3,182,987,354.920 31,829,874 848,146,781.424 8,481,469 1,009,617,845.835 10,096,179
Redeemed during the year/period 1,660,424,111.277 16,604,241 617,672,378.255 6,176,724 864,012,094.204 8,640,121 796,688,171.568 7,966,882
237
Axis Midcap Fund Axis Midcap Fund Axis Focused 25 Fund Axis Focused 25 Fund
Initial Capital 166,132,528.548 1,661,326 166,132,528.548 1,661,326 250,115,254.495 2,501,153 250,115,254.495 2,501,153
Regular Growth
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 1,296,728,853.617 12,967,288 952,647,898.573 9,526,479 2,909,700,569.493 29,097,008 2,662,310,613.119 26,623,108
Regular IDCW
Outstanding, beginning of year/period 59,617,402.848 596,176 44,551,119.265 445,513 189,459,118.345 1,894,590 206,025,612.786 2,060,255
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 43,698,825.360 436,990 59,617,402.848 596,176 110,001,879.959 1,100,017 189,459,118.345 1,894,590

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Direct Growth
Outstanding, beginning of year/period 333,978,705.350 3,339,788 98,847,344.419 988,474 642,679,406.964 6,426,794 198,906,910.788 1,989,069
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 116,814,942.172 1,168,149 73,454,822.760 734,548 164,101,091.632 1,641,011 89,975,558.871 899,756
238
Amount in 000's
Direct IDCW
Issued
-new fund offer - - - - - - - -
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Outstanding, beginning of year/period 1,359,907,037.031 13,599,072 612,943,324.135 6,129,434 3,527,494,561.363 35,274,947 2,713,932,905.323 27,139,330
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 431,311,022.672 4,313,110 214,725,750.243 2,147,257 1,282,045,400.101 12,820,454 1,142,439,262.728 11,424,393
239
Axis Arbitrage Fund Axis Arbitrage Fund Axis Dynamic Equity Fund Axis Dynamic Equity Fund
Initial Capital 55,114,925.730 551,149 55,114,925.730 551,149 2,088,857,400.800 20,888,575 2,088,857,400.800 20,888,575
Regular Growth
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 693,836,534.319 6,938,364 512,094,940.995 5,120,948 961,240,690.211 9,612,406 1,357,443,415.541 13,574,433
Regular IDCW
Outstanding, beginning of year/period 276,879,819.001 2,768,798 451,449,335.643 4,514,493 93,432,253.965 934,323 149,901,347.699 1,499,014
Issued
-new fund offer - - - - - - - -
-during the year/period 14,439,495.745 144,395 496,420,928.161 4,964,209 3,642,951.872 36,430 12,483,862.735 124,839
Outstanding, end of year/period 40,124,789.013 401,248 276,879,819.001 2,768,798 49,798,597.292 497,987 93,432,253.965 934,323

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Direct Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 1,469,734,684.278 14,697,347 872,534,746.731 8,725,347 9,973,409.402 99,734 16,702,360.377 167,024
Outstanding, end of year/period 1,286,592,961.690 12,865,929 734,696,530.328 7,346,965 40,447,338.091 404,474 41,042,458.018 410,425
240
Amount in 000's
Axis Arbitrage Fund Axis Arbitrage Fund Axis Dynamic Equity Fund Axis Dynamic Equity Fund
Direct IDCW Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Issued
-new fund offer - - - - - - - -
-during the year/period 41,249,945.980 412,499 1,053,882,848.096 10,538,828 262,992.781 2,630 331,333.548 3,313
Redeemed during the year/period 202,642,737.210 2,026,427 1,462,372,371.939 14,623,724 753,989.125 7,540 879,982.146 8,800
Outstanding, end of year/period 18,619,972.121 186,199 180,012,763.351 1,800,127 1,472,078.403 14,720 1,963,074.747 19,630
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 2,237,079,498.614 22,370,795 3,019,895,084.389 30,198,951 677,089,438.491 6,770,894 1,068,290,102.181 10,682,902
241

Initial Capital 2,185,272,898.500 21,852,729 2,185,272,898.500 21,852,729 1,117,603,598.695 11,176,036 1,117,603,598.695 11,176,036
Regular Growth
Outstanding, beginning of year/period 4,150,901,378.688 41,509,013 2,520,373,393.131 25,203,734 476,597,844.158 4,765,979 470,245,433.414 4,702,454
Issued
-new fund offer - - - - - - - -
Regular IDCW
Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
242
Amount in 000's
Direct Growth
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period 224,206,806.815 2,242,068 68,477,613.926 684,776 5,129,139.006 51,291 12,712,807.171 127,128
Direct IDCW
Outstanding, beginning of year/period 22,586,174.063 225,862 63,054,622.539 630,547 475,970.997 4,759 572,578.654 5,725
Issued
-new fund offer - - - - - - - -
-during the year/period 7,056,215.824 70,562 19,603,248.238 196,032 40,626.054 406 59,901.699 599
Outstanding, end of year/period 12,837,024.800 128,370 22,586,174.063 225,862 203,588.971 2,035 475,970.997 4,759
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - 1,131,773.321 11,318 278,832.674 2,788

Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 38,059.567 381 142,223.140 1,422
Redeemed during the year/period - - - - 65,850.210 659 121,490.928 1,215

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Outstanding, beginning of year/period 4,879,035,921.224 48,790,360 2,907,235,865.023 29,072,360 584,774,011.214 5,847,743 611,887,330.414 6,118,875
Issued
-new fund offer - - - - - - - -
243
AXIS SMALL CAP FUND AXIS SMALL CAP FUND AXIS CHILDREN'S GIFT FUND AXIS CHILDREN'S GIFT FUND
Initial Capital 164,291,547.000 1,642,915 164,291,547.000 1,642,915 209,071,783.903 2,090,718 209,071,783.903 2,090,718
Regular Growth
Outstanding, beginning of year/period 492,213,292.784 4,922,133 67,934,812.117 679,348 - - - -
Issued
-new fund offer - - - - - - - -
-during the year/period 275,153,752.666 2,751,538 477,245,389.061 4,772,454 - - - -
Redeemed during the year/period 145,552,800.972 1,455,528 52,966,908.394 529,669 - - - -
Outstanding, end of year/period 621,814,244.478 6,218,143 492,213,292.784 4,922,133 - - - -
Regular IDCW
Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year/period - - - - 247,318,341.070 2,473,182 227,130,978.167 2,271,308
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period - - - - 261,840,386.291 2,618,402 247,318,341.070 2,473,182
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
-during the year/period - - - - - - (89.585) (1)
244
Amount in 000's
AXIS SMALL CAP FUND AXIS SMALL CAP FUND AXIS CHILDREN'S GIFT FUND AXIS CHILDREN'S GIFT FUND
No Lock-in Regular IDCW Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - 108,750.280 1,088 58,484.428 585
Direct Growth
Outstanding, beginning of year/period 244,756,545.340 2,447,566 18,093,056.732 180,931 - - - -
Issued
-new fund offer - - - - - - - -
-during the year/period 221,524,449.380 2,215,244 292,385,517.084 2,923,855 - - - -
Redeemed during the year/period 111,879,629.761 1,118,796 65,722,028.476 657,220 - - - -
Outstanding, end of year/period 354,401,364.959 3,544,014 244,756,545.340 2,447,566 - - - -
Direct IDCW
Outstanding, beginning of year/period 5,731,730.377 57,318 477,616.048 4,776 - - - -
Issued
-new fund offer - - - - - - - -
Direct Monthly IDCW

Outstanding, beginning of year/period - - - - - -
Issued
-new fund offer - - - - - -
-during the year/period - - - - - -
Redeemed during the year/period - - - - - -

Outstanding, beginning of year/period
Issued
-new fund offer - - - - - -
-during the year/period - - - - - -
Redeemed during the year/period - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
-during the year/period - - - - 311.153 3 1,826.437 18

Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - 92,507.368 925 130,314.214 1,303

Issued
-new fund offer - - - - - - - -
Redeemed during the year/period - - - - 4,619.741 46 200.912 2
Total
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 1,002,503,433.366 10,025,036 769,282,906.144 7,692,830 337,255,869.794 3,372,557 327,183,699.564 3,271,836
245
AXIS TRIPLE ADVANTAGE FUND AXIS TRIPLE ADVANTAGE FUND AXIS EQUITY HYBRID FUND AXIS EQUITY HYBRID FUND
Initial Capital 428,244,059.562 4,282,440 428,244,059.562 4,282,440 2,280,950,769.100 22,809,508 2,280,950,769.100 22,809,508
Regular Growth
Issued
-new fund offer - - - - - - - -
-during the year/period 263,673,580.020 2,636,736 29,183,586.436 291,836 294,165,188.077 2,941,652 400,904,240.329 4,009,042
Redeemed during the year/period 62,576,501.980 625,765 33,077,937.264 330,779 546,106,999.352 5,461,070 1,118,708,369.424 11,187,084
Regular IDCW
Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
246
Amount in 000's
AXIS TRIPLE ADVANTAGE FUND AXIS TRIPLE ADVANTAGE FUND AXIS EQUITY HYBRID FUND AXIS EQUITY HYBRID FUND
Issued
-new fund offer - - - - - - - -
Direct Growth
Issued
-new fund offer - - - - - - - -
Direct IDCW
Issued
-new fund offer - - - - - - - -
-during the year/period 751,283.914 7,513 348,031.788 3,480 416,055.247 4,161 1,078,126.705 10,781
Redeemed during the year/period 465,078.236 4,651 64,156.872 642 159,328.590 1,593 477,924.121 4,779
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Issued
-new fund offer - - - - - - - -
-during the year/period 294,998,465.996 2,949,985 39,541,883.303 395,418 319,632,198.726 3,196,322 454,380,563.900 4,543,805
Redeemed during the year/period 73,529,702.831 735,297 39,378,068.836 393,781 587,882,844.760 5,878,829 1,160,919,723.543 11,609,197
247

AXIS GROWTH OPPORTUNITIES AXIS GROWTH
AXIS NIFTY 100 INDEX FUND AXIS NIFTY 100 INDEX FUND
FUND OPPORTUNITIES FUND
Initial Capital 655,322,069.400 6,553,221 655,322,069.400 6,553,221 425,156,788.100 4,251,568 425,156,788.100 4,251,568
Regular Growth
Issued
-new fund offer - - - - - - 402,888,708.600 4,028,887
-during the year/period 1,059,391,958.084 10,593,920 518,521,162.276 5,185,212 114,260,818.038 1,142,608 60,930,379.463 609,304
Regular IDCW
Outstanding, beginning of year/period 30,676,852.289 306,769 22,973,108.485 229,731 5,630,889.208 56,308 - -
Issued
-new fund offer - - - - - - 8,459,735.400 84,597

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
248
Amount in 000's
Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Direct Growth
Outstanding, beginning of year/period 73,124,732.572 731,248 10,986,698.431 109,867 40,810,893.050 408,110 - -
Issued
-new fund offer - - - - - - 13,408,764.200 134,088
Outstanding, end of year/period 171,264,009.399 1,712,641 73,124,732.572 731,248 122,613,154.327 1,226,133 40,810,893.050 408,110
Direct IDCW
Outstanding, beginning of year/period 982,038.024 9,820 509,093.314 5,091 966,419.028 9,664 - -
Issued
-new fund offer - - - - - - 399,579.900 3,996
-during the year/period 1,793,257.299 17,933 1,894,096.169 18,941 1,272,886.455 12,729 741,507.052 7,415
Redeemed during the year/period 996,470.340 9,965 1,421,151.459 14,212 848,636.143 8,486 174,667.924 1,747
Outstanding, end of year/period 1,778,824.983 17,788 982,038.024 9,820 1,390,669.340 13,907 966,419.028 9,664
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
249
Amount in 000's
Issued
-new fund offer - - - - - - - -
Total
Issued
-new fund offer - - - - - - 425,156,788.100 4,251,568
250

AXIS RETIREMENT SAVINGS AXIS RETIREMENT SAVINGS AXIS RETIREMENT SAVINGS AXIS RETIREMENT SAVINGS
FUND - AGGRESSIVE PLAN FUND - AGGRESSIVE PLAN FUND - CONSERVATIVE PLAN FUND - CONSERVATIVE PLAN
Initial Capital 457,592,701.900 4,575,927 457,592,701.900 4,575,927 130,550,674.700 1,305,507 130,550,674.700 1,305,507
Regular Growth
Outstanding, beginning of year/period 453,777,485.510 4,537,775 - - 102,403,320.741 1,024,034 - -
Issued
-new fund offer - - 442,788,105.200 4,427,881 - - 127,612,675.500 1,276,127
Outstanding, end of year/period 450,478,046.486 4,504,781 453,777,485.510 4,537,775 84,978,045.233 849,781 102,403,320.741 1,024,034
Regular IDCW
Outstanding, beginning of year/period 8,592,893.230 85,929 - - 2,057,650.467 20,576 - -
Issued
-new fund offer - - 8,091,505.100 80,915 - - 1,984,230.800 19,842
-during the year/period 1,735,050.125 17,351 950,395.273 9,504 64,012.624 640 194,883.303 1,949

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
251
Amount in 000's
FUND - AGGRESSIVE PLAN FUND - AGGRESSIVE PLAN FUND - CONSERVATIVE PLAN FUND - CONSERVATIVE PLAN
No Lock-in Regular IDCW Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Issued
-new fund offer - - - - - - - -
Direct Growth
Issued
-new fund offer - - 6,684,091.600 66,841 - - 946,568.400 9,466
-during the year/period 5,791,975.567 57,920 2,550,796.672 25,508 1,772,488.769 17,725 294,814.739 2,948
Redeemed during the year/period 976,397.865 9,764 25,056.354 251 210,252.239 2,103 112,513.973 1,125
Direct IDCW
Outstanding, beginning of year/period 55,765.391 558 - - 13,487.190 135 - -
Issued
-new fund offer - - 29,000.000 290 - - 7,200.000 72
-during the year/period 149,636.530 1,496 29,865.391 299 18,492.294 185 6,287.190 63
Redeemed during the year/period 16,919.935 169 3,100.000 31 - - - -
Outstanding, end of year/period 188,481.986 1,885 55,765.391 558 31,979.484 320 13,487.190 135
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Outstanding, beginning of year/period 471,635,976.049 4,716,360 - - 105,603,327.564 1,056,034 - -
Issued
-new fund offer - - 457,592,701.900 4,575,927 - - 130,550,674.700 1,305,507
Outstanding, end of year/period 474,112,186.552 4,741,123 471,635,976.049 4,716,360 89,431,783.801 894,318 105,603,327.564 1,056,034
252

AXIS RETIREMENT SAVINGS AXIS RETIREMENT SAVINGS
AXIS ESG EQUITY FUND AXIS ESG EQUITY FUND
FUND - DYNAMIC PLAN FUND - DYNAMIC PLAN
Initial Capital 274,022,525.400 2,740,225 274,022,525.400 2,740,225 1,714,972,480.300 17,149,724 1,714,972,480.300 17,149,724
Regular Growth
Outstanding, beginning of year/period 242,158,049.345 2,421,581 - - 1,678,080,943.274 16,780,810 - -
Issued
-new fund offer - - 265,119,641.500 2,651,196 - - 1,673,580,610.400 16,735,806
-during the year/period 29,086,953.366 290,870 24,821,157.429 248,212 431,907,993.740 4,319,080 62,208,268.123 622,083
Regular IDCW
Issued
-new fund offer - - 6,243,470.700 62,435 - - 25,156,306.400 251,563
Redeemed during the year/period 1,423,576.810 14,236 1,320,360.730 13,204 9,984,382.537 99,844 785,370.319 7,854

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
253
Amount in 000's
AXIS RETIREMENT SAVINGS AXIS RETIREMENT SAVINGS
AXIS ESG EQUITY FUND AXIS ESG EQUITY FUND
FUND - DYNAMIC PLAN FUND - DYNAMIC PLAN
Issued
-new fund offer - - - - - - - -
Direct Growth
Issued
-new fund offer - - 2,602,913.200 26,029 - - 15,840,524.700 158,405
-during the year/period 2,057,846.094 20,578 667,578.625 6,676 33,185,676.018 331,857 4,014,949.146 40,149
Redeemed during the year/period 521,830.168 5,218 238,567.389 2,386 9,913,184.755 99,132 713,063.387 7,131
Direct IDCW
Outstanding, beginning of year/period 83,178.523 832 - - 454,418.267 4,544 - -
Issued
-new fund offer - - 56,500.000 565 - - 395,038.800 3,950
Redeemed during the year/period 43,429.688 434 96.806 1 316,728.860 3,167 2,700.000 27
Outstanding, end of year/period 85,042.264 851 83,178.523 832 680,782.085 6,808 454,418.267 4,544
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -
Total
Outstanding, beginning of year/period 250,453,415.785 2,504,535 - - 1,722,277,041.487 17,222,769 - -
Issued
-new fund offer - - 274,022,525.400 2,740,225 - - 1,714,972,480.300 17,149,724
-during the year/period 31,390,418.591 313,904 25,772,664.894 257,728 468,754,815.935 4,687,549 66,513,630.142 665,136
254

Axis Global Equity Alpha Fund of Axis Greater China Equity Fund of
Axis Banking ETF Axis Special Situations Fund AXIS Technology ETF
Fund Fund
March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021
Face Value Rs. 10 each fully paid up Face Value Rs. 100 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 100 each fully paid up
Quantity Amount Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Initial Capital 1,180,583,132.463 11,805,831 2,718,279.000 271,828 2,124,810,370.469 21,248,104 27,280,363.105 272,804 1,815,687.000 181,569
Regular Growth
Outstanding, beginning of year/period - - - - - - - - - -
Issued
-new fund offer 1,114,090,809.940 11,140,908 - - 2,052,238,455.134 20,522,385 19,713,579.940 197,136 - -
-during the year/period 165,061,918.900 1,650,619 - - 233,051,569.127 2,330,516 4,494,846.760 44,948 - -
Redeemed during the year/period 195,216,151.149 1,952,162 - - 153,269,260.327 1,532,693 434,451.096 4,345 - -
Outstanding, end of year/period 1,083,936,577.691 10,839,365 - - 2,132,020,763.934 21,320,208 23,773,975.604 237,739 - -
Regular IDCW
Issued
-new fund offer 17,055,576.364 170,556 - - 14,940,428.772 149,404 248,232.189 2,482 - -
-during the year/period 2,163,936.197 21,639 - - 1,395,447.538 13,954 45,960.264 460 - -
Redeemed during the year/period 2,799,206.753 27,992 - - 1,384,324.151 13,843 9,505.794 95 - -
Outstanding, end of year/period 16,420,305.808 164,203 - - 14,951,552.159 149,515 284,686.659 2,847 - -

Issued
-new fund offer - - - - - - - - - -
-during the year/period - - - - - - - - - -
Redeemed during the year/period - - - - - - - - - -
Outstanding, end of year/period - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -
Axis Banking ETF

Issued
-new fund offer - - 2,718,279.000 271,828 - - - - - -
-during the year/period - - 340,000.000 34,000 - - - - - -
Redeemed during the year/period - - 1,740,000.000 174,000 - - - - - -
Outstanding, end of year/period - - 1,318,279.000 131,828 - - - - - -
Axis Technology ETF

Issued
-new fund offer - - - - - - - - 1,815,687.000 181,569
Outstanding, end of year/period - - - - - - - - 1,815,687.000 181,569

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -
Direct Growth
Issued
-new fund offer 48,250,241.382 482,502 - - 56,779,425.966 567,794 7,294,352.186 72,944 - -
-during the year/period 54,185,613.608 541,856 - - 15,376,494.241 153,765 17,483,876.415 174,839 - -
Redeemed during the year/period 9,464,845.705 94,648 - - 6,170,879.690 61,709 231,698.148 2,317 - -
Outstanding, end of year/period 92,971,009.285 929,710 - - 65,985,040.517 659,850 24,546,530.453 245,466 - -
255
Amount in 000's
Axis Global Equity Alpha Fund of Axis Greater China Equity Fund of
Axis Banking ETF Axis Special Situations Fund AXIS Technology ETF
Fund Fund
Face Value Rs. 10 each fully paid up Face Value Rs. 100 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 100 each fully paid up
Quantity Amount Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Direct IDCW
Issued
-new fund offer 1,186,504.777 11,865 - - 852,060.597 8,521 24,198.790 242 - -
-during the year/period 536,149.276 5,361 - - 406,644.157 4,066 46,705.616 467 - -
Redeemed during the year/period 100,120.975 1,001 - - 45,695.499 457 6,726.942 67 - -
Outstanding, end of year/period 1,622,533.078 16,225 - - 1,213,009.255 12,130 64,177.464 642 - -
Direct Monthly IDCW

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -

Issued
-new fund offer - - - - - - - - - -
Total
Issued
-new fund offer 1,180,583,132.463 11,805,831 2,718,279.000 271,828 2,124,810,370.469 21,248,104 27,280,363.105 272,804 1,815,687.000 181,569
-during the year/period 221,947,617.981 2,219,475 340,000.000 34,000 250,230,155.063 2,502,301 22,071,389.055 220,714 - -
Redeemed during the year/period 207,580,324.582 2,075,803 1,740,000.000 174,000 160,870,159.667 1,608,702 682,381.980 6,824 - -
Outstanding, end of year/period 1,194,950,425.862 11,949,503 1,318,279.000 131,828 2,214,170,365.865 22,141,703 48,669,370.180 486,694 1,815,687.000 181,569
256
3. Unit Capital Amount in 000's

March 31, 2021 March 31, 2020
Face Value Rs. 10 each fully paid up ^^ Face Value Rs. 100 each fully paid up
(Rs. in 000's) (Rs. in 000's)
Initial Capital # 2,272,030.000 22,720 227,203.000 22,720
Up to the date of FV change

Outstanding, beginning of year 62,203.000 6,220 - -
Issued
-during the period 125,000.000 12,500 - -
Redeemed during the period - - - -
Outstanding as on 24 July 2020 187,203.000 18,720
After the date of FV change

Adjusted Units as on 24 July 2020
based on revised face value 1,872,030.000 18,720 - -
Issued
Redeemed during the period 250,000.000 2,500 - -
Outstanding, beginning of previous year

Issued 62,203.000 6,220
-during the year
Redeemed during the year 5,000.000 500
5,000.000 500
Outstanding, end of year 2,322,030.000 23,220 62,203.000 6,220
^Âxis MF had issued addendum dated July 9, 2020 regarding reduction in face value in case of Axis Nifty ETF - from INR 100 per
unit to INR 10 per unit.
# Qty. as at 31 Mar 21 is based on revised face value.
257
Rupees in '000

Balance, beginning of year/period 42,196,942 9,506,800 75,352,774 66,469,743 22,722,080 6,601,692
Net premium/discount on issue/redemption of units 46,476,746 51,595,467 2,405,437 10,205,783 19,664,194 21,827,564
Transferred (to) / from equalisation account (14,024,054) (18,905,325) 2,307,731 (1,322,752) (3,284,942) (5,707,176)
Balance, end of year/period 74,649,634 42,196,942 80,065,942 75,352,774 39,101,332 22,722,080

Balance, beginning of year/period - 6,407,691 - 24,013,424 - 2,981,882
Net change in marked to market gain / loss in value of investments 61,348,943 (6,407,691) 72,227,247 (24,013,424) 31,034,768 (2,981,882)
Balance, end of year/period 61,348,943 - 72,227,247 - 31,034,768 -
Retained surplus
Balance, beginning of year / period 24,884,514 14,425,177 50,552,435 50,728,752 8,032,229 6,272,963
Transferred (to) / from revenue account (150,957) (419,140) - (177,596) (145,004) (166,280)
Net Surplus / (Deficit) transferred from revenue account 22,326,606 10,878,477 27,535,103 1,279 7,691,952 1,925,546
Balance, end of year / period 47,060,163 24,884,514 78,087,538 50,552,435 15,579,177 8,032,229
Total reserves 183,058,740 67,081,456 230,380,727 125,905,209 85,715,277 30,754,309
The share of the plans in the reserves and surplus is as follows:
RG Regular Growth 124,377,486 46,567,701 174,189,427 100,992,769 57,866,551 21,502,292

RD Regular IDCW 1,608,876 730,585 8,471,950 4,747,070 842,445 539,015
RM Regular Monthly IDCW - - - - - -
RQ Regular Quarterly IDCW - - - - - -
G Axis Nifty ETF - - - - - -
G Axis Banking ETF - - - - - -
G Axis Technology ETF - - - - - -
RG Compulsory Lock-in Regular Growth - - - - - -
RD Compulsory Lock-in Regular IDCW - - - - - -
FG No Lock-in Regular Growth - - - - - -
FD No Lock-in Regular IDCW - - - - - -
ZG Direct Growth 56,614,861 19,559,011 46,432,883 19,432,819 26,725,242 8,525,020
ZD Direct IDCW 457,517 224,159 1,286,467 732,551 281,039 187,982
ZM Direct Monthly IDCW - - - - - -
ZQ Direct Quarterly IDCW - - - - - -
ZG Compulsory Lock-in Direct Growth - - - - - -
ZD Compulsory Lock-in Direct IDCW - - - - - -
DG No Lock-in Direct Growth - - - - - -
AAD No Lock-in Direct IDCW - - - - - -
183,058,740 67,081,456 230,380,727 125,905,209 85,715,277 30,754,309

- - - - - -
5. CURRENT LIABILITIES & PROVISIONS
Amount due to AMC
- Management fees 112,386 - 114,403 104,748 35,740 10,342
Trusteeship fee payable 96 37 110 63 40 16
- Lateral shift payable 65,054 213,044 52,650 34,656 34,525 125,503
- Others 436,083 386,367 572,535 130,889 168,171 110,777
Interscheme payable - - 11,251 - - -
Contract for purchase of investments - 1,241,838 - - - 98,556
Registrar service fees payable 11,809 6,434 12,866 10,067 4,943 2,682
Dividend payable on units 291,435 4,635 15,690 16,202 710 707
MTM margin payable - - - - - -
Unit application pending allotment 44,786 18,571 95,410 29,656 15,474 1,530
Commission to distributors payable 261,682 136,779 256,981 195,937 125,282 65,231
Custody fees payable 772 899 882 1,635 324 389
Investor education expense payable 4,160 1,898 4,758 3,268 1,740 806
Unclaimed redemption & dividend 30,413 19,225 60,732 41,483 4,855 2,339
Other current liabilities 141,741 31,260 125,684 32,830 41,876 10,542
1,400,592 2,061,319 1,324,204 601,464 433,681 429,436
6. INVESTMENTS
Equity shares 231,041,572 86,448,726 273,250,005 166,058,503 97,936,105 36,935,724
Units of mutual fund - - - - - -
Listed debentures and bonds - 250,353 - 252,808 - -
Certificate of deposit - - - - - -
Commercial paper - - - - - -
International equities - - - - - -
American depository receipt - - - - - -
Government securities (including treasury bills) - - - - - -
INVESTMENTS 231,041,572 86,699,079 273,250,005 166,311,311 97,936,105 36,935,724
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund), as per
clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
258
Equity shares
- appreciation 61,450,303 5,050,117 72,843,775 11,932,836 31,261,071 1,843,178
- depreciation 177,979 12,872,268 616,528 27,483,109 226,303 6,557,101
- depreciation - 1 - 5 - -
Commercial paper
International equities
American depository receipt
Future
- appreciation 104,743 314,681 - - - 16,356
- depreciation 28,124 - - - - -
Options
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
to to to to to to
Purchases (excluding collateralised lending, fixed deposits, futures and

options)
Other - amount 139,466,578 122,249,565 157,882,435 218,818,169 40,887,427 39,906,526
Purchases at notional value (index / stock futures)
Future - amount 43,989,111 42,086,885 - - 3,567,217 7,074,875
- as a percentage of average daily net assets 24.23% 51.68% - - 5.06% 20.83%
Purchases at option premium (index / stock options)
Option - amount - - - - - -
- as a percentage of average daily net assets - - - - - -
Sales (excluding collateralised lending, fixed deposits, futures and
options)
Other - amount 64,875,446 40,687,780 154,632,082 131,819,633 15,740,864 13,975,430
Sales/Expiry at notional value (index / stock futures)
Future - amount 46,681,361 35,700,051 - - 4,292,329 6,375,921
- as a percentage of average daily net assets 25.72% 43.83% - - 6.09% 18.77%
Sales at exercised price (index / stock options)
- - -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2020 in companies which have
invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
(v) Aggregate fair value of non traded investments valued in good
faith - 250,353 - 252,808 - -
259
Rupees in '000
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) 2,127,300 2,121,700 - - - 739,900
2,127,300 2,121,700 - - - 739,900

Balances with banks in current accounts 808,703 588,859 1,152,789 623,949 447,190 318,603
- Lateral shift receivable 21,695 127,957 8,107 15,953 9,674 72,916
- Others 3,637 107,982 10,826 207,558 6,500 38,616
Interscheme receivable 34,760 31,649 - 181 3,118 921
Contracts for sale of investments - - - 224,549 - -
Outstanding and accrued income 5,857 14,415 - 11,732 11,270 896
Margin deposit with Clearing Corporation of India Limited 79,300 - 45,500 - 37,400 -
Amount due from AMC - 2,112 - - - -
MTM margin receivable 22,362 192,656 - - - 12,348
Reverse Repo and Tri-Party Repo 13,700,878 22,553,314 6,389,124 8,444,630 6,503,077 6,660,554
Options - - - - - -
Unclaimed redemption & dividend (Invested in TREPS) 30,413 19,225 60,732 41,483 4,855 2,339
Other current assets 245 - 4,245 376 433 -
14,707,850 23,638,169 7,671,323 9,570,411 7,023,517 7,107,193
to to to to to to
9. INTEREST
Money market instruments - 12,872 - 25,404 - -

Debentures and bonds 6,593 49 5,020 189 - -
Fixed Deposits 56,034 34,816 2,184 6,391 19,363 12,684
Collateralised lending, Reverse Repo and Tri-Party Repo 333,693 646,165 148,885 356,835 166,868 266,020
Securitised Debt - - - - - -
396,320 693,902 156,089 388,819 186,231 278,704
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after
excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During
the year ended March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:
to to to to to to
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax)
which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
to to to to to to
Income (net off realised loss on sale of investment and excluding net
change in marked to market in value of investments)
- amount 3,537,476 880,986 19,362,442 19,051,736 776,325 1,499,731
- amount 2,499,626 1,302,038 3,538,003 3,266,040 1,066,882 583,794
260
Rupees in '000
Axis Focused 25 Axis Focused 25

Fund Fund

Balance, beginning of year/period 44,653,034 26,536,787 512,942 544,929
Net premium/discount on issue/redemption of units 9,629,284 16,205,498 3,279,108 1,819,398
Transferred (to) / from equalisation account 1,507,199 1,910,749 (3,151,566) (1,851,385)
Balance, end of year/period 55,789,517 44,653,034 640,484 512,942

Balance, beginning of year/period - 5,807,983 - 598,360
Net change in marked to market gain / loss in value of investments 29,869,904 (5,807,983) 1,518,940 (598,360)
Balance, end of year/period 29,869,904 - 1,518,940 -
Retained surplus
Balance, beginning of year / period 2,031,377 12,416,011 5,559,842 2,249,282
Transferred (to) / from revenue account - (1,248) (42,031) -
Net Surplus / (Deficit) transferred from revenue account 22,890,145 (10,383,386) 2,603,327 3,310,560
Balance, end of year / period 24,921,522 2,031,377 8,121,138 5,559,842
Total reserves 110,580,943 46,684,411 10,280,562 6,072,784
RG Regular Growth 79,966,492 35,670,545 3,226,414 2,151,511

RD Regular IDCW 1,037,384 617,853 25,316 139,629
RM Regular Monthly IDCW - - - -
RQ Regular Quarterly IDCW - - - -
G Axis Nifty ETF - - - -
G Axis Banking ETF - - - -
G Axis Technology ETF - - - -
RG Compulsory Lock-in Regular Growth - - - -
RD Compulsory Lock-in Regular IDCW - - - -
FG No Lock-in Regular Growth - - - -
FD No Lock-in Regular IDCW - - - -
ZG Direct Growth 29,258,422 9,990,432 7,002,521 3,565,358
ZD Direct IDCW 318,645 405,581 26,311 216,286
ZM Direct Monthly IDCW - - - -
ZQ Direct Quarterly IDCW - - - -
ZG Compulsory Lock-in Direct Growth - - - -
ZD Compulsory Lock-in Direct IDCW - - - -
DG No Lock-in Direct Growth - - - -
AAD No Lock-in Direct IDCW - - - -
110,580,943 46,684,411 10,280,562 6,072,784

- - - -
Amount due to AMC
- Management fees 68,169 80,920 7,020 32
Trusteeship fee payable 59 29 12 10
- Lateral shift payable 42,458 444,564 27,251 1,068,819
- Others 203,103 158,896 34,705 635,044
Interscheme payable - - - 225
Contract for purchase of investments - 706,171 590,428 2,806,559
Audit fee payable 179 318 1 16
Registrar service fees payable 7,284 5,060 1,270 1,368
Dividend payable on units 163,023 2,099 - 123
MTM margin payable 39,049 - - 387,056
Unit application pending allotment 17,040 4,321 984 10
Commission to distributors payable 165,834 118,667 5,189 6,089
Custody fees payable 478 739 98 241
Investor education expense payable 2,574 1,506 512 502
Unclaimed redemption & dividend 10,463 4,389 151 238
Other current liabilities 82,952 30,897 16,202 11,754
802,665 1,558,576 683,823 4,918,086
261
Rupees in '000

Fund Fund
6. INVESTMENTS
Equity shares 143,527,447 74,905,711 20,230,861 15,648,559
Units of mutual fund - - - -
Listed debentures and bonds - 251,600 1,578,233 2,201,839
Certificate of deposit - - 241,459 19,787
Commercial paper - - - 474,295
International equities - - - -
American depository receipt - - - -
Government securities (including treasury bills) - - - -
INVESTMENTS 143,527,447 75,157,311 22,050,553 18,344,480
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were
held in the name of the fund), as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Rupees in '000
Axis Focused 25 Axis Focused 25 AXIS ARBITRAGE

Axis Arbitrage Fund
Fund Fund FUND
Equity shares
- appreciation 29,690,295 1,820,632 1,973,402 164,683
- depreciation - 18,450,709 252,054 3,581,294
- appreciation - - - -
- depreciation - - - -
- appreciation - - 7,574 6,903
- depreciation - 38 1,262 4,397
- appreciation - - 478 33
Commercial paper
- depreciation - - - 624
Future
- appreciation 180,646 - 161,436 166,165
- depreciation 1,036 - 370,634 673,221
Options
262
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average
daily net assets are as follows: Rupees in '000

Axis Arbitrage Fund
Fund Fund FUND
to to to to

options)
Other - amount 107,338,852 126,013,321 74,725,753 101,412,201
- as a percentage of average daily net assets 88.99% 149.49% 265.85% 394.88%
Future - amount 66,614,021 21,488,570 279,126,243 213,226,998
Option - amount - - - -
- as a percentage of average daily net assets - - - -
options)
Other - amount 94,930,720 101,504,920 80,968,972 77,203,378
Future - amount 60,931,744 20,936,976 273,004,786 219,835,549
- -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of
such investments as at March 31, 2020 in companies which have invested in any scheme of the Fund in excess of five per cent
of that scheme's net assets are provided in Attachment 1.

Axis Arbitrage Fund
Fund Fund FUND
faith - 251,600 1,567,813 2,493,180
Rupees in '000

Axis Arbitrage Fund
Fund Fund FUND
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) 3,015,100 315,000 6,186,000 5,347,300
3,015,100 315,000 6,186,000 5,347,300

- Lateral shift receivable 5,311 357,219 32 851,251
- Others 7,197 26,544 1 7,369
Interscheme receivable 1,268 8,479 894 -
Contracts for sale of investments - 800,687 1,114,703 -
Outstanding and accrued income 16,122 15,085 270,497 205,498
Margin deposit with Clearing Corporation of India Limited 27,200 - 20,000 -
Amount due from AMC - - - -
MTM margin receivable - - 10,107 -
Cash margin money placed for derivatives - - - 290,000
Options - - - -
Unclaimed redemption & dividend (Invested in TREPS) 10,463 4,389 151 238
Other current assets 100 - 42 -
4,491,303 8,045,623 3,119,572 4,335,928
263
Rupees in '000
to to to to
9. INTEREST
Money market instruments - 14,158 3,812 102,450

Debentures and bonds 6,680 56 139,714 246,263
Fixed Deposits 45,307 28,195 298,417 223,809
Government securities (including treasury bills) - - - 1,243
Collateralised lending, Reverse Repo and Tri-Party Repo 129,460 194,539 49,746 68,547
Securitised Debt - - - -
181,447 236,948 491,689 642,312
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of
Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments
made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the Schemes have paid management
fee at annualised average rate as follows:
Rupees in '000

Fund Fund
to to to to
Management fee (excluding GST) at annualised average rate 0.46% 0.49% 0.24% 0.15%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto
December 31, 2020) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged
is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
Rupees in '000
Axis Focused 25 AXIS FOCUSED 25 AXIS ARBITRAGE

Axis Arbitrage Fund
Fund FUND FUND
to to to to
- amount 9,863,912 9,964,280 (4,305,401) 6,283,501
- as a percentage of average daily net assets 8.20% 11.82% -15.36% 24.47%
- amount 1,860,349 1,463,791 164,590 147,907
264
Rupees in '000
Axis Dynamic Equity Axis Dynamic Equity Axis Equity Saver Axis Equity Saver
Fund Fund Fund Fund

Balance, beginning of year/period (563,453) (120,097) 5,146,328 636,663 (80,108) (69,902)
Net premium/discount on issue/redemption of units (682,836) (763,440) (723,835) 4,303,683 (192,274) (10,498)
Transferred (to) / from equalisation account 488,882 320,084 287,464 205,982 134,845 292
Balance, end of year/period (757,407) (563,453) 4,709,957 5,146,328 (137,537) (80,108)

Balance, beginning of year/period - 1,304,030 - 3,727,205 - 475,854
Net change in marked to market gain / loss in value of investments 1,195,024 (1,304,030) 14,660,583 (3,727,205) 743,580 (475,854)
Balance, end of year/period 1,195,024 - 14,660,583 - 743,580 -
Retained surplus
Balance, beginning of year / period 936,518 816,294 (3,342,637) (451,819) 1,029,378 1,075,797
Transferred (to) / from revenue account (46,973) (47,689) (15,237) (40,018) (201) (23,412)
Net Surplus / (Deficit) transferred from revenue account 1,506,044 167,913 11,165,337 (2,850,800) 760,167 (23,007)
Balance, end of year / period 2,395,589 936,518 7,807,463 (3,342,637) 1,789,344 1,029,378
Total reserves 2,833,206 373,065 27,178,003 1,803,691 2,395,387 949,270
RG Regular Growth 2,629,266 352,352 22,931,930 1,524,446 2,197,884 952,797

RD Regular IDCW 62,241 (7,877) 317,208 (114,068) 13,131 4,384
RM Regular Monthly IDCW - - - - 46,851 (31,962)
RQ Regular Quarterly IDCW - - - - 34,394 (12,790)
ZG Direct Growth 139,051 28,072 3,884,751 400,103 98,621 36,500
ZD Direct IDCW 2,648 518 44,114 (6,790) 561 328
ZM Direct Monthly IDCW - - - - 2,393 (61)
ZQ Direct Quarterly IDCW - - - - 1,552 74
2,833,206 373,065 27,178,003 1,803,691 2,395,387 949,270

- - - - - -
Amount due to AMC
- Management fees 9,338 7,454 54,120 23,865 6,262 1,695
- Lateral shift payable 14,980 29,993 26,841 71,064 12,156 9,628
- Others 35,868 18,608 117,228 93,399 5,830 10,423
Interscheme payable 2,313 5,981 - - 764 21
Contract for purchase of investments - 931,428 - 774,077 - 631,245
Registrar service fees payable 591 762 3,829 3,100 314 344
Dividend payable on units 3,048 4 117,618 8,593 2,736 2
MTM margin payable - 46,060 864 - - 53,349
Unit application pending allotment 6,534 2 10,104 1,155 2,045 2
Investor education expense payable 228 272 1,304 908 122 122
Unclaimed redemption & dividend 3,687 2,508 5,563 710 764 763
108,632 1,071,946 493,615 1,083,032 44,874 718,712
6. INVESTMENTS
Equity shares 9,163,750 10,273,462 72,905,326 40,803,071 4,881,582 4,575,991
Listed debentures and bonds 2,008,043 3,915,181 - 83,957 1,006,947 1,483,115
Government securities (including treasury bills) - - - - 136,928 59,626
INVESTMENTS 11,171,793 14,188,643 72,905,326 40,887,028 6,025,457 6,118,732
265
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund), as per clause 7
of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Rupees in '000
Fund Fund Fund Fund
Equity shares
- appreciation 1,282,462 541,300 15,022,384 1,470,826 761,500 146,245
- depreciation 108,419 1,724,750 358,486 8,668,745 70,695 1,203,824
- appreciation 38,494 29,695 - - 29,598 31,162
- depreciation - 8,651 - 3,725 481 12,556
Commercial paper
Future
- appreciation 14,016 1,617 - 81,996 34,609 19,403
- depreciation 31,529 66,893 3,316 - 7,173 85,519
Options
- appreciation - 562,437 - - - -
- depreciation - 12 - - - -
- appreciation - - - - 505 3,696
- depreciation - - - - 4,284 -
Rupees in '000
Fund Fund Fund Fund
to to to to to to

options)
Other - amount 15,658,010 40,360,458 60,639,519 82,969,658 7,060,029 10,654,187
Future - amount 38,152,119 64,753,855 12,748,205 22,117,841 20,894,124 22,296,220
Option - amount 247,058 34,287 - - - -
- as a percentage of average daily net assets 1.69% 0.16% - - - -
options)
Other - amount 23,374,595 28,995,115 55,461,828 57,030,311 9,808,148 9,548,729
Future - amount 36,353,879 60,192,977 14,442,983 20,243,785 20,082,342 22,864,686
Option - amount 420,269 52,866 - - - -
- as a percentage of average daily net assets 2.88% 0.25% - - - -
- - -
Rupees in '000
Fund Fund Fund Fund
faith 1,693,614 3,303,916 - 83,957 911,484 1,430,305
266
Rupees in '000
Fund Fund Fund Fund
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) 740,500 540,100 742,500 1,104,600 570,100 712,100
740,500 540,100 742,500 1,104,600 570,100 712,100

- Lateral shift receivable 214 14,362 2,048 46,830 417 6,110
- Others 150 20 - 15,049 6 797
Interscheme receivable - - 460 12,158 - -
Contracts for sale of investments - - - 472,455 - -
Outstanding and accrued income 79,521 114,063 4,897 6,438 32,669 65,899
Margin deposit with Clearing Corporation of India Limited 9,900 - 15,800 - 4,400 -
MTM margin receivable 26,469 - - 52,658 21,247 -
Reverse Repo and Tri-Party Repo 1,414,269 917,891 3,116,324 8,981,586 641,838 608,331
Options - 590,517 - - - -
Unclaimed redemption & dividend (Invested in TREPS) 3,687 2,508 5,563 710 764 763
Other current assets - 2 54 - 5 -
1,559,132 1,655,079 3,188,382 9,685,455 708,809 684,893
to to to to to to
9. INTEREST
Money market instruments 1,327 19,193 - 2,689 - -

Debentures and bonds 236,719 187,428 2,963 53,731 93,020 141,201
Fixed Deposits 29,212 86,089 27,928 22,158 23,633 31,978
Government securities (including treasury bills) - 9,363 - 2,974 14,763 12,597
Securitised Debt - - - - - 559
283,030 439,392 143,324 408,177 139,593 197,424
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding
the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended
March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:
Fund Fund Fund Fund
to to to to to to

Rupees in '000
Fund Fund Fund Fund
to to to to to to
- amount 1,640,920 1,561,169 5,616,190 5,493,995 (33,037) 1,313,759
- as a percentage of average daily net assets 11.27% 7.47% 8.56% 12.05% -0.48% 16.91%
- amount 304,653 407,914 1,147,976 843,324 160,453 180,799
267
Rupees in '000
AXIS SMALL CAP AXIS SMALL AXIS CHILDREN'S AXIS CHILDREN'S AXIS TRIPLE AXIS TRIPLE
FUND CAP FUND GIFT FUND GIFT FUND ADVANTAGE FUND ADVANTAGE FUND

Balance, beginning of year/period 5,178,657 (47,662) 152,940 115,250 (247,296) (231,899)
Net premium/discount on issue/redemption of units 6,408,859 14,646,980 43,625 61,833 2,908,433 21,179
Transferred (to) / from equalisation account (2,948,839) (9,420,661) (15,916) (24,143) (2,358,625) (36,576)
Balance, end of year/period 8,638,677 5,178,657 180,649 152,940 302,512 (247,296)

Balance, beginning of year/period - 367,202 - 464,844 - 364,009
Net change in marked to market gain / loss in value of investments 11,662,758 (367,202) 1,434,381 (464,844) 1,304,508 (364,009)
Balance, end of year/period 11,662,758 - 1,434,381 - 1,304,508 -
Retained surplus
Balance, beginning of year / period 5,958,476 1,528,673 362,413 345,118 1,316,819 1,180,509
Transferred (to) / from revenue account (63,008) (126,483) - - (37,801) (12,624)
Net Surplus / (Deficit) transferred from revenue account 8,733,420 4,556,286 401,762 17,295 2,724,341 148,934
Balance, end of year / period 14,628,888 5,958,476 764,175 362,413 4,003,359 1,316,819
Total reserves 34,930,323 11,137,133 2,379,205 515,353 5,610,379 1,069,523
RG Regular Growth 21,017,561 6,996,070 - - 5,116,132 945,605

RD Regular IDCW 352,759 169,608 - - 282,582 70,869
RM Regular Monthly IDCW - - - - -
RQ Regular Quarterly IDCW - - - - -
RG Compulsory Lock-in Regular Growth - - 1,841,290 386,541 - -
RD Compulsory Lock-in Regular IDCW - - 8,483 1,835 - -
FG No Lock-in Regular Growth - - 474,484 112,792 - -
FD No Lock-in Regular IDCW - - 10,713 2,547 - -
ZG Direct Growth 13,445,528 3,926,423 - - 202,371 50,132
ZD Direct IDCW 114,475 45,032 - - 9,294 2,917
ZM Direct Monthly IDCW - - - - -
ZQ Direct Quarterly IDCW - - - - -
ZG Compulsory Lock-in Direct Growth - - 22,077 - - -
ZD Compulsory Lock-in Direct IDCW - - 173 5,070 - -
DG No Lock-in Direct Growth - - 21,227 47 - -
AAD No Lock-in Direct IDCW - - 758 6,299 - -
34,930,323 11,137,133 2,379,205 515,353 5,610,379 1,069,523

- - - - - -
Amount due to AMC
- Management fees 26,996 - 8,224 14,983 - 10,046
- Lateral shift payable 12,553 39,008 404 30 4,295 1,950
- Others 86,453 88,702 4,397 666 17,965 12,306
Interscheme payable 11,672 - - 988 1,606 1,400
Contract for purchase of investments - - 17,623 - 91,632 -
Registrar service fees payable 2,013 1,170 264 209 277 103
Dividend payable on units 48,864 1,636 - - 241 327
Unit application pending allotment 6,332 1,069 882 - 2,637 -
Unclaimed redemption & dividend 3,382 3,398 458 402 3,891 3,368
272,832 171,544 42,385 23,927 141,043 34,409
6. INVESTMENTS
Equity shares 41,194,159 16,977,850 4,264,671 2,428,755 6,691,164 1,637,107
Units of mutual fund - - - - 936,516 445,014
Listed debentures and bonds - - 607,980 830,240 560,892 271,468
Government securities (including treasury bills) - - 750,336 198,016 303,489 2,308
INVESTMENTS 41,194,159 16,977,850 5,622,987 3,457,011 8,492,061 2,355,897
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund), as per
clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
268
Equity shares
- appreciation 12,527,149 363,605 1,431,246 183,020 1,313,821 51,428
- depreciation 864,391 5,727,982 2,138 475,191 22,101 440,238
- appreciation - - - - 4,127 96,435
- appreciation - - 11,723 6,395 16,421 10,683
- depreciation - - - 5,876 453 349
Commercial paper
Future
- depreciation - - - - 904 -
Options
- appreciation - - 108 2,813 121 176
- depreciation - - 6,557 688 6,524 -
Rupees in '000
to to to to to to

options)
Other - amount 12,714,179 22,134,164 4,593,992 3,969,734 7,177,864 2,821,329
Future - amount - 506,457 1,102,528 52,547 1,441,897 -
- as a percentage of average daily net assets - 4.57% 22.65% 1.21% 27.57% -
options)
Other - amount 6,114,185 2,065,051 3,344,072 2,986,376 2,578,955 2,842,060
Future - amount - 607,240 1,074,052 56,101 1,353,997 -
- as a percentage of average daily net assets - 5.47% 22.07% 1.30% 25.89% -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2020 in companies which
have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
faith - - 607,980 524,485 510,648 216,617
269
Rupees in '000
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) 98,200 102,500 24,550 - 61,375 -
98,200 102,500 24,550 - 61,375 -

- Lateral shift receivable 3,828 4,037 (6) - 214 712
- Others 3,165 1,367 371 40 109 3
Interscheme receivable - 5,390 657 - - -
Contracts for sale of investments - 10,588 - 60,307 - 107,306
Outstanding and accrued income 1,258 860 22,690 33,418 25,290 11,071
Margin deposit with Clearing Corporation of India Limited 28,600 - 5,800 5,000 32,300 27,500
Amount due from AMC - 11,566 - - - -
MTM margin receivable - - - - 419 -
Reverse Repo and Tri-Party Repo 3,823,301 1,836,193 112,100 251,565 843,674 104,312
Options - - - - - -
Unclaimed redemption & dividend (Invested in TREPS) 3,382 3,398 458 402 3,891 3,368
Other current assets 219 32 25 - 9 -
3,935,832 1,921,157 146,610 354,105 922,600 257,961
to to to to to to
9. INTEREST
Money market instruments - - - 3,157 - 1,319

Debentures and bonds - - 53,641 79,598 28,547 20,468
Fixed Deposits 6,423 6,171 1,686 643 2,362 79
71,624 86,916 88,627 100,864 56,303 34,027
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets,
after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable.
During the year ended March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:
to to to to to to
to to to to to to
- amount 846,246 706,018 215,393 383,741 198,815 457,756
- amount 424,277 194,213 119,074 101,063 114,965 63,532
270
Rupees in '000
AXIS EQUITY AXIS EQUITY AXIS GROWTH AXIS GROWTH
HYBRID FUND HYBRID FUND OPPORTUNITIES FUND OPPORTUNITIES FUND

Balance, beginning of year/period (4,093) (4,061) (337,380) (3,178) 437,687 (2,475)
Net premium/discount on issue/redemption of units 178,242 82 (576,882) (389,641) 2,613,432 435,663
Transferred (to) / from equalisation account (167,148) (114) 277,052 55,439 31,749 4,499
Balance, end of year/period 7,001 (4,093) (637,210) (337,380) 3,082,868 437,687

Balance, beginning of year/period - 13,024 - 460,879 - 368,169
Net change in marked to market gain / loss in value of investments 87,885 (13,024) 1,821,415 (460,879) 5,908,986 (368,169)
Balance, end of year/period 87,885 - 1,821,415 - 5,908,986 -
Retained surplus
Balance, beginning of year / period 53,139 58,614 (1,186,809) (289,570) (965,341) 52,435
Transferred (to) / from revenue account - - - - - -
Net Surplus / (Deficit) transferred from revenue account 183,605 (5,475) 3,690,679 (897,239) 1,975,740 (1,017,776)
Balance, end of year / period 236,744 53,139 2,503,870 (1,186,809) 1,010,399 (965,341)
Total reserves 331,630 49,046 3,688,075 (1,524,189) 10,002,253 (527,654)
RG Regular Growth - - 3,450,381 (1,432,378) 8,773,748 (486,690)

RD Regular IDCW - - 25,009 (24,088) 84,716 (17,466)
RM Regular Monthly IDCW - - 43,501 (30,793) - -
RQ Regular Quarterly IDCW - - 14,586 (8,116) - -
G Axis Nifty ETF 331,630 49,046 - - - -
ZG Direct Growth - - 146,808 (26,879) 1,134,551 (23,180)
ZD Direct IDCW - - 2,934 (759) 9,238 (318)
ZM Direct Monthly IDCW - - 2,534 (621) -
ZQ Direct Quarterly IDCW - - 2,322 (555) -
331,630 49,046 3,688,075 (1,524,189) 10,002,253 (527,654)

- - - - - -
Amount due to AMC
- Management fees 37 - 8,950 20,761 5,380 17,952
Trusteeship fee payable # # 6 5 10 3
- Lateral shift payable - - 3,805 19,107 7,345 48,503
- Others - 1 21,432 6,950 117,990 19,301
Interscheme payable - - 7,582 3,794 - -
Contract for purchase of investments 1,491 - - 56,507 - 109,839
Registrar service fees payable 7 1 697 679 1,244 503
Dividend payable on units - - 13,914 5 22,433 -
Unit application pending allotment - - 2,794 11 11,704 3
Commission to distributors payable - - 23,725 22,659 47,662 19,590
Unclaimed redemption & dividend - - 2,014 411 595 32
Other current liabilities 36 26 6,783 2,281 16,198 1,502
# Amount less than Rs. 0.5 thousand 1,582 34 92,106 133,826 231,123 217,727
6. INVESTMENTS
Equity shares 353,744 54,755 11,921,120 8,464,487 19,946,059 6,238,462
Listed debentures and bonds - - 3,151,668 4,319,375 - -
International equities - - - - 4,928,813 1,675,987
American depository receipt - - - - 914,931 421,829
353,744 54,755 15,072,788 12,783,862 25,789,803 8,336,278
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund), as per clause 7
of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
271

Equity shares
- appreciation 89,393 6,291 1,939,624 167,159 5,062,279 306,916
- depreciation 1,508 13,907 152,322 2,794,882 37,144 1,431,960
- appreciation - - 53,723 60,117 - -
- depreciation - - 19,610 28,898 - -
Commercial paper
- appreciation - - - - 862,107 56,087
- depreciation - - - - 11,319 106,628
- appreciation - - - - 39,325 29,695
- depreciation - - - - 6,263 15,780
Future
Options
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average daily net assets are as follows: Rupees in '000
to to to to to to

options)
Other - amount 242,274 10,940 11,627,201 21,922,663 17,346,882 9,866,010
Future - amount - - 3,482,532 - - -
- as a percentage of average daily net assets - - 22.20% - - -
options)
Other - amount 45,176 9,663 15,088,210 26,157,410 8,038,901 6,698,197
Future - amount - - 3,405,868 - - -
- as a percentage of average daily net assets - - 21.71% - - -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2020 in companies which have invested
in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
faith - - 1,997,755 3,808,028 - -
272
Rupees in '000

7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) - - 85,925 - - -

- - 85,925 - - -

Balances with banks in current accounts 50 29 9,017 8,993 36,885 18,934
- Lateral shift receivable - - 19 9,941 1,915 47,152
- Others - - 125 149 103 3,034
Interscheme receivable - - - - 1,338 509
Contracts for sale of investments 2,333 - - 252,015 - -
Outstanding and accrued income 65 - 104,251 159,429 5,079 1,242
Margin deposit with Clearing Corporation of India Limited 100 - 6,300 - 7,600 -
Amount due from AMC - 8 - - - -
MTM margin receivable - - - - - -
Reverse Repo and Tri-Party Repo 140 508 706,982 284,584 1,090,557 885,345
Options - - - - - -
Unclaimed redemption & dividend (Invested in TREPS) - - 2,014 411 595 32
Other current assets - - - - 16 -
2,688 545 828,708 715,522 1,144,088 956,248
to to to to to to
9. INTEREST
Money market instruments - - 484 22,008 - -

Debentures and bonds - - 294,336 378,694 - -
Fixed Deposits - - 4,890 6,374 670 288
Government securities (including treasury bills) - - - 357 - -
Collateralised lending, Reverse Repo and Tri-Party Repo 38 16 11,801 23,907 19,952 18,716
38 16 311,511 431,340 20,622 19,004
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding
the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended
March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:

to to to to to to
Management fee (excluding GST) at annualised average rate 0.04% - 0.58% 0.51% 0.44% 0.55%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is
apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
Rupees in '000
to to to to to to
- amount 9,112 2,082 1,723,620 2,142,284 1,201,613 341,527
- amount 271 54 328,107 385,644 328,809 193,132
273
Rupees in '000
AXIS NIFTY 100 INDEX AXIS NIFTY 100 INDEX AXIS RETIREMENT SAVINGS AXIS RETIREMENT SAVINGS
FUND FUND FUND - AGGRESSIVE PLAN FUND - AGGRESSIVE PLAN

Balance, beginning of year/period (27,897) - (2,564) -
Net premium/discount on issue/redemption of units (54,868) (110,017) (5,541) (5,587)
Transferred (to) / from equalisation account 91,642 82,120 12,762 3,023
Balance, end of year/period 8,877 (27,897) 4,657 (2,564)

Balance, beginning of year/period - - - -
Net change in marked to market gain / loss in value of investments 837,550 - 916,424 -
Balance, end of year/period 837,550 - 916,424 -
Retained surplus
Balance, beginning of year / period (880,529) - (725,359) -
Transferred (to) / from revenue account - - - -
Net Surplus / (Deficit) transferred from revenue account 847,463 (880,529) 741,904 (725,359)
Balance, end of year / period (33,066) (880,529) 16,545 (725,359)
Total reserves 813,361 (908,426) 937,626 (727,923)
RG Regular Growth 477,965 (789,037) 887,250 (700,743)

RD Regular IDCW 7,681 (14,295) 18,575 (13,259)
ZG Direct Growth 324,015 (102,673) 31,384 (13,836)
ZD Direct IDCW 3,700 (2,421) 417 (85)
813,361 (908,426) 937,626 (727,923)

- - - -
Amount due to AMC
- Management fees 1,836 520 4,282 -
- Lateral shift payable 4,908 7,512 1,363 451
- Others 11,044 4,037 681 911
Interscheme payable - - 153 1,707
Contract for purchase of investments 81,429 - - 54,132
Registrar service fees payable 176 133 252 206
Dividend payable on units - - - -
MTM margin payable - - - -
Unit application pending allotment 778 20 76 56
Investor education expense payable 66 46 98 72
Unclaimed redemption & dividend 88 - - -
Other current liabilities 1,025 336 1,653 390
103,017 15,175 17,446 66,355
6. INVESTMENTS
Equity shares 3,988,667 2,595,055 4,600,789 2,599,669
Listed debentures and bonds - - 760,294 780,384
Certificate of deposit - - - -
Commercial paper - - - -
Government securities (including treasury bills) - - 96,566 387,741
INVESTMENTS 3,988,667 2,595,055 5,457,649 3,767,794
274
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund),
as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Equity shares
- appreciation 877,322 25,058 982,807 64,477
- depreciation 39,771 860,606 86,961 816,284
- appreciation - - 24,586 15,629
- depreciation - - 523 -
Commercial paper
Future
Options
- depreciation - - 3,485 427
Rupees in '000
April 01, 2020 October 18, 2019 April 01, 2020 December 20, 2019
to to to to

options)
Other - amount 1,105,166 4,595,874 2,245,664 5,361,379
Future - amount - - - -
options)
Other - amount 1,470,363 1,196,296 2,230,780 854,661
Future - amount - - - -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2020 in companies
Rupees in '000
faith - - 760,293 362,072
275
Rupees in '000
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) - - - -

- - - -

Balances with banks in current accounts 6,592 6,999 863 1,429
- Lateral shift receivable - 3,335 60 129
- Others 53 3,417 500 23
Interscheme receivable 31 - - -
Contracts for sale of investments 36,446 - - -
Outstanding and accrued income 863 73 37,806 48,979
Amount due from AMC - - - 846
MTM margin receivable - - - -
Cash margin money placed for derivatives - - - -
Reverse Repo and Tri-Party Repo 68,275 79,472 198,115 235,586
Options - - - -
Unclaimed redemption & dividend (Invested in TREPS) 88 - - -
Other current assets 1 - 2 6
113,549 93,296 238,546 286,998
to to to to
9. INTEREST
Money market instruments - - - -

Debentures and bonds - - 65,541 12,250
Fixed Deposits - - - -
Government securities (including treasury bills) - - 24,841 3,682
1,336 5,252 95,104 33,079
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets,
after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as
applicable. During the year ended March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:
to to to to
(excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on
average net assets of all the schemes.

Rupees in '000
to to to to
- amount 131,958 53,087 130,442 44,838
- amount 28,401 15,948 112,381 30,569
276
Rupees in '000
FUND - CONSERVATIVE PLAN FUND - CONSERVATIVE PLAN FUND - DYNAMIC PLAN FUND - DYNAMIC PLAN

Balance, beginning of year/period (1,956) - (3,790) -
Net premium/discount on issue/redemption of units (10,472) (2,681) (26,476) (2,110)
Transferred (to) / from equalisation account 7,647 725 2,262 (1,680)
Balance, end of year/period (4,781) (1,956) (28,004) (3,790)

Net change in marked to market gain / loss in value of investments 46,304 - 430,157 -
Balance, end of year/period 46,304 - 430,157 -
Retained surplus
Balance, beginning of year / period (45,478) - (229,988) -
Net Surplus / (Deficit) transferred from revenue account 139,446 (45,478) 266,636 (229,988)
Balance, end of year / period 93,968 (45,478) 36,648 (229,988)
Total reserves 135,491 (47,434) 438,801 (233,778)
RG Regular Growth 128,063 (46,048) 419,814 (226,168)

RD Regular IDCW 2,607 (927) 8,126 (4,837)
ZG Direct Growth 4,767 (453) 10,671 (2,694)
ZD Direct IDCW 54 (6) 190 (79)
135,491 (47,434) 438,801 (233,778)

- - - -
Amount due to AMC
- Management fees 1,048 121 2,588 -
Trusteeship fee payable # # 1 1
- Lateral shift payable - - 72 1,261
- Others 332 90 2,604 712
Interscheme payable 419 3,845 - -
Contract for purchase of investments - 97,573 - 54,197
MTM margin payable - - - 15,527
Unit application pending allotment 255 - 18 -
Unclaimed redemption & dividend - - - -
Other current liabilities 640 57 305 384
# Amount less than Rs. 0.5 thousand 4,463 103,592 9,862 77,216
6. INVESTMENTS
Equity shares 370,507 258,833 2,109,689 1,321,833
Listed debentures and bonds 327,479 462,655 211,640 364,283
Government securities (including treasury bills) 148,086 147,244 - 83,836
INVESTMENTS 846,072 868,732 2,321,329 1,769,952
277
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund), as per clause
7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Equity shares
- appreciation 41,901 6,070 462,138 28,739
- depreciation 7,888 77,206 33,694 363,114
- appreciation 12,280 12,893 5,514 7,377
- depreciation - - 523 -
Commercial paper
Future
- appreciation - - - 3,024
- depreciation - - - 8,260
Options
- depreciation - - 3,278 -
- appreciation 11 879 - 41
- depreciation - 78 - -
April 01, 2020 December 20, 2019 April 01, 2020 December 20, 2019
to to to to

options)
Other - amount 1,663,114 1,501,279 1,493,456 2,354,509
Future - amount - - 1,282,935 -
- as a percentage of average daily net assets - - 52.58% -
Option - amount - - 103,608 -
options)
Other - amount 1,742,122 576,439 1,780,743 257,100
Future - amount - - 835,353 -
Option - amount - - 3,263 -
Rupees in '000
faith 327,479 185,081 211,640 204,015
278
Rupees in '000
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) - - - 154,100

- - - 154,100

Balances with banks in current accounts 767 1,716 714 499
- Lateral shift receivable 3,235 1 - 1
- Others - 12 - 3
Interscheme receivable - - 396 5,553
Contracts for sale of investments - 52,802 - 52,767
Amount due from AMC - - - 743
Cash margin money placed for derivatives - - - -
Options - - 12,995 -
Unclaimed redemption & dividend (Invested in TREPS) - - - -
Other current assets - 2 - 6
188,200 243,460 257,961 423,921
to to to to
9. INTEREST

Debentures and bonds 31,829 9,478 24,501 5,977
Fixed Deposits - - 1,226 571
Government securities (including treasury bills) 12,483 2,018 11,507 1,436
46,088 16,420 41,274 23,367
excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable.
During the year ended March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:
to to to to
to to to to
- amount 110,599 19,519 (6,844) 117,885
- as a percentage of average daily net assets 10.78% 6.04% -0.28% 16.00%
- amount 20,948 6,830 56,451 17,360
279
Rupees in '000
Axis Global Equity Axis Greater China AXIS
Axis Special
AXIS ESG EQUITY FUND AXIS ESG EQUITY FUND Alpha Fund of Axis Banking ETF Equity Fund of Technology
Situations Fund
Fund Fund ETF

Balance, beginning of year/period 1,598 - - - - - -
Net premium/discount on issue/redemption of units (585,531) 26,276 (20,876) 129,333 2,004 (13,625) 285,982
Transferred (to) / from equalisation account 88,993 (24,678) 3,866 (182,326) 1,106 13,603 (285,982)
Balance, end of year/period (494,940) 1,598 (17,010) (52,993) 3,110 (22) -

Balance, beginning of year/period - - - - - - -
Net change in marked to market gain / loss in value of investments 4,127,419 - 1,971,269 88,839 766,012 - 5,299
Balance, end of year/period 4,127,419 - 1,971,269 88,839 766,012 - 5,299
Retained surplus
Balance, beginning of year / period (1,684,778) - - - - - -
Transferred (to) / from revenue account - - - - - - -
Net Surplus / (Deficit) transferred from revenue account 3,076,983 (1,684,778) (67,919) 271,193 (33,849) (44,962) 282,438
Balance, end of year / period 1,392,205 (1,684,778) (67,919) 271,193 (33,849) (44,962) 282,438
Total reserves 5,024,684 (1,683,180) 1,886,340 307,039 735,273 (44,984) 287,737
RG Regular Growth 4,796,082 (1,640,366) 1,704,592 - 705,042 (22,177) -

RD Regular IDCW 63,486 (24,041) 25,823 - 4,944 (266) -
RM Regular Monthly IDCW - - - - - - -
RQ Regular Quarterly IDCW - - - - - - -
G Axis Nifty ETF - - - - - - -
G Axis Banking ETF - - - 307,039 - - -
G Axis Technology ETF - - - - - - 287,737
RG Compulsory Lock-in Regular Growth - - - - - - -
RD Compulsory Lock-in Regular IDCW - - - - - - -
FG No Lock-in Regular Growth - - - - - - -
FD No Lock-in Regular IDCW - - - - - - -
ZG Direct Growth 162,506 (18,338) 153,251 - 24,830 (22,482) -
ZD Direct IDCW 2,610 (435) 2,674 - 457 (59) -
ZM Direct Monthly IDCW - - - - - - -
ZQ Direct Quarterly IDCW - - - - - - -
ZG Compulsory Lock-in Direct Growth - - - - - - -
ZD Compulsory Lock-in Direct IDCW - - - - - - -
DG No Lock-in Direct Growth - - - - - - -
AAD No Lock-in Direct IDCW - - - - - - -
5,024,684 (1,683,180) 1,886,340 307,039 735,273 (44,984) 287,737

- - - - - - -
Amount due to AMC
- Management fees 7,703 1,529 4,871 125 5,783 30 11
Trusteeship fee payable 8 5 5 # 9 # #
- Lateral shift payable 21,736 2,422 2,378 - 2,890 20 -
- Others 62,078 19,427 38,570 - 41,561 1,050 1
Interscheme payable - 5,190 164 - 5,898 1,801 -
Contract for purchase of investments - - - 3,499 74,794 - 34,737
Audit fee payable 284 278 65 3 52 4 3
Registrar service fees payable 846 749 595 9 985 17 2
Dividend payable on units - - - - - - -
MTM margin payable - - - - - - -
Unit application pending allotment 2,718 5 1,394 - 3,112 37 -
Commission to distributors payable 32,364 22,597 15,122 - 34,045 210 -
Custody fees payable 142 214 43 2 100 33 #
Investor education expense payable 328 274 230 8 394 6 2
Unclaimed redemption & dividend 1,010 - 535 - - - -
Other current liabilities 7,780 1,453 2,988 17 2,899 89 27
# Amount less than Rs. 0.5 thousand 136,997 54,143 66,960 3,663 172,522 3,297 34,783
6. INVESTMENTS
Equity shares 13,595,669 10,677,739 - 418,624 15,812,347 - 454,225
Units of mutual fund - - 13,700,141 - - 424,015 -
Listed debentures and bonds - - - - - - -
Certificate of deposit - - - - - - -
Commercial paper - - - - - - -
International equities 3,107,373 1,977,493 - - 4,874,928 - -
American depository receipt 1,866,441 1,227,811 - - 497,626 - -
Government securities (including treasury bills) - - - - - - -
INVESTMENTS 18,569,483 13,883,043 13,700,141 418,624 21,184,901 424,015 454,225
280
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-Party Repo which were held in the name of the fund), as per clause 7 of the
Axis Special
Situations Fund
Fund Fund ETF
Equity shares
- appreciation 3,024,453 212,837 - 88,900 998,616 - 6,117
- depreciation - 1,780,247 - 61 196,785 - 818
- appreciation - - 1,971,269 - - - -
- depreciation - - - - - 32,465 -
- appreciation - - - - - - -
- depreciation - - - - - - -
Commercial paper
- appreciation 726,038 27,640 - - 155,699 - -
- depreciation 18,162 190,058 - - 151,768 - -
- appreciation 403,829 32,153 - - - - -
- depreciation 8,739 52,096 - - - - -
Future
Options
Axis Special
Situations Fund
Fund Fund ETF

options)
Other - amount 7,647,903 15,632,814 11,728,871 808,328 21,528,561 456,480 490,117
- as a percentage of average daily net assets 42.70% 94.12% 90.42% 141.06% 94.34% 131.18% 105.85%
Future - amount - - - - - - -
- as a percentage of average daily net assets - - - - - - -
Option - amount - - - - - - -
options)
Other - amount 10,431,755 - - 567,396 1,122,942 - 37,545
- as a percentage of average daily net assets 58.24% - - 99.02% 4.92% - 8.11%
Future - amount - - - - - - -
Option - amount - - - - - - -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2020 in companies which have invested in any
Rupees in '000
Axis Special
Situations Fund
Fund Fund ETF
faith - - - - - - -
281
Rupees in '000
Axis Special
Situations Fund
Fund Fund ETF
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) - - - - - - -

- - - - - - -

Balances with banks in current accounts 25,793 10,060 8,223 1 9,316 12,140 4
- Lateral shift receivable 179 761 424 - 437 10 (1)
- Others 326 14 231 - 1,035 - 1
Interscheme receivable 324 - - - - - -
Contracts for sale of investments 81,461 - - 23,693 - - 37,545
Outstanding and accrued income 1,277 1,174 - - 1,005 - -
Margin deposit with Clearing Corporation of India Limited 3,100 - 1,300 100 12,800 300 2,600
Amount due from AMC - - - - - - -
MTM margin receivable - - - - - - -
Cash margin money placed for derivatives - - - - - - -
Reverse Repo and Tri-Party Repo 486,944 1,698,680 191,948 112 1,839,947 8,542 9,715
Options - - - - - - -
Unclaimed redemption & dividend (Invested in TREPS) 1,010 - 535 - - - -
Other current assets 2 - 1 - 57 - -
600,416 1,710,689 202,662 23,906 1,864,597 20,992 49,864
9. INTEREST
Money market instruments - - - - - - -

Debentures and bonds - - - - - - -
Fixed Deposits - - - - 179 - -
Government securities (including treasury bills) - - - - - - -
Collateralised lending, Reverse Repo and Tri-Party Repo 15,143 72,023 30,337 380 57,942 617 121
Securitised Debt - - - - - - -
15,143 72,023 30,337 380 58,121 617 121
value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the Schemes
have paid management fee at annualised average rate as follows:

Axis Special
Situations Fund
Fund Fund ETF
Management fee (excluding GST) at annualised average rate 0.28% 0.24% 0.27% 0.09% 0.28% 0.15% 0.11%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is apportioned to
all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
Axis Special
Situations Fund
Fund Fund ETF
- amount 1,776,495 93,570 40,744 89,233 94,482 1,623 (3,525)
- as a percentage of average daily net assets 9.95% 4.21% 0.61% 38.25% 1.55% 3.41% -39.80%
- amount 360,290 53,255 104,797 366 121,137 517 19
- as a percentage of average daily net assets 2.02% 2.40% 1.56% 0.16% 1.98% 1.09% 0.21%
282

(i) The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on

Axis Asset Management Company Limited The Scheme's asset manager
Axis Securities Limited Group Company


283

Rupees in '000
AXIS BLUECHIP FUND

Fees for investment management services (including
Axis Asset Management Company Limited GST) 714,187 423,578 112,386 -
Axis Asset Management Company Limited Subscription of units at NAV (in units) - - 260,146 7,362
Axis Asset Management Company Limited Redemption of units at NAV (in units) - - - -
Axis Bank Limited Subscription of units at NAV (in units) 22,037 3,697 37,478 8,772
Axis Bank Limited Redemption of units at NAV (in units) 512,633 50 - -
Axis Securities Limited Subscription of units at NAV (in units) 836,826 76 10,998 1
Axis Securities Limited Redemption of units at NAV (in units) 926,395 74 - -

Axis Asset Management Company Limited GST) 645,876 489,713 68,169 80,919
Axis Bank Limited Subscription of units at NAV (in units) 116,385 - 6,483 -
Axis Bank Limited Redemption of units at NAV (in units) 523,309 - - -
Axis Flexicap Fund

Axis Bank Limited Subscription of units at NAV (in units) 42,158 - - -
Axis Securities Limited Subscription of units at NAV (in units) 158,869 254 103 4
AXISSCF
AXIS SMALL CAP FUND
Axis Asset Management Company Limited Fees for investment management services (including GST) 87,291 43,537 26,996 -
Axis Bank Limited Subscription of units at NAV (in units) 48,042 - - -
Axis Securities Limited Subscription of units at NAV (in units) 47,180 - 25 -
Axis Securities Limited Redemption of units at NAV (in units) 51,072 - - -
AXISNETF
AXIS NIFTY ETF
Axis Mutual Fund Trustee Limited Fees for trusteeship services 1 # # #
Axis Asset Management Company Limited Fees for investment management services (including GST) 105 - 37 (7)
Axis Asset Management Company Limited Receivable for other expenses - - - (8)
Axis Securities Limited Subscription of units at NAV (in units) - - - -
Axis Securities Limited Redemption of units at NAV (in units) - - - -
Axis Asset Management Company Limited Subscription of units at NAV (in units) - - - 2,057
AXISNIF
284
Rupees in '000
AXIS NIFTY 100 INDEX FUND
Axis Mutual Fund Trustee Limited Fees for trusteeship services 14 - 2 1
Axis Asset Management Company Limited Fees for investment management services (including GST) 3,735 - 1,836 520
Axis Securities Limited Subscription of units at NAV (in units) 78,253 - - -
Axis Bank Limited Purchase of Security - - - -
AXISRDP
AXIS RETIREMENT SAVINGS FUND - DYNAMIC PLAN

Axis Asset Management Company Limited Receivable for other expenses - - - 743
Axis Asset Management Company Limited Subscription of units at NAV (in units) - 5,000 500,000 4,555
Axis Bank Limited Purchase of Security - 149,441 - -

Axis Asset Management Company Limited GST) 1,664,415 1,550,962 114,403 104,748
Axis Bank Limited Subscription of units at NAV (in units) 35,604 - 5,000 -
Axis Securities Limited Subscription of units at NAV (in units) 197,034 - 6,354 -
Axis Arbitrage Fund

Axis Asset Management Company Limited GST) 62,697 46,676 7,020 32
Axis Bank Limited Subscription of units at NAV (in units) 199,003 - - 55
Axis Securities Limited Subscription of units at NAV (in units) 4,824 79 1 #

Axis Bank Limited Subscription of units at NAV (in units) - - - -
Axis Bank Limited Redemption of units at NAV (in units) - - - -
285
AXISCGF Rupees in '000

AXIS CHILDREN'S GIFT FUND
Axis Securities Limited Subscription of units at NAV (in units) - - - -
Axis Securities Limited Redemption of units at NAV (in units) - - - -
AXISEHF
AXIS EQUITY HYBRID FUND
Axis Asset Management Company Limited Payable for other expenses - -
AXISRAP
AXIS RETIREMENT SAVINGS FUND - AGGRESSIVE PLAN
Axis Asset Management Company Limited Receivable for other expenses - - - 846
Axis Asset Management Company Limited Payable for other expenses - - -
AXISESG
AXIS ESG EQUITY FUND
Axis Midcap Fund

Axis Bank Limited Subscription of units at NAV (in units) 11,767 - 115 -

Axis Securities Limited Subscription of units at NAV (in units) 23,278 - - 10
Axis Securities Limited Redemption of units at NAV (in units) 23,278 - - 10
286
Rupees in '000
AXISTAF
AXIS TRIPLE ADVANTAGE FUND
Axis Asset Management Company Limited Fees for investment management services (including GST) 50,015 40,610 - 10,046
Axis Bank Limited Subscription of units at NAV (in units) 45 - - -
Axis Bank Limited Redemption of units at NAV (in units) 45 - - -
AXISGOF
AXIS GROWTH OPPORTUNITIES FUND
Axis Asset Management Company Limited Payable for other expenses - - -
Axis Securities Limited Subscription of units at NAV (in units) 60,559 1,219 - 11
Axis Securities Limited Redemption of units at NAV (in units) 62,615 1,208 - 11
AXISRCp
AXIS RETIREMENT SAVINGS FUND - CONSERVATIVE PLAN
AXISGEA AXISBETF
Axis Global Equity Alpha Fund of Fund Axis Banking ETF
Year ended Balance as at Year ended Balance as at
Axis Asset Management Company Limited Fees for investment management services (including GST) 21,650 4,871 234 125
Axis Asset Management Company Limited Subscription of units at NAV (in units) 499,975 499,975 - -
Axis Special Situations Fund Axis Greater China Equity Fund of Fund
Year ended Balance as at Year ended Balance as at
Axis Asset Management Company Limited Subscription of units at NAV (in units) 499,975 499,975 319,984 319,984
AXIS Technology ETF

Year ended Balance as at
Name of related party Nature of transactions March 31, 2021 March 31, 2021
Axis Mutual Fund Trustee Limited Fees for trusteeship services # #
Axis Asset Management Company Limited Fees for investment management services (including GST) 12 11
Axis Asset Management Company Limited Receivable for other expenses - -
Axis Asset Management Company Limited Payable for other expenses - -
Axis Asset Management Company Limited Subscription of units at NAV (in units) - -
Axis Securities Limited Subscription of units at NAV (in units) - -
Axis Securities Limited Redemption of units at NAV (in units) - -
Axis Bank Limited Purchase of Security - -
287
(iii) Transactions covered by Regulation 25(8) of the SEBI Regulation with the sponsor, associates, employees or their relatives of AMC:
Rupees in '000
Name of sponsor, associates, employees or their
relatives of AMC (Nature of relation) Axis Long Term Equity
AXIS BLUECHIP FUND AXIS BLUECHIP FUND Axis Long Term Equity Fund Axis Midcap Fund Axis Midcap Fund
Fund
Professional clearing member charges 1,764 1,539 - - 167 255
Bank charges 3,046 1,344 1,960 1,570 718 593
Commission paid on distribution of units * 263,905 179,999 495,275 594,086 53,201 34,981

Employee)
Commission paid on distribution of units - 9 - 45 - 10

Employee)
Commission paid on distribution of units - # - # - #
Mr. Sunil P Shah (Relative of AMC Employee)

Commission paid on distribution of units - - # # - -
Mrs. Urvi Mahendra Dedhia (Relative of AMC

Employee)
Commission paid on distribution of units - - - - - -
Brokerage on trades 4,460 3,253 4,637 2,630 1,706 1,088
Demat Charges 217 - 125 - 71 -
Commission paid on distribution of units 12,345 8,496 10,528 9,591 3,604 2,529
Rupees in '000
relatives of AMC (Nature of relation) Axis Dynamic Axis Dynamic
Axis Focused 25 Fund Axis Focused 25 Fund Axis Arbitrage Fund Axis Arbitrage Fund
Equity Fund Equity Fund
Professional clearing member charges 2,693 815 11,622 9,020 1,582 2,603
Bank charges 2,426 2,845 940 335 209 193

Employee)
Commission paid on distribution of units - 46 - - - -

Employee)


Employee)
Brokerage on trades 7,561 5,525 2,773 6,336 10,304 4,543
Commission paid on distribution of units 10,007 7,746 61 29 415 583
Rupees in '000
relatives of AMC (Nature of relation) Axis Equity Saver Axis Equity
Fund Saver Fund
Year ended Year ended Year ended Year ended

Professional clearing member charges 553 787 860 944
Bank charges 1,264 415 103 173
Commission paid on distribution of units * 191,836 225,783 18,128 22,576

Employee)
Commission paid on distribution of units - 7 - 46

Employee)
Commission paid on distribution of units - # - #

Commission paid on distribution of units - - - -

Employee)
Commission paid on distribution of units - - - -
Brokerage on trades 5,307 1,436 1,680 639
Demat Charges 51 - 1 -
Commission paid on distribution of units 1,484 1,426 227 312
* Includes transaction charges
288
Rupees in '000
relatives of AMC (Nature of relation) AXIS SMALL CAP AXIS CHILDREN'S GIFT AXIS TRIPLE AXIS TRIPLE
AXIS SMALL CAP FUND AXIS CHILDREN'S GIFT FUND
FUND FUND ADVANTAGE FUND ADVANTAGE FUND
Professional clearing member charges - 11 42 2 54 -
Bank charges 139 157 48 21 109 223
Urvi Mahendra Dedhia (Relative of AMC Employee)
Commission paid on distribution of units 1,072 308 4 4 335 354
Brokerage on trades 1,474 1,024 717 45 1,425 39
Rupees in '000
relatives of AMC (Nature of relation) AXIS EQUITY HYBRID AXIS EQUITY HYBRID AXIS GROWTH AXIS GROWTH
FUND FUND OPPORTUNITIES FUND OPPORTUNITIES FUND
Professional clearing member charges - - 134 - - -
Bank charges 1 1 57 37 89 27
Commission paid on distribution of units * - - 106,959 181,827 94,746 93,738
Urvi Mahendra Dedhia (Relative of AMC Employee)
Demat Charges - - 3 - 11 -
Commission paid on distribution of units - - 146 114 271 169
Brokerage on trades 38 - 3,648 1,529 313 59
Rupees in '000
Name of sponsor, associates, employees or AXIS RETIREMENT SAVINGS FUND -
AXIS NIFTY 100 INDEX FUND AXIS RETIREMENT SAVINGS FUND - AGGRESSIVE PLAN
their relatives of AMC (Nature of relation) CONSERVATIVE PLAN
Year ended Year ended Year ended Year ended March 31, Year ended Year ended
March 31, 2021 March 31, 2020 March 31, 2021 2020 March 31, 2021 March 31, 2020
Bank charges 11 7 10 3 2 1
Professional clearing member charges - - - - - -
Brokerage on Trades 498 1,155 39 - 334 -
Commission paid on distribution of units 20,890 11,018 55,097 18,854 10,926 4,067
Demat Charges 3 - 1 - # -
Commission paid on distribution of units 51 13 324 51 72 8
-
Rupees in '000
Name of sponsor, associates, employees or AXIS RETIREMENT SAVINGS FUND - DYNAMIC Axis Global Equity Alpha
their relatives of AMC (Nature of relation) PLAN Fund of Fund
Year ended Year ended Year ended Year ended Year ended
Bank charges 5 2 35 8 9
Professional clearing member charges 47 23 - - -
Brokerage on Trades 296 116 47 - -
Commission paid on distribution of units 30,445 10,866 243,346 34,606 63,755
Demat Charges # - 3 - 2
Commission paid on distribution of units 159 33 241 26 192

Associate companies have been paid commission on normal commercial terms at basis of an arm's length for procuring unit subscriptions for the Schemes.
289
Rupees in '000
Name of sponsor, associates, employees or Axis Special Situations Axis Greater China AXIS Technology
their relatives of AMC (Nature of relation) Axis Banking ETF Fund Equity Fund of Fund ETF
Bank charges 1 10 # #
Professional clearing member charges - - - -
Brokerage on Trades 254 1,040 - 105
Commission paid on distribution of units - 73,440 70 -
Demat Charges - 2 # -
Commission paid on distribution of units - 323 5 -

Associate companies have been paid commission on normal commercial terms at basis of an arm's length for procuring unit subscriptions for the Schemes.
(iv) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement basis where the sponsor or
associate companies have acted as arranger or lead manager.
F.Y. 2020-2021 Rupees in '000
Arranger Scheme Name Transaction Date Security Type Name of the security Face Value (Rs. Cr.)
Axis Capital Limited Axis Flexi Cap Fund 23-Feb-21 Equity Shares Suryoday Small Finance Bank Ltd. 501,000
Axis Capital Limited Axis Equity Hybrid Fund 23-Feb-21 Equity Shares Suryoday Small Finance Bank Ltd. 100,200
F.Y. 2019-2020: NIL
13. Investments made during the year in the sponsor company and its group companies at cost Rupees in '000
Name of sponsor company and its group AXIS BLUECHIP Axis Long Term Axis Long Term
AXIS BLUECHIP FUND
companies FUND Equity Fund Equity Fund
Axis Bank Limited *
Investment made by the Scheme 6,079,300 1,579,200 - -
Investment made by other schemes 23,681,926 4,021,142 29,761,226 5,600,342
Total investments 29,761,226 5,600,342 29,761,226 5,600,342
Name of sponsor company and its group Axis Focused 25 Axis Focused 25
companies Fund Fund
Axis Bank Limited *
Investment made by the Scheme 1,431,900 687,400 7,805,800 -
Name of sponsor company and its group Axis Dynamic Equity Axis Dynamic Equity
companies Fund Fund
Axis Bank Limited *
Investment made by the Scheme 5,969,100 1,380,800 2,512,100 540,100
Name of sponsor company and its group Axis Equity Saver Axis Equity Saver
companies Fund Fund
Axis Bank Limited *
Investment made by the Scheme 2,669,400 789,600 1,268,400 294,600

AXIS SMALL CAP AXIS CHILDREN'S AXIS CHILDREN'S
companies AXIS SMALL CAP FUND
FUND GIFT FUND GIFT FUND
Axis Bank Limited *
Investment made by the Scheme 294,600 - 196,400 -
290
Rupees in '000
AXIS TRIPLE AXIS TRIPLE
companies AXIS NIFTY ETF AXIS NIFTY ETF
ADVANTAGE FUND ADVANTAGE FUND

Axis Bank Limited *
Investment made by the Scheme 122,750 - 5,757 743
Name of sponsor company and its group AXIS GROWTH AXIS GROWTH
AXIS EQUITY AXIS EQUITY
companies OPPORTUNITIES OPPORTUNITIES
HYBRID FUND HYBRID FUND
FUND FUND
Axis Bank Limited *
Investment made by the Scheme 564,650 - - -

AXIS RETIREMENT AXIS RETIREMENT
companies AXIS NIFTY 100 INDEX AXIS NIFTY 100
SAVINGS FUND - SAVINGS FUND -
FUND INDEX FUND
AGGRESSIVE PLAN AGGRESSIVE PLAN

Axis Bank Limited *
Investment made by the Scheme 24,862 - - -
Name of sponsor company and its group AXIS RETIREMENT AXIS RETIREMENT
AXIS RETIREMENT AXIS RETIREMENT
companies SAVINGS FUND - SAVINGS FUND -
SAVINGS FUND - SAVINGS FUND -
CONSERVATIVE CONSERVATIVE
DYNAMIC PLAN DYNAMIC PLAN
PLAN PLAN
Axis Bank Limited *
Investment made by the Scheme - - 98,200 743
Name of sponsor company and its group AXIS ESG EQUITY AXIS ESG EQUITY Axis Global Equity
companies Axis Banking ETF
FUND FUND Alpha Fund of Fund

Axis Bank Limited *
Investment made by the Scheme - - - 125,807
Name of sponsor company and its group companies Axis Special Axis Greater China AXIS Technology
Situations Fund Equity Fund of Fund ETF
Year ended Year ended Year ended
March 31, 2021 March 31, 2021 March 31, 2021
Axis Bank Limited *
Investment made by the Scheme - - -
Investment made by other schemes 29,761,226 29,761,226 29,761,226
Total investments 29,761,226 29,761,226 29,761,226
14. Derivatives disclosure

291
15. NET ASSET VALUE Rupees

AXIS BLUECHIP Axis Long Term Axis Long Term
AXIS BLUECHIP FUND
Options FUND Equity Fund Equity Fund
G
RG Regular Growth 38.71 26.00 60.7641 38.5474
RD Regular IDCW 17.01 12.48 23.4640 16.3234
ZG Direct Growth 42.65 28.29 66.3498 41.7299
ZD Direct IDCW 19.89 13.86 44.7280 30.0034
Options
Regular Growth 54.63 32.57 37.48 23.40

Regular IDCW 29.28 19.04 19.43 13.26
Direct Growth 60.41 35.53 41.41 25.54
Direct IDCW 36.83 23.76 33.01 22.27
Axis Dynamic Equity Axis Dynamic Equity

Options Fund Fund
Regular Growth 14.6501 14.2014 12.74 10.26

Regular IDCW 10.6309 10.5043 11.25 9.92
Direct Growth 15.4427 14.8528 13.44 10.68
Direct IDCW 11.4131 11.2015 11.80 10.26
Axis Equity Saver Axis Equity Saver

Options Fund Fund
Regular Growth 15.49 10.37 15.23 12.00

Regular IDCW 12.79 9.37 12.59 10.63
Regular Monthly IDCW - - 11.78 9.42
Direct Growth 16.31 10.76 16.31 12.67
Direct IDCW 13.44 9.70 12.75 10.69
Direct Monthly IDCW - - 12.63 9.97
Direct Quarterly IDCW - - 12.85 10.13
292
Rupees
AXIS CHILDREN'S AXIS CHILDREN'S

AXIS SMALL CAP FUND Axis Small Cap Fund
GIFT FUND GIFT FUND
Options
Regular Growth 43.80 24.21 - -
Regular IDCW 27.13 16.38 - -
AXIS Nifty ETF - - - -
Compulsory Lock-in Regular Growth - - 17.0321 11.5629
Compulsory Lock-in Regular IDCW - - 17.0417 11.5692
No Lock-in Regular Growth - - 17.0303 11.5615
No Lock-in Regular IDCW - - 17.0275 11.5596
Direct Growth 47.94 26.04 - -
Direct IDCW 30.11 17.86 - -
Compulsory Lock-in Direct Growth - - 18.4231 12.3501
Compulsory Lock-in Direct IDCW - - 18.4074 12.3397
No Lock-in Direct Growth - - 18.6173 12.4647
No Lock-in Direct IDCW - - 18.4100 12.3400
AXIS TRIPLE AXIS TRIPLE

ADVANTAGE FUND ADVANTAGE FUND
Options
Regular Growth 25.6556 17.5230 - -
Regular IDCW 18.3792 13.6951 - -
AXIS Nifty ETF - - 152.8197 888.5128
Compulsory Lock-in Regular Growth - - - -
Compulsory Lock-in Regular IDCW - - - -
No Lock-in Regular Growth - - - -
No Lock-in Regular IDCW - - - -
Direct Growth 28.1538 18.9408 - -
Direct IDCW 21.6406 15.6939 - -
Compulsory Lock-in Direct Growth - - - -
Compulsory Lock-in Direct IDCW - - - -
No Lock-in Direct Growth - - - -
No Lock-in Direct IDCW - - - -
AXIS EQUITY AXIS EQUITY
OPPORTUNITIES OPPORTUNITIES
HYBRID FUND HYBRID FUND
Options FUND FUND
Regular Growth 13.02 8.97 15.93 9.43
Regular IDCW 11.91 8.97 14.57 9.43
Regular Monthly IDCW 12.54 8.92 - -
AXIS Nifty ETF - - - -
Compulsory Lock-in Regular Growth - - - -
Compulsory Lock-in Regular IDCW - - - -
No Lock-in Regular Growth - - - -
No Lock-in Regular IDCW - - - -
Direct Growth 13.55 9.20 16.62 9.68
Direct IDCW 12.40 9.21 15.19 9.68
Direct Monthly IDCW 13.06 9.13 - -
Compulsory Lock-in Direct Growth - - - -
Compulsory Lock-in Direct IDCW - - - -
No Lock-in Direct Growth - - - -
No Lock-in Direct IDCW - - - -
293
Rupees
AXIS RETIREMENT SAVINGS FUND -
Options AGGRESSIVE PLAN
Regular Growth 12.4959 7.4609 11.9696 8.4558
Regular IDCW 12.4968 7.4613 11.9718 8.4569
Direct Growth 12.6426 7.4842 12.2377 8.4977
Direct IDCW 12.6607 7.4949 12.2114 8.4816
AXIS Banking ETF - - - -
AXIS Technology ETF - - - -
AXIS RETIREMENT SAVINGS FUND - AXIS RETIREMENT SAVINGS FUND -

Options CONSERVATIVE PLAN DYNAMIC PLAN
Regular Growth 11.5070 9.5503 12.0534 9.0660
Regular IDCW 11.5063 9.5497 12.0537 9.0663
Direct Growth 11.7713 9.5990 12.3360 9.1113
Direct IDCW 11.6997 9.5576 12.2371 9.0476
AXIS Banking ETF - - - -
Axis Global Equity

AXIS ESG EQUITY FUND Axis Banking ETF
Options Alpha Fund of Fund
Regular Growth 13.5792 9.0225 11.5726 -
Regular IDCW 13.5801 9.0227 11.5726 -
Direct Growth 13.8313 9.0420 11.6484 -
Direct IDCW 13.8335 9.0434 11.6483 -
AXIS Banking ETF - - - 332.9096
Axis Special Axis Greater China AXIS Technology

Options Situations Fund Equity Fund of Fund ETF
March 31, 2021 March 31, 2021 March 31, 2021
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 100
Regular Growth 10.3307 9.0672 -
Regular IDCW 10.3307 9.0670 -
Direct Growth 10.3763 9.0841 -
Direct IDCW 10.3770 9.0810 -
AXIS Banking ETF - - -
AXIS Technology ETF - - 258.4725
The net asset value of the Scheme’s units are determined separately for units issued under the options after including the respective
unit capital and reserves and surplus.
The net asset value disclosed above represents the computed/declared NAV as on balance sheet date.

Contingent liabilities as on March 31, 2021: Nil (Previous year - Nil).

Rupees in '000
Axis Children's Gift Fund Reliance Industries Limited 8,170 -
Axis Dynamic Equity Fund Reliance Industries Limited 39,607 -
Axis Equity Hybrid Fund Reliance Industries Limited 28,471 -
Axis Bluechip Fund Reliance Industries Limited 225,945 -
Axis Equity Saver Fund Reliance Industries Limited 17,292 -
Axis Focused 25 Fund Reliance Industries Limited 255,776 -
Axis Flexi Cap Fund Reliance Industries Limited 69,135 -
Axis Triple Advantage Fund Reliance Industries Limited 5,436 -
294

The schemes operate in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.

There were no transactions in credit default swaps during the year ended March 31, 2021.(Previous year - Nil).

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part
of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set
aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of
IEAI on monthly basis and the unspent amounts are deployed in TREPS (TRI Party Repo).

Rupees in '000
Încluding amount of Rs. 1,12,08,926.97 pertaining to 50% of the IEP accrual of March-20 which was transferred to AMFI on 08th April 2020
and excluding amount of Rs. 16,796,059.60/- pertaining to 50% of the IEP accrual of March-21 which was transferred to AMFI on 08th April 2021.
20. Pursuant to SEBI Circular SEBI/HO/IMD/DF3/CIR/P/2020/194 dated October 05, 2020, with effect from April 01, 2021, names of existing dividend
plans / options of schemes have been renamed as IDCW (Income Distribution cum Capital Withdrawal) Plan / Option.
"Dividend" has been replaced with "Distribution (of Income and Capital)" w.e.f. April 01, 2021.

As these are the first financial statements of Axis Global Equity Alpha Fund of Fund, Axis Banking ETF, Axis Special Situations Fund,
Axis Greater China Equity Fund of Fund and AXIS Technology ETF there are no prior period comparatives.
Milind Ranade


295
B S R & Co. LLP


Axis Gold ETF
Opinion
We have audited the financial statements of Axis Gold ETF (the ‘Scheme’) of Axis Mutual Fund,
generally accepted in India, of the state of affairs of the Scheme as at 31 March 2021, its deficit and
Basis for Opinion

opinion.
Key Audit Matters

Registered Office
296

Axis Mutual Fund – Axis Gold ETF
policy.

Other Information
in this regard.
297

Statements

298

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADG9069
299

Axis Gold ETF Axis Gold ETF

March 31, 2021 March 31, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 103,207 43,807

Reserves and surplus 2(b) & 4 3,857,181 1,639,068
Current liabilities and provisions 5 3,341 2,982
3,963,729 1,685,857
Investments 2(c) , 6 & 18 3,822,657 1,625,538

Other current assets 7 141,072 60,319
3,963,729 1,685,857

The accompanying schedules are an integral part of this balance sheet.

Place: Mumbai R. Sivakumar Devang Shah

Date: May 25, 2021 Head-Fixed Income & Fund Manager Co-Head-Fixed Income & Fund Manager
300
Revenue Account

April 01, 2020 April 01, 2019
to to
March 31, 2021 March 31, 2020
Schedule
INCOME AND GAINS
Interest 2(d) & 8 1,843 1,317

Profit on sale/redemption of investments, net 2(d) 2,723 6,849
Other income - 5,533
Net change in marked to market gain / loss in value of investments 2(c) & 6(ii) (258,146) 407,318
Total (253,580) 421,017
EXPENSES AND LOSSES
Management fee 9 8,702 2,520

GST on management fees 1,566 454
Trusteeship fee 9 12 6
Investor education expense 600 262
Custodian service charges 4,123 2,937
Registrar service charges 711 302
Audit fee 36 38
Listing fee 61 61
Other operating expenses 60 79
Total 15,871 6,659
Surplus / (Deficit) for the year (269,451) 414,358

Transfer from / (to) unrealised appreciation reserve 258,146 (407,318)
Equalisation (debit) / credit 2(e) 1,389,740 116,360
Net (Deficit) / Surplus transferred to the retained surplus 4 1,378,435 123,400



301
Cash Flow Statement

Particulars Axis Gold ETF Axis Gold ETF
April 01, 2020 April 01, 2019

to to
March 31, 2021 March 31, 2020
Surplus / (Deficit) for the year (269,451) 414,358
Net change in marked to market gain / loss in value of investments 258,146 (407,318)
Operating Surplus / (Deficit) before working capital changes (11,305) 7,040
Adjustments for:-
(Increase)/Decrease in investments at cost (2,455,264) (165,600)
(Increase)/Decrease in net current assets (75,562) (5,218)
Increase/(Decrease) in current liabilities 359 (16,653)
Net cash generated from / (used in) operating activities (A) (2,541,772) (180,431)

Increase/(Decrease) in unit capital 59,400 5,000
Increase/(Decrease) in unit premium reserve 2,487,564 181,944
Net cash generated from / (used in) financing activities (B) 2,546,964 186,944
Net increase/(decrease) in cash and cash equivalents (A) + (B) 5,192 6,513
Cash and Cash Equivalents as at the beginning of the year 54,977 48,464
Cash and Cash Equivalents as at the end of the year (A+B) 60,169 54,977
Component of cash and cash equivalents
Balances with banks in current accounts 213 11

Reverse Repo and Tri-Party Repo 59,956 54,966
Total 60,169 54,977
0


302
1. (a) BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of
Axis MutualFund Trustee Limited ('the Trustee') has appointedAxis Asset ManagementCompany Limited ('the AMC') to manage the Fund's affairs and operate
its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset Management Company Limited and the
balance 25% plus one equity share is held by Schroders Investment Management(Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders
Singapore Holdings Private Limited (SSHPL), both subsidiaries of Schroders plc.
The key features of Axis Gold ETF are as below:

Scheme Name Type of Scheme Investment objective of the Scheme NFO Open
NFO Close
Axis Gold ETF An open ended scheme To generate returns that are in line with the performance of October 20, 2010
replicating/tracking Domestic gold. to
Price of Gold November 3, 2010

The corona virus pandemic prevailing in India and across countries during the year ended and post 31 March 2021 is considered as a significant event.
Service providers like the Registrar and Transfer Agent, Custodian and Fund Accountant have carried out extensive arrangements to address business
needs and continuity of operations have been achieved by the management all throughout ever since this pandemic has unfolded . Regulators and industry
bodies supported the industry, and also permitted certain relaxations in regulatory requirements. Considering the steps taken by the Government of India in
controlling the pandemic, and with vaccine now been available against Covid-19, management of Axis Mutual Fund see the spread of virus being controlled in
near future, resulting into smooth business functioning across all sectors.
As on the date of signing of these financial statements, management of Axis Mutual Fund believes there are no subsequent events indicating any significant
impact on the operations of the Axis Mutual Fund, the going concerns of any of the Scheme for a foreseeable future and on the fair value of investments held
by the Scheme as of the Balance Sheet date as a result of prevailing corona virus pandemic.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention,as modified for investments, which are ‘marked-
to-market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the
AMC and the Trustee, are stated below.

The net asset value is determined considering the daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments,
and expenses accrued.

Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each plan/Option,
after adjusting an appropriate portion of the sale or re-purchase price to the income equalisation account.
(c) Investments
Purchase and sale of investments (gold) are recorded on the date of the transaction, at cost and sale price respectively, after considering brokerage,
commission, and fees payable, if any.
Basis the applicable rules under Tax Collected at Source (TCS - w.e.f. October 01, 2020) and Goods and Service Tax (GST) Act, Gold transactions are
accounted excluding TCS and GST in the books.
Investment in gold is valued at the AM fixing price of gold quoted on the London Bullion Market Association [LBMA] declared in US Dollars as increased by
premium and fixing charges and by converting it into Indian Rupees at the RBI reference rate, as increased by custom duty for import of gold, in accordance
with the guidelines issued by SEBI.
The net unrealized appreciation/ depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two
balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.

Interest income is recognised on an accrual basis.
In case of open-endedscheme, when units are purchased / sold by the Scheme at NAV based price, amount representing unrealised appreciationper unit and
unit premium reserve per unit is credited to Unit Premium Reserve.
The balance amount of the purchase / sale price after reducing the face value of unit is transferred to Income Equalisationaccount and the net balance in this
account is credited or debited to the Revenue Account at the year end.
(f) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts and Tri-Party Repo.
(g) Cash Flow Statements

Cash Flow Statement has been prepared in accordance with accounting standard 3 'Cash Flow Statements'.
303

March 31, 2021 March 31, 2020
Face Value Re. 1 each fully paid up ^^ Face Value Rs. 100 each fully paid up
Initial Capital # 33,507,200.000 33,507 335,072.000 33,507
Up to the date of FV change

Outstanding, beginning of year 438,072.000 43,807 - -
Issued - -
Redeemed during the period 37,000.000 3,700 - -
- -
Outstanding as on 24 July 2020 563,072.000 56,307 - -
After the date of FV change

Adjusted Units as on 24 July 2020 based on revised
face value 56,307,200.000 56,307 - -
Issued
-during the period 46,900,000.000 46,900 - -
Redeemed during the period - -
Outstanding, beginning of previous year - - 388,072.000 38,807

Issued
-during the year - - 64,000.000 6,400
Redeemed during the year - - 14,000.000 1,400
Outstanding, end of year 103,207,200.000 103,207 438,072.000 43,807
^Âxis MF had issued addendum dated July 9, 2020 regarding reduction in face value in case of Axis Gold ETF – from INR 100 per unit to INR 1 per unit.
# Qty. as at 31 Mar 21 is based on revised face value.
Rupees in '000
March 31, 2021 March 31, 2020

Balance, beginning of year 165,312 99,728
Net premium/discount on issue/redemption of units 2,487,564 181,944
Transferred (to) / from equalisation account (1,389,740) (116,360)
Balance, end of year 1,263,136 165,312

Balance, beginning of year 445,996 38,678
Net change in marked to market gain / loss in value of investments (258,146) 407,318
Balance, end of year 187,850 445,996
Retained surplus
Balance, beginning of year 1,027,760 904,360
Net Surplus / (Deficit) transferred from revenue account 1,378,435 123,400
Balance, end of year 2,406,195 1,027,760
Total reserves 3,857,181 1,639,068
304
Rupees in '000
5. CURRENT LIABILITIES AND PROVISIONS Axis Gold ETF Axis Gold ETF
Amount due to AMC March 31, 2021 March 31, 2020
- Management fees 2,319 2,231
Trusteeship fee payable 2 1
Sundry creditors for units redeemed by investors: - 1
Audit fee payable 33 35
Registrar service fees payable 78 32
Goods and Service tax payable on gold - 252
Investor education expense payable 66 28
Custody fees payable 453 353
Other current liabilities 390 49
3,341 2,982
6. INVESTMENTS
Gold 3,822,657 1,625,538
INVESTMENTS 3,822,657 1,625,538
0.00 (1.00)
(i) All the investments are held in the name of the Scheme, except Tri-party repo as per clause 7 of the Seventh
Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
March 31, 2021 March 31, 2020
Gold
- appreciation 187,850 445,996
- depreciation - -
0
(iii) The aggregate value of investments acquired and sold during the year and these amounts as a percentage of
average daily net assets are as follows:
Rupees in '000
April 01, 2020 April 01, 2019
to to
March 31, 2021 March 31, 2020
Purchases - Gold
Other - amount 2,470,164 196,286
- as a percentage of average daily net assets 82.22% 15.02%
Sales - Gold
Other - amount 9,626 37,813
305
Rupees in '000
March 31, 2021 March 31, 2020
Balances with banks in current accounts 213 11

Interscheme receivable 500 -
Margin deposit with clearing corporation of India limited 500 -
Goods and service tax receivable on gold 78,878 5,314
TCS receivable on gold 1,000 -
Reverse repo and tri-party repo 59,956 54,966
Other current assets 25 28
141,072 60,319
April 01, 2020 April 01, 2019

to to
March 31, 2021 March 31, 2020
8. INTEREST
Collateralised lending, reverse repo and tri-party Repo 1,842 1,316

1,842 1,316

The Scheme pays fees for investment management services under an agreement with the AMC, which provides for
computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the
investments by the AMC in the scheme, the net asset value of the investments made in other schemes as applicable.During
the year ended March 31, 2021, Axis Gold ETF has paid management fee (excluding GST) at an average annualised rate of
0.29 percent (previous year 0.19 percent).
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month
(Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is apportioned to all the schemes on the
basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net
assets of all the schemes.

The total income and expenditure and these amounts as a percentage of the scheme's average daily net assets on an
annualised basis are provided below:
Rupees in '000
April 01, 2020 April 01, 2019
to to
March 31, 2021 March 31, 2020
Income (net off realised loss on sale of investment and excluding net change in
marked to market in value of investments)
- amount 4,566 13,699
- amount 15,871 6,659
306
Axis Gold ETF has entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on 'Related Party Disclosures'
issued by the Institute of Chartered Accountants of India is provided below;


(i) Transactions covered by Accounting Standard-18

Rupees in '000
Name of Related Party Nature of transactions March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Axis Asset Management Company Limited Subscription of units at NAV - - - 7,683
Axis Triple Advantage Fund Subscription of units at NAV 15,508,000 - 24,350,400 443,714
Axis Triple Advantage Fund Redemption of units at NAV 35,000 - - -
Axis Gold Fund Subscription of units at NAV 23,612,000 109,271 53,700,000 729,894
Axis Gold Fund Redemption of units at NAV - 11,201 - -
(ii) Transactions covered by Regulation 25(8) of the SEBI Regulation with the sponsor, associates, employees or their relatives of AMC:
Rupees in '000
their relatives of AMC (Nature of relation) Axis Gold ETF Axis Gold ETF
Year ended Year ended
March 31, 2021 March 31, 2020
Bank charges 3 1
12. Investments made during the year in the sponsor company and its group companies at cost
Rupees in '000
companies
March 31, 2021 March 31, 2020
Axis Bank Limited *
Investment made by the Scheme -
Investment made by other schemes 29,761,226 5,600,342
Total investments 29,761,226 5,600,342
307
13. NET ASSET VALUE
AXISGETF Rupees
Scheme name Axis Gold ETF Axis Gold ETF
March 31, 2021 March 31, 2020
Face Value Rs. 1 Face Value Rs. 100
Axis Gold ETF 38.3732 3,841.5457
The net asset value disclosed above represents the declared NAV as on balance sheet date.


The scheme operates in one segment only viz. to generate returns that are in line with the performance of gold.

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each
scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate
bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in TREPS (TRI Party Repo).
Rupees in '000
Încluding amount of Rs. 1,12,08,926.97 pertaining to 50% of the IEP accrual of March-20 which was transferred to AMFI on 08th April 2020 and excluding amount of Rs. 16,796,059.60/-
pertaining to 50% of the IEP accrual of March-21 which was transferred to AMFI on 08th April 2021.

18. Details of investment portfolio of the scheme as at March 31, 2021 are disclosed as attachments.


308
B S R & Co. LLP


Axis Fixed Term Plan – Series 95 (1185 Days)
Opinion
We have audited the financial statements of Axis Fixed Term Plan – Series 95 (1185 Days) (the
revenue account and cash flow statement for the year then ended, and notes to the financial
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
309

Axis Mutual Fund – Axis Fixed Term Plan – Series 95 (1185 Days)
policy.

Other Information
in this regard.
310

Statements

311

related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADJ4270
312
B S R & Co. LLP


Opinion
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
313

policy.

Other Information
in this regard.
314

Statements

315

related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADK2470
316
B S R & Co. LLP


Opinion
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
317

policy.

Other Information
in this regard.
318

Statements

319

related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADL8638
320
B S R & Co. LLP


Opinion
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
321

Axis Mutual Fund – Axis Fixed Term Plan – Series 100 (1172
Days)
policy.

Other Information
in this regard.
322

Days)
Statements

323

Days)
related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADN9261
324
B S R & Co. LLP


Opinion
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
325

Days)
policy.

Other Information
in this regard.
326

Days)
Statements

327

Days)
related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADO7828
328
B S R & Co. LLP


Opinion
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
329

Days)
policy.

Other Information
in this regard.
330

Days)
Statements

331

Days)
related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADP5364
332
B S R & Co. LLP


Opinion
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
333

Days)
policy.

Other Information
in this regard.
334

Days)
Statements

335

Days)
related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN: 21100564AAAADQ9347
336
B S R & Co. LLP


Axis Equity Advantage Fund – Series 1
Opinion
We have audited the financial statements of Axis Equity Advantage Fund – Series 1 (the ‘Scheme’)
and cash flow statement for the year then ended, and notes to the financial statements, including a
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
337

Axis Mutual Fund – Axis Equity Advantage Fund – Series 1
policy.

Other Information
in this regard.
338

Statements

339

related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADH3928
340
B S R & Co. LLP


Axis Capital Builder Fund – Series 1 (1540 Days)
Opinion
We have audited the financial statements of Axis Capital Builder Fund – Series 1 (1540 Days) (the
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
341

Axis Mutual Fund – Axis Capital Builder Fund – Series 1 (1540
Days)
policy.

Other Information
in this regard.
342

Days)
Statements

343

Days)
related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADI2338
344
B S R & Co. LLP


Axis Capital Builder Fund – Series 4 (1582 Days)
Opinion
We have audited the financial statements of Axis Capital Builder Fund – Series 4 (1582 Days) (the
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
345

Days)
policy.

Other Information
in this regard.
346

Days)
Statements

347

Days)
related safeguards.

reasonable.
For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADM7846
348

AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
PLAN - SERIES 95 (1185 PLAN - SERIES 95 (1185 PLAN - SERIES 96 (1124 PLAN - SERIES 96 (1124 PLAN - SERIES 97 (1116 PLAN - SERIES 97 (1116
DAYS) DAYS) DAYS) DAYS) DAYS) DAYS)
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 907,011 907,011 464,926 464,926 3,405,882 3,405,882
Reserves and surplus 2(b) & 4 235,319 158,642 68,367 23,960 603,932 271,909
Current liabilities and provisions 5 467 305 236 289 1,249 981
1,142,797 1,065,958 533,529 489,175 4,011,063 3,678,772
Investments 2(c), 6 & 22 1,022,854 1,017,470 497,970 429,516 3,719,969 3,438,807

Deposits 7 - - - - - -
1,142,797 1,065,958 533,529 489,175 4,011,063 3,678,772

this balance sheet.

Place: Mumbai R. Sivakumar Devang Shah Aditya Pagaria

Date: May 25, 2021 Head-Fixed Income & Co-Head-Fixed Income & Fund Manager-Fixed Income
Fund Manager Fund Manager
Jinesh Gopani Shreyash Devalkar Anupam Tiwari Ashish Naik

Head-Equity Fund Manager-Equity Fund Manager-Equity Fund Manager-Equity
349

PLAN - SERIES 100 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 102
(1172 DAYS) (1172 DAYS) (1154 DAYS) (1154 DAYS) (1133 DAYS) (1133 DAYS)
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 221,541 221,541 267,800 267,800 318,872 318,872
Reserves and surplus 2(b) & 4 49,078 27,249 57,695 31,371 66,227 35,283
Current liabilities and provisions 5 163 303 134 193 172 251
270,782 249,093 325,629 299,364 385,271 354,406
Investments 2(c), 6 & 22 253,788 232,935 310,668 282,555 371,246 340,998

Deposits 7 - - - - - -
270,782 249,093 325,629 299,364 385,271 354,406

this balance sheet.



350

AXIS FIXED TERM AXIS FIXED TERM AXIS EQUITY AXIS EQUITY AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER
PLAN - SERIES 104 PLAN - SERIES 104 ADVANTAGE FUND - ADVANTAGE FUND - FUND - SERIES 1 (1540 FUND - SERIES 1 (1540
(1112 DAYS) (1112 DAYS) SERIES 1 SERIES 1 DAYS) DAYS)
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 889,872 889,872 8,515,977 8,515,977 4,422,392 4,422,392
Reserves and surplus 2(b) & 4 171,475 88,480 4,128,199 983,755 1,648,429 (712,654)
Current liabilities and provisions 5 247 295 15,960 21,491 51,200 9,311
1,061,594 978,647 12,660,136 9,521,223 6,122,021 3,719,049
Investments 2(c), 6 & 22 1,000,891 928,529 9,498,385 8,091,190 5,985,611 3,085,561

Deposits 7 - - - - - -
Other current assets 8 60,703 50,118 3,161,751 1,430,033 136,410 633,488
1,061,594 978,647 12,660,136 9,521,223 6,122,021 3,719,049

this balance sheet.



351

AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER
FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
DAYS) DAYS)
March 31, 2021 March 31, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 8,461,935 8,461,935

Reserves and surplus 2(b) & 4 3,556,702 (1,097,639)
Current liabilities and provisions 5 15,097 12,752
12,033,734 7,377,048
Investments 2(c), 6 & 22 11,054,301 6,969,153

Deposits 7 98,200 147,300
Other current assets 8 881,233 260,595
12,033,734 7,377,048

this balance sheet.



352
Revenue Account
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM PLAN
PLAN - SERIES 95 (1185 PLAN - SERIES 96 (1124 PLAN - SERIES 96 PLAN - SERIES 97 PLAN - SERIES 97
- SERIES 95 (1185 DAYS)
DAYS) DAYS) (1124 DAYS) (1116 DAYS) (1116 DAYS)
to to to to to to
Schedule
INCOME
Dividend 2(d) - - - - - -
Interest 2(d) & 9 84,196 81,978 40,959 37,186 314,390 306,543
Profit on sale/redemption of
investments (including derivatives), net 2(d) 436 - 1,439 - 14,295 -
investments, net 2(d) - - - - - -
Other income - - - - - -
Net change in marked to market gain /
loss in value of investments 2(c) & 6(ii) (5,963) 9,912 3,835 4,418 21,065 22,479
Total 78,669 91,890 46,233 41,604 349,750 329,022
EXPENSES AND LOSSES
Loss on sale/redemption of
investments (including derivatives), net 2(d) - - - 34,522 - 194,345
Loss on inter-scheme transfer/sale of
Management fee 10 1,300 948 1,352 1,238 13,736 12,486
GST on management fees 234 170 244 222 2,472 2,248
Registrar service charges 131 121 60 56 454 418
Commission to distributors 1 246 - 19 - 155
Audit fee 25 18 24 17 25 19
Listing fee 19 19 14 14 76 76
Total 1,992 1,788 1,826 36,210 17,727 210,675
Surplus / (Deficit) for the year 76,677 90,102 44,407 5,394 332,023 118,347
Transfer from / (to) unrealised appreciation reserve 5,963 (9,912) (3,502) - (21,064) (11,760)
retained surplus 4 82,640 80,190 40,905 5,394 310,959 106,587
Significant accounting policies and

notes to accounts 1 to 22



353
Revenue Account
AXIS FIXED TERM PLAN AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM PLAN AXIS FIXED TERM
AXIS FIXED TERM PLAN -
- SERIES 100 (1172 PLAN - SERIES 101 PLAN - SERIES 101 - SERIES 102 (1133 PLAN - SERIES 102
SERIES 100 (1172 DAYS)
DAYS) (1154 DAYS) (1154 DAYS) DAYS) (1133 DAYS)
to to to to to to
Schedule
INCOME
Dividend 2(d) - - - - - -
Interest 2(d) & 9 20,069 19,359 24,570 23,971 28,889 28,303
investments (including derivatives), net 2(d) - - - - - -
loss in value of investments 2(c) & 6(ii) 2,361 2,906 2,624 3,063 2,901 3,889
Total 22,430 22,265 27,194 27,034 31,790 32,192
EXPENSES AND LOSSES
investments (including derivatives), net 2(d) - - 251 - - -
Management fee 10 140 125 134 124 167 154
GST on management fees 26 22 24 22 30 28
Commission to distributors 295 277 302 276 469 429
Audit fee 24 17 24 17 24 17
Listing fee 14 14 14 14 14 14
Other operating expenses 7 1 6 - 7 1
Total 601 545 870 561 846 771
Surplus / (Deficit) for the year 21,829 21,720 26,324 26,473 30,944 31,421
Transfer from / (to) unrealised appreciation reserve (2,361) (2,906) (2,624) (3,063) (2,901) (3,889)
retained surplus 4 19,468 18,814 23,700 23,410 28,043 27,532




354
Revenue Account
AXIS FIXED TERM AXIS FIXED TERM PLAN AXIS EQUITY AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER
AXIS EQUITY ADVANTAGE
PLAN - SERIES 104 - SERIES 104 (1112 ADVANTAGE FUND - FUND - SERIES 1 (1540 FUND - SERIES 1 (1540
FUND - SERIES 1
(1112 DAYS) DAYS) SERIES 1 DAYS) DAYS)
to to to to to to
Schedule
INCOME
Dividend 2(d) - - 39,577 71,165 28,672 48,950

Interest 2(d) & 9 75,440 73,986 148,663 162,632 36,750 53,058
investments (including derivatives), net 2(d) - - 1,331,853 10,639 - 118,018
investments, net 2(d) - - - - - 1,015
Other income - - - 1 - -
loss in value of investments 2(c) & 6(ii) 8,846 16,112 1,767,918 (308,997) 2,595,581 (896,937)
Total 84,286 90,098 3,288,011 (64,560) 2,661,003 (675,896)
EXPENSES AND LOSSES
investments (including derivatives), net 2(d) - 293 - - 234,094 -
investments, net 2(d) - 1,640 - - - -
Management fee 10 206 161 41,972 36,105 22,279 19,847
GST on management fees 38 30 7,556 6,498 4,010 3,572
Investor education expense 206 188 2,206 2,066 996 916
Registrar service charges 122 110 3,904 3,656 1,764 1,623
Commission to distributors 619 590 87,061 84,200 36,349 33,987
Audit fee 24 18 48 37 45 34
Listing fee 19 19 131 131 76 76
Total 1,291 3,106 143,567 133,545 299,920 60,429
Surplus / (Deficit) for the year 82,995 86,992 3,144,444 (198,105) 2,361,083 (736,325)
Transfer from / (to) unrealised appreciation reserve (8,846) (16,112) (1,767,918) 308,997 (1,769,233) 70,589
retained surplus 4 74,149 70,880 1,376,526 110,892 591,850 (665,736)




355
Revenue Account
AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER

FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
DAYS) DAYS)
April 01, 2020 April 01, 2019

to to
March 31, 2021 March 31, 2020
Schedule
INCOME
Dividend 2(d) 66,110 100,540

Interest 2(d) & 9 26,024 37,637
investments (including derivatives), net 2(d) 298,711 -
investments, net 2(d) 1,698 157
Other income - -
loss in value of investments 2(c) & 6(ii) 4,390,334 (1,547,774)
Total 4,782,877 (1,409,440)
EXPENSES AND LOSSES
investments (including derivatives), net 2(d) - 49,343
investments, net 2(d) - -
Management fee 10 38,745 35,106
GST on management fees 6,974 6,320
Trusteeship fee 10 40 45
Investor education expense 1,960 1,854
Custodian service charges 426 492
Registrar service charges 3,467 3,281
Commission to distributors 76,639 73,967
Audit fee 47 36
Listing fee 132 132
Other operating expenses 106 145
Total 128,536 170,721
Surplus / (Deficit) for the year 4,654,341 (1,580,161)
Transfer from / (to) unrealised appreciation reserve (3,247,128) 404,567

retained surplus 4 1,407,213 (1,175,594)




356
Cash Flow Statement

AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN -
SERIES 95 (1185 DAYS) SERIES 95 (1185 DAYS) SERIES 96 (1124 DAYS) SERIES 96 (1124 DAYS)
Particulars
to to to to
Surplus / (Deficit) for the year 76,677 90,102 44,407 5,394
investments 5,963 (9,912) (3,835) (4,418)
Operating Surplus / (Deficit) before working
capital changes 82,640 80,190 40,572 976
Adjustments for:-
(Increase)/decrease in investments at cost (11,347) (68,695) (64,620) 39,528
(Increase)/decrease in other current assets (3,218) (2,780) (7,267) 2,171
Increase/(Decrease) in current liabilities 162 (266) (53) (107)
(Increase)/Decrease in deposits - - - -
Net cash generated from / (used in) operating
activities (A) 68,237 8,449 (31,367) 42,568

activities (B) - - - -
Net increase/(decrease) in cash and cash

equivalents (A)+ (B) 68,237 8,449 (31,367) 42,568
Cash and Cash Equivalents as at the beginning of the

year 11,235 2,786 44,076 1,508
Cash and cash equivalents as at the end of the
year 79,472 11,235 12,709 44,076
Balances with banks in current accounts 2 1 1 1

Total 79,472 11,235 12,709 44,076
(0) (0.39)
The above cash flow statement is prepared under the "Indirect Method" as set out in Accounting Standard (AS) - 3 'Cash Flow Statements'. (0)



357
Cash Flow Statement

AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN
PLAN - SERIES 100 PLAN - SERIES 100
SERIES 97 (1116 DAYS) - SERIES 97 (1116 DAYS)
Particulars (1172 DAYS) (1172 DAYS)
to to to to
investments (21,065) (22,479) (2,361) (2,906)
capital changes 310,958 95,868 19,468 18,814
Adjustments for:-
(Increase)/decrease in investments at cost (260,097) 6,672 (18,492) (11,103)
(Increase)/decrease in other current assets (35,156) 11,731 (939) (12)
Increase/(Decrease) in current liabilities 268 (2,602) (140) 157
activities (A) 15,973 111,669 (103) 7,856


equivalents (A)+ (B) 15,973 111,669 (103) 7,856

year 116,163 4,494 14,943 7,087
year 132,136 116,163 14,840 14,943

Total 132,136 116,163 14,840 14,943
(0.01) (0.08)



358
Cash Flow Statement

AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
PLAN - SERIES 101 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 102
Particulars (1154 DAYS) (1154 DAYS) (1133 DAYS) (1133 DAYS)
to to to to
investments (2,624) (3,063) (2,901) (3,889)
capital changes 23,700 23,410 28,043 27,532
Adjustments for:-
(Increase)/decrease in investments at cost (25,488) (10,217) (27,348) (17,788)
(Increase)/decrease in other current assets (552) (5) (543) (285)
Increase/(Decrease) in current liabilities (59) 152 (79) 201
activities (A) (2,400) 13,340 74 9,660


equivalents (A)+ (B) (2,400) 13,340 74 9,660

year 14,795 1,455 10,810 1,150
year 12,395 14,795 10,884 10,810

Total 12,395 14,795 10,884 10,810
0.45 (0.23)



359
Cash Flow Statement

AXIS FIXED TERM AXIS FIXED TERM AXIS EQUITY AXIS EQUITY
PLAN - SERIES 104 PLAN - SERIES 104 ADVANTAGE FUND - ADVANTAGE FUND -
Particulars (1112 DAYS) (1112 DAYS) SERIES 1 SERIES 1
to to to to
Surplus / (Deficit) for the year 82,995 86,992 3,144,444 (198,105)
investments (8,846) (16,112) (1,767,918) 308,997
capital changes 74,149 70,880 1,376,526 110,892
Adjustments for:-
(Increase)/decrease in investments at cost (63,517) (454,611) 360,723 (1,030,953)
(Increase)/decrease in other current assets (410) (3,550) 522,239 (899,980)
Increase/(Decrease) in current liabilities (48) (51,838) (5,531) 5,847
(Increase)/Decrease in deposits - - - 50,000
activities (A) 10,175 (439,119) 2,253,957 (1,764,194)


equivalents (A)+ (B) 10,175 (439,119) 2,253,957 (1,764,194)

year 42,049 481,168 835,309 2,599,503
year 52,224 42,049 3,089,266 835,309
Balances with banks in current accounts 14 1 2,179 1,562

Reverse Repo and Tri-Party Repo 52,210 42,048 3,087,087 833,747
Total 52,224 42,049 3,089,266 835,309
(0.34) 0.20



360
Cash Flow Statement

AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER
FUND - SERIES 1 (1540 FUND - SERIES 1 (1540 FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
Particulars DAYS) DAYS) DAYS) DAYS)
to to to to
Surplus / (Deficit) for the year 2,361,083 (736,325) 4,654,341 (1,580,161)
investments (2,595,581) 896,937 (4,390,334) 1,547,774
capital changes (234,498) 160,612 264,007 (32,387)
Adjustments for:-
(Increase)/decrease in investments at cost (263,619) 13,987 305,186 (520,073)
(Increase)/decrease in other current assets 98,026 (164,004) (5,999) (2,570)
Increase/(Decrease) in current liabilities 1,039 (1,307) 2,345 (10,113)
(Increase)/Decrease in deposits - - 49,100 52,700
activities (A) (399,052) 9,288 614,639 (512,443)


equivalents (A)+ (B) (399,052) 9,288 614,639 (512,443)

year 519,313 510,025 257,058 769,501
year 120,261 519,313 871,697 257,058
Balances with banks in current accounts 1,213 726 2,118 1,923

Total 120,261 519,313 871,697 257,058
0.19 (0.26)



361
1. (a) BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual
Fund Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25%
plus one equity share is held by Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders Singapore Holdings
Private Limited (SSHPL), both subsidiaries of Schroders plc.
NFO Close
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns June 27, 2018 Regular Growth
SERIES 95 (1185 DAYS) through a portfolio of debt & money market to Regular IDCW
instruments that are maturing on or before the July 03, 2018 Regular Quarterly IDCW
maturity of the scheme. However, there is no Regular Half Yearly IDCW
assurance or guarantee that the investment objective Direct Growth
of the Scheme will be achieved. The Scheme does Direct IDCW
not assure or guarantee any returns. Direct Quarterly IDCW
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns August 30, 2018 Regular Growth
instruments that are maturing on or before the August 31, 2018 Regular Quarterly IDCW
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns September 06, 2018 Regular Growth
instruments that are maturing on or before the September 10, 2018 Regular Quarterly IDCW
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns January 15, 2019 Regular Growth
instruments that are maturing on or before the January 21, 2019 Regular Quarterly IDCW
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns February 01, 2019 Regular Growth
instruments that are maturing on or before the February 12, 2019 Regular Quarterly IDCW
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns February 27, 2019 Regular Growth
instruments that are maturing on or before the March 05, 2019 Regular Quarterly IDCW
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavor to generate returns March 19, 2019 Regular Growth
instruments that are maturing on or before the March 26, 2019 Regular Quarterly IDCW
assurance or guarantee Direct Growth
that the investment objective of the Scheme will be Direct IDCW
achieved. The Scheme does not assure or Direct Quarterly IDCW
guarantee any returns. Direct Half Yearly IDCW
362
NFO Close
Axis Equity Advantage An Close Ended equity To generate capital appreciation over medium to long- May 05, 2017 Regular Growth
Fund - Series 1 scheme term from a diversified portfolio of predominantly to Direct Growth
equity & equity related instruments. It also aims to May 19, 2017
manage risk through use of active hedging
techniques. However, there is no assurance or
guarantee that the investment objective of the
Scheme will be achieved. The Scheme does not
Axis Capital Builder Fund - An Close Ended equity To generate income and long term capital February 16, 2018 Regular Growth
Series 1 (1540 Days) scheme appreciation by investing in a diversified portfolio of to Regular IDCW
equity & equity related instruments across market March 1, 2018 Direct Growth
capitalisation. However, there is no assurance or Direct IDCW
Axis Capital Builder Fund - A close ended equity scheme To generate income and long term capital December 03, 2018 Regular Growth
Series 4 (1582 Days) investing across large cap, appreciation by investing in a diversified portfolio of to Regular IDCW
mid cap and small cap equity & equity related instruments across market December 17, 2018 Direct Growth
stocks. capitalisation. However, there is no assurance or Direct IDCW
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other, or are
interdependent or comparable in any way.
The coronavirus pandemic prevailing in India and across countries during the year ended and post 31 March 2021 is considered as a significant event. As at the date of
signing of these financial statements, the COVID-19 crisis is still un-folding, and the full impact of the coronavirus is not capable of being qualitatively or quantitatively
assessed on the businesses of the investee companies. Management of Axis Mutual Fund has made attempts to ensure that adequate liquidity and quality of portfolio
has been maintained. Even during the pandemic period, management of the Fund had succeeded in achieving a significant growth in the SIP AUM and the highest
Equity AUM as on March 31, 2021 amongst the industry peers. During the year, the Fund has also witnessed a significantly increase total AUM from Rs. 1.16 Lakh
crores as on March 31, 2020 to Rs. 1.91 Lakh crores as on March 31, 2021. Service providers like the Registrar and Transfer Agent, Custodian and Fund Accountant
have carried out extensive arrangements to address business needs and continuity of operations have been achieved by the management all throughout ever since this
pandemic has unfolded . Regulators and industry bodies supported the industry, and also permitted certain relaxations in regulatory requirements. Considering the
steps taken by the Government of India in controlling the pandemic, and with vaccine now been available against Covid-19, management of Axis Mutual Fund see the
spread of virus being controlled in near future, resulting into smooth business functioning across all sectors.
As on the date of signing of these financial statements, management of Axis Mutual Fund believes there are no subsequent events indicating any significant impact on
the operations of the Axis Mutual Fund, the going concerns of any of its Schemes for a foreseeable future and on the fair values of all debt and other investments held by
all its schemes as of the Balance Sheet date as a result of prevailing coronavirus pandemic.
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-market’.
The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the Trustee,
are stated below.

For reporting the net asset value within the portfolio, the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of
investments, and expenses accrued, are allocated to the related options in proportionto their respective daily net assets arrived at by multiplyingday-end outstandingunits
by previous day's closing NAV.

Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each plan/Option, after adjusting
an appropriate portion of the sale or re-purchase price to the income equalisation account (in case of open-ended schemes).
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs, CCIL
charges, STT and any other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the purpose of
execution of trades is restricted to 12 bps in case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is
charged to the revenue account of the scheme as part of the total expense ratio.
363
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and
debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued Income
Account’.
Investments in foreign securities are accounted by converting the foreign currency into IndianRupees at the closing exchange rate as per RBI prevailing on the trade date.
Differences in settlement amount on account of difference in exchange rate on the settlement date is recognised as foreign exchange gain /loss in revenue account.

Traded equity and equity related securities are valued at the last quoted closing price on the The National Stock Exchange of India Limited (Principal Stock Exchange). Where
security is not traded on the Principal Stock Exchange, the last quoted closing price of The Bombay Stock Exchange Limited is used.. If an equity and equity related security is not
traded on any stock exchange on a particular valuation day, the value at which it was traded on the principal stock exchange or any other stock exchange, as the case may be,
on the earliest previous day may be used, provided such date is not more than thirty days prior to valuation date.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on valuation date
on the respective stock exchange, settlement price is considered for valuation.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined by
the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Valuation of equity and equity related instrument under lock-in period (post listing) is done based on last quoted closing price after applying suitable discount for illiquidity as
approved by the valuation committee.
Investments in foreign securities (including American Depository Receipts) are valued based on the last closing prices at the overseas stock exchange on which the respective
securities are listed. If a security is listed on overseas stock exchange which is in a time zone ahead of India, then the same day’s closing price on such overseas stock
exchange is used in valuation. If a security is listed on overseas stock exchange which is in a time zone behind India, then the previous day’s closing price or same day's
closing price at 5 pm IST on such overseas stock exchange is used in valuation When on a particular valuation day, a security has not been traded on the selected stock
exchange; the value at which it is traded on another pre-approved stock exchange will be used.
Non traded foreign securities and American Depository Receipts, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as
Valuation of Yes Bank shares (Lock-in for 3 years): W.e.f. March 16, 2020, 75% of shares (Lock-in for 3 years) valued at "Zero". Remaining 25% of shares (available for
trading) is valued as per existing valuation policy of equity and equity related securities.
Interest Rate Futures (IRF) are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available
on valuation date on the respective stock exchange, settlement price is considered for valuation. IRF contracts, which are going to expire on valuation date are valued at
settlement price.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as on the
valuation date. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFIwebsite as
on the valuation date.
As at 31 March 2021, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices obtained from the
valuation agencies (i.e. CRISIL and ICRA). In case of new purchases, which are not a part of the security level pricing of valuation agencies, such securities are valued at
purchase yield on the day of purchase.
During the reporting periods, Government Securities (excluding tbills) are valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL
and ICRA).
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity up to 60 days, were valued on the basis
of amortized cost based on purchase price and subsequent trade price or last valuation price whichever is latest, which includes discount / premium accrued on a straight line
basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the valuation agencies. In case
the amortized value is outside the above band, the price of the security is adjusted to bring the price within the ±0.10% band.
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity greater than 60 days, were valued at the
average of the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of
valuation agencies, such securities were valued at weighted average cost/yield on the day of purchase.
- Tbills with residual maturity up to 30 days, are valued on the basis of amortized cost based on purchase price and subsequent trade price (considered till September 24,
2019) or last valuation price whichever is latest, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within
a ±0.025% band of the price derived as per the reference yields provided by the valuation agencies. In case the amortized value is outside the above band, the price of the
security is adjusted to bring the price within the ±0.025% band.
364
W.e.f. September 25, 2019, irrespective of residual maturity, treasury bills were valued at the average of the security level prices obtained from the valuation agencies (i.e.
CRISIL and ICRA).
From June 20, 2019 to June 29, 2020, all money market and debt securities (excluding government securities and tbills) with residual maturity up to 30 days, were valued
on the basis of amortized cost based on purchase price and subsequent trade price (considered till September 24, 2019) or last valuation price whichever is latest, which
includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.025% band of the price derived as per the
reference yields provided by the valuation agencies. In case the amortized value is outside the above band, the price of the security is adjusted to bring the price within the
±0.025% band.
From June 20, 2019 to June 29, 2020, all debt securities with residual maturity greater than 30 days, were valued at the average of the security level prices obtained from
the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of valuation agencies, such securities are valued
at weighted average cost/yield (from September 25, 2019 at purchase yield) on the day of purchase.
W.e.f. June 30, 2020, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices obtained from
the valuation agencies (i.e. CRISIL and ICRA).. In case of new purchases which are not a part of the security level pricing of valuation agencies, such securities are valued
at purchase yield on the day of purchase.
W.e.f. December 23, 2019, Tri-party repo/Reverse repo/Corporate Bond Repo with residual maturity up to 30 days, are valued at cost plus accrual basis and Tri-party
repo/Reverse repo/Corporate Bond Repo with residual maturity greater than 30 days, are valued at average of security level prices obtained from valuation agencies. In
case security level prices given by valuation agencies are not available (which is currently not held by any Mutual Fund), then such securities are valued at purchase yield
on the date of purchase.
From May 20, 2019 to June 03, 2019, In case of debt securities or money market instruments of an issuer are rated below investment grade while others of a similar
seniority are retained at investment grade, AMC applied the appropriate haircut on such securities if an appropriate discount is not already captured by the valuation
agencies.
Security classified as “below investment grade” and “Default” are valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and
ICRA).
As per SEBI circular dated April 23, 2020, the securities, wherein issuers have rescheduled the payment towards principal/interest solely due to COVID-19 pandemic
lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI), are being valued at the conservative price obtained from valuation agencies.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance
sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.

Income on investments is recognized on accrual basis except where there is uncertainty about ultimate recovery / realization. Such income is recognised when the
uncertainty is resolved.
For quoted shares, the dividend income earned by a scheme is recognized on the date the share is quoted on an ex-dividend basis. For investments in shares which are
not quoted on the stock exchanges, the dividend income is recognised on the date of declaration.
Interest income is recognised on an accrual basis. In respect of discounted securities, the discount to redemption value is amortized and recognised as interest income
equally over the period to redemption.
(e) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three months) and
Tri-Party Repo (including reverse repurchase transactions).
(f) Cash Flow Statements

365

AXISS95 AXISS95 AXISS95 AXISS95 AXISS96 AXISS96 AXISS96 AXISS96
AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES
95 (1185 DAYS) 95 (1185 DAYS) 96 (1124 DAYS) 96 (1124 DAYS)
Initial Capital 90,701,058.000 907,011 90,701,058.000 907,011 46,492,554.000 464,926 46,492,554.000 464,926
Regular Growth
Outstanding, beginning of year 22,308,779.000 223,088 22,308,779.000 223,088 25,128,754.000 251,288 25,128,754.000 251,288
Issued
-new fund offer - - - - - - - -
-during the year - - - - - - - -
Redeemed during the year - - - - - - - -
Outstanding, end of year 22,308,779.000 223,088 22,308,779.000 223,088 25,128,754.000 251,288 25,128,754.000 251,288
Regular IDCW
Outstanding, beginning of year 500.000 5 500.000 5 450,000.000 4,500 450,000.000 4,500
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 500.000 5 500.000 5 450,000.000 4,500 450,000.000 4,500

Outstanding, beginning of year 20,000.000 200 20,000.000 200 1,500.000 15 1,500.000 15
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 20,000.000 200 20,000.000 200 1,500.000 15 1,500.000 15
Regular Half yearly IDCW

Issued
-new fund offer - - - - - - - -
Direct Growth
Issued
-new fund offer - - - - - - - -
Direct IDCW
Outstanding, beginning of year - - - - - - - -
Issued
-new fund offer - - - - - - - -
Outstanding, end of year - - - - - - - -

Outstanding, beginning of year 950.000 10 950.000 10 - - - -
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 950.000 10 950.000 10 - - - -

Issued
-new fund offer - - - - - - - -
Total
Issued
-new fund offer - - - - - - - -
366

AXISS97 AXISS97 AXISS97 AXISS97 AXIS100 AXIS100 AXIS100 AXIS100
AXIS FIXED TERM PLAN - SERIES 97 AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES
(1116 DAYS) 97 (1116 DAYS) 100 (1172 DAYS) 100 (1172 DAYS)
Initial Capital 340,588,208.000 3,405,882 340,588,208.000 3,405,882 22,154,130.000 221,541 22,154,130.000 221,541
Regular Growth
Outstanding, beginning of year 277,373,808.000 2,773,738 277,373,808.000 2,773,738 11,457,044.000 114,570 11,457,044.000 114,570
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 277,373,808.000 2,773,738 277,373,808.000 2,773,738 11,457,044.000 114,570 11,457,044.000 114,570
Regular IDCW
Outstanding, beginning of year 500.000 5 500.000 5 13,500.000 135 13,500.000 135
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 500.000 5 500.000 5 13,500.000 135 13,500.000 135

Outstanding, beginning of year - - - - 23,700.000 237 23,700.000 237
Issued
-new fund offer - - - - - - - -
Outstanding, end of year - - - - 23,700.000 237 23,700.000 237

Outstanding, beginning of year 205,500.000 2,055 205,500.000 2,055 - - - -
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 205,500.000 2,055 205,500.000 2,055 - - - -
Direct Growth
Issued
-new fund offer - - - - - - - -
Direct IDCW
Issued
-new fund offer - - - - - - - -

Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year 500.000 5 500.000 5 - - - -
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 500.000 5 500.000 5 - - - -
Total
Outstanding, beginning of year 340,588,208.000 3,405,882 340,588,208.000 3,405,882 22,154,130.000 221,541 22,154,130.000 221,541
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 340,588,208.000 3,405,882 340,588,208.000 3,405,882 22,154,130.000 221,541 22,154,130.000 221,541
367

AXIS101 AXIS101 AXIS101 AXIS101 AXIS102 AXIS102 AXIS102 AXIS102
AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES
101 (1154 DAYS) 101 (1154 DAYS) 102 (1133 DAYS) 102 (1133 DAYS)
Initial Capital 26,780,030.000 267,800 26,780,030.000 267,800 31,887,200.000 318,872 31,887,200.000 318,872
Regular Growth
Issued
RG -new fund offer - - - - - - - -
RG -during the year - - - - - - - -
RG Redeemed during the year - - - - - - - -
RG Outstanding, end of year 10,327,202.000 103,272 10,327,202.000 103,272 16,160,913.000 161,609 16,160,913.000 161,609
Regular IDCW
Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year 8,000.000 80 8,000.000 80 500.000 5 500.000 5
RQ Issued
RQ -new fund offer - - - - - - - -
RQ -during the year - - - - - - - -
RQ Redeemed during the year - - - - - - - -
RQ Outstanding, end of year 8,000.000 80 8,000.000 80 500.000 5 500.000 5

Outstanding, beginning of year 7,000.000 70 7,000.000 70 - - - -
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 7,000.000 70 7,000.000 70 - - - -
Direct Growth
Issued
-new fund offer - - - - - - - -
Direct IDCW
Issued
-new fund offer - - - - - - - -

Outstanding, beginning of year - - - - 2,000.000 20 2,000.000 20
Issued
-new fund offer - - - - - - - -
Outstanding, end of year - - - - 2,000.000 20 2,000.000 20

Issued
-new fund offer - - - - - - - -
Total
Issued
-new fund offer - - - - - - - -
368
AXIS FIXED TERM PLAN - SERIES AXIS FIXED TERM PLAN - SERIES AXIS EQUITY ADVANTAGE FUND - AXIS EQUITY ADVANTAGE FUND -
104 (1112 DAYS) 104 (1112 DAYS) SERIES 1 SERIES 1
Initial Capital 88,987,188.000 889,872 88,987,188.000 889,872 851,597,743.000 8,515,977 851,597,743.000 8,515,977
Regular Growth
Outstanding, beginning of year 22,274,838.000 222,748 22,274,838.000 222,748 847,951,585.000 8,479,516 847,951,595.000 8,479,516
Issued
RG -during the year - - - - - - (10.000) -
RG Outstanding, end of year 22,274,838.000 222,748 22,274,838.000 222,748 847,951,585.000 8,479,516 847,951,585.000 8,479,516
Regular IDCW
RD Outstanding, beginning of year 14,500.000 145 14,500.000 145 - - - -
RD Issued
RD -new fund offer - - - - - - - -
RD -during the year - - - - - - - -
RD Redeemed during the year - - - - - - - -
RD Outstanding, end of year 14,500.000 145 14,500.000 145 - - - -

Outstanding, beginning of year 61,400.000 614 61,400.000 614 - - - -
RQ Issued
RQ Outstanding, end of year 61,400.000 614 61,400.000 614 - - - -

RH Outstanding, beginning of year 30,000.000 300 30,000.000 300 - - - -
RH Issued
RH -new fund offer - - - - - - - -
RH -during the year - - - - - - - -
RH Redeemed during the year - - - - - - - -
RH Outstanding, end of year 30,000.000 300 30,000.000 300 - - - -
Direct Growth
ZG Outstanding, beginning of year 66,594,950.000 665,950 66,594,950.000 665,950 3,646,148.000 36,461 3,646,148.000 36,461
ZG Issued
ZG -new fund offer - - - - - - - -
ZG -during the year - - - - - - - -
ZG Redeemed during the year - - - - - - - -
ZG Outstanding, end of year 66,594,950.000 665,950 66,594,950.000 665,950 3,646,148.000 36,461 3,646,148.000 36,461
Direct IDCW
ZD Outstanding, beginning of year 5,000.000 50 5,000.000 50 - - - -
ZD Issued
ZD -new fund offer - - - - - - - -
ZD -during the year - - - - - - - -
ZD Redeemed during the year - - - - - - - -
ZD Outstanding, end of year 5,000.000 50 5,000.000 50 - - - -

ZQ Outstanding, beginning of year 2,500.000 25 2,500.000 25 - - - -
ZQ Issued
ZQ -new fund offer - - - - - - - -
ZQ -during the year - - - - - - - -
ZQ Redeemed during the year - - - - - - - -
ZQ Outstanding, end of year 2,500.000 25 2,500.000 25 - - - -

ZH Outstanding, beginning of year 4,000.000 40 4,000.000 40 - - - -
ZH Issued
ZH -new fund offer - - - - - - - -
ZH -during the year - - - - - - - -
ZH Redeemed during the year - - - - - - - -
ZH Outstanding, end of year 4,000.000 40 4,000.000 40 - - - -
Total
Outstanding, beginning of year 88,987,188.000 889,872 88,987,188.000 889,872 851,597,733 8,515,977 851,597,743.000 8,515,977
Issued
-new fund offer - - - - - - - -
-during the year - - - - - - (10.000) -
Outstanding, end of year 88,987,188.000 889,872 88,987,188.000 889,872 851,597,733.000 8,515,977 851,597,733.000 8,515,977
369
AXIS CAPITAL BUILDER

AXIS CAPITAL BUILDER FUND - AXIS CAPITAL BUILDER FUND - AXIS CAPITAL BUILDER FUND -
FUND - SERIES 1 (1540
SERIES 1 (1540 DAYS) SERIES 4 (1582 DAYS) SERIES 4 (1582 DAYS)
DAYS)
Initial Capital 442,249,226.000 4,422,492 442,249,226.000 4,422,492 846,193,513.000 8,461,935 846,193,513.000 8,461,935
Regular Growth
Outstanding, beginning of year 415,454,368.000 4,154,544 415,454,368.000 4,154,544 790,261,931.000 7,902,619 790,261,931.000 7,902,619
Issued
RG -during the year - - - - - - - -
RG Outstanding, end of year 415,454,368.000 4,154,544 415,454,368.000 4,154,544 790,261,931.000 7,902,619 790,261,931.000 7,902,619
Regular IDCW
RD Outstanding, beginning of year 26,011,343.000 260,113 26,011,343.000 260,113 54,905,996.000 549,060 54,905,996.000 549,060
RD Issued
RD -during the year - - - - - - - -
RD Redeemed during the year - - - - - - - -
RD Outstanding, end of year 26,011,343.000 260,113 26,011,343.000 260,113 54,905,996.000 549,060 54,905,996.000 549,060

RQ Issued
RQ Outstanding, end of year - - - - - - - -

RH Outstanding, beginning of year - - - - - - - -
RH Issued
RH -new fund offer - - - - - - - -
RH -during the year - - - - - - - -
RH Redeemed during the year - - - - - - - -
RH Outstanding, end of year - - - - - - - -
Direct Growth
ZG Outstanding, beginning of year 737,925.000 7,379 737,925.000 7,379 1,004,086.000 10,041 1,004,086.000 10,041
ZG Issued
ZG -during the year - - - - - - - -
ZG Redeemed during the year - - - - - - - -
ZG Outstanding, end of year 737,925.000 7,379 737,925.000 7,379 1,004,086.000 10,041 1,004,086.000 10,041
Direct IDCW
ZD Outstanding, beginning of year 35,600.000 356 35,600.000 356 21,500.000 215 21,500.000 215
ZD Issued
ZD -during the year - - - - - - - -
ZD Redeemed during the year - - - - - - - -
ZD Outstanding, end of year 35,600.000 356 35,600.000 356 21,500.000 215 21,500.000 215

ZQ Outstanding, beginning of year - - - - - - - -
ZQ Issued
ZQ -new fund offer - - - - - - - -
ZQ -during the year - - - - - - - -
ZQ Redeemed during the year - - - - - - - -
ZQ Outstanding, end of year - - - - - - - -

ZH Outstanding, beginning of year - - - - - - - -
ZH Issued
ZH -new fund offer - - - - - - - -
ZH -during the year - - - - - - - -
ZH Redeemed during the year - - - - - - - -
ZH Outstanding, end of year - - - - - - - -
Total
Outstanding, beginning of year 442,239,236.000 4,422,392 442,239,236.000 4,422,392 846,193,513.000 8,461,935 846,193,513.000 8,461,935
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 442,239,236.000 4,422,392 442,239,236.000 4,422,392 846,193,513.000 8,461,935 846,193,513.000 8,461,935
370
Rupees in '000
AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN
- SERIES 95 (1185 DAYS) - SERIES 95 (1185 DAYS) - SERIES 96 (1124 DAYS) - SERIES 96 (1124 DAYS) - SERIES 97 (1116 DAYS) - SERIES 97 (1116 DAYS)

Balance, beginning of year 21,022 11,110 - - 11,760 -
investments (5,963) 9,912 3,502 - 21,064 11,760
Balance, end of year 15,059 21,022 3,502 - 32,824 11,760
Retained surplus
Balance, beginning of year 137,620 57,430 23,960 18,566 260,149 153,562
Net Surplus / (Deficit) transferred from revenue account 82,640 80,190 40,905 5,394 310,959 106,587
Balance, end of year 220,260 137,620 64,865 23,960 571,108 260,149
Total reserves 235,319 158,642 68,367 23,960 603,932 271,909
The share of the options in the reserves and surplus

is as follows:
RG Regular Growth 55,714 37,766 35,993 12,423 488,846 219,810
RD Regular IDCW 1 1 645 222 1 -
RQ Regular Quarterly IDCW 50 34 2 1 - -
RH Regular Half yearly IDCW 3 2 15 5 362 163
ZG Direct Growth 179,549 120,837 31,712 11,309 114,723 51,936
ZD Direct IDCW - - - - - -
ZQ Direct Quarterly IDCW 2 2 - - - -
ZH Direct Half yearly IDCW - - - - # -
ZH 235,319 158,642 68,367 23,960 603,932 271,909
5. CURRENT LIABILITIES
Amount due to AMC
- Management fees 146 - 161 232 843 601
Trusteeship fee payable # # # # 2 1
Registrar service fees payable 11 10 5 5 40 36
Commission to distributors payable 247 246 19 19 155 155
Other current liabilities 16 7 16 5 105 81
467 305 236 289 1,249 981
6. INVESTMENTS
Privately placed/ Unlisted debentures and bonds - - - - - -
Listed debentures and bonds 1,022,854 1,017,470 497,970 429,516 3,719,969 3,438,807
Securitised debt - - - - - -
1,022,854 1,017,470 497,970 429,516 3,719,969 3,438,807
Rupees in '000
Equity shares

- appreciation 16,289 21,140 6,092 4,130 50,525 47,210
- depreciation 1,230 118 2,590 4,463 17,700 35,451
Commercial paper
Future
Options
Securitised debt
371
(iii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows: Rupees in '000
to to to to to to
Purchases (excluding Collateralised lending, TRI party
Repo, Fixed deposits)
Other- amount 61,354 44,307 122,535 14,202 787,258 454,464
- as a percentage of average daily net assets 0.06 4.33% 24.02% 3.00% 20.48% 12.81%
Future- amount - - - - - -
Sales (excluding Collateralised lending, TRI party Repo,

Fixed deposits
Other- amount 14,316 - 68,667 28,547 471,167 346,723
- as a percentage of average daily net assets 1.29% - 13.46% 6.04% 12.26% 9.78%
(iv) The aggregate purchases made by all schemes of the fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies which have invested in any
Rupees in '000
valued in good faith 992,423 1,017,470 412,908 429,516 3,538,078 3,133,474
Rupees in '000
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for
derivatives) - - - - - -
- - - - - -
Rupees in '000
Balances with banks in current accounts 2 1 1 1 2 2

Sundry debtors for units issued to investors: - - - - - -
Contracts for sale of investments - - - - - -
Margin deposit with Clearing Corporation of India Limited 400 - 100 - 900 -
Amount due from AMC - 62 - - - -
Reverse Repo and Tri-Party Repo 79,470 11,234 12,708 44,075 132,134 116,161
Options
Other current assets - - - - - -
119,943 48,488 35,559 59,659 291,094 239,965
Rupees in '000
to to to to to to
9. INTEREST
Money market instruments - - - - - -

Collateralised lending, Reverse Repo and Tri-Party Repo 1,591 689 960 672 4,251 2,658
84,196 81,978 40,959 37,186 314,390 306,543
value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the
Schemes have paid management fee at annualised average rate as follows:
to to to to to to
Management fee (excluding GST) at annualised average
rate 0.12% 0.09% 0.27% 0.26% 0.36% 0.35%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is apportioned
to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
372
to to to to to to

investments)
- amount 84,632 81,978 42,398 2,664 328,685 112,198
Expenditure (excluding realised loss on sale of

investment)
- amount 1,992 1,788 1,826 1,688 17,727 16,330
373
Rupees in '000
- SERIES 100 (1172 - SERIES 100 (1172 - SERIES 101 (1154 - SERIES 101 (1154 - SERIES 102 (1133 - SERIES 102 (1133

investments 2,361 2,906 2,624 3,063 2,901 3,889
Retained surplus
Net Surplus / (Deficit) transferred from revenue account 19,468 18,814 23,700 23,410 28,043 27,532
Total reserves 49,078 27,249 57,695 31,371 66,227 35,283

is as follows:
RG Regular Growth 25,010 13,906 21,838 11,897 33,068 17,646
RD Regular IDCW 29 16 16 9 134 72
RQ Regular Quarterly IDCW 52 29 17 9 1 1
RH Regular Half yearly IDCW - - 15 8 - -
ZG Direct Growth 23,987 13,298 35,809 19,448 33,020 17,562
ZQ Direct Quarterly IDCW - - - - 4 2
ZH Direct Half yearly IDCW - - - - - -
ZH 49,078 27,249 57,695 31,371 66,227 35,283
Amount due to AMC
- Management fees 90 149 68 146 89 181
Trusteeship fee payable # # # # # #
Registrar service fees payable 3 2 3 3 4 3
Commission to distributors payable 29 23 26 21 41 38
Other current liabilities 13 107 7 2 8 4
163 303 134 193 172 251
6. INVESTMENTS
Privately placed/ Unlisted debentures and bonds 21,646 21,036 - - - -
Listed debentures and bonds 232,142 211,899 289,849 261,548 340,538 310,012
253,788 232,935 310,668 282,555 371,246 340,998
Equity shares

- appreciation 1,042 431 - - - -
- appreciation 6,667 4,571 7,703 4,717 8,813 5,405
- depreciation 346 - 174 - 258 29
Commercial paper
Future
Options
Securitised debt
- appreciation - - 171 360 253 531
374
(iii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows: Rupees in '000
to to to to to to
Other- amount 12,435 5,031 25,552 - 15,301 6,237
- as a percentage of average daily net assets 4.74% 2.11% 8.10% - 4.10% 1.84%
Future- amount - - - - - -

Fixed deposits
Other- amount - - - - - 516
- as a percentage of average daily net assets - - - - - 0.15%
(iv) The aggregate purchases made by all schemes of the fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies which have invested in any scheme
Rupees in '000
valued in good faith 213,112 227,804 266,679 261,548 303,858 310,012
Rupees in '000
7. DEPOSITS
derivatives) - - - - - -
- - - - - -
Rupees in '000

Sundry debtors for units issued to investors: - - - - - -
Contracts for sale of investments - - - - - -
Margin deposit with Clearing Corporation of India Limited 100 - 100 - 100 -
Options
Other current assets 5 5 - - - -
16,994 16,158 14,961 16,809 14,025 13,408
Rupees in '000
to to to to to to
9. INTEREST
Money market instruments - - - - - -

Collateralised lending, Reverse Repo and Tri-Party Repo 239 217 335 240 408 134
20,069 19,359 24,570 23,971 28,889 28,303

The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net
asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021,
the Schemes have paid management fee at annualised average rate as follows:
to to to to to to
rate 0.05% 0.05% 0.04% 0.04% 0.04% 0.05%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding applicable tax) which is
apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
375
to to to to to to

investments)
- amount 20,069 19,359 24,319 23,971 28,889 28,303

investment)
- amount 601 545 619 561 846 771
376
Rupees in '000
AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN
AXIS EQUITY ADVANTAGE AXIS EQUITY ADVANTAGE
- SERIES 104 (1112 - SERIES 104 (1112
FUND - SERIES 1 FUND - SERIES 1
DAYS) DAYS)

Balance, beginning of year 16,889 777 719,652 1,028,649
investments 8,846 16,112 1,767,918 (308,997)
Balance, end of year 25,735 16,889 2,487,570 719,652
Retained surplus
Balance, beginning of year 71,591 711 264,103 153,211
Net Surplus / (Deficit) transferred from revenue account 74,149 70,880 1,376,526 110,892
Balance, end of year 145,740 71,591 1,640,629 264,103
Total reserves 171,475 88,480 4,128,199 983,755

is as follows:
RG Regular Growth 41,725 21,592 4,107,896 977,935
RD Regular IDCW 27 14 - -
RQ Regular Quarterly IDCW 115 60 - -
RH Regular Half yearly IDCW 56 29 - -
ZG Direct Growth 129,537 66,777 20,303 5,820
ZD Direct IDCW 10 5 - -
ZQ Direct Quarterly IDCW 5 3 - -
ZH Direct Half yearly IDCW - - - -
ZH 171,475 88,480 4,128,199 983,755
Amount due to AMC
- Management fees 126 191 4,055 11,623
Contract for purchase of investments - - - -
Commission to distributors payable 53 51 10,691 9,011
247 295 15,960 21,491
6. INVESTMENTS
Equity shares - - 9,111,344 6,353,074
Privately placed/ Unlisted debentures and bonds - - - -
Listed debentures and bonds 1,000,891 928,529 276,878 1,003,920
Commercial paper - - - 470,073
Securitised debt - - 110,163 264,123
1,000,891 928,529 9,498,385 8,091,190
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the
name of the fund), as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Rupees in '000
- SERIES 104 (1112 - SERIES 104 (1112 AXIS EQUITY ADVANTAGE AXIS EQUITY ADVANTAGE
DAYS) DAYS) FUND - SERIES 1 FUND - SERIES 1
Equity shares
- appreciation - - 2,572,162 799,647
- depreciation - - 85,447 402,554

377
Rupees in '000
- appreciation 25,862 16,889 2,806 3,262
- depreciation 127 - - 14
Commercial paper
- depreciation - - - 3,202
Future
Options
Securitised debt
- depreciation - - 1,951 1,524
(iii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
to to to to
Other- amount 31,384 789,541 4,314,214 3,168,948
Future- amount - - - -
Fixed deposits
Other- amount - 363,377 5,317,596 1,050,696
- as a percentage of average daily net assets - 38.85% 48.22% 10.17%
(iv) The aggregate purchases made by all schemes of the fund during the current year, previous year and the fair value of such investments as at March 31, 2021
in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
valued in good faith 892,177 923,398 387,041 1,537,955
Rupees in '000
7. DEPOSITS
derivatives) - - - -
- - - -
378
Rupees in '000

Sundry debtors for units issued to investors: - - - -
Contracts for sale of investments - - - -
Margin deposit with Clearing Corporation of India Limited 400 - 20,600 -
Reverse Repo and Tri-Party Repo 52,210 42,048 3,087,087 833,747
Options - 536,327
Other current assets - - 2 -
60,703 50,118 3,161,751 1,430,033
Rupees in '000
to to to to
9. INTEREST
Money market instruments - - 26,726 4,933

Fixed deposits - - 259 1,246
Securitised debt - - 22,080 4,116
Collateralised lending, Reverse Repo and Tri-Party Repo 1,317 786 67,116 149,356
75,440 73,986 148,663 162,632
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's
average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes
and fixed deposits including interest thereon as applicable. During the year ended March 31, 2021, the Schemes have paid management fee at annualised average
rate as follows:
Rupees in '000
to to to to
rate 0.02% 0.02% 0.38% 0.35%
(excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per
annum on average net assets of all the schemes.
Rupees in '000
AXIS EQUITY ADVANTAGE AXIS EQUITY ADVANTAGE
- SERIES 104 (1112 - SERIES 104 (1112
FUND - SERIES 1 FUND - SERIES 1
DAYS) DAYS)
to to to to

investments)
- amount 75,440 72,053 1,520,093 244,437

investment)
- amount 1,291 1,173 143,567 133,545
379
Rupees in '000
AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER
AXIS CAPITAL BUILDER FUND
FUND - SERIES 1 (1540 FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
DAYS) DAYS) DAYS)

Balance, beginning of year - 70,589 - 404,567
investments 1,769,233 (70,589) 3,247,128 (404,567)
Balance, end of year 1,769,233 - 3,247,128 -
Retained surplus
Balance, beginning of year (712,654) (46,918) (1,097,639) 77,955
Net Surplus / (Deficit) transferred from revenue account 591,850 (665,736) 1,407,213 (1,175,594)
Balance, end of year (120,804) (712,654) 309,574 (1,097,639)
Total reserves 1,648,429 (712,654) 3,556,702 (1,097,639)

is as follows:
RG Regular Growth 1,548,264 (669,641) 3,321,321 (1,025,194)
RD Regular IDCW 96,939 (41,924) 230,758 (71,230)
RH Regular Half yearly IDCW - - - -
ZG Direct Growth 3,075 (1,039) 4,521 (1,191)
ZD Direct IDCW 151 (50) 102 (24)
ZH Direct Half yearly IDCW - - - -
ZH 1,648,429 (712,654) 3,556,702 (1,097,639)
Amount due to AMC
- Management fees 2,150 2,958 3,886 5,371
Contract for purchase of investments 43,467 2,617 - -
51,200 9,311 15,097 12,752
6. INVESTMENTS
Equity shares 5,343,982 2,983,832 10,909,970 6,969,153
Privately placed/ Unlisted debentures and bonds - - - -
Listed debentures and bonds 641,629 101,729 144,331 -
Securitised debt - - - -
5,985,611 3,085,561 11,054,301 6,969,153
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the name of the fund),
FUND - SERIES 1 (1540 AXIS CAPITAL BUILDER FUND FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
DAYS) - SERIES 1 (1540 DAYS) DAYS) DAYS)
Equity shares
- appreciation 1,872,861 187,807 3,408,014 337,639
- depreciation 80,859 1,075,271 165,734 1,480,846
- appreciation 20,176 1,526 4,223 -
380
Rupees in '000
Commercial paper
Future
- appreciation - - 624 -
Options
- appreciation - 59,591 - -
- depreciation 42,945 - - -
Securitised debt
(iii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
to to to to
Other- amount 1,200,440 2,048,985 2,907,114 2,116,104
Future- amount - - 282,840 -

Fixed deposits
Other- amount 767,507 1,461,481 3,517,859 1,250,812
(iv) The aggregate purchases made by all schemes of the fund during the current year, previous year and the fair value of such investments as at March 31, 2021 in companies
Rupees in '000
valued in good faith 385,698 101,729 144,331 -
381
Rupees in '000
7. DEPOSITS
derivatives) - - 98,200 147,300
- - 98,200 147,300
Rupees in '000
Balances with banks in current accounts 1,213 726 2,118 1,923

Sundry debtors for units issued to investors: - - - 5
Margin deposit with Clearing Corporation of India Limited 700 - 5,900 -
MTM margin receivable - - 1,872 -
Options 4,339 106,875 - -
Other current assets - - 10 -
136,410 633,488 881,233 260,595
Rupees in '000
to to to to
9. INTEREST
Money market instruments 3,095 2,374 - 3,956

Debentures and bonds 25,270 39,609 9,565 10
Fixed deposits 178 353 3,292 11,693
Securitised debt - - - -
36,750 53,058 26,024 37,637
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net
assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest
thereon as applicable. During the year ended March 31, 2021, the Schemes have paid management fee at annualised average rate as follows:

to to to to
rate 0.45% 0.43% 0.40% 0.38%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding
applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net
assets of all the schemes.
Rupees in '000
AXIS CAPITAL BUILDER FUND
FUND - SERIES 1 (1540 FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
DAYS) DAYS) DAYS)
to to to to

investments)
- amount (168,672) 221,041 392,543 88,991
- as a percentage of average daily net assets (3.38)% 4.82% 4.01% 0.96%

investment)
- amount 65,826 60,429 128,536 121,378
382
The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on




Rupees in '000
AXIS FIXED TERM PLAN - SERIES 95 (1185 DAYS)
Axis Asset Management Company Limited Fees for investment management services (including GST) 1,534 1,118 146 -63


383
Rupees in '000
Axis Asset Management Company Limited Fees for investment management services (including GST) 166 147 90 148



AXIS EQUITY ADVANTAGE FUND - SERIES 1

AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS)


Axis Bank Limited Purchase of securities 245,500 147,300 - -
Cipla Limited Purchase of securities 169,614 - - -
Name of sponsor, associates,

AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
employees or their relatives of AMC AXIS FIXED TERM PLAN -
PLAN - SERIES 95 (1185 PLAN - SERIES 96 PLAN - SERIES 96 PLAN - SERIES 97 PLAN - SERIES 97 (1116 PLAN - SERIES 100 PLAN - SERIES 100
(Nature of relation) SERIES 95 (1185 DAYS)
DAYS) (1124 DAYS) (1124 DAYS) (1116 DAYS) DAYS) (1172 DAYS) (1172 DAYS)
Bank charges # # # # # # # #
Commission paid on distribution of units - - - - - - 8 7
Commission paid on distribution of units - - - - - - # #
Name of sponsor, associates,

employees or their relatives of AMC
PLAN - SERIES 101 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 102 PLAN - SERIES 104 PLAN - SERIES 104
(Nature of relation)
(1154 DAYS) (1154 DAYS) (1133 DAYS) (1133 DAYS) (1112 DAYS) (1112 DAYS)
Bank charges # # # # # #
Commission paid on distribution of units 1 1 # # # #
384
Rupees in '000
Name of sponsor, associates, employees AXIS EQUITY AXIS CAPITAL AXIS CAPITAL AXIS CAPITAL AXIS CAPITAL
or their relatives of AMC (Nature of relation) ADVANTAGE FUND - BUILDER FUND - BUILDER FUND - BUILDER FUND - BUILDER FUND -
FUND - SERIES 1
SERIES 1 SERIES 1 (1540 DAYS) SERIES 1 (1540 DAYS) SERIES 4 (1582 DAYS) SERIES 4 (1582 DAYS)
Professional clearing member charges - - - - 10 -
Bank charges 4 3 # # 1 #
Mr.Sugriv Singh rathore (Relative of
AMC Employee)
The Central Depository Services (India)
Ltd (Associate)
Benpos Charges/
Corporate Action Fees /Dispatch of
Consolidated Account Statement
Brokerage on trades 71 - 55 60 325 -
*Includes transaction charges
# Amount less than Rs. 0.5 thousand - - -
Associate have been paid commission on normal commercial terms at a basis of an arm's length for procuring unit subscriptions for the Schemes.
(iv) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement basis where the sponsor or associate
companies have acted as arranger or lead manager.
F.Y. 2020-2021 - Nil
F.Y. 2019-2020 - Nil
13. Investments made during the year in the sponsor company and its group companies at cost Rupees in '000
companies AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM PLAN -
PLAN - SERIES 95 (1185 PLAN - SERIES 96 PLAN - SERIES 96 PLAN - SERIES 97 PLAN - SERIES 97 (1116
SERIES 95 (1185 DAYS)
DAYS) (1124 DAYS) (1124 DAYS) (1116 DAYS) DAYS)
Axis Bank Limited *

companies AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
PLAN - SERIES 100 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 102 PLAN - SERIES 104 PLAN - SERIES 104
(1172 DAYS) (1172 DAYS) (1154 DAYS) (1154 DAYS) (1133 DAYS) (1133 DAYS) (1112 DAYS) (1112 DAYS)
Axis Bank Limited *
Name of sponsor company and its group AXIS EQUITY AXIS CAPITAL AXIS CAPITAL AXIS CAPITAL AXIS CAPITAL
companies ADVANTAGE FUND - BUILDER FUND - BUILDER FUND - BUILDER FUND - BUILDER FUND -
FUND - SERIES 1
SERIES 1 SERIES 1 (1540 DAYS) SERIES 1 (1540 DAYS) SERIES 4 (1582 DAYS) SERIES 4 (1582 DAYS)
Axis Bank Limited *
Investment made by the Scheme - - - - 245,500 147,300

The schemes have not made any investments in derivative products during the year ended at March 31, 2021.
385
15. NET ASSET VALUE AXISS95 AXISS95 AXISS96 AXISS96 Rupees
AXIS FIXED TERM AXIS FIXED TERM

PLAN - SERIES 95 (1185 PLAN - SERIES 95 (1185 AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN
Options DAYS) DAYS) SERIES 96 (1124 DAYS) - SERIES 96 (1124 DAYS)
Regular Growth 12.4974 11.6929 11.4323 10.4944
Regular IDCW 12.5239 11.7040 11.4323 10.4944
Regular Quarterly IDCW 12.4972 11.6927 11.4506 10.5021
Regular Half yearly IDCW 12.5154 11.6999 11.4353 10.4959
Direct Growth 12.6262 11.7674 11.5169 10.5409
Direct IDCW - - - -
Direct Half Yearly IDCW - - - -
Rupees
AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN -
Options SERIES 97 (1116 DAYS) SERIES 97 (1116 DAYS) SERIES 100 (1172 DAYS) SERIES 100 (1172 DAYS)
Regular Growth 11.7624 10.7925 12.1830 11.2138
Regular IDCW 11.7857 10.8033 12.1836 11.2144
Regular Half yearly IDCW 11.7624 10.7925 - -
Direct Growth 11.8208 10.8243 12.2498 11.2472
Direct IDCW - - - -
Direct Half Yearly IDCW 11.8285 10.8265 - -
Rupees
AXIS FIXED TERM PLAN AXIS FIXED TERM

AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - - SERIES 102 (1133 AXIS FIXED TERM PLAN - PLAN - SERIES 104
Options SERIES 101 (1154 DAYS) SERIES 101 (1154 DAYS) SERIES 102 (1133 DAYS) DAYS) SERIES 104 (1112 DAYS) (1112 DAYS)
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
Regular Growth 12.1146 11.1520 12.0462 11.0919 11.8732 10.9694
Regular IDCW 12.1149 11.1524 12.0462 11.0919 11.8732 10.9693
Regular Quarterly IDCW 12.1145 11.1519 12.0512 11.0934 11.8732 10.9694
Regular Half yearly IDCW 12.1150 11.1524 - - 11.8732 10.9694
Direct Growth 12.1792 11.1835 12.1087 11.1216 11.9451 11.0027
Direct IDCW - - - - 11.9466 11.0027
Direct Quarterly IDCW - - 12.1088 11.1208 11.9483 11.0040
Direct Half Yearly IDCW - - - - 11.9451 11.0025
Rupees
AXIS EQUITY AXIS EQUITY AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER AXIS CAPITAL BUILDER
ADVANTAGE FUND - ADVANTAGE FUND - FUND - SERIES 1 (1540 FUND - SERIES 1 (1540 FUND - SERIES 4 (1582 FUND - SERIES 4 (1582
Options SERIES 1 SERIES 1 DAYS) DAYS) DAYS) DAYS)
Regular Growth 14.84 11.15 13.73 8.39 14.20 8.70
Regular IDCW - - 13.73 8.39 14.20 8.70
Direct Growth 15.57 11.60 14.17 8.59 14.50 8.81
Direct IDCW - - 14.17 8.59 14.59 8.87
The net asset value of the Scheme’s units are determined separately for units issued under the options after including the respective unit capital and reserves and surplus.


Rupees in '000
Axis Capital Builder Fund - Series 1 (1540 days) Reliance Industries Limited 8,170 -
Axis Capital Builder Fund - Series 4 (1582 days) Reliance Industries Limited 20,175 -
Axis Equity Advantage Fund - Series 1 Reliance Industries Limited 12,570 -

The Schemes operate in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.

There were no transactions in credit default swaps during the year ended March 31, 2021. (Previous year - Nil).
386

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of
total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside
towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on
monthly basis and the unspent amounts are deployed in TREPS (TRI Party Repo).
Rupees in '000
Încluding amount of Rs. 1,12,08,926.97 pertaining to 50% of the IEP accrual of March-20 which was transferred to AMFI on 08th April 2020 and
excluding amount of Rs. 16,796,059.60/- pertaining to 50% of the IEP accrual of March-21 which was transferred to AMFI on 08th April 2021.
20. Pursuant to SEBI Circular SEBI/HO/IMD/DF3/CIR/P/2020/194 dated October 05, 2020, with effect from April 01, 2021, names of existing dividend
plans / options of schemes have been renamed as IDCW (Income Distribution cum Capital Withdrawal) Plan / Option. "Dividend" has been
replaced with "Distribution (of Income and Capital)" w.e.f. April 01, 2021.




387
B S R & Co. LLP


Axis Hybrid Fund - Series 5 (1346 Days)
Opinion
We have audited the financial statements of Axis Hybrid Fund – Series 5 (1346 Days) (the ‘Scheme’)
of Axis Mutual Fund, which comprise the balance sheet as at 30 September 2020 (the ‘Maturity
Date’) and the revenue account and cash flow statement for the period from 1 April 2020 to
30 September 2020 (the ‘Period’), and notes to the financial statements, including a summary of the
generally accepted in India, of the state of affairs of the Scheme as at the Maturity Date, its deficit
and cash flows for the Period ended on that date.
Basis for Opinion

opinion.
Key Audit Matters

our audit of the financial statements of the current period.
We have determined that there are no key audit matters to communicate in our report.
Registered Office:
388

Axis Mutual Fund – Axis Hybrid Fund – Series 5 (1346 Days)
Other Information
in this regard.
Statements

389

up to the date of our auditor’s report;
related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADX8129
390
B S R & Co. LLP


Opinion
Date’) and the revenue account and cash flow statement for the period from 1 April 2020 to 30
September 2020 (the ‘Period’), and notes to the financial statements, including a summary of the
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
391

Other Information
in this regard.
Statements

392

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADY5971
393
B S R & Co. LLP


Opinion
Date’) and the revenue account and cash flow statement for the period from 1 April 2020 to 30
September 2020 (the ‘Period’), and notes to the financial statements, including a summary of the
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
394

Other Information
in this regard.
Statements

395

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADZ2300
396
B S R & Co. LLP


Opinion
We have audited the financial statements of Axis Hybrid Fund – Series 31 (1381 Days) (the
‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 29 April 2020 (the ‘Maturity
Date’) and the revenue account and cash flow statement for the period from 1 April 2020 to 29 April
2020 (the ‘Period’), and notes to the financial statements, including a summary of the significant
generally accepted in India, of the state of affairs of the Scheme as at the Maturity Date, its surplus
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
397

Other Information
in this regard.
Statements

398

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADR2622
399
B S R & Co. LLP


Opinion
‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 6 May 2020 (the ‘Maturity
Date’) and the revenue account and cash flow statement for the period from 1 April 2020 to 6 May
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
400

Other Information
in this regard.
Statements

401

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADS4650
402
B S R & Co. LLP


Opinion
‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 28 May 2020 (the ‘Maturity
Date’) and the revenue account and cash flow statement for the period from 1 April 2020 to 28 May
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
403

Other Information
in this regard.
Statements

404

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADT1861
405
B S R & Co. LLP


Opinion
‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 20 August 2020 (the
‘Maturity Date’) and the revenue account and cash flow statement for the period from 1 April 2020
to 20 August 2020 (the ‘Period’), and notes to the financial statements, including a summary of the
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
406

Other Information
in this regard.
Statements

407

related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADU7256
408
B S R & Co. LLP


Axis Emerging Opportunities Fund - Series 1 (1400 Days)
Opinion
We have audited the financial statements of Axis Emerging Opportunities Fund - Series 1 (1400
Days) (the ‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 28 October 2020
(the ‘Maturity Date’) and the revenue account and cash flow statement for the period from 1 April
2020 to 28 October 2020 (the ‘Period’), and notes to the financial statements, including a summary
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
409

Axis Mutual Fund – Axis Emerging Opportunities Fund - Series 1
(1400 Days)
Other Information
in this regard.
Statements

410

(1400 Days)
related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADV3872
411
B S R & Co. LLP


Opinion
We have audited the financial statements of Axis Emerging Opportunities Fund - Series 2 (1400
Days) (the ‘Scheme’) of Axis Mutual Fund, which comprise the balance sheet as at 28 December
2020 (the ‘Maturity Date’) and the revenue account and cash flow statement for the period from 1
April 2020 to 28 December 2020 (the ‘Period’), and notes to the financial statements, including a
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
412

(1400 Days)
Other Information
in this regard.
Statements

413

(1400 Days)
related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAADW5057
414
B S R & Co. LLP


Axis Equity Advantage Fund - Series 2
Opinion
We have audited the financial statements of Axis Equity Advantage Fund - Series 2 (the ‘Scheme’)
of Axis Mutual Fund, which comprise the balance sheet as at 2 February 2021 (the ‘Maturity Date’)
and the revenue account and cash flow statement for the period from 1 April 2020 to 2 February
Basis for Opinion

opinion.
Key Audit Matters

Registered Office:
415

Axis Mutual Fund – Axis Equity Advantage Fund - Series 2
Other Information
in this regard.
Statements

override of internal control;\
416

Axis Mutual Fund – Axis Equity Advantage Fund - Series 2
related safeguards.

For B S R & Co. LLP

Milind Ranade
Mumbai Partner
UDIN:21100564AAAAEA5381
417
Balance Sheet
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund -
Series 5 (1346 Days) Series 5 (1346 Days) Series 6 (1324 Days) Series 6 (1324 Days) Series 7 (1305 Days)
September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020 September 30, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 71,793 71,793 32,209 32,209 37,532

Reserves and surplus 2(b) & 4 26,572 26,784 13,439 13,532 15,616
Current liabilities and provisions 5 6,926 5,747 6,981 6,783 8,654
105,291 104,324 52,629 52,524 61,802
Investments 2'(c) & 6 - 56,771 - 26,612 -

Deposits 7 - - - - -
Other current assets 8 105,291 47,553 52,629 25,912 61,802
105,291 104,324 52,629 52,524 61,802

this balance sheet.

Place: Mumbai Jinesh Gopani Ashish Naik Anupam Tiwari Shreyash Devalkar
Date: May 25, 2021 Head-Equity Fund Manager-Equity Fund Manager-Equity Fund Manager-Equity

Head-Fixed Income & Fund Manager Co-Head-Fixed Income & Fund Manager-Fixed Income
Fund Manager
418
Balance Sheet
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund -
Series 7 (1305 Days) Series 31 (1381 Days) Series 31 (1381 Days) Series 32 (1367 Days) Series 32 (1367 Days)
March 31, 2020 April 29, 2020 March 31, 2020 May 06, 2020 March 31, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 37,532 2,278,837 2,278,837 3,382,549 3,382,549

Reserves and surplus 2(b) & 4 15,719 482,903 477,703 703,416 694,637
Current liabilities and provisions 5 5,902 32,726 4,927 47,167 7,701
59,153 2,794,466 2,761,467 4,133,132 4,084,887
Investments 2'(c) & 6 30,634 - 555,456 - 501,097

Deposits 7 - - - - -
Other current assets 8 28,519 2,794,466 2,206,011 4,133,132 3,583,790
59,153 2,794,466 2,761,467 4,133,132 4,084,887

this balance sheet.


Fund Manager
419
Balance Sheet
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Emerging Opportunities Axis Emerging Opportunities
Series 33 (1358 Days) Series 33 (1358 Days) Series 35 (1359 Days) Series 35 (1359 Days) Fund - Series 1 (1400 Days) Fund - Series 1 (1400 Days)
May 28, 2020 March 31, 2020 August 20, 2020 March 31, 2020 October 28, 2020 March 31, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 3,309,719 3,309,719 1,746,051 1,746,051 4,811,021 4,811,021
Reserves and surplus 2(b) & 4 616,290 599,422 154,842 56,408 1,249,681 (200,513)
3,985,437 3,916,678 1,947,151 1,805,881 6,161,837 4,635,681
Investments 2'(c) & 6 - 2,206,286 - 1,355,494 - 3,868,155

Deposits 7 - - - - - 72,500
Other current assets 8 3,985,437 1,710,392 1,947,151 450,387 6,161,837 695,026
3,985,437 3,916,678 1,947,151 1,805,881 6,161,837 4,635,681

this balance sheet.


Fund Manager
420
Balance Sheet
Axis Emerging Opportunities Axis Emerging Opportunities Axis Equity Advantage Axis Equity Advantage
Fund - Series 2 (1400 Days) Fund - Series 2 (1400 Days) Fund - Series 2 Fund - Series 2
December 28, 2020 March 31, 2020 February 02, 2021 March 31, 2020
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 10,613,286 10,613,286 861,059 861,059

Reserves and surplus 2(b) & 4 4,697,551 (771,385) 413,180 113,377
Current liabilities and provisions 5 238,233 44,157 1,299 11,500
15,549,070 9,886,058 1,275,538 985,936
Investments 2'(c) & 6 - 8,244,247 - 650,927

Deposits 7 - 82,500 - 3,000
Other current assets 8 15,549,070 1,559,311 1,275,538 332,009
15,549,070 9,886,058 1,275,538 985,936

this balance sheet.


Fund Manager
421
Revenue Account
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund -
Series 5 (1346 Days) Series 5 (1346 Days) Series 6 (1324 Days) Series 6 (1324 Days) Series 7 (1305 Days) Series 7 (1305 Days)
to to to to to to
September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020
Schedule
INCOME AND GAINS
Dividend 2(d) - - - - - -
Interest 2(d) & 9 2,262 6,579 1,021 3,080 1,190 3,584
(including derivatives), net 2(d) - - - - - -
loss in value of investments 2(c) & 6(ii) 3,477 (3,216) 1,548 (1,441) 1,799 (1,652)
Total 5,739 3,363 2,569 1,639 2,989 1,932
EXPENSES AND LOSSES

(including derivatives), net 2(d) 5,445 320 2,432 138 2,819 185
Management fee 10 189 353 71 115 84 158
GST on management fees 34 64 12 20 16 28
Trusteeship fee 10 # # # # # #
Commission to distributors 239 498 119 254 140 283
Audit fee 9 30 9 30 9 30
Listing fee 7 14 7 14 7 14
Other operating expenses # 1 # # # #
Total 5,951 1,337 2,662 598 3,092 728
(Deficit) / Surplus for the period/year (212) 2,026 (93) 1,041 (103) 1,204
Transfer from/ (to) unrealised appreciation reserve - - - - - -
Dividend distribution tax on dividend distribution - - - - - -
Net (Deficit) / Surplus transferred to the 4 (212) 2,026 (93) 1,041 (103) 1,204
retained surplus



Fund Manager
422
Revenue Account
to to to to to to
April 29, 2020 March 31, 2020 May 06, 2020 March 31, 2020 May 28, 2020 March 31, 2020
Schedule
INCOME AND GAINS
Dividend 2(d) - - - - - -
Interest 2(d) & 9 7,792 150,177 12,988 219,109 27,297 225,547
(including derivatives), net 2(d) - 88,469 - 98,287 - 42,688
Other income - - 378 - - -
loss in value of investments 2(c) & 6(ii) 2,137 (174,252) (16) (212,184) 8,729 (262,262)
Total 9,929 64,394 13,350 105,212 36,026 5,973
EXPENSES AND LOSSES

(including derivatives), net 2(d) 2,407 - 307 - 12,533 -
Management fee 10 1,076 10,991 2,133 16,082 3,105 16,776
GST on management fees 194 1,978 384 2,894 558 3,020
Registrar service charges 71 864 131 1,279 202 1,231
Commission to distributors 901 13,536 1,472 20,229 2,564 18,096
Audit fee 12 31 12 31 12 31
Listing fee 3 39 7 74 12 74
Total 4,729 28,173 4,571 41,678 19,158 40,267
(Deficit) / Surplus for the period/year 5,200 36,221 8,779 63,534 16,868 (34,294)
Transfer from/ (to) unrealised appreciation
reserve - 172,115 16 212,184 - 253,533
distribution - - - - - -
Net (Deficit) / Surplus transferred to the 4 5,200 208,336 8,795 275,718 16,868 219,239
retained surplus



Fund Manager
423
Revenue Account
Axis Hybrid Fund - Axis Hybrid Fund - Axis Emerging Opportunities Axis Emerging Opportunities
Series 35 (1359 Days) Series 35 (1359 Days) Fund - Series 1 (1400 Days) Fund - Series 1 (1400 Days)
to to to to
August 20, 2020 March 31, 2020 October 28, 2020 March 31, 2020
Schedule
INCOME AND GAINS
Dividend 2(d) - - 14,432 61,730

Interest 2(d) & 9 31,387 117,813 20,174 32,970
(including derivatives), net 2(d) - - 386,749 342,681
Other income - - - -
loss in value of investments 2(c) & 6(ii) 84,761 (342,916) 1,070,453 (1,545,035)
Total 116,148 (225,103) 1,491,808 (1,107,654)
EXPENSES AND LOSSES

(including derivatives), net 2(d) 10,022 131,160 - -
Management fee 10 3,427 9,322 13,639 23,930
GST on management fees 616 1,678 2,454 4,308
Trusteeship fee 10 3 10 12 29
Investor education expense 144 416 638 1,172
Custodian service charges 33 108 156 318
Registrar service charges 233 673 1,128 2,076
Commission to distributors 3,191 9,837 23,439 44,420
Audit fee 12 31 44 35
Listing fee 15 39 43 73
Other operating expenses 18 29 61 122
Total 17,714 153,303 41,614 76,483
(Deficit) / Surplus for the period/year 98,434 (378,406) 1,450,194 (1,184,137)

reserve - 258,155 - 474,582
Transfer from retained surplus - - - 33,852
Dividend distribution - - - (64,111)
distribution - - - (8,297)
Net (Deficit) / Surplus transferred to the
retained surplus 4 98,434 (120,251) 1,450,194 (748,111)



Fund Manager
424
Revenue Account
to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 78,933 131,905 4,114 6,749

Interest 2(d) & 9 59,946 67,716 8,533 15,081
(including derivatives), net 2(d) 3,299,502 687,280 390,399 19,205
Other income - 1 - -
loss in value of investments 2(c) & 6(ii) 2,150,356 (3,352,547) (91,129) 4,528
Total 5,588,737 (2,465,645) 311,917 45,563
EXPENSES AND LOSSES

(including derivatives), net 2(d) - - - -
Management fee 10 28,695 35,589 4,933 5,257
GST on management fees 5,164 6,406 888 946
Trusteeship fee 10 34 61 4 5
Investor education expense 1,854 2,518 182 202
Custodian service charges 416 666 48 61
Registrar service charges 3,282 4,458 322 357
Commission to distributors 79,974 112,219 5,668 6,485
Audit fee 45 38 43 33
Listing fee 153 205 16 18
Other operating expenses 184 277 10 15
Total 119,801 162,437 12,114 13,379
(Deficit) / Surplus for the period/year 5,468,936 (2,628,082) 299,803 32,184

reserve - 1,202,192 91,129 (4,529)
Transfer from retained surplus - 117,638 - -
Dividend distribution - (153,598) - -
distribution - (19,879) - -
Net (Deficit) / Surplus transferred to the
retained surplus 4 5,468,936 (1,481,729) 390,932 27,655



Fund Manager
425
Cash Flow Statement

Particulars
to to to to to to
(Deficit) / Surplus for the period/year (212) 2,026 (93) 1,041 (103) 1,204
investments (3,477) 3,216 (1,548) 1,441 (1,799) 1,652
Operating Surplus / (Deficit) before working capital
changes (3,689) 5,242 (1,641) 2,482 (1,902) 2,856
Adjustments for:-
(Increase)/Decrease in investments at cost 60,248 15,121 28,160 7,247 32,433 9,037
(Increase)/Decrease in other current assets 2,154 9,565 1,591 5,478 (756) 6,720
Increase/(Decrease) in current liabilities 1,178 (890) 197 (1,536) 2,751 (2,203)
(Increase)/Decrease in deposits - - - - - -
activities (A) 59,891 29,038 28,307 13,671 32,526 16,410

Increase/(Decrease) in unit capital - - - - - -
Adjustments for:-
Increase/(Decrease) in redemption payable for - - - - - -
Dividend paid (including tax thereon) - - - - - -

activities (B) - - - - - -

equivalents (A) + (B) 59,891 29,038 28,307 13,671 32,526 16,410

year/period 38,652 9,614 17,490 3,819 20,817 4,407
year/period 98,543 38,652 45,797 17,490 53,343 20,817
Component of cash and cash equivalents September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020

Total 98,543 38,652 45,797 17,490 53,343 20,817


Fund Manager
426
Cash Flow Statement

Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Series Axis Hybrid Fund - Series Axis Hybrid Fund - Series Axis Hybrid Fund - Series
Series 31 (1381 Days) Series 31 (1381 Days) 32 (1367 Days) 32 (1367 Days) 33 (1358 Days) 33 (1358 Days)
Particulars
to to to to to to
April 29, 2020 March 31, 2020 May 6, 2020 March 31, 2020 May 28, 2020 March 31, 2020
(Deficit) / Surplus for the period/year 5,200 36,221 8,779 63,534 16,868 (34,294)
investments (2,137) 174,252 16 212,184 (8,729) 262,262
changes 3,063 210,473 8,795 275,718 8,139 227,968
Adjustments for:-
(Increase)/Decrease in investments at cost 557,593 1,344,663 501,081 2,371,278 2,215,015 449,909
(Increase)/Decrease in other current assets (5,060) 598,897 (36,240) 850,675 36,987 877,838
Increase/(Decrease) in current liabilities 27,798 234 39,465 857 51,890 (23)
(Increase)/Decrease in deposits - - - - - -
activities (A) 583,394 2,154,267 513,101 3,498,528 2,312,031 1,555,692

Increase/(Decrease) in unit capital - - - - - -
Adjustments for:-
Increase/(Decrease) in redemption payable for - - - - - -
Dividend paid (including tax thereon) - - - - - -

activities (B) - - - - - -

equivalents (A) + (B) 583,394 2,154,267 513,101 3,498,528 2,312,031 1,555,692

year/period 2,181,285 27,018 3,576,697 78,169 1,617,905 62,213
year/period 2,764,679 2,181,285 4,089,798 3,576,697 3,929,936 1,617,905
Component of cash and cash equivalents April 29, 2020 March 31, 2020 May 6, 2020 March 31, 2020 May 28, 2020 March 31, 2020
Reverse Repo and Tri-Party Repo 2,764,265 2,180,885 4,089,029 3,576,042 3,929,328 1,617,402
Total 2,764,679 2,181,285 4,089,798 3,576,697 3,929,936 1,617,905


Fund Manager
427
Cash Flow Statement

Axis Hybrid Fund - Series Axis Hybrid Fund - Series Axis Emerging Opportunities Axis Emerging Opportunities
35 (1359 Days) 35 (1359 Days) Fund - Series 1 (1400 Days) Fund - Series 1 (1400 Days)
Particulars
to to to to
(Deficit) / Surplus for the period/year 98,434 (378,406) 1,450,194 (1,184,137)
investments (84,761) 342,916 (1,070,453) 1,545,035
changes 13,673 (35,490) 379,741 360,898
Adjustments for:-
(Increase)/Decrease in investments at cost 1,440,255 (247,522) 4,938,608 338,411
(Increase)/Decrease in other current assets 203,472 427,494 (90,020) (3,027)
Increase/(Decrease) in current liabilities 42,835 (620) 88,756 1,608
(Increase)/Decrease in deposits - - 72,500 (52,500)
activities (A) 1,700,235 143,862 5,389,585 645,390

Increase/(Decrease) in unit capital - - - -
Adjustments for:-
Increase/(Decrease) in redemption payable for - - - 666
Dividend paid (including tax thereon) - - (12,795) (59,613)

activities (B) - - (12,795) (58,947)

equivalents (A) + (B) 1,700,235 143,862 5,376,790 586,443

year/period 202,593 58,731 691,095 104,652
year/period 1,902,828 202,593 6,067,885 691,095
Component of cash and cash equivalents August 20, 2020 March 31, 2020 October 28, 2020 March 31, 2020

Reverse Repo and Tri-Party Repo 1,902,436 202,286 6,066,854 675,448
Total 1,902,828 202,593 6,067,885 691,095


Fund Manager
428
Cash Flow Statement

Particulars
to to to to
(Deficit) / Surplus for the period/year 5,468,936 (2,628,082) 299,803 32,184
investments (2,150,356) 3,352,547 91,129 (4,528)
changes 3,318,580 724,465 390,932 27,656
Adjustments for:-
(Increase)/Decrease in investments at cost 10,394,602 817,410 (356,450) 66,611
(Increase)/Decrease in other current assets (211,515) (6,855) 72,586 (114,094)
Increase/(Decrease) in current liabilities 216,422 1,000 (420) (351)
(Increase)/Decrease in deposits 82,500 (52,500) 3,000 -
activities (A) 13,800,589 1,483,520 109,648 (20,178)

Increase/(Decrease) in unit capital - - - -
Adjustments for:-
Increase/(Decrease) in redemption payable for - 711 - -
Dividend paid (including tax thereon) (22,346) (151,131) - -

activities (B) (22,346) (150,420) - -

equivalents (A) + (B) 13,778,243 1,333,100 109,648 (20,178)

year/period 1,551,521 218,421 259,316 279,494
year/period 15,329,764 1,551,521 368,964 259,316
Component of cash and cash equivalents December 28, 2020 March 31, 2020 February 2, 2021 March 31, 2020

Total 15,329,764 1,551,521 368,964 259,316


Fund Manager
429
Schedules to the financial statements for the period from April 1, 2020
ended to the respective maturity dates of schemes (the 'Period')
1. (a) BACKGROUND
In accordance with the Securities and Exchange Board of India('SEBI') (MutualFunds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis
Mutual Fund Trustee Limited ('the Trustee') has appointed Axis Asset ManagementCompany Limited ('the AMC') to manage the Fund's affairs and operate its
Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset Management Company Limited and the
balance 25% plus one equity share is held by Schroders Investment Management(Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders
Singapore Holdings Private Limited (SSHPL), both subsidiaries of Schroders plc.
NFO Close
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income July 05, 2013 Regular Growth
5 (1346 Days) {formerly debt scheme securities that are maturing on or before the maturity of the to Regular IDCW
known as Axis Hybrid Scheme whilst the secondary objective is to generate capital July 19, 2013 Direct Growth
Fund - Series 5} appreciation by investing in equity and equity related Direct IDCW
instruments.
known as Axis Hybrid Scheme whilst the secondary objective is to generate capital August 8, 2013 Direct Growth
instruments.
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income August 16, 2013 Regular Growth
known as Axis Hybrid Scheme whilst the secondary objective is to generate capital August 30, 2013 Direct Growth
instruments.
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income June 29, 2016 Regular Growth
31 (1381 Days) debt scheme securities that are maturing on or before the maturity of the to Regular IDCW
Scheme whilst the secondary objective is to generate capital July 13, 2016 Direct Growth
appreciation by investing in equity and equity related Direct IDCW
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.
Scheme whilst the secondary objective is to generate capital August 03, 2016 Direct Growth
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income August 19, 2016 Regular Growth
Scheme whilst the secondary objective is to generate capital September 02, 2016 Direct Growth
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income November 11, 2016 Regular Growth
Scheme whilst the secondary objective is to generate capital November 25, 2016 Direct Growth
Axis Emerging An Close Ended The scheme aims to generate long term capital appreciation December 09, 2016 Regular Growth
Opportunities Fund - equity scheme by investing in a diversified portfolio of equity & equity related to Regular IDCW
Series 1 (1400 Days) instruments of midcap companies. However, there is no December 23, 2016 Direct Growth
assurance or guarantee that the investment objective of the Direct IDCW
Scheme will be achieved. The Scheme does not assure or
guarantee any returns.
Axis Emerging An Close Ended The scheme aims to generate long term capital appreciation February 03, 2017 Regular Growth
Opportunities Fund - equity scheme by investing in a diversified portfolio of equity & equity related to Regular IDCW
Series 2 (1400 Days) instruments of midcap companies. However, there is no February 17, 2017 Direct Growth
assurance or guarantee that the investment objective of the Direct IDCW
Scheme will be achieved. The Scheme does not assure or
guarantee any returns.
Axis Equity Advantage An Close Ended To generate capital appreciation over medium to long-term July 14, 2017 Regular Growth
Fund - Series 2 equity scheme from a diversified portfolio of predominantly equity & equity to Direct Growth
related instruments. It also aims to manage risk through use July 28, 2017
of active hedging techniques. 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.
430
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other,
or are interdependent or comparable in any way.
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-
market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC
and the Trustee, are stated below.

For reporting the net asset value within the portfolio,the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of
investments, and expenses accrued, are allocated to the related options in proportion to their respective daily net assets arrived at by multiplying day-end
outstanding units by previous day's closing NAV.

Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each plan/Option,after
adjusting an appropriate portion of the sale or re-purchase price to the income equalisation account (in case of open-ended schemes).
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs,
CCIL charges, STT and any other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the
purpose of execution of trades is restricted to 12 bps in case of cash market transactions and 5 bps in case of derivativetransactions. Any cost in excess of the
specified limit is charged to the revenue account of the scheme as part of the total expense ratio.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest
receivable and debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is
credited to ‘Accrued Income Account’.
Investments in foreign securities are accounted by converting the foreign currency into Indian Rupees at the closing exchange rate as per RBI prevailing on the
trade date. Differences in settlement amount on account of difference in exchange rate on the settlement date is recognised as foreign exchange gain /loss in
revenue account.
Traded equity and equity related securities are valued at the last quoted closing price on the The National Stock Exchange of India Limited (Principal Stock
Exchange). Where security is not traded on the Principal Stock Exchange, the last quoted closing price of The Bombay Stock Exchange Limited is used.. If an equity
and equity related security is not traded on any stock exchange on a particular valuation day, the value at which it was traded on the principal stock exchange or any
other stock exchange, as the case may be, on the earliest previous day may be used, provided such date is not more than thirty days prior to valuation date.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on
valuation date on the respective stock exchange, settlement price is considered for valuation.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as
• If such shares do not get listed on recognised stock exchange within 60 days, shares will be valued as per methodology prescribed in SEBI regulation for unlisted
equity shares.
Valuation of equity and equity related instrument under lock-in period (post listing) is done based on last quoted closing price after applying suitable discount for
illiquidity as approved by the valuation committee.
Investments in foreign securities (including American Depository Receipts) are valued based on the last closing prices at the overseas stock exchange on which the
respective securities are listed. If a security is listed on overseas stock exchange which is in a time zone ahead of India, then the same day’s closing price on such
overseas stock exchange is used in valuation. If a security is listed on overseas stock exchange which is in a time zone behind India, then the previous day’s closing
price or same day's closing price at 5 pm IST on such overseas stock exchange is used in valuation When on a particular valuation day, a security has not been
traded on the selected stock exchange; the value at which it is traded on another pre-approved stock exchange will be used.
431
Non traded foreign securities and American Depository Receipts, including those not traded within thirty days prior to the balance sheet date are valued at the fair
value as determined by the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Valuation of Yes Bank shares (Lock-in for 3 years): W.e.f. March 16, 2020, 75% of shares (Lock-in for 3 years) valued at "Zero". Remaining 25% of shares
(available for trading) is valued as per existing valuation policy of equity and equity related securities.
Interest Rate Futures (IRF) are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not
available on valuation date on the respective stock exchange, settlement price is considered for valuation. IRF contracts, which are going to expire on valuation
date are valued at settlement price.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as
on the valuation date. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on
AMFI website as on the valuation date.
As at 31 March 2021, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices obtained
from the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases, which are not a part of the security level pricing of valuation agencies, such securities
are valued at purchase yield on the day of purchase.
During the reporting periods, Government Securities (excluding tbills) are valued at the average of the security level prices obtained from the valuation agencies (i.e.
CRISIL and ICRA).
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity up to 60 days, were valued on
the basis of amortized cost based on purchase price and subsequent trade price or last valuation price whichever is latest, which includes discount / premium
accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided
by the valuation agencies. In case the amortized value is outside the above band, the price of the security is adjusted to bring the price within the ±0.10% band.
Up to June 19, 2019, all money market and debt securities (excluding government securities but including tbills) with residual maturity greater than 60 days, were
valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the
security level pricing of valuation agencies, such securities were valued at weighted average cost/yield on the day of purchase.
- Tbills with residual maturity up to 30 days, are valued on the basis of amortized cost based on purchase price and subsequent trade price (considered till
September 24, 2019) or last valuation price whichever is latest, which includes discount / premium accrued on a straight line basis over the period to maturity as long
as the valuation is within a ±0.025% band of the price derived as per the reference yields provided by the valuation agencies. In case the amortized value is outside
the above band, the price of the security is adjusted to bring the price within the ±0.025% band.
- Tbills with residual maturity greater than 30 days, were valued at the average of the security level prices obtained from the valuation agencies (i.e. CRISIL and
ICRA).
W.e.f. September 25, 2019, irrespective of residual maturity, treasury bills were valued at the average of the security level prices obtained from the valuation
agencies (i.e. CRISIL and ICRA).
From June 20, 2019 to June 29, 2020, all money market and debt securities (excluding government securities and tbills) with residual maturity up to 30 days,
were valued on the basis of amortized cost based on purchase price and subsequent trade price (considered till September 24, 2019) or last valuation price
whichever is latest, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.025%
band of the price derived as per the reference yields provided by the valuation agencies. In case the amortized value is outside the above band, the price of the
security is adjusted to bring the price within the ±0.025% band.
From June 20, 2019 to June 29, 2020, all debt securities with residual maturity greater than 30 days, were valued at the average of the security level prices
obtained from the valuation agencies (i.e. CRISIL and ICRA). In case of new purchases which are not a part of the security level pricing of valuation agencies,
such securities are valued at weighted average cost/yield (from September 25, 2019 at purchase yield) on the day of purchase.
W.e.f. June 30, 2020, all money market and debt securities (including government securities and tbills) are valued at the average of the security level prices
obtained from the valuation agencies (i.e. CRISIL and ICRA).. In case of new purchases which are not a part of the security level pricing of valuation agencies,
such securities are valued at purchase yield on the day of purchase.
W.e.f. December 23, 2019, Tri-party repo/Reverse repo/Corporate Bond Repo with residual maturity up to 30 days, are valued at cost plus accrual basis and Tri-
party repo/Reverse repo/Corporate Bond Repo with residual maturity greater than 30 days, are valued at average of security level prices obtained from valuation
agencies. In case security level prices given by valuation agencies are not available (which is currently not held by any Mutual Fund), then such securities are
valued at purchase yield on the date of purchase.
From May 20, 2019 to June 03, 2019, In case of debt securities or money market instruments of an issuer are rated below investment grade while others of a
similar seniority are retained at investment grade, AMC applied the appropriate haircut on such securities if an appropriate discount is not already captured by the
valuation agencies.
Security classified as “below investment grade” and “Default” are valued at the average of the security level prices obtained from the valuation agencies (i.e.
CRISIL and ICRA).
432
As per SEBI circular dated April 23, 2020, the securities, wherein issuers have rescheduled the payment towards principal/interest solely due to COVID-19
pandemic lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI), are being valued at the conservative price obtained from valuation
agencies.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two
balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.
Income on investments is recognized on accrual basis except where there is uncertainty about ultimate recovery / realization. Such income is recognised when
the uncertainty is resolved.
For quoted shares, the dividend income earned by a scheme is recognized on the date the share is quoted on an ex-dividend basis. For investments in shares
which are not quoted on the stock exchanges, the dividend income is recognised on the date of declaration.
Interest income is recognised on an accrual basis. In respect of discounted securities, the discount to redemption value is amortized and recognised as interest
income equally over the period to redemption.

In case of open-ended scheme, when units are purchased / sold by the Scheme at NAV based price, amount representing unrealised appreciationper unit and
unit premium reserve per unit is credited to Unit Premium Reserve.
The balance amount of the purchase / sale price after reducing the face value of unit is transferred to Income Equalisation account and the net balance in this
account is credited or debited to the Revenue Account at the year end.
(f) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three
months) and Tri-Party Repo (including reverse repurchase transactions).
(g) Cash Flow Statements

433
AXISHS5 AXISHS5 AXISHS5 AXISHS5 AXISHS6 AXISHS6 AXISHS6 AXISHS6
Axis Hybrid Fund - Series 5 (1346 Axis Hybrid Fund - Series 5 (1346 Axis Hybrid Fund - Series 6 (1324 Axis Hybrid Fund - Series 6 (1324
Days) Days) Days) Days)
September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020
Initial Capital 283,991,971.000 2,839,919 283,991,971.000 2,839,919 244,460,443.000 2,444,605 244,460,443.000 2,444,605
RG Regular Growth
RG Outstanding, beginning of year/period 6,973,051.358 69,731 6,973,051.358 69,731 3,141,409.351 31,414 3,141,409.351 31,414
RG Issued
RG Redeemed during the year/period - - - - - - - -
RG Outstanding, end of year/period 6,973,051.358 69,731 6,973,051.358 69,731 3,141,409.351 31,414 3,141,409.351 31,414
RD Regular IDCW
RD Outstanding, beginning of year/period 193,203.000 1,932 193,203.000 1,932 39,480.000 395 39,480.000 395
RD Issued
RD Redeemed during the year/period - - - - - - - -
RD Outstanding, end of year/period 193,203.000 1,932 193,203.000 1,932 39,480.000 395 39,480.000 395
ZG Direct Growth
ZG Outstanding, beginning of year/period 13,000.000 130 13,000.000 130 40,000.000 400 40,000.000 400
ZG Issued
ZG Redeemed during the year/period - - - - - - - -
ZG Outstanding, end of year/period 13,000.000 130 13,000.000 130 40,000.000 400 40,000.000 400
ZD Direct IDCW
ZD Outstanding, beginning of year/period - - - - - - - -
ZD Issued
ZD Redeemed during the year/period - - - - - - - -
ZD Outstanding, end of year/period - - - - - - - -
Total
Issued
-new fund offer - - - - - - - -
434
AXISHS7 AXISHS7 AXISH31 AXISH31 AXISH31 AXISH31 AXISH31 AXISH31
September 30, 2020 March 31, 2020 April 29, 2020 March 31, 2020
Initial Capital 237,555,963.000 2,375,559 237,555,963.000 2,375,559 227,883,685.000 2,278,837 227,883,685.000 2,278,837
RG Regular Growth
RG Outstanding, beginning of year/period 3,753,184.985 37,532 3,753,184.985 37,532 219,791,556.000 2,197,916 219,791,556.000 2,197,916
RG Issued
RG Outstanding, end of year/period 3,753,184.985 37,532 3,753,184.985 37,532 219,791,556.000 2,197,916 219,791,556.000 2,197,916
RD Regular IDCW
RD Outstanding, beginning of year/period - - - - 7,684,439.000 76,844 7,684,439.000 76,844
RD Issued
RD Outstanding, end of year/period - - - - 7,684,439.000 76,844 7,684,439.000 76,844
ZG Direct Growth
ZG Outstanding, beginning of year/period - - - - 401,690.000 4,017 401,690.000 4,017
ZG Issued
ZG Outstanding, end of year/period - - - - 401,690.000 4,017 401,690.000 4,017
ZD Direct IDCW
ZD Outstanding, beginning of year/period - - - - 6,000.000 60 6,000.000 60
ZD Issued
ZD Outstanding, end of year/period - - - - 6,000.000 60 6,000.000 60
Total
Outstanding, beginning of year/period 3,753,184.985 37,532 3,753,184.985 37,532 227,883,685.000 2,278,837 227,883,685.000 2,278,837
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 3,753,184.985 37,532 3,753,184.985 37,532 227,883,685.000 2,278,837 227,883,685.000 2,278,837
435
AXISH32 AXISH32 AXISH32 AXISH32 AXISH33 AXISH33 AXISH33
May 06, 2020 March 31, 2020 May 28, 2020 March 31, 2020
Initial Capital 338,254,889.000 3,382,549 338,254,889.000 3,382,549 330,971,901.000 3,309,719 330,971,901.000 3,309,719
RG Regular Growth
RG Outstanding, beginning of year/period 330,313,143.000 3,303,131 330,313,143.000 3,303,131 317,366,765.000 3,173,668 317,366,765.000 3,173,668
RG Issued
RG Outstanding, end of year/period 330,313,143.000 3,303,131 330,313,143.000 3,303,131 317,366,765.000 3,173,668 317,366,765.000 3,173,668
RD Regular IDCW
RD Outstanding, beginning of year/period 7,718,866.000 77,189 7,718,866.000 77,189 13,288,931.000 132,889 13,288,931.000 132,889
RD Issued
RD Outstanding, end of year/period 7,718,866.000 77,189 7,718,866.000 77,189 13,288,931.000 132,889 13,288,931.000 132,889
ZG Direct Growth
ZG Outstanding, beginning of year/period 190,380.000 1,904 190,380.000 1,904 296,416.000 2,964 296,416.000 2,964
ZG Issued
ZG Outstanding, end of year/period 190,380.000 1,904 190,380.000 1,904 296,416.000 2,964 296,416.000 2,964
ZD Direct IDCW
ZD Outstanding, beginning of year/period 32,500.000 325 32,500.000 325 19,789.000 198 19,789.000 198
ZD Issued
ZD Outstanding, end of year/period 32,500.000 325 32,500.000 325 19,789.000 198 19,789.000 198
Total
Issued
-new fund offer - - - - - - - -
436
AXISH35 AXISH35 AXISH35 AXISH35 AXISEO1 AXISH35 AXISEO1 AXISH35
Axis Hybrid Fund - Series 35 (1359 Axis Hybrid Fund - Series 35 (1359 Axis Emerging Opportunities Axis Emerging Opportunities Fund -
Days) Days) Fund - Series 1 (1400 Days) Series 1 (1400 Days)
Initial Capital 174,655,032.000 1,746,551 174,655,032.000 1,746,551 481,102,033.000 4,811,021 481,102,033.000 4,811,021
RG Regular Growth
RG Outstanding, beginning of year/period 171,428,257.000 1,714,283 171,428,257.000 1,714,283 400,679,066.000 4,006,791 400,679,066.000 4,006,791
RG Issued
RG Outstanding, end of year/period 171,428,257.000 1,714,283 171,428,257.000 1,714,283 400,679,066.000 4,006,791 400,679,066.000 4,006,791
RD Regular IDCW
RD Outstanding, beginning of year/period 2,983,975.000 29,840 2,983,975.000 29,840 78,571,728.000 785,717 78,571,728.000 785,717
RD Issued
RD Outstanding, end of year/period 2,983,975.000 29,840 2,983,975.000 29,840 78,571,728.000 785,717 78,571,728.000 785,717
ZG Direct Growth
ZG Outstanding, beginning of year/period 192,800.000 1,928 192,800.000 1,928 1,745,056.000 17,451 1,745,056.000 17,451
ZG Issued
ZG Outstanding, end of year/period 192,800.000 1,928 192,800.000 1,928 1,745,056.000 17,451 1,745,056.000 17,451
ZD Direct IDCW
ZD Outstanding, beginning of year/period - - - - 106,183.000 1,062 106,183.000 1,062
ZD Issued
ZD Outstanding, end of year/period - - - - 106,183.000 1,062 106,183.000 1,062
Total
Issued
-new fund offer - - - - - - - -
437
AXISEO2 AXISH35 AXISEO2 AXISH35 AXISEA2 AXISH35 AXISEA2 AXISH35
Axis Emerging Opportunities Fund - Axis Emerging Opportunities Fund - Axis Equity Advantage Fund - Axis Equity Advantage Fund -
Series 2 (1400 Days) Series 2 (1400 Days) Series 2 Series 2
Initial Capital 1,061,328,602.000 10,613,286 1,061,328,602.000 10,613,286 86,105,856.000 861,059 86,105,856.000 861,059
RG Regular Growth
RG Outstanding, beginning of year/period 909,467,331.000 9,094,673 909,467,331.000 9,094,673 85,742,003.000 857,420 85,742,003.000 857,420
RG Issued
RG Outstanding, end of year/period 909,467,331.000 9,094,673 909,467,331.000 9,094,673 85,742,003.000 857,420 85,742,003.000 857,420
RD Regular IDCW
RD Outstanding, beginning of year/period 150,820,162.000 1,508,202 150,820,162.000 1,508,202 - - - -
RD Issued
RD Outstanding, end of year/period 150,820,162.000 1,508,202 150,820,162.000 1,508,202 - - - -
ZG Direct Growth
ZG Outstanding, beginning of year/period 1,013,109.000 10,131 1,013,109.000 10,131 363,853.000 3,639 363,853.000 3,639
ZG Issued
ZG Outstanding, end of year/period 1,013,109.000 10,131 1,013,109.000 10,131 363,853.000 3,639 363,853.000 3,639
ZD Direct IDCW
ZD Outstanding, beginning of year/period 28,000.000 280 28,000.000 280 - - - -
ZD Issued
ZD Outstanding, end of year/period 28,000.000 280 28,000.000 280 - - - -
Total
Outstanding, beginning of year/period 1,061,328,602.000 10,613,286 1,061,328,602.000 10,613,286 86,105,856.000 861,059 86,105,856.000 861,059
Issued
-new fund offer - - - - - - - -
Outstanding, end of year/period 1,061,328,602.000 10,613,286 1,061,328,602.000 10,613,286 86,105,856.000 861,059 86,105,856.000 861,059
438
Rupees in '000
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund -
Series 5 (1346 Days) Series 5 (1346 Days) Series 6 (1324 Days) Series 6 (1324 Days)

Net change in marked to market gain / loss in value of investments - - - -
Balance, end of year/period - - - -
Retained surplus
Balance, beginning of year/period 26,784 24,758 13,532 12,491
Net (Deficit) / Surplus transferred from revenue account (212) 2,026 (93) 1,041
Balance, end of year/period 26,572 26,784 13,439 13,532
Total reserves 26,572 26,784 13,439 13,532

-
The share of the plans in the reserves and surplus is as
follows:
RG Regular Growth 25,799 26,005 13,070 13,161
RD Regular IDCW 714 720 164 166
ZG Direct Growth 59 59 205 205
ZD Direct IDCW - - - -
26,572 26,784 13,439 13,532
Amount due to AMC
- Management fees 110 202 48 75
Trusteeship fee payable # # # #
Sundry creditors for units redeemed by investors: - - - -
Commission to distributors payable 38 42 81 67
Custody fees payable 1 1 # #
Investor education expense payable 2 2 # #
Unclaimed Redemption & Dividend 6,748 5,465 6,832 6,611
6. INVESTMENTS
Equity shares - - - -
Listed debentures and bonds - 56,771 - 26,612
INVESTMENTS - 56,771 - 26,612
(i) All the investments were held in the name of the Scheme (except for government securities (including treasury bills) and Tri-party repo which were held in the name
of the fund), as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
Equity shares
- appreciation - 572 - 277
- depreciation - 428 - 171
Options
- depreciation - 3,621 - 1,654
- (3,621) - (1,654)
439
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average daily net assets are
as follows: Rupees in '000
to to to to
Purchases (excluding Collateralised lending, TRI party Repo, Fixed
deposits, Futures and Options)
Other - amount - - - -
Option- amount - - - -
Sales (excluding Collateralised lending, TRI party Repo, Fixed

(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at balance sheet date in
companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
(v) Aggregate fair value of non traded investments valued in
good faith
- 58,469 - 27,385
7. DEPOSITS

- - - -

Outstanding and accrued income - 1,738 - 1,038
Options - 1,698 - 773
Unclaimed Redemption & Dividend (Invested in TREPS) 6,748 5,465 6,832 6,611
105,291 47,553 52,629 25,912
to to to to
9. INTEREST

Debentures and bonds 1,331 5,688 570 2,692
Fixed deposits - - - -
Collateralised lending, Reverse Repo and Tri-Party Repo 931 891 451 388
2,262 6,579 1,021 3,080
440
including interest thereon as applicable. During the period, the Schemes have paid management fee at annualised average rate as follows:
to to to to
Rupees in '000
to to to to
Income (net off realised loss on sale of investment and excluding

net change in marked to market in value of investments)
- amount (3,183) 6,259 (1,411) 2,942
- as a percentage of average daily net assets (6.47)% 6.36% (6.18)% 6.45%
- amount 506 1,017 230 460
441
Rupees in '000

Balance, beginning of year/period - - - 172,115
Net change in marked to market gain / loss in value of investments - - - (172,115)
Retained surplus
Net (Deficit) / Surplus transferred from revenue account (103) 1,204 5,200 208,336
Total reserves 15,616 15,719 482,903 477,703

follows:
RD Regular IDCW - - 16,276 16,100
ZG Direct Growth - - 1,092 1,080
ZD Direct IDCW - - 16 16
15,616 15,719 482,903 477,703
Amount due to AMC
- Management fees 58 105 1,171 2,931
Commission to distributors payable 76 65 1,430 1,716
Custody fees payable # # 22 22
Investor education expense payable # # 44 46
Unclaimed Redemption & Dividend 8,459 5,638 29,787 -
6. INVESTMENTS
Listed debentures and bonds - 30,634 - 555,456
INVESTMENTS - 30,634 - 555,456
Rupees in '000
Equity shares
- depreciation - 214 - 2,381
Options
- depreciation - 1,887 - -
442
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average daily net assets are
as follows:
Rupees in '000
to to to to
Other - amount - - - 1,932,290
- as a percentage of average daily net assets - - - 72.58%

Option- amount - - - 631,779
Rupees in '000
good faith
- 31,523 - 555,456
7. DEPOSITS

- - - -

Reverse Repo and Tri-Party Repo 53,251 20,714 2,764,265 2,180,885
Options - 889 - -
Unclaimed Redemption & Dividend (Invested in TREPS) 8,459 5,638 29,787 -
61,802 28,519 2,794,466 2,206,011
to to to to
9. INTEREST
Money market instruments - - - 6,747

Debentures and bonds 663 3,133 3,131 123,779
Government securities (including treasury bills) - - - 6,735
Collateralised lending, Reverse Repo and Tri-Party Repo 527 451 4,661 12,916
1,190 3,584 7,792 150,177
443
including interest thereon as applicable. During the period, the Schemes have paid management fee at annualised average rate as follows:
to to to to
Rupees in '000
to to to to

- amount (1,629) 3,399 5,385 238,646
- as a percentage of average daily net assets (6.13)% 6.40% 2.46% 8.96%
- amount 273 543 2,322 28,173
444
Rupees in '000

Balance, beginning of year/period 16 212,200 - 253,533
Net change in marked to market gain / loss in value of investments (16) (212,184) - (253,533)
Balance, end of year/period - 16 - -
Retained surplus
Net (Deficit) / Surplus transferred from revenue account 8,795 275,718 16,868 219,239
Total reserves 703,416 694,637 616,290 599,422

follows:
RD Regular IDCW 16,049 15,849 24,738 24,061
ZG Direct Growth 497 490 716 697
ZD Direct IDCW 84 83 48 47
703,416 694,637 616,290 599,422
Amount due to AMC
- Management fees 1,128 4,476 1,510 4,802
Unclaimed Redemption & Dividend 42,954 - 55,501 -
47,167 7,701 59,428 7,537
6. # Amount less than Rs. 0.5 thousand
INVESTMENTS
Listed debentures and bonds - 501,097 - 1,112,558
Certificate of deposit - - - 1,093,728
INVESTMENTS - 501,097 - 2,206,286
Equity shares
- depreciation - 361 - 10,405
Options
- - - -
445
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average daily net assets
are as follows:
Rupees in '000
to to to to
Other - amount 349,728 2,955,505 2,245,543 3,043,935

Other - amount - 200,000 390,000 140,004
Option- amount - 899,469 - 838,245
- as a percentage of average daily net assets - 22.82% - 22.10%
Rupees in '000
good faith
- 501,097 - 1,858,152
7. DEPOSITS

- - - -

Amount due from AMC 2 - - -
Options - - - -
Unclaimed Redemption & Dividend (Invested in TREPS) 42,954 - 55,501 -
4,133,132 3,583,790 3,985,437 1,710,392
to to to to
9. INTEREST
Money market instruments 272 13,403 7,519 16,139

Government securities (including treasury bills) - 15,576 4,457 15,543
12,988 219,109 27,297 225,547
446
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's
average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and
fixed deposits including interest thereon as applicable. During the period, the Schemes have paid management fee at annualised average rate as follows:
to to to to
Rupees in '000
to to to to

- amount 13,059 317,396 14,764 268,235
- amount 4,264 41,678 6,625 40,267
447
Rupees in '000
Axis Hybrid Fund - Axis Hybrid Fund - Axis Emerging Opportunities Fund - Axis Emerging Opportunities Fund -

Balance, beginning of year/period - 258,155 - 474,582
Net change in marked to market gain / loss in value of investments - (258,155) - (474,582)
Retained surplus
Balance, beginning of year/period 56,408 176,659 (200,513) 581,450
Transferred (to) / from revenue account - - - (33,852)
Net (Deficit) / Surplus transferred from revenue account 98,434 (120,251) 1,450,194 (748,111)
Balance, end of year/period 154,842 56,408 1,249,681 (200,513)
Total reserves 154,842 56,408 1,249,681 (200,513)

follows:
RG Regular Growth 151,934 55,300 1,174,664 (65,064)
RD Regular IDCW 2,643 961 68,650 (135,769)
ZG Direct Growth 265 147 6,237 479
ZD Direct IDCW - - 130 (159)
154,842 56,408 1,249,681 (200,513)
Amount due to AMC
- Management fees 822 2,041 1,978 6,634
Sundry creditors for units redeemed by investors: - - - 666
Dividend payable on units - - - 12,795
Commission to distributors payable 848 1,201 4,320 4,275
Unclaimed Redemption & Dividend 44,323 - 93,952 323
46,258 3,422 101,135 25,173
6. INVESTMENTS
Equity shares - - - 3,868,155
Listed debentures and bonds - 816,613 - -
Certificate of deposit - 503,659 - -
Government securities (including treasury bills) - 35,222 - -
INVESTMENTS - 1,355,494 - 3,868,155
Equity shares
- depreciation - - - 1,253,209
- appreciation - 927 - -
- appreciation - 619 - -
Options
- depreciation - 231 - -
(63,637)
448
- - -
Rupees in '000
to to to to
Other - amount - 816,623 774,641 2,126,373
Option- amount - - - 69,931

Other - amount 100,000 100,000 6,093,371 2,656,213
Option- amount 267,485 - - 73,176
- as a percentage of average daily net assets 14.47% - - 1.25%
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at balance sheet date in companies which
have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
good faith
- 1,358,031 - -
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) - - - 72,500

- - - 72,500

Reverse Repo and Tri-Party Repo 1,902,436 202,286 6,066,854 675,448
Options - 186,959 - -
Unclaimed Redemption & Dividend (Invested in TREPS) 44,323 - 93,952 323
1,947,151 450,387 6,161,837 695,026
to to to to
9. INTEREST
Money market instruments 3,960 7,364 - 1,978

Debentures and bonds 13,620 104,858 - -
Fixed deposits - - 1,614 3,191
Government securities (including treasury bills) 639 1,659 - -
31,387 117,813 20,174 32,970
449
During the period, the Schemes have paid management fee at annualised average rate as follows:
to to to to
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 7,00,000/- per month (Rs. 4,00,000/- per month upto December 31, 2020) (excluding
applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets
of all the schemes.
Rupees in '000
to to to to

- amount 21,365 (13,347) 421,355 437,381
- as a percentage of average daily net assets 2.97% (0.64)% 13.22% 7.46%
- amount 7,692 22,143 41,614 76,483
450
Rupees in '000
Axis Emerging Opportunities Fund - Axis Emerging Opportunities Fund - Axis Equity Advantage Fund - Axis Equity Advantage
Series 2 (1400 Days) Series 2 (1400 Days) Series 2 Fund - Series 2

Balance, beginning of year/period - 1,202,192 91,129 86,600
Net change in marked to market gain / loss in value of investments - (1,202,192) (91,129) 4,529
Balance, end of year/period - - - 91,129
Retained surplus
Balance, beginning of year/period (771,385) 827,982 22,248 (5,407)
Transferred (to) / from revenue account - (117,638) - -
Net (Deficit) / Surplus transferred from revenue account 5,468,936 (1,481,729) 390,932 27,655
Balance, end of year/period 4,697,551 (771,385) 413,180 22,248
Total reserves 4,697,551 (771,385) 413,180 113,377

follows:
RG Regular Growth 4,215,711 (538,613) 411,193 112,743
RD Regular IDCW 476,296 (232,545) - -
ZG Direct Growth 5,437 (194) 1,987 634
ZD Direct IDCW 107 (33) - -
4,697,551 (771,385) 413,180 113,377
Amount due to AMC
- Management fees 5,404 9,213 346 1,052
Trusteeship fee payable 4 4 1 #
Sundry creditors for units redeemed by investors: 146 711 - -
Contract for purchase of investments - - - 9,782
Dividend payable on units - 22,346 - -
Commission to distributors payable 11,513 10,294 753 538
Unclaimed Redemption & Dividend 219,160 665 - -
6. INVESTMENTS
Equity shares - 8,244,247 - 650,927
Listed debentures and bonds - - - -
INVESTMENTS - 8,244,247 - 650,927
Equity shares
- appreciation - 408,747 - 82,332
- depreciation - 2,559,102 - 38,813
Options
451
- - - 47,610
Rupees in '000
to to to to
Other - amount 1,775,537 4,166,857 193,776 163,430
Option- amount - 117,989 - -
- as a percentage of average daily net assets - 0.94% - -

Other - amount 15,423,985 5,350,657 1,216,523 125,479
Option- amount - 123,122 - -
- as a percentage of average daily net assets - 0.98% - -
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at balance sheet date in companies which have invested
in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
good faith
- - - -
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) - 82,500 - 3,000
- 82,500 - 3,000

Contracts for sale of investments - - 906,466 -
Outstanding and accrued income - 7,125 108 140
Options - - - 72,553
Unclaimed Redemption & Dividend (Invested in TREPS) 219,160 665 - -
15,549,070 1,559,311 1,275,538 332,009
to to to to
9. INTEREST
Money market instruments - 4,220 - -

Debentures and bonds - - - -
Fixed deposits 2,538 4,647 161 211
59,946 67,716 8,533 15,081
452
During the period, the Schemes have paid management fee at annualised average rate as follows:
to to to to
which is apportioned to all the schemes on the baof their monthly average net assets. Trustee fees charged is subject is to the ceiling of 0.10% per annum on average net assets of all the schemes.
Rupees in '000
to to to to

- amount 3,438,381 886,902 403,046 41,035
- amount 119,801 162,437 12,114 13,379
453
The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard
18 on 'Related Party Disclosures' issued by the Institute of Chartered Accountants of India is provided below.




Rupees in '000
AXIS HYBRID FUND - SERIES 5 (1346 DAYS)
Period ended Year ended Balance as at Balance as at
Name of related party Nature of transactions September 30, 2020 March 31, 2020 September 30, 2020 March 31, 2020
Axis Mutual Fund Trustee Limited Fees for trusteeship services # # # #
Fees for investment management services
Axis Asset Management Company Limited (including GST) 223 417 110 202


454
Rupees in '000

Name of related party Nature of transactions April 29, 2020 March 31, 2020 April 29, 2020 March 31, 2020
Axis Asset Management Company Limited (including GST) 1,270 12,969 1,171 2,932

Name of related party Nature of transactions May 06, 2020 March 31, 2020 May 06, 2020 March 31, 2020
Axis Asset Management Company Limited Receivable for other expenses - - 2 -

Name of related party Nature of transactions May 28, 2020 March 31, 2020 May 28, 2020 March 31, 2020

Name of related party Nature of transactions August 20, 2020 March 31, 2020 August 20, 2020 March 31, 2020
Axis Asset Management Company Limited (including GST) 4,043 11,000 822 2,041

Name of related party Nature of transactions October 28, 2020 March 31, 2020 October 28, 2020 March 31, 2020
Axis Mutual Fund Trustee Limited Fees for trusteeship services 12 29 - 2

Name of related party Nature of transactions December 28, 2020 March 31, 2020 December 28, 2020 March 31, 2020
Axis Mutual Fund Trustee Limited Fees for trusteeship services 34 61 - 4

Name of related party Nature of transactions February 02, 2021 March 31, 2020 February 02, 2021 March 31, 2020
Axis Mutual Fund Trustee Limited Fees for trusteeship services 4 5 - #
Axis Asset Management Company Limited Fees for investment management services 5,821 6,203 346 1,052
(iii) Transactions covered by Regulation 25(8) of the SEBI Regulation with the sponsor, associates, employees or their relatives of AMC: Rupees in '000
Name of sponsor, associates, employees or their AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND -
relatives of AMC (Nature of relation) SERIES 5 (1346 SERIES 5 (1346 SERIES 6 (1324 SERIES 6 (1324 SERIES 7 (1305 SERIES 7 (1305
Period ended Year ended Period ended Year ended Period ended Year ended
Bank charges # # # # # #
Name of sponsor, associates, employees or their AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID
relatives of AMC (Nature of relation) SERIES 31 (1381 SERIES 31 (1381 SERIES 32 (1367 SERIES 32 (1367 SERIES 33 (1358 SERIES 33 (1358 SERIES 35 (1359 FUND - SERIES
DAYS) DAYS) DAYS) DAYS) DAYS) DAYS) DAYS) 35 (1359 DAYS)
Period ended Year ended Period ended Year ended Period ended Year ended Period ended Year ended
April 29, 2020 March 31, 2020 May 06, 2020 March 31, 2020 May 28, 2020 March 31, 2020 August 20, 2020 March 31, 2020
Bank charges 1 # 1 # 1 # 1 #
Commission paid on distribution of units 1,425 12,740 2,538 18,655 3,332 17,094 3,384 9,229
Commission paid on distribution of units # 1 # 21 # 1 1 1
455
Rupees in '000
Name of sponsor, associates, employees or their Axis Emerging Axis Emerging Axis Emerging Axis Emerging
Axis Equity Advantage Axis Equity Advantage
relatives of AMC (Nature of relation) Opportunities Fund - Opportunities Fund - Opportunities Fund - Opportunities Fund -
Fund - Series 2 Fund - Series 2
October 28, 2020 March 31, 2020 December 28, 2020 March 31, 2020 February 02, 2021 March 31, 2020
Professional clearing member charges 13 1 49 3 - -
Bank charges 1 13 3 23 1 #
Commission paid on distribution of units * 23,471 42,262 80,765 109,850 - -
Employee)
(Associate)
Benpos Charges/
Corporate Action Fees /Dispatch of
Consolidated Account Statement - - - -
Brokerage on trades 1,254 179 3,186 300 373 -

Associate companies have been paid commission on normal commercial terms at a basis of an arm's length for procuring unit subscriptions for the Schemes.
(iv) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement basis where the sponsor or
associate companies have acted as arranger or lead manager.
F.Y. Respective maturity date - Nil

F.Y. 2019-2020 - Nil
13. Investments made during the year/period in the sponsor company and its group companies at cost
Rupees in '000
companies AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND -
SERIES 5 (1346 DAYS) SERIES 5 (1346 DAYS) SERIES 6 (1324 DAYS) SERIES 6 (1324 DAYS) SERIES 7 (1305 DAYS) SERIES 7 (1305 DAYS)
Axis Bank Limited *
Name of sponsor company and its group AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID FUND Axis Hybrid Fund - AXIS HYBRID FUND Axis Hybrid Fund -
companies FUND - SERIES Series 31 (1381 FUND - SERIES 32 Series 32 (1367 - SERIES 33 (1358 Series 33 (1358 - SERIES 35 (1359 Series 35 (1359
31 (1381 DAYS) Days) (1367 DAYS) Days) DAYS) Days) DAYS) Days)
Period ended Year ended Period ended Year ended Period ended Year ended Period ended Year ended
Axis Bank Limited *
Name of sponsor company and its group Axis Emerging Axis Emerging Axis Emerging Axis Emerging
companies Opportunities Fund - Opportunities Fund - Opportunities Fund - Opportunities Fund -
Axis Bank Limited *
Investment made by the Scheme 147,300 - 196,400 - 3,000 -
15. NET ASSET VALUE Rupees

AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND -
SERIES 5 (1346 DAYS) SERIES 5 (1346 DAYS) SERIES 6 (1324 DAYS) SERIES 6 (1324 DAYS) SERIES 7 (1305 DAYS) SERIES 7 (1305 DAYS)
Options
RG Regular Growth 13.6994 13.7293 14.1597 14.1895 14.1605 14.1881
RD Regular IDCW 13.6972 13.7271 14.1645 14.1943 - -
ZG Direct Growth 14.6279 14.6143 15.1062 15.0955 - -
AXISEO1 AXISEO2 AXISEA2 Rupees

Axis Emerging Axis Emerging Axis Emerging Axis Emerging
Opportunities Fund - Opportunities Fund - Opportunities Fund - Opportunities Fund -
Options Series 1 (1400 Days) Series 1 (1400 Days) Series 2 (1400 Days) Series 2 (1400 Days)
RG Regular Growth 12.93 9.84 14.64 9.41 14.80 11.31
RD Regular IDCW 10.87 8.27 13.16 8.46 - -
ZG Direct Growth 13.57 10.28 15.36 9.81 15.45 11.75
ZD Direct IDCW 11.23 8.50 13.81 8.82 - -
456
Rupees
AXIS HYBRID FUND - Axis Hybrid Fund - AXIS HYBRID FUND - Axis Hybrid Fund - AXIS HYBRID FUND - Axis Hybrid Fund - AXIS HYBRID FUND - Axis Hybrid Fund -
SERIES 31 (1381 Series 31 (1381 Days) SERIES 32 (1367 Series 32 (1367 Days) SERIES 33 (1358 Series 33 (1358 Days) SERIES 35 (1359 Series 35 (1359 Days)
Options DAYS) DAYS) DAYS) DAYS)
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
Regular Growth 12.1180 12.0952 12.0792 12.0532 11.8615 11.8106 10.8863 10.3226
Regular IDCW 12.1180 12.0952 12.0792 12.0532 11.8616 11.8106 10.8859 10.3222
Direct Growth 12.7150 12.6852 12.5981 12.5638 12.4194 12.3551 11.3618 10.7513
Direct IDCW 12.7159 12.6861 12.5982 12.5638 12.4194 12.3550 - -

Contingent liabilities as on respective maturity date: Nil (Previous year - Nil).

The Schemes operate in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.

There were no transactions in credit default swaps during the year/period ended respective maturity date. (Previous year - Nil).

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in
each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred to AMFI and balance 50%, transferred
to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in TREPS (TRI Party Repo).

Rupees in '000
Încluding amount of Rs. 1,12,08,926.97 pertaining to 50% of the IEP accrual of March-20 which was transferred to AMFI on 08th April 2020 and excluding amount of
Rs. 16,796,059.60/- pertaining to 50% of the IEP accrual of March-21 which was transferred to AMFI on 08th April 2021.
20. Pursuant to SEBI Circular SEBI/HO/IMD/DF3/CIR/P/2020/194 dated October 05, 2020, with effect from April 01, 2021, names of existing dividend plans / options of schemes have
been renamed as IDCW (Income Distribution cum Capital Withdrawal) Plan / Option. "Dividend" has been replaced with "Distribution (of Income and Capital)" w.e.f. April 01, 2021.
21. Since these schemes have matured during the current period, the previous year figures of Revenue Account, Cash Flow Statements and relevant disclosures in notes to accounts
are not comparable with current year figures.


Fund Manager
457
AXIS LIQUID FUND
21. SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRY WISE CLASSIFICATION
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2021 are presented
below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Amount Percentage to Net Percentage to Investment

Industry and Company Particulars Quantity
(Rs. in 000s) Assets category
DEBENTURES AND BONDS

FINANCE 2,350 2,362,984 1.10 100.00
HDB Financial Services Limited* 500 503,017 0.23 21.29
Kotak Mahindra Investments Limited* 850 852,977 0.40 36.10
Mahindra & Mahindra Financial Services Limited* 1,000 1,006,990 0.47 42.61
TOTAL 2,350 2,362,984 1.10 100.00
CERTIFICATE OF DEPOSIT
BANKS 150,000 14,919,513 6.91 90.92
IDFC First Bank Limited* 30,000 2,977,665 1.38 18.15
IndusInd Bank Limited* 30,000 2,979,456 1.38 18.16
RBL Bank Limited* 40,000 3,973,964 1.84 24.22
The Federal Bank Limited* 50,000 4,988,428 2.31 30.39
FINANCE 15,000 1,490,567 0.69 9.08

National Bank For Agriculture and Rural Development 15,000 1,490,567 0.69 9.08
TOTAL 165,000 16,410,080 7.60 100.00
COMMERCIAL PAPER
CEMENT & CEMENT PRODUCTS 15,500 7,711,675 3.58 6.94
UltraTech Cement Limited* 15,500 7,711,675 3.58 6.94
Capital Markets 6,000 2,978,202 1.38 2.68

Kotak Securities Limited* 6,000 2,978,202 1.38 2.68
Construction 1,000 496,691 0.23 0.45

Godrej Properties Limited* 1,000 496,691 0.23 0.45
Consumer Non Durables 3,700 1,838,499 0.85 1.65

Godrej Industries Limited* 3,700 1,838,499 0.85 1.65
FINANCE 76,100 37,872,758 17.53 34.10

Aditya Birla Finance Limited* 5,000 2,489,735 1.15 2.24
Bahadur Chand Investments Pvt Limited* 500 249,139 0.12 0.22
Barclays Investments & Loans (India) Private Limited* 2,000 995,733 0.46 0.90
Birla Group Holdings Private Limited* 4,000 1,975,361 0.92 1.78
Deutsche Investments India Pvt Limited* 2,500 1,239,758 0.57 1.12
Export Import Bank of India 5,000 2,489,263 1.15 2.24
Export Import Bank of India* 4,000 1,992,302 0.92 1.79
Hero Fincorp Limited* 4,000 1,992,250 0.92 1.79
Housing Development Finance Corporation Limited* 4,000 1,994,612 0.92 1.80
ICICI Sec Primary Dealership Limited* 2,000 996,301 0.46 0.90
Kotak Mahindra Prime Limited* 4,600 2,292,146 1.06 2.06
L&T Finance Holdings Limited* 2,000 996,621 0.46 0.90
Muthoot Finance Limited* 7,500 3,725,131 1.73 3.35
National Bank For Agriculture and Rural Development* 12,000 5,972,209 2.77 5.38
Tata Motors Finance Limited* 3,000 1,494,837 0.69 1.35
TMF Holdings Limited* 4,000 1,990,830 0.92 1.79
Oil 10,000 4,981,930 2.31 4.49

Oil & Natural Gas Corporation Limited* 10,000 4,981,930 2.31 4.49
PETROLEUM PRODUCTS 58,400 29,114,580 13.49 26.20

Bharat Petroleum Corporation Limited 5,000 2,498,443 1.16 2.25
Bharat Petroleum Corporation Limited* 7,000 3,492,539 1.62 3.14
Chennai Petroleum Corporation Limited* 1,400 697,971 0.32 0.63
Indian Oil Corporation Limited* 10,000 4,992,757 2.31 4.49
Reliance Industries Limited* 35,000 17,432,870 8.08 15.69
POWER 18,000 8,969,710 4.16 8.07

Jamnagar Utilities & Power Private Limited* 10,000 4,980,106 2.31 4.48
NTPC Limited* 8,000 3,989,604 1.85 3.59
458
AXIS LIQUID FUND (Contd.)

(Rs. in 000s) Assets category
RETAILING 15,000 7,475,821 3.47 6.73

Reliance Retail Ventures Limited* 15,000 7,475,821 3.47 6.73
Telecom - Equipment & Accessories 4,400 2,194,588 1.02 1.98

Indus Towers Limited 4,400 2,194,588 1.02 1.98
Telecom - Services 15,000 7,454,995 3.46 6.71

Reliance Jio Infocomm Limited* 15,000 7,454,995 3.46 6.71
TOTAL 223,100 111,089,449 51.48 100.00
GOVERNMENT SECURITIES 28,225,000 2,841,794 1.31 100.00

7.94% GOI (MD 24/05/2021) 27,925,000 2,811,556 1.30 98.94
8.68% Gujarat SDL (MD 26/05/2021) 300,000 30,238 0.01 1.06
28,225,000 2,841,794 1.31 100.00
TREASURY BILL 639,154,600 63,602,517 29.53 100.00

364 Days Tbill (MD 13/05/2021) 56,000,000 5,579,762 2.59 8.77
364 Days Tbill (MD 03/06/2021) 75,500,000 7,508,467 3.48 11.80
364 Days Tbill (MD 10/06/2021) 5,000,000 496,924 0.24 0.78
364 Days Tbill (MD 27/05/2021) 122,500,000 12,190,061 5.65 19.17
364 Days Tbill (MD 17/06/2021) 30,000,000 2,979,573 1.38 4.68
364 Days Tbill (MD 29/04/2021) 10,000,000 997,665 0.46 1.57
182 Days Tbill (MD 13/05/2021) 66,500,000 6,625,967 3.07 10.42
364 Days Tbill (MD 15/04/2021) 7,500,000 749,129 0.35 1.18
91 Days Tbill (MD 01/04/2021) 154,600 15,460 0.01 0.02
91 Days Tbill (MD 15/04/2021) 4,000,000 399,536 0.19 0.63
91 Days Tbill (MD 22/04/2021) 25,000,000 2,495,620 1.16 3.92
91 Days Tbill (MD 13/05/2021) 29,500,000 2,939,339 1.36 4.62
91 Days Tbill (MD 27/05/2021) 105,000,000 10,448,624 4.87 16.43
91 Days Tbill (MD 11/06/2021) 37,500,000 3,726,443 1.73 5.86
91 Days Tbill (MD 17/06/2021) 30,000,000 2,979,573 1.38 4.68
91 Days Tbill (MD 30/06/2021) 35,000,000 3,470,374 1.61 5.47
TOTAL 639,154,600 63,602,517 29.53 100.00
OTHER CURRENT ASSETS 23,560,373 10.92
TOTAL ASSETS 219,867,197 101.94
LESS: CURRENT LIABILITIES 4,181,910 1.94
NET ASSETS 215,685,287 100.00
* Non traded / thinly traded investments
459
AXIS TREASURY ADVANTAGE FUND
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2021 are
presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Percentage to
Amount Percentage to Net
Industry and Company Particulars Quantity Investment
(Rs. in 000s) Assets
category

Auto Ancillaries 750 757,269 0.88 1.98
Motherson Sumi Systems Limited* 750 757,269 0.88 1.98

Grasim Industries Limited* 900 928,876 1.08 2.43
UltraTech Cement Limited* 250 254,620 0.30 0.67
Consumer Non Durables 200 210,638 0.24 0.55

Food Corporation Of India 200 210,638 0.24 0.55
CONSTRUCTION 400 484,600 0.56 1.27

Embassy Office Parks REIT* 400 484,600 0.56 1.27
CONSTRUCTION PROJECT 1,000 1,031,596 1.19 2.70

National Highways Auth Of Ind* 500 511,318 0.59 1.34
Larsen & Toubro Limited* 500 520,278 0.60 1.36
Ferrous Metals 614 1,093,106 1.27 2.86

Tata Steel Limited* 614 1,093,106 1.27 2.86
FINANCE 1,167,579 32,210,443 37.39 84.38

Aadhar Housing Finance Limited* 900,950 1,875,224 2.18 4.91
Air India Assets Holding Limited* 250 258,064 0.30 0.68
Cholamandalam Investment and Finance Company Limited* 1,550 1,549,330 1.80 4.06
HDB Financial Services Limited* 1,500 1,677,623 1.95 4.39
Housing Development Finance Corporation Limited 2,470 2,529,470 2.94 6.63
Indian Railway Finance Corporation Limited* 1,670 1,682,851 1.95 4.41
L & T Infrastructure Finance Company Limited* 1,350 1,384,145 1.61 3.63
LIC Housing Finance Limited* 1,910 1,985,289 2.30 5.20
Mahindra Rural Housing Finance Limited* 1,500 1,518,756 1.76 3.98
Muthoot Finance Limited* 239,100 1,865,778 2.17 4.89
Power Finance Corporation Limited* 1,190 1,214,007 1.41 3.18
REC Limited 750 764,293 0.89 2.00
REC Limited* 1,855 1,887,250 2.19 4.94
Small Industries Dev Bank of India 55 55,919 0.06 0.15
Small Industries Dev Bank of India* 259 262,108 0.30 0.69
Tata Capital Financial Services Limited* 1,200 1,330,843 1.55 3.48
Tata Motors Finance Limited* 750 749,383 0.87 1.96
TMF Holdings Limited* 350 423,989 0.49 1.11
PETROLEUM PRODUCTS 100 101,387 0.12 0.27

Reliance Industries Limited* 100 101,387 0.12 0.27
POWER 790 813,631 0.94 2.12

India Grid Trust InvIT Fund* 250 260,072 0.30 0.68
Nabha Power Limited* 500 501,188 0.58 1.30
Power Grid Corporation of India Limited* 40 52,371 0.06 0.14
Telecom - Services 300 294,486 0.34 0.77

Bharti Hexacom Limited 300 294,486 0.34 0.77
TOTAL 1,172,883 38,180,652 44.31 100.00
460
AXIS TREASURY ADVANTAGE FUND (CONTD.)
Percentage to
category
BANKS 32,500 3,235,573 3.76 100.00
Bank of Baroda 25,000 2,487,255 2.89 76.87
Bank of Baroda* 7,500 748,318 0.87 23.13
TOTAL 32,500 3,235,573 3.76 100.00
COMMERCIAL PAPER
Construction Project 1,000 494,453 0.57 3.11
Larsen & Toubro Limited 1,000 494,453 0.57 3.11
FINANCE 21,400 10,588,204 12.31 66.63

Export Import Bank of India 1,000 495,997 0.58 3.12
Export Import Bank of India* 2,000 984,442 1.14 6.19
Housing Development Finance Corporation Limited* 600 298,499 0.36 1.89
Kotak Mahindra Investments Limited* 2,000 974,441 1.13 6.13
L & T Infrastructure Finance Company Limited* 1,500 747,995 0.87 4.71
SBI Cards and Payment Services Limited* 2,500 1,225,689 1.42 7.71

Reliance Industries Limited 700 347,704 0.40 2.19
Power 2,000 997,616 1.16 6.28

Jamnagar Utilities & Power Private Limited* 2,000 997,616 1.16 6.28
TELECOM - SERVICES 7,000 3,466,670 4.02 21.79

Bharti Hexacom Limited* 2,000 982,130 1.14 6.16
Reliance Jio Infocomm Limited* 5,000 2,484,540 2.88 15.63
TOTAL 32,100 15,894,647 18.46 100.00
Securitised Debt
COMMERCIAL SERVICES 89 842,140 0.98 100.00
First Business Receivables Trust* 89 842,140 0.98 100.00
TOTAL 89 842,140 0.98 100.00
TREASURY BILL 110,000,000 10,939,908 12.72 100.00

364 Days Tbill (MD 20/05/2021) 25,500,000 2,539,076 2.95 23.21
364 Days Tbill (MD 01/07/2021) 40,000,000 3,967,360 4.62 36.26
364 Days Tbill (MD 22/04/2021) 29,500,000 2,944,832 3.42 26.92
182 Days Tbill (MD 27/05/2021) 5,000,000 497,554 0.58 4.55
182 Days Tbill (MD 08/07/2021) 10,000,000 991,086 1.15 9.06
TOTAL 110,000,000 10,939,908 12.72 100.00

8.83% GOI (MD 25/11/2023) 10,000,000 1,095,469 1.27 14.08
7.37% GOI (MD 16/04/2023) 2,500,000 263,770 0.31 3.39
7.32% GOI (MD 28/01/2024) 8,000,000 849,786 0.99 10.92
8.35% GOI (MD 14/05/2022) 10,000,000 1,046,508 1.21 13.45
8.13% GOI (MD 21/09/2022) 18,000,000 1,899,841 2.21 24.42
8.79% GOI (MD 08/11/2021) 2,500,000 257,638 0.30 3.31
8.65% Karnataka SDL(MD 25/01/2022) 5,000,000 518,369 0.60 6.66
8.21% Rajasthan UDAY BOND (MD 31/03/2022) 4,000,000 414,750 0.48 5.33
8.71% Haryana SDL (MD 25/01/2022) 2,500,000 259,249 0.30 3.33
9.09% Tamilnadu SDL (MD 19/10/2021) 500,000 51,453 0.06 0.66
4.45% Maharashtra SDL (MD 10/06/2022) 5,000,000 500,547 0.56 6.43
9.19% Karnataka SDL (MD 09/11/2021) 1,000,000 103,228 0.12 1.33
461
AXIS TREASURY ADVANTAGE FUND (CONTD.)
Percentage to
category
9.17% Andhra pradesh SDL (MD 09/11/2021) 1,000,000 103,211 0.12 1.35
9.19% Tamil Nadu SDL (MD 09/11/2021) 1,000,000 103,235 0.12 1.33
8.66% Maharashtra SDL (MD 25/01/2022) 500,000 51,845 0.06 0.67
8.69% Karnatak SDL (MD 08/02/2022) 1,500,000 155,802 0.18 2.00
TOTAL 74,000,000 7,779,135 9.01 100.00
TOTAL ASSETS 88,008,438 102.17
NET ASSETS 86,135,825 100.00
462
AXIS BANKING & PSU DEBT FUND
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2021
are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Percentage to
Amount Percentage to
(Rs. in '000) Net Assets
category

BANKS 7,960 8,265,310 4.82 5.85
Bank of Baroda* 1,300 1,353,486 0.79 0.96
ICICI Bank Limited* 2,460 2,584,776 1.51 1.83
State Bank of India 1,150 1,129,566 0.66 0.80
State Bank of India* 3,050 3,197,482 1.86 2.26
CEMENT & CEMENT PRODUCTS 60 61,925 0.04 0.04

Grasim Industries Limited* 60 61,925 0.04 0.04
CONSTRUCTION 4,175 4,302,276 2.51 3.04

National Highways Auth Of Ind 1,230 1,270,890 0.74 0.90
National Highways Auth Of Ind* 2,945 3,031,386 1.77 2.14
CONSTRUCTION PROJECT 750 781,241 0.45 0.55

Larsen & Toubro Limited* 750 781,241 0.45 0.55
CONSUMER NON DURABLES 11,458 12,067,440 7.03 8.54

Food Corporation Of India 11,458 12,067,440 7.03 8.54
FINANCE 88,368 91,662,932 53.37 64.82

Aditya Birla Finance Limited* 500 501,505 0.29 0.35
Air India Assets Holding Limited* 1,250 1,290,318 0.75 0.91
Bajaj Finance Limited* 60 61,856 0.04 0.04
Export Import Bank of India* 2,997 3,166,168 1.84 2.24
HDB Financial Services Limited 1,000 1,036,007 0.60 0.73
HDB Financial Services Limited* 3,250 3,366,667 1.96 2.38
National Housing Bank* 2,650 2,697,463 1.57 1.91
Power Finance Corporation Limited 615 637,018 0.37 0.45
REC Limited 650 668,063 0.39 0.47
REC Limited* 14,069 14,583,759 8.50 10.32
Small Industries Dev Bank of India* 11,415 11,750,878 6.85 8.31

Bharat Petroleum Corporation Limited* 250 259,488 0.15 0.18
Hindustan Petroleum Corporation Limited* 6,020 6,224,355 3.62 4.40
Indian Oil Corporation Limited 3,800 3,830,028 2.23 2.71
Indian Oil Corporation Limited* 1,250 1,290,826 0.75 0.91
POWER 15,871 12,065,165 7.02 8.55

Jamnagar Utilities & Power Private Limited* 200 206,393 0.12 0.15
NHPC Limited* 5,500 1,138,656 0.66 0.81
NTPC Limited* 7,190 7,474,621 4.35 5.29
Power Grid Corporation of India Limited* 2,981 3,245,495 1.89 2.30
TOTAL 140,512 141,381,807 82.32 100.00
TREASURY BILL 10,000,000 995,107 0.58 100.00

182 Days Tbill (MD 27/05/2021) 10,000,000 995,107 0.58 100.00
TOTAL 10,000,000 995,107 0.58 100.00
463
AXIS BANKING & PSU DEBT FUND (CONTD.)
Percentage to
category
7.16% GOI (MD 20/05/2023) 22,500,000 2,367,891 1.38 14.11
8.83% GOI (MD 25/11/2023) 14,000 1,534 # 0.01
6.84% GOI (MD 19/12/2022) 82,500,000 8,598,835 5.01 51.23
7.32% GOI (MD 28/01/2024) 21,000,000 2,230,687 1.30 13.29
6.18% GOI (MD 04/11/2024) 2,000,000 205,820 0.12 1.23
5.79% GOI (MD 11/05/2030) 500,000 47,876 0.03 0.29
4.48% GOI (MD 02/11/2023) 3,000,000 298,639 0.17 1.78
3.96% GOI (MD 09/11/2022) 10,000,000 997,222 0.58 5.94
6.17% GOI 2023 (MD. 12/06/2023) 2,000 207 # #
7% Fertilizer Co SPL GOI 2022 (MD 10/12/2022) 500,000 51,836 0.03 0.31
7.35% GOI (MD 22/06/2024) 2,000 213 # #
8.13% GOI (MD 21/09/2022) 5,000,000 527,734 0.31 3.14
8.39% Rajasthan UDAY BOND(MD 15/03/2022) 200,000 20,740 0.01 0.12
8.39% Rajasthan UDAY BOND(MD 15/03/2023) 341,000 36,082 0.02 0.21
8.21% Rajasthan UDAY BOND(MD 31/03/2023) 2,500,000 263,991 0.15 1.57
8.27% Rajasthan UDAY BOND (MD 23/06/2023) 3,000,000 318,337 0.19 1.90
8.92% Uttar Pradesh SDL (MD 20/06/2022) 423,600 44,522 0.03 0.27
5.9% TELANGANA SDL (MD 27/05/2025) 2,335,000 233,364 0.14 1.39
8.04% Chattisgarh SDL (MD 20/03/2026) 5,000,000 537,664 0.31 3.20
8.85% Maharashtra SDL (MD 18/07/2022) 18,000 1,896 # 0.01
TOTAL 160,835,600 16,785,090 9.78 100.00
TOTAL ASSETS 177,828,132 103.55
NET ASSETS 171,733,749 100.00

# Percentage less than 0.01
464
Percentage to
category

AUTO ANCILLARIES 1,000 1,009,692 0.86 1.34
Motherson Sumi Systems Limited* 1,000 1,009,692 0.86 1.34
BANKS 9,150 9,038,198 7.68 12.01

Bank of Baroda* 1,600 1,603,068 1.36 2.13
HDFC Bank Limited* 50 54,618 0.05 0.07
ICICI Bank Limited* 500 501,693 0.43 0.67
Indian Bank* 950 932,019 0.79 1.24
State Bank of India* 2,250 2,214,322 1.88 2.94

CONSTRUCTION 1,905 2,171,564 1.85 2.89

Embassy Office Parks REIT* 1,155 1,399,283 1.19 1.86
National Highways Auth Of Ind 500 516,622 0.44 0.69
CONSTRUCTION PROJECT 1,100 1,141,013 0.97 1.52

Larsen & Toubro Limited* 1,100 1,141,013 0.97 1.52
Consumer Non Durables 4,560 4,802,457 4.09 6.37

Food Corporation Of India 4,550 4,792,010 4.08 6.36
Food Corporation Of India* 10 10,447 0.01 0.01
FINANCE 45,916 47,264,812 40.20 62.76

Aditya Birla Finance Limited* 800 885,658 0.75 1.18
Export Import Bank of India* 5 5,138 # 0.01
HDB Financial Services Limited 500 518,004 0.44 0.69
India Infradebt Limited* 259 261,564 0.22 0.35
Indian Railway Finance Corporation Limited* 600 605,231 0.51 0.80
L & T Infrastructure Finance Company Limited* 250 256,406 0.22 0.34
LIC Housing Finance Limited 250 250,271 0.21 0.33
REC Limited 700 733,568 0.62 0.97
REC Limited* 5,262 5,428,700 4.62 7.21
Sundaram Finance Limited* 1,250 1,248,081 1.06 1.66

Reliance Industries Limited 2,400 2,489,088 2.12 3.30
465
AXIS SHORT TERM FUND (CONTD.)
Percentage to
category
POWER 3,640 3,750,958 3.19 4.97

India Grid Trust InvIT Fund* 2,040 2,120,049 1.80 2.84
Jamnagar Utilities & Power Private Limited* 550 574,494 0.49 0.76
Nabha Power Limited* 900 901,388 0.77 1.20
NTPC Limited* 100 103,857 0.09 0.14
TRANSPORTATION 1,040 1,074,583 0.91 1.43

Sikka Ports and Terminals Limited* 1,040 1,074,583 0.91 1.43
TOTAL 73,211 75,313,479 64.06 100.00
BANKS 47,500 4,695,555 3.99 95.10
Bank of Baroda 7,500 746,177 0.63 15.11
IDFC First Bank Limited* 10,000 996,855 0.85 20.19
IndusInd Bank Limited* 10,000 961,357 0.82 19.47
RBL Bank Limited* 20,000 1,991,166 1.69 40.33
FINANCE 2,500 241,714 0.21 4.90

National Bank For Agriculture and Rural Development* 2,500 241,714 0.21 4.90
TOTAL 50,000 4,937,269 4.20 100.00
COMMERCIAL PAPER
FINANCE 10,500 5,157,084 4.40 64.63
Export Import Bank of India 3,000 1,487,991 1.27 18.65
Kotak Mahindra Investments Limited* 1,000 481,347 0.41 6.03
LIC Housing Finance Limited* 1,000 494,464 0.42 6.20
Sundaram Finance Limited* 3,500 1,699,546 1.45 21.30
Petroleum Products 5,700 2,823,347 2.41 35.37

TOTAL 16,200 7,980,431 6.81 100.00
SECURITISED DEBT
COMMERCIAL SERVICES 615 1,945,030 1.66 100.00
First Business Receivables Trust* 175 1,500,337 1.28 77.14
RENT-A-DEVICE TRUST* 440 444,693 0.38 22.86
TOTAL 615 1,945,030 1.66 100.00
TREASURY BILL 6,500,000 646,911 0.55 100.00

364 Days Tbill (MD 20/05/2021) 1,500,000 149,357 0.13 23.09
182 Days Tbill (MD 27/05/2021) 5,000,000 497,554 0.42 76.91
TOTAL 6,500,000 646,911 0.55 100.00

9.20% GOI (MD 30/09/2030) 500,000 58,892 0.05 0.30
8.83% GOI (MD 25/11/2023) 26,025,000 2,850,958 2.40 14.36
8.60% GOI (MD 02/06/2028) 35,000 3,935 # 0.02
8.15% GOI (MD 24/11/2026) 210,000 23,019 0.02 0.12
7.68% GOI (MD 15/12/2023) 219,200 23,444 0.02 0.12
7.88% GOI (MD 19/03/2030) 200 22 # #
8.13% GOI (MD 22/06/2045) 1,000,000 115,747 0.10 0.58
7.73% GOI (MD 19/12/2034) 392,500 42,776 0.04 0.22
7.59% GOI (MD 20/03/2029) 20,800 2,224 # 0.01
7.59% GOI(MD 11/01/2026) 955,600 102,078 0.09 0.51
466
AXIS SHORT TERM FUND (CONTD.)
Percentage to
category
6.84% GOI (MD 19/12/2022) 500,000 52,114 0.04 0.26

6.79% GOI (MD 26/12/2029) 68,700 7,016 0.01 0.04
6.79% GOI (MD 15/05/2027) 590,400 60,894 0.05 0.31
7.17% GOI (MD 08/01/2028) 571,700 59,824 0.05 0.30
7.37% GOI (MD 16/04/2023) 2,511,400 264,973 0.23 1.33
7.26% GOI (MD 14/01/2029) 5,500,000 577,305 0.49 2.91
7.27% GOI (MD 08/04/2026) 25,500,000 2,691,512 2.29 13.55
6.45% GOI (MD 07/10/2029) 1,000,000 100,387 0.09 0.51
10.25% GOI 2021 M/D. 30/05/2021. 20,700 2,094 # 0.01
5.79% GOI (MD 11/05/2030) 6,600 632 # #
6.19% GOI (MD 16/09/2034) 280,300 26,820 0.02 0.14
8.35% GOI (MD 14/05/2022) 150,000 15,698 0.01 0.08
5.85% GOI (MD 01/12/2030) 31,100 3,041 # 0.02
7.94% GOI (MD 24/05/2021) 10,500 1,057 # 0.01
8.13% GOI Oil Bonds (MD 16/10/2021) 6,000,000 614,451 0.52 3.09
8.20% GOI (MD 15/02/2022) 24,000 2,490 0.00 0.01
8.13% GOI (MD 21/09/2022) 5,140,000 542,510 0.46 2.73
8.79% GOI (MD 08/11/2021) 1,078,000 111,094 0.09 0.56
8.97% GOI (MD 05/12/2030) 9,000 1,047 # 0.01
8.15% GOI (MD 11/06/2022) 5,005,000 523,683 0.45 2.64
8.20% GOI (MD 24/09/2025) 60,000 6,551 0.01 0.03
8.69% Karnatka SDL (MD 11/01/2022) 7,500,000 776,480 0.66 3.91
7.98% Karnataka SDL (14/10/2025) 500,000 53,995 0.05 0.27
8.27% Tamilnadu SDL (MD 13/01/2026) 3,000,000 324,936 0.28 1.64
8.27% Gujarat SDL (MD 13/01/2026) 1,000,000 108,451 0.09 0.55
8.29% Andhra Pradesh SDL (MD 13/01/2026) 3,600,000 389,668 0.33 1.96
8.38% Tamil Nadu SDL (MD 27/01/2026) 1,000,000 108,823 0.09 0.55
8.39% Madhya Pradesh SDL (MD 27/01/2026) 500,000 54,335 0.05 0.27
8.51% Haryana SDL (MD 10/02/2026) 7,000,000 765,769 0.65 3.86
8.83% Uttar Pradesh SDL (MD 24/02/2026) 8,300,000 917,430 0.78 4.62
8.69% Kerala SDL (MD 24/02/2026) 4,000,000 440,945 0.38 2.22
8.65% Karnataka SDL(MD 25/01/2022) 15,000 1,555 # 0.01
8.27% Rajasthan UdayBond (MD 23/06/2022) 346,000 35,998 0.03 0.18
8.27% Rajasthan UDAY BOND (MD 23/06/2023) 67,000 7,110 0.01 0.04
6.92% MAHARASTRA SDL(MD 11/01/2022) 10,197,300 1,042,385 0.89 5.25
8.61% Uttar Pradesh Uday BOND (MD 21/03/2022) 28,000 2,911 # 0.01
7.42% Maharashtra SDL (MD 11/05/2022) 29,247,500 3,017,353 2.57 15.19
8.71% Haryana SDL (MD 25/01/2022) 2,500,000 259,249 0.22 1.31
8.05% Gujarat SDL (MD 27/03/2029) 500,000 53,845 0.05 0.27
7.97% Karnataka SDL (MD 05/12/2022) 5,000,000 526,130 0.45 2.65
7.18% Madhya Pradesh SDL (MD 27/03/2022) 4,500,000 463,410 0.39 2.33
6.54% GUJARAT SDL (MD 01/07/2030) 1,000,000 98,126 0.08 0.49
6.69% Tamilnadu SDL (MD 23/09/2030) 500,000 49,569 0.04 0.25
8.34% Uttar Pradesh SDL (MD 13/01/2026) 2,500,000 270,803 0.23 1.36
6.99% Gujarat SDL (MD 31/03/2026) 500,000 51,745 0.04 0.26
8.66% Tamilnadu SDL (MD 25/01/2022) 316,100 32,776 0.03 0.17
8.94% Gujarat SDL (MD 07/03/2022) 70,000 7,310 0.01 0.01
9.23% Gujarat SDL (MD 30/03/2022) 3,000 315 # #
9.12% Gujrat SDL MD (23/05/2022) 25,000 2,627 # 0.01
8.90% Karnataka SDL (MD 19/12/2022) 15,000 1,602 # 0.01
TOTAL 188,145,600 19,859,722 16.87 100.00
TOTAL ASSETS 118,870,550 101.11
NET ASSETS 117,569,156 100.00

467
Percentage to
category

POWER 71 61,767 0.46 100.00
Narmada Wind Energy Private Limited* 71 61,767 0.46 100.00
TOTAL 71 61,767 0.46 100.00

BANKS 1,340 1,323,950 9.80 13.33
Bank of Baroda* 230 231,458 1.71 2.33
Canara Bank* 10 10,124 0.07 0.10
Indian Bank* 250 245,272 1.82 2.47
Punjab National Bank 350 345,980 2.56 3.48
State Bank of India 500 491,116 3.64 4.95

Birla Corporation Limited* 121 122,011 0.90 1.23
JK Cement Limited* 250 248,176 1.84 2.50
Nuvoco Vistas Corporation Limited* 250 251,175 1.86 2.53
CHEMICALS 250 246,932 1.83 2.49

Nirma Limited* 250 246,932 1.83 2.49
CONSTRUCTION 4,952 2,331,905 17.26 23.49

DLF Limited* 350 349,323 2.59 3.52
G R Infra Projects Limited* 300 297,240 2.20 2.99
Godrej Properties Limited* 150 150,931 1.12 1.52
IndInfravit Trust* 160 161,957 1.20 1.63
Oriental Nagpur Betul Highway Limited* 3,000 309,638 2.29 3.12
Pune Solapur Expressway Pvt Ltd* 250 254,902 1.89 2.57
TATA Realty & Infrastructure Limited* 150 153,808 1.14 1.55
ENTERTAINMENT 300 296,854 2.20 2.99

PVR Limited* 300 296,854 2.20 2.99
FINANCE 3,285 3,354,115 24.85 33.78

Aadhar Housing Finance Limited* 150 153,832 1.14 1.55
JM Financial Products Limited* 50 50,088 0.37 0.50
Kogta Financial (India) Limited* 200 194,407 1.44 1.96
LIC Housing Finance Limited 500 500,542 3.71 5.04
National Bank For Agriculture and Rural Development 500 501,762 3.72 5.05
National Bank For Agriculture and Rural Development* 750 750,635 5.56 7.56
Power Finance Corporation Limited* 285 316,302 2.34 3.18
REC Limited* 40 43,472 0.32 0.44
Veritas Finance Private Limited* 170 170,324 1.26 1.72
Vivriti Capital Private Limited* 250 251,065 1.86 2.53
INDUSTRIAL PRODUCTS 300 298,244 2.21 3.00

EPL Limited* 300 298,244 2.21 3.00
NON - FERROUS METALS 92 93,177 0.69 0.94

Hindalco Industries Limited* 20 21,103 0.16 0.21
Vedanta Limited* 72 72,074 0.53 0.73
468
AXIS STRATEGIC BOND FUND (CONTD.)
Percentage to
category
POWER 949 778,161 5.76 7.81

Bhopal Dhule Transmission Company Limited* 10 10,143 0.08 0.10
NHPC Limited* 250 53,212 0.39 0.54
Talwandi Sabo Power Limited* 165 164,983 1.22 1.65
Tata Power Company Limited* 225 239,292 1.77 2.40
Tata Power Renewable Energy Limited* 19 19,615 0.15 0.20

TELECOM - SERVICES 300 294,486 2.18 2.97

TRANSPORTATION 33 33,771 0.25 0.34

Sikka Ports and Terminals Limited* 33 33,771 0.25 0.34
TOTAL 12,672 9,931,050 73.54 100.00
SECURITISED DEBT
FINANCE 3,370 405,026 3.00 64.91

PL Securitization Trust* 370 109,712 0.81 17.58
Shining Metal Trust* 3,000 295,314 2.19 47.33
TOTAL 3,398 623,968 4.62 100.00

7.16% GOI (MD 20/05/2023) 5,000,000 526,198 3.90 28.20
8.83% GOI (MD 25/11/2023) 50,000 5,477 0.04 0.29
8.60% GOI (MD 02/06/2028) 42,000 4,722 0.03 0.25
8.15% GOI (MD 24/11/2026) 9,400 1,030 0.01 0.06
7.88% GOI (MD 19/03/2030) 150,000 16,329 0.12 0.88
7.59% GOI (MD 20/03/2029) 4,000 428 # 0.02
6.84% GOI (MD 19/12/2022) 5,000,000 521,142 3.87 27.94
7.26% GOI (MD 14/01/2029) 448,900 47,119 0.35 2.53
7.27% GOI (MD 08/04/2026) 2,500,000 263,874 1.95 14.14
7.57% GOI (MD 17/06/2033) 300,000 32,189 0.24 1.73
5.79% GOI (MD 11/05/2030) 49,400 4,730 0.04 0.25
5.22% GOI (MD 15/06/2025) 3,000,000 295,790 2.19 15.85
5.15% GOI (MD 09/11/2025) 1,000,000 97,786 0.72 5.24
6.53% Karnataka SDL (MD 02/12/2030) 500,000 48,924 0.38 2.62
TOTAL 18,053,700 1,865,738 13.84 100.00
TOTAL ASSETS 14,076,937 104.27
LESS: CURRENT LIABILITIES 576,867 4.27
NET ASSETS 13,500,070 100.00

469
Percentage to
category

BANKS 920 902,100 4.72 8.73
State Bank of India* 870 847,482 4.43 8.20
CONSTRUCTION 898 947,580 4.95 9.16


Food Corporation Of India* 1,040 1,085,419 5.67 10.50
FINANCE 5,250 5,510,024 28.78 53.29

Housing & Urban Development Corporation Limited 300 330,650 1.73 3.21
Housing & Urban Development Corporation Limited* 150 166,927 0.87 1.61
India Infrastructure Fin Co Ltd* 25 29,467 0.15 0.28
Indian Railway Finance Corporation Limited 150 157,068 0.82 1.52
REC Limited* 405 417,933 2.18 4.04
POWER 3,540 1,424,296 7.44 13.77

NHPC Limited* 2,900 740,475 3.87 7.16
NTPC Limited* 400 423,390 2.21 4.09

Indian Oil Corporation Limited* 170 177,740 0.93 1.71
TOTAL 12,118 10,341,261 54.03 100.00

8.60% GOI (MD 02/06/2028) 30,000 3,373 0.02 0.04
6.19% GOI (MD 16/09/2034) 100,000 9,568 0.05 0.13
5.85% GOI (MD 01/12/2030) 41,500,000 4,057,335 21.19 53.21
7.04% Gujarat SDL (MD 18/03/2030) 1,620,300 164,391 0.86 2.16
6.7% Gujarat SDL (MD 23/09/2030) 1,000,000 99,208 0.52 1.30
6.84% Gujarat SDL (MD 07/10/2030) 500,000 50,087 0.26 0.65
6.7% Karnataka SDL (MD 23/09/2030) 2,000,000 198,118 1.04 2.60
6.5% Gujarat SDL (MD 11/11/2030) 3,000,000 293,398 1.53 3.85
6.5% Gujarat SDL (MD 25/11/2030) 2,500,000 244,477 1.28 3.21
6.53% Karnataka SDL (MD 02/12/2030) 2,000,000 195,694 1.02 2.57
6.51% Karnataka SDL (MD 30/12/2030) 11,864,800 1,159,106 6.07 15.20
TOTAL 77,509,200 7,624,736 39.84 100.00
TOTAL ASSETS 19,908,626 104.02
NET ASSETS 19,139,851 100.00
470
AXIS OVERNIGHT FUND
Percentage to
category
TOTAL ASSETS 54,588,903 100.17
NET ASSETS 54,493,589 100.00
471
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31,
2021 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Percentage to
(Rs.in '000) Net Assets
category

Banks 100 99,689 4.39 9.31

Bank of Baroda* 50 50,638 2.23 4.73
Indian Bank* 50 49,051 2.16 4.58
CONSTRUCTION 50 49,540 2.18 4.63

FINANCE 18,690 719,190 31.71 67.21

Cholamandalam Investment and Finance Company Limited* 50 49,978 2.20 4.67
LIC Housing Finance Limited* 100 103,260 4.55 9.65
Mahindra Rural Housing Finance Limited* 50 50,654 2.23 4.73
Muthoot Finance Limited* 18,000 18,533 0.82 1.73
REC Limited* 50 53,168 2.34 4.97
Petroleum Products 100 99,572 4.39 9.31

Hindustan Petroleum Corporation Limited* 100 99,572 4.39 9.31
POWER 100 101,846 4.49 9.52

TOTAL 19,040 1,069,837 47.16 99.98
EQUITY SHARES
AUTO 2,262 15,516 0.68 2.84
Maruti Suzuki India Limited 2,262 15,516 0.68 2.84
AEROSPACE & DEFENSE 12,963 11,943 0.53 2.19

MTAR Technologies Limited - Lock in Shares 12,963 11,943 0.53 2.19
AUTO ANCILLARIES 66,894 20,570 0.90 3.77

Endurance Technologies Limited 5,654 8,233 0.36 1.51
Motherson Sumi Systems Limited 61,240 12,337 0.54 2.26
BANKS 123,300 104,726 4.61 19.16

City Union Bank Limited 31,961 4,984 0.22 0.91
HDFC Bank Limited 28,130 42,016 1.85 7.69
ICICI Bank Limited 45,332 26,388 1.16 4.83
Kotak Mahindra Bank Limited 17,877 31,338 1.38 5.73
CEMENT & CEMENT PRODUCTS 1,492 20,303 0.90 3.71

Shree Cement Limited 451 13,289 0.59 2.43
UltraTech Cement Limited 1,041 7,014 0.31 1.28
CHEMICALS 17,464 19,668 0.86 3.60

Navin Fluorine International Limited 2,500 6,888 0.30 1.26
Privi Speciality Chemicals Limited 14,964 12,780 0.56 2.34
CONSTRUCTION PROJECT 5,639 8,001 0.35 1.46

Consumer Non Durables 7,162 22,895 1.01 4.19

Hindustan Unilever Limited 6,790 16,510 0.73 3.02
Nestle India Limited 372 6,385 0.28 1.17
Engineering Services 3,141 8,336 0.37 1.53

L&T Technology Services Limited 3,141 8,336 0.37 1.53
472
AXIS REGULAR SAVER FUND (CONTD.)
Percentage to
category
FINANCE 38,097 74,010 3.26 13.53

Bajaj Finance Limited 6,647 34,231 1.51 6.26
Cholamandalam Investment and Finance Company Limited 20,000 11,176 0.49 2.04
Housing Development Finance Corporation Limited 11,450 28,603 1.26 5.23
INSURANCE 17,103 25,581 1.13 4.68

Bajaj Finserv Limited 1,524 14,735 0.65 2.70
HDFC Life Insurance Company Limited 15,579 10,846 0.48 1.98
LEISURE SERVICES 97,194 10,774 0.47 1.97

The Indian Hotels Company Limited 97,194 10,774 0.47 1.97
FERROUS METALS 7,300 5,927 0.26 1.08

Tata Steel Limited 7,300 5,927 0.26 1.08
PESTICIDES 36,879 27,196 1.20 4.98

PI Industries Limited 8,374 18,910 0.83 3.46
Sumitomo Chemical India Limited 28,505 8,286 0.37 1.52
PETROLEUM PRODUCTS 18,044 34,975 1.54 6.40

Reliance Industries Limited 16,763 33,578 1.48 6.14
Reliance Industries Limited - Partly Paid Shares 1,281 1,397 0.06 0.26
PHARMACEUTICALS 7,090 21,107 0.93 3.86

Divi's Laboratories Limited 3,090 11,194 0.49 2.05
Gland Pharma Limited 4,000 9,913 0.44 1.81
RETAILING 10,898 36,823 1.63 6.73

Avenue Supermarts Limited 9,737 27,839 1.23 5.09
Indiamart Intermesh Limited 1,161 8,984 0.40 1.64
SOFTWARE 33,627 62,771 2.77 11.49

Infosys Limited 24,362 33,328 1.47 6.10
Tata Consultancy Services Limited 9,265 29,443 1.30 5.39
TELECOM - SERVICES 17,939 9,280 0.41 1.70

Bharti Airtel Limited 17,939 9,280 0.41 1.70
TRANSPORTATION 3,500 6,150 0.27 1.13

Indian Railway Catering And Tourism Corporation Limited 3,500 6,150 0.27 1.13
TOTAL 527,988 546,552 24.08 100.00
TREASURY BILL 3,920,000 391,703 17.26 100.00

364 Days Tbill (MD 08/04/2021) 2,700,000 269,845 11.89 68.89
91 Days Tbill (MD 15/04/2021) 1,220,000 121,858 5.37 31.11
TOTAL 3,920,000 391,703 17.26 100.00
GOVERNMENT SECURITIES 1,920,000 209,371 9.24 100.00

8.83% GOI (MD 25/11/2023) 500,000 54,773 2.41 26.16
6.19% GOI (MD 16/09/2034) 20,000 1,914 0.08 0.91
8.29% Andhra Pradesh SDL (MD 13/01/2026) 900,000 97,417 4.31 46.53
8.83% Uttar Pradesh SDL (MD 24/02/2026) 500,000 55,267 2.44 26.40
TOTAL 1,920,000 209,371 9.24 100.00
OTHER CURRENT ASSETS 128,192 5.65

TOTAL ASSETS 2,345,655 103.39
NET ASSETS 2,268,711 100.00
473
AXIS GILT FUND
Percentage to
category

5.77% GOI (MD 03/08/2030) 1,000,000 96,141 5.92 14.48
5.15% GOI (MD 09/11/2025) 1,500,000 146,678 9.03 22.09
5.85% GOI (MD 01/12/2030) 3,000,000 293,301 18.07 44.17
8.18% Haryana Uday Bond (MD 15/06/2024) 500,000 53,576 3.30 8.07
6.84% Gujarat SDL (MD 07/10/2030) 250,000 25,044 1.54 3.77
TOTAL 6,750,000 663,880 40.89 100.00
TREASURY BILL 7,300,000 727,548 44.79 100.00

364 Days Tbill (MD 08/04/2021) 2,300,000 229,868 14.15 31.60
91 Days Tbill (MD 15/04/2021) 3,500,000 349,594 21.53 48.05
182 Days Tbill (MD 19/08/2021) 1,500,000 148,086 9.11 20.35
TOTAL 7,300,000 727,548 44.79 100.00
TOTAL ASSETS 1,627,481 100.22
NET ASSETS 1,623,895 100.00
474
AXIS GOLD FUND
Percentage to
category
MUTUAL FUND UNITS 53,700,000 2,065,302 97.15 100.00

Axis Gold ETF 53,700,000 2,065,302 97.15 100.00
TOTAL 53,700,000 2,065,302 97.15 100.00
TOTAL ASSETS 2,139,251 100.63
NET ASSETS 2,125,941 100.00
475
AXIS CREDIT RISK FUND
Percentage to
category

POWER 266 231,409 3.90 100.00
Narmada Wind Energy Private Limited* 266 231,409 3.90 100.00
TOTAL 266 231,409 3.90 100.00

BANKS 50 49,055 0.83 1.14
Indian Bank* 50 49,055 0.83 1.14

CHEMICALS 250 246,932 4.18 5.76

Nirma Limited* 250 246,932 4.18 5.76
CONSTRUCTION 2,482 1,114,895 18.82 25.98

DLF Limited* 150 149,710 2.53 3.49
Godrej Properties Limited* 150 150,931 2.55 3.52
Oriental Nagpur Betul Highway Limited* 1,592 163,569 2.76 3.81
CONSUMER NON DURABLES 1 1,053 0.02 0.02

ENTERTAINMENT 200 192,257 3.24 4.48

PVR Limited* 200 192,257 3.24 4.48
FINANCE 1,003 1,163,123 19.61 27.12

Aadhar Housing Finance Limited* 150 152,994 2.58 3.57
IIFL Home Finance Limited* 75 94,107 1.59 2.19
IndoStar Capital Finance Limited* 13 130,365 2.20 3.04
Kogta Financial (India) Limited* 100 97,204 1.64 2.27
Veritas Finance Private Limited* 80 80,153 1.35 1.87
FERROUS METALS 120 213,636 3.60 4.98

Tata Steel Limited* 120 213,636 3.60 4.98

Vedanta Limited* 10 10,010 0.17 0.23
POWER 610 629,593 10.62 14.67


TOTAL 5,396 4,289,938 72.38 100.00
476
AXIS CREDIT RISK FUND (CONTD.)
Percentage to
category
SECURITISED DEBT
FINANCE 2,946 441,574 7.45 76.46

MFL Securitisation Trust* 576 134,986 2.28 23.37
TOTAL 2,963 577,560 9.74 100.00

7.59% GOI (MD 20/03/2029) 50,000 5,345 0.09 0.92
7.59% GOI(MD 11/01/2026) 6,100 652 0.01 0.11
6.84% GOI (MD 19/12/2022) 5,000,000 521,142 8.79 90.05
6.79% GOI (MD 15/05/2027) 500,000 51,570 0.87 8.92
TOTAL 5,556,100 578,709 9.76 100.00
TOTAL ASSETS 5,947,645 100.33
NET ASSETS 5,928,238 100.00
477
AXIS CORPORATE DEBT FUND
Percentage to
category
BANKS 5,000 498,428 1.29 100.00
TOTAL 5,000 498,428 1.29 100.00
COMMERCIAL PAPER
FINANCE 2,000 972,997 2.52 56.76

Sundaram Finance Limited* 1,000 485,585 1.26 28.33

TOTAL 3,500 1,714,189 4.44 100.00

AUTO ANCILLARIES 1,600 1,615,507 4.18 5.54
Motherson Sumi Systems Limited* 1,600 1,615,507 4.18 5.54
BANKS 1,840 1,806,153 4.67 6.20


Grasim Industries Limited* 1,400 1,444,918 3.74 4.96
CONSTRUCTION 2,545 2,361,960 6.12 8.11

Oriental Nagpur Betul Highway Limited* 500 51,096 0.13 0.18

FINANCE 17,687 17,983,620 46.59 61.70

Citicorp Finance India Limited* 500 500,278 1.30 1.71
Export Import Bank of India* 250 273,460 0.71 0.94
HDB Financial Services Limited 50 51,800 0.13 0.18
India Infradebt Limited 750 742,213 1.92 2.55
India Infradebt Limited* 844 866,418 2.24 2.97
Mahindra & Mahindra Financial Services Limited* 150 152,138 0.39 0.52
REC Limited 50 54,730 0.14 0.19
REC Limited* 1,454 1,468,281 3.80 5.04
Tata Capital Limited* 1,500 1,499,452 3.88 5.15
Tata Capital Financial Services Limited* 100 128,039 0.33 0.44
478
AXIS CORPORATE DEBT FUND (CONTD.)
Percentage to
category

Indian Oil Corporation Limited 250 251,976 0.65 0.86
Indian Oil Corporation Limited* 50 51,077 0.13 0.18
POWER 581 602,656 1.56 2.07

TRANSPORTATION 850 891,448 2.31 3.06

TOTAL 28,853 29,142,678 75.48 100.00
SECURITISED DEBT
TOTAL 47 403,631 1.05 100.00
TREASURY BILL 20,000,000 1,983,680 5.14 100.00

364 Days Tbill (MD 01/07/2021) 20,000,000 1,983,680 5.14 100.00
TOTAL 20,000,000 1,983,680 5.14 100.00

7.16% GOI (MD 20/05/2023) 4,000,000 420,958 1.09 17.11
8.83% GOI (MD 25/11/2023) 3,000,000 328,641 0.85 13.36
6.79% GOI (MD 15/05/2027) 500,000 51,570 0.13 2.10
7.17% GOI (MD 08/01/2028) 1,000,000 104,643 0.27 4.25
7.27% GOI (MD 08/04/2026) 5,000,000 527,748 1.37 21.45
5.85% GOI (MD 01/12/2030) 250,000 24,442 0.06 0.99
TOTAL 23,750,000 2,460,095 6.37 100.00
TOTAL ASSETS 39,104,847 101.29
NET ASSETS 38,605,672 100.00
479
AXIS ULTRA SHORT TERM FUND
Percentage to
category

BANKS 500 507,026 1.07 3.06
Bank of Baroda* 500 507,026 1.07 3.06
The Ramco Cements Limited* 250 251,608 0.53 1.52
CHEMICALS 150 148,159 0.31 0.89
Nirma Limited* 150 148,159 0.31 0.89
CONSTRUCTION 1,900 2,115,962 4.47 12.77
TATA Realty & Infrastructure Limited* 550 553,361 1.17 3.34
FINANCE 510,121 10,785,588 22.78 65.03
Aadhar Housing Finance Limited* 250,000 254,685 0.54 1.54
Bharti Telecom Limited* 50 51,963 0.11 0.31
Cholamandalam Investment and Finance Company Limited* 900 904,652 1.91 5.46
Citicorp Finance India Limited* 500 500,278 1.06 3.02
Daimler Financial Services India Pvt Limited* 550 559,901 1.18 3.38
Housing Development Finance Corporation Limited 650 665,516 1.41 4.01
Mahindra Rural Housing Finance Limited* 550 557,190 1.18 3.36
REC Limited 51 51,496 0.11 0.32
Shriram Transport Finance Company Limited* 150 192,725 0.41 1.16
Tata Capital Financial Services Limited* 200,000 204,163 0.43 1.23
FERROUS METALS 310 551,894 1.17 3.33
EPL Limited* 200 198,585 0.42 1.20

Vedanta Limited* 200 199,589 0.42 1.20
POWER 400 404,674 0.86 2.44
Coastal Gujarat Power Limited* 300 302,550 0.64 1.82
TOTAL 515,430 16,581,971 35.02 100.00

BANKS 30,000 2,960,731 6.25 100.00
Bank of Baroda 5,000 497,451 1.05 16.80
IDFC First Bank Limited* 12,500 1,245,832 2.63 42.08
IndusInd Bank Limited* 7,500 726,445 1.53 24.54
RBL Bank Limited* 5,000 491,003 1.04 16.58
TOTAL 30,000 2,960,731 6.25 100.00
COMMERCIAL PAPER
CAPITAL MARKETS 2,000 973,067 2.06 5.78
ICICI Securities Limited* 1,000 485,521 1.03 2.88
JM Financial Services Limited* 1,000 487,546 1.03 2.90
480
AXIS ULTRA SHORT TERM FUND (CONTD.)
Percentage to
category
FINANCE 19,300 9,533,982 20.12 56.61

Bahadur Chand Investments Pvt Limited* 1,200 591,509 1.25 3.51
Bajaj Housing Finance Limited* 1,000 495,823 1.05 2.94
Birla Group Holdings Private Limited* 2,000 986,673 2.08 5.86
Housing Development Finance Corporation Limited* 2,000 982,402 2.07 5.83
Infina Finance Private Limited* 1,800 872,307 1.84 5.18
L & T Housing Finance* 2,000 995,337 2.10 5.91
Standard Chartered Invest & Loans Limited* 1,000 490,931 1.04 2.92
POWER 2,000 997,616 2.11 5.92
RETAILING 2,000 993,174 2.10 5.90
Reliance Retail Ventures Limited* 2,000 993,174 2.10 5.90
Bharti Hexacom Limited* 800 392,852 0.83 2.33
Tata Teleservices Limited* 600 284,058 0.60 1.71
TOTAL 34,100 16,837,824 35.56 100.00
SECURITISED DEBT
FINANCE 5,260 569,284 1.20 66.65

TOTAL 5,289 854,231 1.80 100.00

TREASURY BILL 45,280,000 4,505,058 9.51 100.00
364 Days Tbill (MD 20/05/2021) 3,000,000 298,715 0.63 6.63
364 Days Tbill (MD 17/06/2021) 10,500,000 1,042,851 2.20 23.15
364 Days Tbill (MD 24/06/2021) 7,500,000 744,474 1.57 16.53
364 Days Tbill (MD 01/07/2021) 5,000,000 495,920 1.05 11.01
364 Days Tbill (MD 22/04/2021) 13,500,000 1,347,635 2.85 29.91
182 Days Tbill (MD 27/05/2021) 5,000,000 497,554 1.05 11.04
91 Days Tbill (MD 15/04/2021) 780,000 77,909 0.16 1.73
TOTAL 45,280,000 4,505,058 9.51 100.00

7.94% GOI (MD 24/05/2021) 22,500,000 2,265,354 4.77 81.40
9.22% Tamil Nadu SDL (MD 23/11/2021) 1,000,000 103,458 0.22 3.72
7.03% Gujarat SDL (MD 26/10/2021) 500,000 50,943 0.11 1.83
8.73% Himachal Pradesh SDL (MD 08/02/2022) 2,500,000 259,681 0.55 9.33
TOTAL 27,500,000 2,783,009 5.87 100.00
TOTAL ASSETS 47,565,717 100.43
NET ASSETS 47,362,906 100.00
481
AXIS MONEY MARKET FUND
Percentage to
category
BANKS 35,190 3,445,424 15.44 87.75
AU Small Finance Bank Limited* 5,000 476,641 2.14 12.14
Bank of Baroda 5,000 497,451 2.23 12.67
Bank of Baroda* 190 18,896 0.08 0.48
IndusInd Bank Limited* 12,500 1,217,978 5.46 31.02
RBL Bank Limited* 7,500 736,505 3.30 18.76
FINANCE 5,000 481,284 2.16 12.25
Small Industries Dev Bank of India* 5,000 481,284 2.16 12.25
TOTAL 40,190 3,926,708 17.60 100.00
COMMERCIAL PAPER
CAPITAL MARKETS 1,000 485,521 2.18 3.50
ICICI Securities Limited* 1,000 485,521 2.18 3.50
CONSTRUCTION 1,000 497,012 2.23 3.58
Godrej Properties Limited* 1,000 497,012 2.23 3.58
Dalmia Cement (Bharat) Limited* 1,000 497,240 2.23 3.58
FINANCE 17,800 8,776,528 39.29 63.23
Bajaj Housing Finance Limited* 1,500 740,090 3.32 5.33
Birla Group Holdings Private Limited* 1,500 742,218 3.33 5.35
Export Import Bank of India* 1,000 492,221 2.21 3.55
Hero Fincorp Limited* 1,000 490,644 2.19 3.53
Housing Development Finance Corporation Limited* 1,000 491,201 2.19 3.54
Infina Finance Private Limited* 1,000 485,387 2.17 3.50
LIC Housing Finance Limited* 1,000 494,464 2.21 3.56
Standard Chartered Invest & Loans Limited* 1,000 490,931 2.19 3.54
Tata Motors Finance Limited* 1,200 587,533 2.63 4.23
Reliance Industries Limited* 2,000 986,956 4.43 7.11
POWER 2,000 997,616 4.48 7.19
TELECOM - SERVICES 3,200 1,541,428 6.91 11.09
Bharti Hexacom Limited* 1,500 736,598 3.30 5.29
Tata Teleservices (Maharashtra) Limited* 1,700 804,830 3.61 5.80
TOTAL 28,200 13,881,645 62.20 100.00
8.88% Gujarat SDL (MD 05/10/2021) 500,000 51,307 0.23 16.74
8.62% Gujarat SDL (MD 07/09/2021) 500,000 51,075 0.23 16.66
TOTAL 3,000,000 306,491 1.38 100.00

TREASURY BILL 16,500,000.00 1,638,328 7.44 100.00
364 Days Tbill (MD 20/05/2021) 1,500,000.00 149,357 0.67 9.12
364 Days Tbill (MD 17/06/2021) 7,500,000.00 744,893 3.34 45.47
364 Days Tbill (MD 24/06/2021) 2,500,000.00 248,158 1.11 15.15
364 Days Tbill (MD 01/07/2021) 5,000,000.00 495,920 2.32 30.26
TOTAL 16,500,000 1,638,328 7.44 100.00
TOTAL ASSETS 22,317,574 100.12
NET ASSETS 22,291,546 100.00
482
AXIS ALL SEASONS DEBT FUND OF FUNDS
Percentage to
category
MUTUAL FUND UNITS

34,720,725 1,093,869 96.43 100.00
Aditya Birla Sun Life Mutual Fund * 561,363 58,006 5.11 5.30
Axis Mutual Fund * 13,931,899 358,776 31.62 32.80
HDFC Mutual Fund * 10,464,383 291,961 25.74 26.70
ICICI Prudential Mutual Fund * 7,933,872 312,443 27.54 28.56
Kotak Mutual Fund * 913,721 39,727 3.50 3.63
SBI Mutual Fund * 915,487 32,956 2.92 3.01
TOTAL 34,720,725 1,093,869 96.43 100.00
TOTAL ASSETS 1,135,271 100.08
LESS: CURRENT LIABILITIES 927 0.08
NET ASSETS 1,134,344 100.00
483
AXIS BLUECHIP FUND

Percentage to
category
EQUITY SHARES
AUTO 3,790,000 7,250,429 2.94 3.14
Mahindra & Mahindra Limited 2,010,000 1,598,453 0.65 0.69
Maruti Suzuki India Limited 780,000 5,350,176 2.17 2.32
Tata Motors Limited 1,000,000 301,800 0.12 0.13
AUTO ANCILLARIES 20,700,000 4,170,015 1.69 1.80

Motherson Sumi Systems Limited 20,700,000 4,170,015 1.69 1.80
BANKS 51,950,000 56,019,499 22.73 24.24

HDFC Bank Limited 15,410,000 23,017,147 9.34 9.96
ICICI Bank Limited 26,520,000 15,437,292 6.26 6.68
Kotak Mahindra Bank Limited 10,020,000 17,565,060 7.13 7.60

Shree Cement Limited 132,375 3,900,482 1.58 1.69
UltraTech Cement Limited 860,000 5,794,637 2.35 2.51
CHEMICALS 2,520,000 4,559,688 1.85 1.97

Pidilite Industries Limited 2,520,000 4,559,688 1.85 1.97

CONSUMER DURABLES 1,650,000 2,570,783 1.04 1.11

Titan Company Limited 1,650,000 2,570,783 1.04 1.11
CONSUMER NON DURABLES 7,481,953 19,187,310 7.78 8.30

Asian Paints Limited 2,110,000 5,353,914 2.17 2.32
Hindustan Unilever Limited 2,760,000 6,710,940 2.72 2.90
Nestle India Limited 330,000 5,664,516 2.30 2.45
Tata Consumer Products Limited 2,281,953 1,457,940 0.59 0.63
0.00 0.00
FINANCE 11,828,000 35,766,097 14.51 15.48
Bajaj Finance Limited 4,150,000 21,371,878 8.67 9.25
Cholamandalam Investment and Finance Company Limited 2,468,000 1,379,118 0.56 0.60
Housing Development Finance Corporation Limited 5,210,000 13,015,101 5.28 5.63
INSURANCE 4,190,000 3,521,418 1.43 1.53

HDFC Life Insurance Company Limited 3,370,000 2,346,194 0.95 1.02
ICICI Lombard General Insurance Company Limited 820,000 1,175,224 0.48 0.51
PETROLEUM PRODUCTS 5,419,666 10,637,414 4.32 4.60

Reliance Industries Limited 5,180,000 10,376,058 4.21 4.49
Reliance Industries Limited - Partly paid shares 239,666 261,356 0.11 0.11
PHARMACEUTICALS 7,676,516 14,489,194 5.86 6.26

Cipla Limited 4,490,000 3,659,799 1.48 1.58
Divi's Laboratories Limited 1,710,000 6,194,988 2.51 2.68
Dr. Reddy's Laboratories Limited 460,000 2,077,360 0.84 0.90
Gland Pharma Limited 450,000 1,115,235 0.45 0.48
Torrent Pharmaceuticals Limited 566,516 1,441,812 0.58 0.62
RETAILING 4,817,580 13,773,702 5.59 5.96

Avenue Supermarts Limited 4,817,580 13,773,702 5.59 5.96
SOFTWARE 30,250,000 44,675,729 18.14 19.34

Infosys Limited 17,100,000 23,393,655 9.50 10.13
Tata Consultancy Services Limited 5,730,000 18,209,081 7.39 7.88
Wipro Limited 7,420,000 3,072,993 1.25 1.33
484
AXIS BLUECHIP FUND (CONTD.)

Percentage to
category
TELECOM - SERVICES 7,900,000 4,086,670 1.67 1.79

Bharti Airtel Limited 7,900,000 4,086,670 1.67 1.79
TOTAL 161,616,090 231,041,572 93.74 100.00
FIXED DEPOSITS
BANKS 2,127,300,000 2,127,300 0.86 100.00
2.6% Axis Bank Margin FD (MD 25/05/2021) 1,335,700,000 1,335,700 0.54 62.79
2.6% Axis Bank Margin FD (MD 08/06/2021) 495,000,000 495,000 0.20 23.27
TOTAL 2,127,300,000 2,127,300 0.86 100.00
TOTAL ASSETS 247,876,722 100.57
NET ASSETS 246,476,130 100.00
Investments made in futures have been disclosed in attachment 3
485
AXIS LONG TERM EQUITY FUND

Percentage to
category
EQUITY SHARES
AUTO 1,864,727 12,790,535 4.57 4.68
Maruti Suzuki India Limited 1,864,727 12,790,535 4.57 4.68

Endurance Technologies Limited 2,334,825 3,399,855 1.22 1.24
BANKS 22,147,131 35,728,828 12.78 13.07


CHEMICALS 6,552,262 11,855,663 4.24 4.34


Symphony Limited 2,833,257 3,583,928 1.28 1.31
TTK Prestige Limited 489,007 3,545,252 1.27 1.30
- -
FINANCE 28,367,791 55,079,080 19.70 20.15

Mas Financial Services Limited 1,547,805 1,320,432 0.47 0.48
Sundaram Finance Limited 2,509,277 6,449,971 2.31 2.36
INDUSTRIAL PRODUCTS 3,305,256 4,877,472 1.74 1.79

Astral Poly Technik Limited 2,635,963 4,261,957 1.52 1.56
Cummins India Limited 669,293 615,515 0.22 0.23
INSURANCE 775,759 7,500,503 2.68 2.74

Bajaj Finserv Limited 775,759 7,500,503 2.68 2.74
LEISURE SERVICES 7,251,699 803,851 0.29 0.29

The Indian Hotels Company Limited 7,251,699 803,851 0.29 0.29
PESTICIDES 1,711,367 3,864,523 1.38 1.41

PI Industries Limited 1,711,367 3,864,523 1.38 1.41

Gland Pharma Limited 1,379,908 3,419,826 1.22 1.25
TTK Healthcare Limited 318,477 157,551 0.06 0.06
POWER 27,052,587 11,464,886 4.10 4.20

Torrent Power Limited 27,052,587 11,464,886 4.10 4.20
RETAILING 10,749,165 36,431,162 13.03 13.33

Info Edge (India) Limited 3,809,775 16,307,932 5.83 5.97
SOFTWARE 19,069,656 33,350,805 11.93 12.22

Infosys Limited 7,231,570 9,893,149 3.54 3.62
Wipro Limited 5,124,292 2,122,226 0.76 0.78
TOTAL 191,725,417 273,250,005 97.73 100.00
TOTAL ASSETS 280,921,328 100.47
NET ASSETS 279,597,124 100.00
486
AXIS MIDCAP FUND

Percentage to
category
EQUITY SHARES
Balkrishna Industries Limited 1,059,000 1,788,122 1.71 1.83
Endurance Technologies Limited 1,871,023 2,724,490 2.61 2.78
BANKS 24,029,992 10,809,882 10.33 11.03

City Union Bank Limited 15,609,992 2,434,378 2.31 2.49
CEMENT & CEMENT PRODUCTS 3,266,839 5,842,283 5.59 5.96

ACC Limited 805,000 1,532,116 1.47 1.56
JK Cement Limited 972,212 2,816,741 2.69 2.88
The Ramco Cements Limited 1,489,627 1,493,426 1.43 1.52
CHEMICALS 460,361 606,503 0.58 0.62

Aarti Industries Limited 460,361 606,503 0.58 0.62

Bata India Limited 1,350,000 1,898,370 1.82 1.94
Crompton Greaves Consumer Electricals Limited 6,154,634 2,415,694 2.31 2.47
TTK Prestige Limited 105,335 763,668 0.73 0.78
V-Guard Industries Limited 3,656,388 922,690 0.88 0.94
Voltas Limited 4,170,000 4,178,132 4.00 4.27
Whirlpool of India Limited 598,991 1,333,713 1.28 1.36
- -
3M India Limited 47,816 1,455,359 1.39 1.49
Indigo Paints Limited 67,065 160,678 0.15 0.16
ENGINEERING SERVICES 583,194 1,547,739 1.48 1.58

L&T Technology Services Limited 583,194 1,547,739 1.48 1.58
FERROUS METALS 4,811,272 1,653,153 1.58 1.69

Jindal Steel & Power Limited 4,811,272 1,653,153 1.58 1.69
FERTILISERS 2,225,996 1,724,145 1.65 1.76

Coromandel International Limited 2,225,996 1,724,145 1.65 1.76
FINANCE 14,849,481 11,851,190 11.34 12.10

Bajaj Finance Limited 640,000 3,295,904 3.15 3.37
Mahindra & Mahindra Financial Services Limited 2,644,663 526,156 0.50 0.54
Sundaram Finance Limited 778,818 2,001,913 1.92 2.04
GAS 8,720,903 3,738,852 3.58 3.81

Gujarat Gas Limited 4,907,619 2,696,491 2.58 2.75
Gujarat State Petronet Limited 3,813,284 1,042,361 1.00 1.06

AIA Engineering Limited 420,714 863,600 0.83 0.88
Astral Poly Technik Limited 2,214,974 3,581,281 3.42 3.66
Cummins India Limited 572,576 526,570 0.50 0.54
EPL Limited 220,905 52,178 0.05 0.05
Supreme Industries Limited 1,452,701 2,967,432 2.84 3.03
INDUSTRIAL CAPITAL GOODS 35,996 1,709,085 1.64 1.75

Honeywell Automation India Limited 35,996 1,709,085 1.64 1.75
487
AXIS MIDCAP FUND (CONTD.)

Percentage to
category
LEISURE SERVICES 9,145,893 1,013,822 0.97 1.04

The Indian Hotels Company Limited 9,145,893 1,013,822 0.97 1.04
PESTICIDES 3,744,298 4,152,055 3.97 4.24

PI Industries Limited 1,557,136 3,516,247 3.36 3.59
Sumitomo Chemical India Limited 2,187,162 635,808 0.61 0.65

Abbott India Limited 52,535 787,148 0.75 0.80
Alembic Pharmaceuticals Limited 463,997 447,734 0.43 0.46
Alkem Laboratories Limited 303,013 839,285 0.80 0.86
Cadila Healthcare Limited 2,150,000 947,935 0.91 0.97
IPCA Laboratories Limited 1,379,726 2,626,653 2.51 2.68
Sanofi India Limited 63,799 503,026 0.48 0.51
Torrent Pharmaceuticals Limited 230,000 585,362 0.56 0.60
RETAILING 8,615,202 7,390,387 7.07 7.54

Aditya Birla Fashion and Retail Limited 4,142,536 833,685 0.80 0.85
Info Edge (India) Limited 220,000 941,721 0.90 0.96
Trent Limited 3,165,968 2,377,800 2.27 2.43
SOFTWARE 3,787,688 8,590,230 8.23 8.78

Coforge Limited 916,502 2,682,556 2.57 2.75
MindTree Limited 895,000 1,865,091 1.78 1.90
MphasiS Limited 1,356,747 2,410,261 2.31 2.46
Persistent Systems Limited 46,397 89,177 0.09 0.09
Tata Elxsi Limited 573,042 1,543,145 1.48 1.58

Tata Communications Limited 815,000 866,182 0.82 0.88
TOTAL 118,375,767 97,936,105 93.69 100.00
TOTAL ASSETS 104,959,622 100.41
NET ASSETS 104,525,941 100.00
488
AXIS FOCUSED 25 FUND

Percentage to
category
EQUITY SHARES
AUTO 1,071,122 7,347,040 4.89 5.12
Maruti Suzuki India Limited 1,071,122 7,347,040 4.89 5.12
BANKS 14,236,619 23,179,312 15.43 16.15
CHEMICALS 4,412,425 7,983,842 5.31 5.56
FINANCE 6,826,699 24,406,544 0.00
16.25 0.00
17.01
Supreme Industries Limited 3,838,599 7,841,106 5.22 5.46
INSURANCE 265,068 2,562,836 1.71 1.79
Bajaj Finserv Limited 265,068 2,562,836 1.71 1.79
Bharat Petroleum Corporation Limited 2,806,883 1,201,206 0.80 0.84
POWER 4,955,041 2,099,946 1.40 1.46
RETAILING 5,740,357 19,058,055 12.68 13.28
Info Edge (India) Limited 1,861,475 7,968,137 5.30 5.55
SOFTWARE 16,943,135 23,204,069 15.45 16.16
Infosys Limited 3,678,886 5,032,900 3.35 3.51
Wipro Limited 8,677,000 3,593,580 2.40 2.50
TOTAL 92,342,290 143,527,447 95.54 100.00
FIXED DEPOSITS
BANKS 3,015,100,000 3,015,100 2.00 100.00
2.6% Axis Bank Margin FD (MD 10/05/2021) 1,879,800,000 1,879,800 1.25 62.34
TOTAL 3,015,100,000 3,015,100 2.00 100.00
TOTAL ASSETS 151,033,850 100.53
NET ASSETS 150,231,185 100.00
489
AXIS ARBITRAGE FUND

Percentage to
category
FINANCE 2,500 241,459 0.79 100.00
TOTAL 2,500 241,459 0.79 100.00

FINANCE 1,550 1,578,233 5.18 100.00
Housing Development Finance Corporation Limited 250 251,879 0.82 15.96
TOTAL 1,550 1,578,233 5.18 100.00
EQUITY SHARES
Bharat Electronics Limited 15,200 1,902 0.01 0.01
AUTO 558,750 328,381 1.07 1.62

Ashok Leyland Limited 405,000 45,968 0.15 0.23
Bajaj Auto Limited 58,500 214,730 0.70 1.06
Escorts Limited 550 708 0.00 0.00
Mahindra & Mahindra Limited 40,600 32,287 0.11 0.16
Tata Motors Limited 51,300 15,482 0.05 0.08

Apollo Tyres Limited 115,000 25,726 0.08 0.13
Balkrishna Industries Limited 2,000 3,377 0.01 0.02
MRF Limited 570 46,888 0.15 0.23
BANKS 5,698,225 2,468,086 8.05 12.21

Bandhan Bank Limited 10,800 3,660 0.01 0.02
Bank of Baroda 269,100 19,940 0.07 0.10
Canara Bank 345,600 52,600 0.17 0.26
ICICI Bank Limited 1,566,125 911,641 2.97 4.51
IndusInd Bank Limited 451,800 431,221 1.41 2.13
RBL Bank Limited 75,400 15,649 0.05 0.08
State Bank of India 2,727,000 993,446 3.24 4.91
The Federal Bank Limited 240,000 18,192 0.06 0.09

ACC Limited 194,500 370,182 1.21 1.83
Ambuja Cements Limited 213,000 65,785 0.21 0.33
Grasim Industries Limited 505,400 733,108 2.39 3.62
CHEMICALS 144,000 286,991 0.94 1.41

Pidilite Industries Limited 87,500 158,323 0.52 0.78
SRF Limited 18,500 100,100 0.33 0.49
Tata Chemicals Limited 38,000 28,568 0.09 0.14
CONSTRUCTION 636,900 182,822 0.60 0.90

DLF Limited 636,900 182,822 0.60 0.90
490
AXIS ARBITRAGE FUND (CONTD.)

Percentage to
category

CONSUMER DURABLES 149,100 162,702 0.53 0.81

Bata India Limited 23,100 32,483 0.11 0.16
Havells India Limited 82,000 86,133 0.28 0.43
Voltas Limited 44,000 44,086 0.14 0.22

Asian Paints Limited 351,600 892,150 2.91 4.41
Colgate Palmolive (India) Limited 2,800 4,366 0.01 0.02
Dabur India Limited 63,750 34,457 0.11 0.17
Godrej Consumer Products Limited 34,000 24,808 0.08 0.12
ITC Limited 2,236,800 488,741 1.59 2.42
Marico Limited 22,000 9,049 0.03 0.04
Tata Consumer Products Limited 1,236,600 790,064 2.57 3.91
United Spirits Limited 385,000 214,195 0.70 1.06
ENGINEERING SERVICES 18,000 47,770 0.16 0.24

ENTERTAINMENT 1,470,000 314,730 1.02 1.56

Sun TV Network Limited 60,000 28,218 0.09 0.14
Zee Entertainment Enterprises Limited 1,410,000 286,512 0.93 1.42
FERROUS METALS 4,248,700 1,277,322 4.16 6.30

Jindal Steel & Power Limited 50,000 17,180 0.06 0.08
JSW Steel Limited 91,800 43,004 0.14 0.21
Steel Authority of India Limited 2,888,000 227,574 0.74 1.12
Tata Steel Limited 1,218,900 989,564 3.22 4.89
FINANCE 2,218,100 1,662,351 5.42 8.22

Indiabulls Housing Finance Limited 18,600 3,655 0.01 0.02
Manappuram Finance Limited 270,000 40,284 0.13 0.20
Piramal Enterprises Limited 110,000 192,847 0.63 0.95
Power Finance Corporation Limited 688,200 78,283 0.26 0.39
REC Limited 582,000 76,329 0.25 0.38
Shriram Transport Finance Company Limited 120,000 170,676 0.56 0.84
GAS 992,300 161,469 0.52 0.80

GAIL (India) Limited 689,300 93,400 0.30 0.46
Petronet LNG Limited 303,000 68,069 0.22 0.34
HEALTHCARE SERVICES 4,000 11,611 0.04 0.06

Apollo Hospitals Enterprise Limited 4,000 11,611 0.04 0.06
INSURANCE 272,850 199,130 0.65 0.99

ICICI Lombard General Insurance Company Limited 8,500 12,182 0.04 0.06
SBI Life Insurance Company Limited 15,750 13,873 0.05 0.07
MINERALS/MINING 1,977,400 261,908 0.86 1.30

Coal India Limited 1,146,600 149,459 0.49 0.74
NMDC Limited 830,800 112,449 0.37 0.56
NON - FERROUS METALS 322,500 105,409 0.34 0.52

Hindalco Industries Limited 322,500 105,409 0.34 0.52
491

Percentage to
category
OIL 200,200 20,450 0.07 0.10

Oil & Natural Gas Corporation Limited 200,200 20,450 0.07 0.10
PESTICIDES 261,800 168,844 0.55 0.84

PI Industries Limited 500 1,129 0.00 0.01
UPL Limited 261,300 167,715 0.55 0.83

Bharat Petroleum Corporation Limited 2,316,600 991,389 3.23 4.90
Hindustan Petroleum Corporation Limited 1,485,000 348,233 1.14 1.72
Indian Oil Corporation Limited 936,000 85,972 0.28 0.42

Aurobindo Pharma Limited 410,800 362,038 1.18 1.79
Cadila Healthcare Limited 792,000 349,193 1.14 1.73
Cipla Limited 248,300 202,389 0.66 1.00
Dr. Reddy's Laboratories Limited 260,125 1,174,725 3.83 5.81
Glenmark Pharmaceuticals Limited 19,550 9,085 0.03 0.04
Granules India Limited 1,550 470 0.00 0.00
Lupin Limited 331,500 338,279 1.10 1.67
Sun Pharmaceutical Industries Limited 334,600 200,024 0.65 0.99
POWER 2,881,600 331,623 1.08 1.64

NTPC Limited 1,613,100 171,876 0.56 0.85
Power Grid Corporation of India Limited 256,000 55,206 0.18 0.27
Tata Power Company Limited 1,012,500 104,541 0.34 0.52
RETAILING 14,075 42,337 0.14 0.21

Trent Limited 5,075 3,812 0.01 0.02
SOFTWARE 1,097,650 1,199,284 3.91 5.93

Coforge Limited 750 2,195 0.01 0.01
Infosys Limited 262,200 358,703 1.17 1.77
Larsen & Toubro Infotech Limited 6,900 27,975 0.09 0.14
Tech Mahindra Limited 606,000 600,819 1.96 2.97
Wipro Limited 179,200 74,216 0.24 0.37
TELECOM - SERVICES 2,161,968 1,118,386 3.65 5.53

Bharti Airtel Limited 2,161,968 1,118,386 3.65 5.53
TRANSPORTATION 1,564,075 1,218,910 3.94 6.00

Adani Ports and Special Economic Zone Limited 1,450,000 1,018,480 3.29 5.01
TOTAL 40,181,488 20,230,861 65.92 100.00
FIXED DEPOSITS
BANKS 6,186,000,000 6,186,000 20.17 100.00
6.85% AU Small Finance Bank MarginFD(MD13/04/2021) 550,000,000 550,000 1.79 8.89
492

Percentage to
category
3% Axis Bank Margin FD (MD 23/02/2022) 394,800,000 394,800 1.29 6.38
TOTAL 6,186,000,000 6,186,000 20.17 100.00
TOTAL ASSETS 31,356,125 102.23
NET ASSETS 30,672,302 100.00
493
AXIS DYNAMIC EQUITY FUND

Percentage to
category

BANKS 50 50,969 0.38 2.54
CHEMICALS 100 98,773 0.74 4.92

Nirma Limited* 100 98,773 0.74 4.92
CONSTRUCTION 200 219,157 1.64 10.91

FINANCE 6,500 1,575,076 11.77 78.43

REC Limited* 500 522,346 3.91 26.01
Shriram Transport Finance Company Limited* 5,000 5,028 0.04 0.25
POWER 260 64,068 0.48 3.20

NHPC Limited* 250 53,310 0.40 2.66
TOTAL 7,110 2,008,043 15.01 100.00
EQUITY SHARES
AUTO 280,409 348,359 2.61 3.81

BANKS 2,059,907 2,036,293 15.25 22.22

Canara Bank 16,200 2,466 0.02 0.03

Shree Cement Limited 5,151 151,776 1.14 1.66


Titan Company Limited 41,020 63,911 0.48 0.70

Indigo Paints Limited 87,240 209,014 1.56 2.28
Nestle India Limited 13,274 227,851 1.71 2.49
Tata Consumer Products Limited 24,300 15,525 0.12 0.17
ENTERTAINMENT 11,234 16,472 0.12 0.18

Nazara Technologies Limited 11,234 16,472 0.12 0.18
494
AXIS DYNAMIC EQUITY FUND (CONTD.)

Percentage to
category
FERROUS METALS 60,000 20,616 0.15 0.22

FERTILISERS 165,861 128,468 0.96 1.40

Coromandel International Limited 165,861 128,468 0.96 1.40
FINANCE 733,149 1,286,784 9.63 14.05

GAS 45,375 23,248 0.17 0.25

Indraprastha Gas Limited 45,375 23,248 0.17 0.25

Bharat Petroleum Corporation Limited 225,000 96,289 0.72 1.05

Cipla Limited 111,900 91,210 0.68 1.00
Dr. Reddy's Laboratories Limited 7,250 32,741 0.25 0.36
RETAILING 91,468 261,512 1.96 2.85

SOFTWARE 948,790 1,707,721 12.78 18.63

Infosys Limited 533,613 730,009 5.46 7.96

TRANSPORTATION 65,000 45,656 0.34 0.50

Adani Ports and Special Economic Zone Limited 65,000 45,656 0.34 0.50
TOTAL 6,526,908 9,163,750 68.59 100.00
FIXED DEPOSITS
BANKS 740,500,000 740,500 5.54 100.00
TOTAL 740,500,000 740,500 5.54 100.00
TOTAL ASSETS 13,471,425 100.81
NET ASSETS 13,362,793 100.00

495
AXIS FLEXICAP FUND ^

Percentage to
category
EQUITY SHARES
AUTO 1,288,795 2,116,425 2.78 2.90
Mahindra & Mahindra Limited 1,108,795 881,769 1.16 1.21
Maruti Suzuki India Limited 180,000 1,234,656 1.62 1.69

BANKS 17,603,795 16,238,478 21.22 22.27

State Bank of India 2,630,000 958,109 1.25 1.31
Suryoday Small Finance Bank Limited - Lock in shares 1,713,795 422,159 0.54 0.58

Ambuja Cements Limited 3,310,000 1,022,294 1.34 1.40
UltraTech Cement Limited 280,000 1,886,626 2.47 2.59
CHEMICALS 860,000 1,556,084 2.04 2.13

Pidilite Industries Limited 860,000 1,556,084 2.04 2.13

CONSUMER DURABLES 585,000 1,452,186 1.90 1.99

- -
Asian Paints Limited 710,000 1,801,554 2.36 2.47
Hindustan Unilever Limited 530,000 1,288,695 1.69 1.77
FINANCE 5,420,000 11,149,684 14.60 15.29

HEALTHCARE SERVICES 2,028,772 823,377 1.08 1.13

Narayana Hrudayalaya Limited 2,028,772 823,377 1.08 1.13

Astral Poly Technik Limited 677,316 1,095,118 1.43 1.50
Supreme Industries Limited 417,192 852,198 1.12 1.17
INSURANCE 1,070,000 744,934 0.98 1.02

HDFC Life Insurance Company Limited 1,070,000 744,934 0.98 1.02


Cipla Limited 1,340,000 1,092,234 1.43 1.50
Divi's Laboratories Limited 543,044 1,967,340 2.58 2.70
496
AXIS FLEXICAP FUND ^ (CONTD.)
Percentage to
category
RETAILING 1,554,008 4,442,987 5.82 6.09

SOFTWARE 6,175,946 11,301,150 14.80 15.53

Infosys Limited 4,600,000 6,293,030 8.24 8.66
TELECOM - SERVICES 1,500,000 775,950 1.02 1.06

Bharti Airtel Limited 1,500,000 775,950 1.02 1.06
TRANSPORTATION 320,000 562,240 0.74 0.77

TOTAL 63,193,066 72,905,326 95.48 100.00
FIXED DEPOSITS
BANKS 742,500,000 742,500 0.99 100.00
TOTAL 742,500,000 742,500 0.99 100.00
TOTAL ASSETS 76,835,940 100.65
NET ASSETS 76,342,593 100.00

^ Name of Axis Multicap Fund has been changed to Axis Flexicap Fund w.e.f. January 30, 2021.
497
AXIS EQUITY SAVER FUND
Percentage to
category

BANKS 359 362,653 5.02 36.02
Bank of Baroda* 120 120,761 1.68 11.99
Canara Bank* 30 30,371 0.42 3.02
CONSTRUCTION 150 150,419 2.07 14.94

DLF Limited* 100 99,807 1.37 9.91
FINANCE 320 356,040 4.91 35.35

REC Limited* 100 109,295 1.51 10.85
- -
POWER 110 112,775 1.55 11.20

Bharti Airtel Limited* 25 25,060 0.35 2.49
TOTAL 964 1,006,947 13.90 100.00
EQUITY SHARES
AUTO 448,016 438,439 6.04 8.98

BANKS 1,280,011 1,018,002 14.02 20.85

IndusInd Bank Limited 900 859 0.01 0.02
State Bank of India 144,000 52,459 0.72 1.07

CHEMICALS 31,500 40,075 0.56 0.82

Tata Chemicals Limited 16,000 12,029 0.17 0.25


Voltas Limited 46,485 46,576 0.64 0.95
498
AXIS EQUITY SAVER FUND (CONTD.)
Percentage to
category
CONSUMER NON DURABLES 234,985 426,284 5.86 8.73

- -
FERTILISERS 74,813 57,946 0.80 1.19
FINANCE 485,549 939,609 12.94 19.25

Sundaram Finance Limited 39,250 100,890 1.39 2.07
- -
INDUSTRIAL CAPITAL GOODS 21,000 1,024 0.01 0.02
Bharat Heavy Electricals Limited 21,000 1,024 0.01 0.02
PESTICIDES 28,600 18,357 0.25 0.38

UPL Limited 28,600 18,357 0.25 0.38


Cipla Limited 50,000 40,755 0.56 0.83
Dr. Reddy's Laboratories Limited 250 1,129 0.02 0.02
Lupin Limited 19,550 19,950 0.27 0.41
RETAILING 37,038 105,893 1.46 2.17

SOFTWARE 248,645 423,553 5.82 8.67

Infosys Limited 190,905 261,168 3.59 5.35

TRANSPORTATION 102,500 71,996 0.99 1.47

TOTAL 4,200,730 4,881,582 67.21 100.00

7.72% GOI (MD 26/10/2055) 40,800 4,585 0.06 3.34
7.26% GOI (MD 14/01/2029) 100,000 10,496 0.14 7.67
7.57% GOI (MD 17/06/2033) 500,000 53,648 0.74 39.18
6.19% GOI (MD 16/09/2034) 200,000 19,136 0.26 13.98
6.54% GUJARAT SDL (MD 01/07/2030) 500,000 49,063 0.68 35.83
TOTAL 1,340,800 136,928 1.88 100.00
499
AXIS EQUITY SAVER FUND (CONTD.)
Percentage to
category
FIXED DEPOSITS
BANKS 570,100,000 570,100 7.87 100.00
TOTAL 570,100,000 570,100 7.87 100.00
OTHER CURRENT ASSETS## 708,809 9.76
TOTAL ASSETS 7,304,366 100.62
NET ASSETS 7,259,492 100.00

##Other current assets includes MTM Payable on Futures
500
AXIS SMALL CAP FUND
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2022 are presented below.
The industry and company exposures are stated as a percentage of the Scheme’s net assets
Amount (Rs.in Percentage to Percentage to

'000) Net Assets Investment category
EQUITY SHARES
MTAR Technologies Limited - Lock in shares 444,444 409,479 0.91 0.99
MTAR Technologies Limited 352,605 360,962 0.80 0.88

Craftsman Automation Limited 11,922 16,923 0.04 0.04
Igarashi Motors India Limited 458,858 125,039 0.28 0.30
BANKS 9,057,207 1,634,671 3.64 3.96

City Union Bank Limited 7,170,168 1,118,188 2.49 2.71
Suryoday Small Finance Bank Limited 1,887,039 516,483 1.15 1.25
CAPITAL MARKETS 453,013 738,029 1.64 1.79

Computer Age Management Services Limited 157,872 291,495 0.65 0.71
Multi Commodity Exchange of India Limited 295,141 446,534 0.99 1.08

HeidelbergCement India Limited 3,501,968 818,060 1.82 1.99
JK Cement Limited 465,976 1,350,049 3.00 3.28
JK Lakshmi Cement Limited 3,668,198 1,588,146 3.53 3.86
CHEMICALS 5,322,114 8,519,435 18.96 20.68

Aarti Industries Limited 842,821 1,110,375 2.47 2.70
Fine Organic Industries Limited 732,725 1,673,434 3.73 4.06
Galaxy Surfactants Limited 1,084,885 2,762,931 6.15 6.71
Neogen Chemicals Limited 1,023,823 881,307 1.96 2.14
SRF Limited 148,568 803,872 1.79 1.95
Sudarshan Chemical Industries Limited 1,147,522 594,589 1.32 1.44
Vinati Organics Limited 183,498 256,888 0.57 0.62
COMMERCIAL SERVICES 81,416 307,073 0.68 0.75

TeamLease Services Limited 81,416 307,073 0.68 0.75
CONSTRUCTION 19,112,942 5,048,232 11.22 12.26

Ahluwalia Contracts (India) Limited 3,942,363 1,179,555 2.62 2.86
Brigade Enterprises Limited 6,443,567 1,790,345 3.98 4.35
KNR Constructions Limited 3,873,356 826,574 1.84 2.01
PNC Infratech Limited 4,853,656 1,251,758 2.78 3.04

Blue Star Limited 1,356,880 1,267,597 2.82 3.08
Orient Electric Limited 3,923,650 1,222,021 2.72 2.97

CCL Products (India) Limited 3,860,248 903,105 2.01 2.19
Mrs. Bectors Food Specialities Limited 586,131 197,292 0.44 0.48
VST Industries Limited 174,703 592,086 1.32 1.44
ENTERTAINMENT 14,978 21,962 0.05 0.05

FERROUS METALS 2,454,840 843,483 1.88 2.05

Jindal Steel & Power Limited 2,454,840 843,483 1.88 2.05
FINANCE 12,355,320 3,947,293 8.78 9.58

Can Fin Homes Limited 2,592,513 1,591,155 3.54 3.86
Cholamandalam Financial Holdings Limited 704,403 422,078 0.94 1.02
JM Financial Limited 7,349,962 621,439 1.38 1.51
Mas Financial Services Limited 1,216,254 1,037,586 2.31 2.52
HEALTHCARE SERVICES 3,317,794 1,654,078 3.68 4.01

Metropolis Healthcare Limited 167,571 375,560 0.84 0.91
Narayana Hrudayalaya Limited 3,150,223 1,278,518 2.84 3.10

EPL Limited 1,170,503 276,473 0.61 0.67
Grindwell Norton Limited 956,411 910,695 2.03 2.21
MM Forgings Limited 167,461 82,759 0.18 0.20
Orient Refractories Limited 3,981,516 898,230 2.00 2.18
Vesuvius India Limited 690,702 665,319 1.48 1.62

Chalet Hotels Limited 839,904 122,878 0.27 0.30

IPCA Laboratories Limited 226,107 430,451 0.96 1.04
501
AXIS SMALL CAP FUND (CONTD.)
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2022 are presented below.
The industry and company exposures are stated as a percentage of the Scheme’s net assets
Amount (Rs.in Percentage to Percentage to

'000) Net Assets Investment category
SOFTWARE 6,447,820 5,537,965 12.31 13.44

Birlasoft Limited 2,464,871 623,736 1.39 1.51
Coforge Limited 386,425 1,131,047 2.52 2.75
Happiest Minds Technologies Limited 963,810 520,506 1.16 1.26
KPIT Technologies Limited 1,400,000 248,570 0.55 0.60
TEXTILE PRODUCTS 531,931 269,583 0.60 0.65

TCNS Clothing Co. Limited 531,931 269,583 0.60 0.65
TOTAL 86,200,413 41,194,159 91.63 100.00
FIXED DEPOSITS
BANKS 98,200,000 98,200 0.23 100.00
98,200,000 98,200 0.23 100.00
TOTAL ASSETS 45,228,191 100.61
NET ASSETS 44,955,359 100.00
502
Percentage to
category

BANKS 224 225,801 3.94 37.15
Bank of Baroda* 100 100,634 1.76 16.55
Canara Bank* 10 10,124 0.18 1.67
Punjab National Bank* 10 10,060 0.17 1.65
Union Bank of India* 3 3,037 0.05 0.50
CONSTRUCTION 70 70,856 1.23 11.65

FINANCE 127 132,601 2.30 21.81


POWER 50 50,425 0.88 8.29


TOTAL 596 607,980 10.58 100.00
EQUITY SHARES
AUTO 20,698 141,972 2.47 3.33


MTAR Technologies Limited - Lock in shares 98,148 90,427 1.57 2.12
BANKS 1,126,014 832,455 14.48 19.53


CHEMICALS 674,845 270,294 4.70 6.34

Camlin Fine Sciences Limited 420,136 59,008 1.03 1.38
Neogen Chemicals Limited 139,583 120,153 2.09 2.82
Sudarshan Chemical Industries Limited 78,000 40,416 0.70 0.95


503
AXIS CHILDREN'S GIFT FUND (CONTD.)
Percentage to
category

FINANCE 150,130 540,456 9.40 12.67


Honeywell Automation India Limited 52 2,469 0.04 0.06
INSURANCE 130,478 180,563 3.15 4.24


PESTICIDES 209,904 178,633 3.11 4.19



Cipla Limited 75,000 61,133 1.06 1.43
RETAILING 71,563 204,602 3.56 4.80

SOFTWARE 326,426 602,300 10.47 14.12

Infosys Limited 240,376 328,846 5.72 7.71

TRANSPORTATION 25,000 43,925 0.76 1.02

TOTAL 4,174,203 4,264,671 74.14 100.00
FIXED DEPOSITS
BANKS 24,550,000 24,550 0.42 100.00
TOTAL 24,550,000 24,550 0.42 100.00

7.59% GOI(MD 11/01/2026) 50,000 5,341 0.09 2.58
7.57% GOI (MD 17/06/2033) 300,000 32,189 0.56 15.52
6.19% GOI (MD 16/09/2034) 1,000,000 95,682 1.66 46.14
6.84% Gujarat SDL (MD 07/10/2030) 250,000 25,044 0.44 12.08
6.55% Tamilnadu SDL (MD 17/06/2030) 500,000 49,099 0.85 23.68
TOTAL 2,100,000 207,355 3.60 100.00
504
AXIS CHILDREN'S GIFT FUND (CONTD.)
Percentage to
category
TREASURY BILL 5,500,000 542,981 9.45 100.00

182 Days Tbill (MD 19/08/2021) 5,500,000 542,981 9.45 100.00
TOTAL 5,500,000 542,981 9.45 100.00
TOTAL ASSETS 5,794,147 100.74
NET ASSETS 5,751,762 100.00
505
Percentage to
category

BANKS 50 50,244 0.54 8.96
CONSTRUCTION 550 101,708 1.09 18.13

Oriental Nagpur Betul Highway Limited* 500 51,096 0.55 9.11
FINANCE 380 403,665 4.33 71.95

India Infrastructure Fin Co Ltd* 25 29,467 0.32 5.25
REC Limited* 10 10,868 0.12 1.93

Hindalco Industries Limited* 5 5,276 0.06 0.94
TOTAL 985 560,893 6.02 100.00
EQUITY SHARES
AUTO 27,837 190,940 2.05 2.85


BANKS 1,724,256 1,301,947 13.94 19.45


CHEMICALS 707,750 213,203 2.28 3.18

Camlin Fine Sciences Limited 558,480 78,439 0.84 1.17
Sudarshan Chemical Industries Limited 76,365 39,569 0.42 0.59



FERROUS METALS 103,898 84,350 0.90 1.26

FINANCE 415,513 825,053 8.83 12.34

INDUSTRIAL CAPITAL GOODS 486 23,075 0.25 0.34

Honeywell Automation India Limited 486 23,075 0.25 0.34
INDUSTRIAL PRODUCTS 263,267 62,184 0.67 0.93

EPL Limited 263,267 62,184 0.67 0.93
506
AXIS TRIPLE ADVANTAGE FUND (CONTD.)
Percentage to
category
INSURANCE 155,983 304,535 3.26 4.56


PESTICIDES 340,102 277,634 2.98 4.15



Cipla Limited 147,923 120,572 1.29 1.80
RETAILING 119,756 399,017 4.27 5.96

SOFTWARE 448,534 854,563 9.15 12.77

Infosys Limited 315,400 431,483 4.62 6.45

TRANSPORTATION 40,000 70,280 0.75 1.05

TOTAL 6,970,400 6,691,163 71.67 99.99
FIXED DEPOSITS
BANKS 61,375,000 61,375 0.66 100.00
TOTAL 61,375,000 61,375 0.66 100.00

6.79% GOI (MD 15/05/2027) 1,500,000 154,711 1.66 75.82
6.19% GOI (MD 16/09/2034) 500,000 47,841 0.51 23.45
8.35% GOI (MD 14/05/2022) 14,200 1,486 0.02 0.73
TOTAL 2,014,200 204,038 2.19 100.00
TREASURY BILL 1,000,000 99,451 1.07 100.00

91 Days Tbill (MD 03/06/2021) 1,000,000 99,451 1.07 100.00
TOTAL 1,000,000 99,451 1.07 100.00
MUTUAL FUND UNITS 24,350,400 936,516 10.02 100.00

Axis Gold ETF 24,350,400 936,516 10.02 100.00
TOTAL 24,350,400 936,516 10.02 100.00
TOTAL ASSETS 9,476,036 101.51
NET ASSETS 9,334,993 100.00

507
AXIS NIFTY ETF
Amount Percentage to Percentage to

(Rs.in '000) Net Assets Investment category
EQUITY SHARES
AUTO 18,328 19,199 5.42 5.42
Bajaj Auto Limited 731 2,683 0.76 0.76
Eicher Motors Limited 781 2,034 0.57 0.57
Hero MotoCorp Limited 727 2,118 0.60 0.60
Maruti Suzuki India Limited 743 5,096 1.44 1.44
BANKS 112,239 93,717 26.42 26.49

Axis Bank Limited 13,872 9,675 2.73 2.74
Yes Bank Limited - (Reconstituted Portfolio - Lock in for 3 years) $ 2,576 - - -

UltraTech Cement Limited 646 4,353 1.23 1.23



Britannia Industries Limited 658 2,385 0.67 0.67
ITC Limited 48,868 10,678 3.01 3.02
Nestle India Limited 200 3,433 0.97 0.97
FERROUS METALS 9,619 5,956 1.68 1.68

FINANCE 11,546 32,775 9.23 9.27

INSURANCE 6,915 8,239 2.32 2.33

Bajaj Finserv Limited 337 3,258 0.92 0.92
MINERALS/MINING 11,705 1,526 0.43 0.43

Coal India Limited 11,705 1,526 0.43 0.43

OIL 20,389 2,083 0.59 0.59

PESTICIDES 3,073 1,972 0.56 0.56

UPL Limited 3,073 1,972 0.56 0.56
508
AXIS NIFTY ETF (CONTD.)



Cipla Limited 2,835 2,311 0.65 0.65
Divi's Laboratories Limited 709 2,569 0.72 0.73
Dr. Reddy's Laboratories Limited 681 3,075 0.87 0.87
POWER 40,854 5,914 1.67 1.67

NTPC Limited 26,547 2,829 0.80 0.80
SOFTWARE 44,326 59,550 16.96 17.06

HCL Technologies Limited 6,067 5,962 1.68 1.69
Infosys Limited 20,704 28,324 7.98 8.23
Wipro Limited 8,299 3,437 0.97 0.97

TRANSPORTATION 4,083 2,868 0.81 0.81

TOTAL 423,117 353,744 99.69 100.00
TOTAL ASSETS 356,432 100.45
NET ASSETS 354,850 100.00
$ Any realisation beyond the carrying value shall be distributed to the set of investors existing the unit holders’ register /BENPOS as on March 13, 2020.
509
Percentage to
category
BANKS 760 774,012 4.87 24.56
Bank of Baroda* 450 464,268 2.92 14.73
Punjab National Bank* 90 90,540 0.57 2.87
Union Bank of India* 20 20,249 0.13 0.64
CONSTRUCTION PROJECT 150 149,710 0.94 4.75

DLF Limited* 150 149,710 0.94 4.75

FINANCE 989 1,052,310 6.62 33.38

Air India Assets Holding Limited 250 257,317 1.62 8.16
Bajaj Housing Finance Limited* 14 18,232 0.11 0.58
Bharti Telecom Limited* 100 103,927 0.65 3.30
REC Limited* 5 5,099 0.03 0.16

Vedanta Limited* 250 249,487 1.57 7.92
POWER 370 386,963 2.43 12.28

NTPC Limited* 250 259,341 1.63 8.23
TOTAL 3,069 3,151,668 19.82 100.00
EQUITY SHARES
AUTO 57,953 397,511 2.50 3.33
AUTO ANCILLARIES 1,704,560 571,521 3.60 4.79

Motherson Sumi Systems Limited 1,522,734 306,755 1.93 2.57
BANKS 3,571,810 2,566,321 16.13 21.54

Suryoday Small Finance Bank Limited - Lock in shares 342,760 84,432 0.51 0.71



510
AXIS EQUITY HYBRID FUND (CONTD.)
Percentage to
category
FINANCE 933,088 1,636,555 10.30 13.72

Mahindra & Mahindra Financial Services Limited 500,000 99,475 0.63 0.82

EPL Limited 507,139 119,786 0.75 0.99
INSURANCE 259,001 441,413 2.78 3.68


PESTICIDES 617,809 437,235 2.75 3.67



Cipla Limited 145,500 118,597 0.75 0.99
RETAILING 259,228 852,799 5.38 7.15

SOFTWARE 874,346 1,647,050 10.36 13.81

Infosys Limited 625,202 855,308 5.38 7.17

TRANSPORTATION 87,926 154,486 0.97 1.30

TOTAL 11,416,343 11,921,120 75.01 100.01
FIXED DEPOSITS
BANKS 85,925,000 85,925 0.54 100.00
TOTAL 85,925,000 85,925 0.54 100.00
TOTAL ASSETS 15,987,421 100.58
NET ASSETS 15,895,315 100.00
511
Axis Growth Opportunities Fund

Percentage to
category
EQUITY SHARES
AUTO 21,971 150,703 0.56 0.76


BANKS 342,636 600,641 2.25 3.01

CHEMICALS 144,338 237,200 0.89 1.19

COMMERCIAL SERVICES 85,345 321,891 1.21 1.61

TeamLease Services Limited 85,345 321,891 1.21 1.61

Dixon Technologies (India) Limited 5,820 21,372 0.08 0.11
Symphony Limited 120,721 152,706 0.57 0.77
ENTERTAINMENT 11,234 16,472 0.06 0.08

FINANCE 3,911,000 5,438,769 20.40 27.29

Sundaram Finance Limited 854,453 2,196,329 8.23 11.01

Narayana Hrudayalaya Limited 85,433 34,673 0.13 0.17

CG Power and Industrial Solutions Limited 643,071 43,021 0.16 0.22
Honeywell Automation India Limited 2,495 118,462 0.44 0.59

Astral Poly Technik Limited 747,762 1,209,019 4.53 6.06
LEISURE SERVICES 2,847,429 315,638 1.18 1.58

The Indian Hotels Company Limited 2,847,429 315,638 1.18 1.58
PESTICIDES 1,373,822 1,529,218 5.73 7.67

PI Industries Limited 574,270 1,296,788 4.86 6.50

POWER 3,666,327 1,464,315 5.49 7.34

Tata Power Company Limited 279,127 28,820 0.11 0.14
512
Axis Growth Opportunities Fund (CONTD.)

Percentage to
category
RETAILING 509,381 2,104,320 7.88 10.55
Info Edge (India) Limited 336,318 1,439,626 5.39 7.22
SOFTWARE 920,666 2,559,147 9.59 12.82

Coforge Limited 265,084 775,888 2.91 3.89

TRANSPORTATION 202,385 387,641 1.46 1.93

Blue Dart Express Limited 8,396 46,802 0.18 0.23
TOTAL 19,961,297 19,946,059 74.75 100.00
FOREIGN SECURITIES
AMERICAN DEPOSITORY RECEIPT

APPAREL, ACCESSORIES AND LUXURY GOODS 13,884 158,510 0.59 17.32
Adidas 13,884 158,510 0.59 17.32
INTERNET & DIRECT MARKETING RETAIL 10,178 171,509 0.64 18.75

Alibaba Group Holding Ltd 10,178 171,509 0.64 18.75
LIFE & HEALTH INSURANCE 50,014 182,177 0.68 19.91

AIA Group Ltd 50,014 182,177 0.68 19.91
PACKAGED FOODS & MEATS 25,002 206,712 0.77 22.59

Nestle Ltd 25,002 206,712 0.77 22.59

Roche Holding Ltd 66,256 196,023 0.73 21.43
TOTAL 165,334 914,931 3.41 100.00
INTERNATIONAL EQUITY
APPLICATION SOFTWARE 12,341 377,397 1.41 7.65
Adobe Inc 5,697 194,914 0.73 3.95
Intuit Inc 6,644 182,483 0.68 3.70
AUTOMOTIVE RETAIL 1,915 200,636 0.75 4.07

Autozone Inc 1,915 200,636 0.75 4.07
CABLE & SATELLITE 50,594 204,465 0.77 4.15

Comcast Corp - Class A 50,594 204,465 0.77 4.15
CONSUMER FINANCE 19,830 209,151 0.78 4.24

American Express Co 19,830 209,151 0.78 4.24
DATA PROCESSING & OUTSOURCED SERVICES 13,355 208,013 0.78 4.22

Visa Inc 13,355 208,013 0.78 4.22
DISTILLERS & VINTNERS 62,969 192,610 0.72 3.91

Diageo PLC 62,969 192,610 0.72 3.91
513
Axis Growth Opportunities Fund (CONTD.)

Percentage to
category
DIVERSIFIED BANKS 21,787 247,392 0.93 5.02
JP Morgan Chase & Co 21,787 247,392 0.93 5.02
HEALTH CARE EQUIPMENT 27,322 166,387 0.62 3.38

Edwards Lifesciences Corp 27,322 166,387 0.62 3.38
HOME IMPROVEMENT RETAIL 15,691 219,162 0.82 4.45

Lowes Cos Inc 15,691 219,162 0.82 4.45
HOUSEHOLD PRODUCTS 21,264 211,709 0.79 4.30

Procter & Gamble Co 21,264 211,709 0.79 4.30
INDUSTRIAL MACHINERY 32,320 169,647 0.64 3.44

Fortive Corp 32,320 169,647 0.64 3.44
INTERACTIVE MEDIA & SERVICES 15,039 607,511 2.27 12.33

Alphabet Inc A 2,237 336,501 1.26 6.83
Facebook Inc 12,802 271,010 1.01 5.50

Amazon Com Inc 1,431 321,371 1.20 6.52
Booking Holdings Inc 1,146 196,683 0.74 3.99
MANAGED HEALTH CARE 8,119 222,935 0.83 4.52

Unitedhealth Group Inc 8,119 222,935 0.83 4.52

Merck & Co. Inc 32,556 184,167 0.69 3.73
RAILROADS 11,683 189,897 0.71 3.84

Union Pacific Ord 11,683 189,897 0.71 3.84
SEMICONDUCTORS 15,151 207,076 0.78 4.20

Texas Instruments Inc 15,151 207,076 0.78 4.20
SYSTEMS SOFTWARE 22,333 380,600 1.43 7.72

Microsoft Corp 22,333 380,600 1.43 7.72
TOBACCO 32,280 212,004 0.77 4.32

Philip Morris International Ord 32,280 212,004 0.77 4.32
TOTAL 419,126 4,928,813 18.43 100.00
TOTAL ASSETS 26,933,891 100.87
NET ASSETS 26,702,768 100.00
514
Percentage to
category
EQUITY SHARES
AUTO 177,573 185,841 4.64 4.65
Eicher Motors Limited 7,555 19,673 0.49 0.49
Hero MotoCorp Limited 7,041 20,515 0.51 0.51

Bosch Limited 451 6,354 0.16 0.16
MRF Limited 107 8,802 0.22 0.22
BANKS 1,973,154 934,125 23.35 23.42

Punjab National Bank 127,781 4,683 0.12 0.12
Yes Bank Limited 662,652 10,337 0.26 0.26
Yes Bank Limited - (Reconstituted Portfolio - Lock in for 3 years) $ 85,011 - - -

ACC Limited 4,581 8,719 0.22 0.22
CAPITAL MARKETS 2,819 8,229 0.21 0.21

HDFC Asset Management Company Limited 2,819 8,229 0.21 0.21
CHEMICALS 8,266 14,957 0.37 0.37

CONSTRUCTION 33,554 9,632 0.24 0.24

DLF Limited 33,554 9,632 0.24 0.24



Berger Paints (I) Limited 12,875 9,849 0.25 0.25
Britannia Industries Limited 6,399 23,197 0.58 0.58
Colgate Palmolive (India) Limited 7,223 11,263 0.28 0.28
Godrej Consumer Products Limited 20,513 14,967 0.37 0.38
ITC Limited 472,435 103,227 2.58 2.59
Marico Limited 28,007 11,519 0.29 0.29
Procter & Gamble Hygiene and Health Care Limited 495 6,276 0.16 0.16
United Breweries Limited 5,884 7,305 0.18 0.18
FERROUS METALS 93,360 57,788 1.44 1.45

515
AXIS NIFTY 100 INDEX FUND (CONTD.)
Percentage to
category
FINANCE 133,902 350,741 8.77 8.79

Bajaj Holdings & Investment Limited 2,716 8,944 0.22 0.22
Muthoot Finance Limited 5,722 6,900 0.17 0.17
Piramal Enterprises Limited 6,481 11,362 0.28 0.28
SBI Cards and Payment Services Limited 7,464 6,928 0.17 0.17
GAS 157,176 32,073 0.80 0.80

GAIL (India) Limited 97,542 13,217 0.33 0.33
Indraprastha Gas Limited 18,976 9,722 0.24 0.24

Apollo Hospitals Enterprise Limited 5,219 15,149 0.38 0.38

Siemens Limited 4,716 8,696 0.22 0.22
INSURANCE 101,321 107,530 2.70 2.71

ICICI Prudential Life Insurance Company Limited 20,520 9,144 0.23 0.23

Jubilant Foodworks Limited 3,969 11,554 0.29 0.29
MINERALS/MINING 178,314 36,339 0.91 0.91

Adani Enterprises Limited 14,258 14,702 0.37 0.37
Coal India Limited 113,620 14,810 0.37 0.37
NMDC Limited 50,436 6,827 0.17 0.17

Vedanta Limited 86,744 19,843 0.50 0.50
OIL 197,819 20,207 0.51 0.51

PESTICIDES 29,829 19,146 0.48 0.48

UPL Limited 29,829 19,146 0.48 0.48

Hindustan Petroleum Corporation Limited 38,100 8,934 0.22 0.22

Abbott India Limited 281 4,210 0.11 0.11
Alkem Laboratories Limited 2,210 6,121 0.15 0.15
Aurobindo Pharma Limited 15,251 13,441 0.34 0.34
Biocon Limited 23,545 9,628 0.24 0.24
Cadila Healthcare Limited 13,570 5,983 0.15 0.15
Cipla Limited 27,547 22,454 0.56 0.56
Dr. Reddy's Laboratories Limited 6,582 29,724 0.74 0.75
Lupin Limited 13,029 13,295 0.33 0.33
POWER 431,990 94,311 2.36 2.37

Adani Green Energy Limited 21,202 23,425 0.59 0.59
Adani Transmission Limited 14,906 13,541 0.34 0.34
NTPC Limited 256,893 27,372 0.68 0.69
516
AXIS NIFTY 100 INDEX FUND (CONTD.)
Percentage to
category
RETAILING 12,189 40,696 1.02 1.02

SOFTWARE 431,386 586,231 14.68 14.71

Infosys Limited 200,395 274,150 6.87 6.88
Wipro Limited 80,356 33,279 0.83 0.83
TELECOM - EQUIPMENT & ACCESSORIES 43,711 10,709 0.27 0.27

Indus Towers Limited 43,711 10,709 0.27 0.27

TRANSPORTATION 44,757 36,176 0.91 0.87

InterGlobe Aviation Limited 5,098 8,320 0.21 0.17
TOTAL 5,878,090 3,988,667 99.74 100.00
TOTAL ASSETS 4,102,216 102.58
NET ASSETS 3,999,199 100.00
$ Any realisation beyond the carrying value shall be distributed to the set of investors existing the unit holders’ register /BENPOS as on March 13, 2020.
517

Percentage to
category
BANKS 125 125,639 2.21 16.53
Bank of Baroda* 125 125,639 2.21 16.53
CONSTRUCTION 200 219,157 3.86 28.83
FINANCE 380 415,498 7.32 54.64
REC Limited* 175 194,386 3.42 25.56
TOTAL 705 760,294 13.39 100.00
EQUITY SHARES
AUTO 27,510 188,697 3.32 4.10
BANKS 772,657 699,818 12.32 15.22
CHEMICALS 157,819 285,558 5.03 6.21
V-Guard Industries Limited 460,829 116,290 2.05 2.53
CONSUMER NON DURABLES 13,658 234,442 -
4.13 -
5.10
FINANCE 309,441 748,434 13.17 16.26
Astral Poly Technik Limited 115,941 187,459 3.30 4.07
PESTICIDES 75,000 169,361 2.98 3.68
POWER 343,642 145,635 2.56 3.17
Torrent Power Limited 343,642 145,635 2.56 3.17
RETAILING 216,897 758,937 13.35 16.49
SOFTWARE 118,598 376,887 6.65 8.19
TOTAL 2,996,345 4,600,789 81.00 100.00
GOVERNMENT SECURITIES
GOVERNMENT BOND 900,000 96,566 1.72 100.00
7.57% GOI (MD 17/06/2033) 900,000 96,566 1.72 100.00
TOTAL 900,000 96,566 1.72 100.00
TOTAL ASSETS 5,696,195 100.31
NET ASSETS 5,678,749 100.00
518
AXIS RETIREMENT SAVINGS FUND - CONSERVATIVE PLAN

Percentage to
category
BANKS 75 75,550 7.34 23.07
Bank of Baroda* 75 75,550 7.34 23.07
CONSTRUCTION 40 42,064 4.08 12.84
FINANCE 190 209,865 20.38 64.09
REC Limited* 85 94,416 9.17 28.83
TOTAL 305 327,479 31.80 100.00
EQUITY
AUTO 37,360 60,639 5.89 16.37
Hero MotoCorp Limited 6,266 18,257 1.77 4.93
Amara Raja Batteries Limited 21,717 18,542 1.80 5.00
Exide Industries Limited 109,637 20,129 1.95 5.43
CAPITAL MARKETS 43,379 16,605 1.61 4.48

ICICI Securities Limited 43,379 16,605 1.61 4.48


Consumer Non Durables 32,681 7,141 0.69 1.93

ITC Limited 32,681 7,141 0.69 1.93
ENTERTAINMENT 118,274 28,681 2.78 7.74
Sun TV Network Limited 17,402 8,184 0.79 2.21
Zee Entertainment Enterprises Limited 100,872 20,497 1.99 5.53
FINANCE 3,655 9,395 0.91 2.54
GAS 74,811 16,806 1.63 4.54
Non - Ferrous Metals 65,995 18,010 1.75 4.86
Hindustan Zinc Limited 65,995 18,010 1.75 4.86
PESTICIDES 49,274 12,456 1.21 3.36
Rallis India Limited 49,274 12,456 1.21 3.36
RETAILING 381 1,089 0.11 0.29

Avenue Supermarts Limited 381 1,089 0.11 0.29
SOFTWARE 66,518 94,637 9.19 25.54

Infosys Limited 9,385 12,839 1.25 3.47
MphasiS Limited 14,335 25,466 2.47 6.87
Oracle Financial Services Software Limited 6,373 20,387 1.98 5.50
TELECOM - EQUIPMENT & ACCESSORIES 28,386 6,955 0.68 1.88

Indus Towers Limited 28,386 6,955 0.68 1.88
TOTAL 682,843 370,507 35.97 100.00
TREASURY BILL 1,500,000 148,086 14.38 100.00

182 Days Tbill (MD 19/08/2021) 1,500,000 148,086 14.38 100.00
TOTAL 1,500,000 148,086 14.38 100.00
TOTAL ASSETS 1,034,272 100.43

NET ASSETS 1,029,809 100.00
519

Percentage to
category
BANKS 100 100,455 3.91 47.47
Bank of Baroda* 100 100,455 3.91 47.47
FINANCE 100 111,185 4.33 52.53
REC Limited* 50 55,539 2.16 26.24
TOTAL 200 211,640 8.24 100.00
EQUITY SHARES
AUTO 9,628 66,040 2.57 3.13
BANKS 479,262 379,983 14.78 18.01
CHEMICALS 59,179 107,078 4.17 5.08
V-Guard Industries Limited 230,414 58,145 2.26
- 2.76
-
FINANCE 96,772 373,072 14.52 17.69
Abbott India Limited 2,890 43,302 1.69 2.05
POWER 314,990 133,493 5.20 6.33
Torrent Power Limited 314,990 133,493 5.20 6.33
RETAILING 66,381 229,308 8.90 10.87
SOFTWARE 36,330 115,451 4.49 5.45
TOTAL 1,503,867 2,109,689 82.10 100.00

TOTAL ASSETS 2,579,290 100.38
NET ASSETS 2,569,428 100.00
520

Percentage to
category
EQUITY SHARES
BANKS 1,716,224 2,764,066 14.52 20.33
HDFC Bank Limited 942,644 1,407,980 7.40 10.36
Kotak Mahindra Bank Limited 773,580 1,356,086 7.12 9.97


FINANCE 766,187 2,634,394 13.84 19.38

INSURANCE 847,431 589,981 3.10 4.35

POWER 1,527,971 647,554 3.41 4.76

Torrent Power Limited 1,527,971 647,554 3.41 4.76
RETAILING 877,922 2,839,287 14.94 20.88

Avenue Supermarts Limited 646,290 1,847,775 9.72 13.59
SOFTWARE 2,670,102 2,363,933 12.44 17.38

Tata Consultancy Services Limited 455,227 1,446,643 7.61 10.63
Wipro Limited 2,214,875 917,290 4.83 6.75
TOTAL 8,813,647 13,595,669 71.48 100.00
FOREIGN SECURITIES
INTERNATIONAL EQUITY
AGRICULTURAL & FARM MACHINERY 5,479 150,590 0.79 4.85
Deere & Co 5,479 150,590 0.79 4.85

Adobe Inc 2,830 96,824 0.51 3.12
BUILDING PRODUCTS 11,153 136,865 0.72 4.40

Trane Technologies Plc 11,153 136,865 0.72 4.40

Mastercard Incorporated 3,899 102,658 0.54 3.30
Visa Inc 9,140 142,361 0.75 4.58

The Toronto-Dominion Bank 27,887 134,141 0.70 4.32
ELECTRICAL COMPONENTS & EQUIPMENT 69,852 101,559 0.53 3.27

Vertiv Holdings Co 69,852 101,559 0.53 3.27

Dexcom Inc 2,765 70,565 0.37 2.27

Alphabet Inc A 1,846 277,685 1.46 8.94
521
AXIS ESG EQUITY FUND (CONTD.)

Percentage to
category
INDUSTRIAL MACHINERY 16,019 141,843 0.75 4.57
Spirax-Sarco Engineering PLC 4,711 54,668 0.29 1.76
Xylem Inc/NY 11,308 87,175 0.46 2.81

LIFE SCIENCES TOOLS & SERVICES 3,825 126,933 0.67 4.08

Thermo Fisher Scientific Inc 3,825 126,933 0.67 4.08
MANAGED HEALTH CARE 8,303 225,389 1.18 7.25

Anthem Inc 3,732 99,877 0.52 3.21
Unitedhealth Group Inc 4,571 125,512 0.66 4.04

Kerry Group PLC 9,616 89,499 0.47 2.88
PERSONAL PRODUCTS 31,167 127,804 0.67 4.11

Unilever PLC 31,167 127,804 0.67 4.11
REGIONAL BANKS 11,708 144,640 0.76 4.65

First Republic Bank 11,708 144,640 0.76 4.65
RESTAURANTS 44,695 101,791 0.53 3.28

Greggs PLC 44,695 101,791 0.53 3.28
SEMICONDUCTORS 15,607 213,308 1.12 6.86

Texas Instruments Inc 15,607 213,308 1.12 6.86
SEMICONDUCTOR EQUIPMENT 3,671 162,250 0.85 5.22

ASML Holding NV 3,671 162,250 0.85 5.22

Microsoft Corp 15,026 256,074 1.35 8.24
TRADING COMPANIES & DISTRIBUTORS 45,328 105,337 0.55 3.40

Bunzl PLC 45,328 105,337 0.55 3.40
TOTAL 340,977 3,107,373 16.32 100.00

APPAREL, ACCESSORIES AND LUXURY GOODS 12,410 141,682 0.74 7.59
Adidas 12,410 141,682 0.74 7.59
BUILDING PRODUCTS 169,745 177,673 0.93 9.52

Assa Abloy Ab 169,745 177,673 0.93 9.52

Banco Bilbao Vizcaya Argentaria 363,666 141,141 0.74 7.56
Bank Central Asia 35,928 146,833 0.77 7.87
DRUG RETAIL 221,649 70,708 0.37 3.79

Raia Drogasil 221,649 70,708 0.37 3.79
ELECTRICAL COMPONENTS & EQUIPMENT 46,638 102,672 0.54 5.50

Schneider Electric SE 46,638 102,672 0.54 5.50
522
AXIS ESG EQUITY FUND (CONTD.)

Percentage to
category
ENVIRONMENTAL & FACILITIES SERVICES 17,357 56,136 0.29 3.01
Tomra Systems ASA 17,357 56,136 0.29 3.01
HEAVY ELECTRICAL EQUIPMENT 21,470 103,463 0.54 5.54

Vestas Wind Systems AS 21,470 103,463 0.54 5.54
HUMAN RESOURCE & EMPLOYMENT SERVICES 243,901 173,899 0.91 9.32

Recruit Holdings Co. Ltd 243,901 173,899 0.91 9.32

Tencent Holdings Ltd 28,091 162,770 0.86 8.72
LIFE & HEALTH INSURANCE 42,007 153,012 0.80 8.20

AIA Group Ltd 42,007 153,012 0.80 8.20

Nestle Ltd 16,440 135,923 0.71 7.28

Roche Holding Ltd 51,755 153,120 0.80 8.20
SEMICONDUCTORS 17,428 147,409 0.77 7.90

Taiwan Semiconductor Manufacturing Co Ltd 17,428 147,409 0.77 7.90
TOTAL 1,288,485 1,866,441 9.77 100.00
TOTAL ASSETS 19,169,899 100.72
NET ASSETS 19,032,902 100.00
523
AXIS GLOBAL EQUITY ALPHA FUND OF FUND
Percentage to
category
MUTUAL FUND UNITS

INTERNATIONAL MUTUAL FUND 1,572,600 13,700,141 99.02 100.00
Schroder ISF Global Equity Alpha Class X1 Acc 1,572,600 13,700,141 99.02 100.00
TOTAL 1,572,600 13,700,141 99.02 100.00
TOTAL ASSETS 13,902,803 100.48
NET ASSETS 13,835,843 100.00
524
AXIS BANKING ETF

EQUITY SHARES
BANKS 797,349 418,624 95.38 100.00
AU Small Finance Bank Limited 2,800 3,438 0.78 0.82
IDFC First Bank Limited 78,918 4,396 1.00 1.05
Punjab National Bank 90,557 3,319 0.76 0.79
RBL Bank Limited 16,855 3,498 0.80 0.84
The Federal Bank Limited 75,042 5,688 1.29 1.36
TOTAL 797,349 418,624 95.38 100.00
NET ASSETS 438,867 100.00
525
AXIS SPECIAL SITUATIONS FUND

Percentage to
category
EQUITY SHARES
AUTO 55,409 380,061 1.66 2.40
AUTO ANCILLARIES 2,443,679 492,279 2.15 3.11

BANKS 2,641,272 2,770,465 12.12 17.52


CHEMICALS 261,689 473,500 2.07 2.99



Voltas Limited 233,651 234,107 1.02 1.48


ENTERTAINMENT 127,815 187,415 0.82 1.19

FINANCE 1,408,803 1,314,044 5.74 8.31


Narayana Hrudayalaya Limited 699,143 283,747 1.24 1.79
INDUSTRIAL CAPITAL GOODS 686,729 2,022,309 8.85 12.79

ABB India Limited 283,468 399,704 1.75 2.53
Honeywell Automation India Limited 19,261 914,509 4.00 5.78
Siemens Limited 384,000 708,096 3.10 4.48
INSURANCE 692,850 901,463 3.94 5.70


Reliance Industries Limited 513,030 1,027,650 4.49 6.50

RETAILING 445,485 1,858,810 8.13 11.75

526
AXIS SPECIAL SITUATIONS FUND (CONTD.)

Percentage to
category
SOFTWARE 1,030,326 1,141,182 5.00 7.23
Tata Elxsi Limited 129,741 349,380 1.53 2.21
Wipro Limited 749,040 310,215 1.36 1.96

TRANSPORTATION 248,964 437,430 1.91 2.77

TOTAL 12,994,115 15,812,347 69.14 100.00
FOREIGN SECURITIES
INTERNATIONAL EQUITIES
Adobe Inc 4,291 146,810 0.64 3.01
ASSET MANAGEMENT & CUSTODY BANKS 4,257 234,451 1.02 4.81

Blackrock Inc 4,257 234,451 1.02 4.81

Square Inc 9,046 141,516 0.62 2.90
Visa Inc 16,289 253,712 1.11 5.20
ELECTRIC UTILITIES 27,809 151,713 0.66 3.11

NextEra Energy Inc 27,809 151,713 0.66 3.11
ELECTRONIC COMPONENTS 31,932 153,950 0.67 3.16

Amphenol Corp 31,932 153,950 0.67 3.16
ELECTRONIC EQUIPMENT & INSTRUMENTS 27,168 151,850 0.66 3.11

Trimble Inc 27,168 151,850 0.66 3.11
FINANCIAL EXCHANGES & DATA 6,918 151,296 0.66 3.10

Moody's Corp 6,918 151,296 0.66 3.10

Dexcom Inc 4,190 106,932 0.47 2.19
IDEXX Laboratories Inc 4,075 142,562 0.62 2.92
HEALTH CARE SUPPLIES 7,480 153,036 0.67 3.14

West Pharmaceutical Services Inc 7,480 153,036 0.67 3.14
HYPERMARKETS AND SUPERCENTERS 6,953 178,750 0.78 3.67

Costco Wholesale Corp 6,953 178,750 0.78 3.67
INDUSTRIAL GASES 8,181 167,931 0.73 3.44

Linde PLC 8,181 167,931 0.73 3.44
INTERACTIVE HOME ENTERTAINMENT 21,611 147,191 0.64 3.02

Activision Blizzard Inc 21,611 147,191 0.64 3.02

Alphabet Inc A 1,924 289,418 1.27 5.94
Facebook Inc 9,828 208,052 0.91 4.27
Snap Inc 25,393 92,597 0.40 1.90
527
AXIS SPECIAL SITUATIONS FUND (CONTD.)

Percentage to
category
Amazon Com Inc 1,000 224,578 0.98 4.61
MercadoLibre Inc 802 84,183 0.37 1.73
IT CONSULTING & OTHER SERVICES 7,751 113,446 0.50 2.33

Globant S.A. 7,751 113,446 0.50 2.33
LIFE SCIENCES TOOLS & SERVICES 5,280 175,218 0.77 3.59

Thermo Fisher Scientific Inc 5,280 175,218 0.77 3.59
MOVIES & ENTERTAINMENT 4,065 153,399 0.67 3.15

Netflix Inc 4,065 153,399 0.67 3.15

Catalent Inc 14,005 106,618 0.47 2.19
SEMICONDUCTOR EQUIPMENT 9,733 295,842 1.29 6.07

ASML Holding NV 4,197 185,497 0.81 3.81
Solaredge Technologies Inc 5,536 110,345 0.48 2.26
SEMICONDUCTORS 28,069 350,891 1.53 7.19

Advanced Micro Devices Inc 15,016 83,885 0.37 1.72
Nvidia Corp Com 3,896 147,446 0.64 3.02
Qorvo Inc 9,157 119,560 0.52 2.45

Microsoft Corp 17,215 293,379 1.27 6.03
TOTAL 306,463 4,874,928 21.28 100.00

INTERACTIVE HOME ENTERTAINMENT 6,903 108,762 0.48 21.86
Sea Ltd 6,903 108,762 0.48 21.86

JD Com Inc 27,826 169,763 0.74 34.11
SEMICONDUCTORS 25,904 219,101 0.96 44.03

Taiwan Semiconductor Manufacturing Co Ltd 25,904 219,101 0.96 44.03
TOTAL 60,633 497,626 2.18 100.00
TOTAL ASSETS 23,049,498 100.75
NET ASSETS 22,876,976 100.00
528
AXIS GREATER CHINA EQUITY FUND OF FUND
Percentage to
category
MUTUAL FUND UNITS
INTERNATIONAL MUTUAL FUND 561,363 424,015 96.00 100.00

Schroder ISF Greater China Class X Acc 561,363 424,015 96.00 100.00
TOTAL 561,363 424,015 96.00 100.00
NET ASSETS 441,710 100.00
529
AXIS TECHNOLOGY ETF

EQUITY SHARES
SOFTWARE 357,527 454,225 96.78 100.00
Coforge Limited 2,708 7,926 1.69 1.74
Infosys Limited 88,356 120,875 25.76 26.61
MindTree Limited 7,968 16,605 3.54 3.66
MphasiS Limited 10,993 19,529 4.16 4.30
Oracle Financial Services Software Limited 2,366 7,569 1.61 1.67
Wipro Limited 109,825 45,484 9.69 10.01
TOTAL 357,527 454,225 96.78 100.00
NET ASSETS 469,306 100.00
530
AXIS GOLD ETF
Percentage to
Industry and Company Particulars Quantity (In Kg.) Investment
category
GOLD 870 3,822,657 96.52 100.00

GOLD .995 1KG BAR 870 3,822,657 96.52 100.00
TOTAL 870 3,822,657 96.52 100.00
TOTAL ASSETS 3,963,729 100.08
NET ASSETS 3,960,388 100.00
531

Percentage to
category

FINANCE 834 870,306 76.18 85.09
Export Import Bank of India* 95 97,629 8.55 9.54
Kotak Mahindra Prime Limited* 126 123,940 10.85 12.12
REC Limited 10 10,097 0.88 0.99
REC Limited* 95 96,873 8.48 9.47
POWER 150 152,548 13.35 14.91

NHPC Limited* 100 101,486 8.88 9.92
TOTAL 984 1,022,854 89.53 100.00
TOTAL ASSETS 1,142,797 100.04
NET ASSETS 1,142,330 100.00
532
Percentage to
category

AUTO 47 47,336 8.88 9.51
Tata Motors Limited* 47 47,336 8.88 9.51

FINANCE 50,145 228,165 42.77 45.83

REC Limited 49 49,477 9.27 9.93
Shriram Transport Finance Company Limited* 25,000 25,140 4.71 5.05

Vedanta Limited* 33 33,034 6.19 6.63
POWER 91 91,354 17.13 18.34

RETAILING 41 51,697 9.69 10.38

Aditya Birla Fashion and Retail Limited* 41 51,697 9.69 10.38
TOTAL 50,403 497,970 93.36 100.00
NET ASSETS 533,293 100.00
533
Percentage to
category

AUTO 203 204,452 5.10 5.50
Tata Motors Limited* 203 204,452 5.10 5.50

FINANCE 201,463 1,935,032 48.23 52.02

REC Limited 160 161,557 4.03 4.34
REC Limited* 210 213,351 5.32 5.74

Vedanta Limited* 235 235,243 5.87 6.32
POWER 434 436,285 10.88 11.73


RETAILING 309 389,621 9.74 10.47

Aditya Birla Fashion and Retail Limited* 309 389,621 9.74 10.47
TOTAL 203,158 3,719,969 92.77 100.00
TOTAL ASSETS 4,011,063 100.03
NET ASSETS 4,009,814 100.00
534
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at
March 31, 2021 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net
assets
Percentage to
category

Privately placed / unlisted debentures and bonds
FINANCE 21 21,646 8.00 100.00
Tata Sons Private Ltd* 21 21,646 8.00 100.00
TOTAL 21 21,646 8.00 100.00

CONSTRUCTION 20 20,665 7.64 8.90

FINANCE 129 148,858 54.99 64.13

REC Limited* 21 21,625 7.99 9.32
POWER 51 42,608 15.74 18.35

NHPC Limited* 10 1,039 0.38 0.45
TOTAL 219 232,142 85.76 100.00
NET ASSETS 270,619 100.00
535
Percentage to
category

FINANCE 207 239,290 73.50 82.55

REC Limited* 26 27,090 8.32 9.35
POWER 27 27,389 8.41 9.46

TOTAL 256 289,849 89.03 100.00
GOVERNMENT SECURITIES 200,000 20,819 6.41 100.00

8.75% Kerala SDL (MD 22/02/2022) 200,000 20,819 6.41 100.00
TOTAL 200,000 20,819 6.41 100.00
NET ASSETS 325,495 100.00
536
Percentage to
category

CONSTRUCTION 10 10,226 2.66 3.00

FINANCE 199 232,945 60.48 68.40

REC Limited* 24 25,006 6.49 7.34
POWER 370 65,771 17.08 19.32

NHPC Limited* 340 35,339 9.18 10.38
TOTAL 609 340,538 88.42 100.00
GOVERNMENT SECURITIES 295,000 30,708 7.98 100.00

8.75% Kerala SDL (MD 22/02/2022) 295,000 30,708 7.98 100.00
TOTAL 295,000 30,708 7.98 100.00
NET ASSETS 385,099 100.00
537
Percentage to
category

CONSTRUCTION 85 87,561 8.25 8.74
FINANCE 734 812,861 76.57 81.23

REC Limited* 73 75,929 7.15 7.59
POWER 197 100,469 9.47 10.03

NHPC Limited* 110 11,433 1.08 1.14
TOTAL 1,016 1,000,891 94.29 100.00
TOTAL ASSETS 1,061,594 100.02
NET ASSETS 1,061,347 100.00
538


FINANCE 25,000 25,231 0.20 9.11

TRANSPORTATION 50 51,169 0.40 18.48

TOTAL 25,250 276,878 2.19 100.00
EQUITY SHARES
AUTO 278,432 393,834 3.11 4.32

BANKS 3,056,662 2,215,713 17.51 24.33

City Union Bank Limited 1,119,162 174,533 1.38 1.92

CHEMICALS 182,800 330,758 2.62 3.63


Voltas Limited 101,700 101,898 0.81 1.12

FINANCE 681,760 962,882 7.62 10.58


INSURANCE 305,434 468,036 3.70 5.14



Cipla Limited 325,000 264,908 2.10 2.91
539

RETAILING 120,559 344,684 2.73 3.78

SOFTWARE 903,000 1,519,887 12.02 16.68

Infosys Limited 480,000 656,664 5.19 7.21

TOTAL 7,702,329 9,111,344 72.06 100.00
SECURITISED DEBT
RENT-A-DEVICE TRUST 109 110,163 0.87 100.00
TOTAL 109 110,163 0.87 100.00
TOTAL ASSETS 12,660,136 100.13
NET ASSETS 12,644,176 100.00
540


FERROUS METALS 160 284,848 4.69 44.39
FINANCE 250 255,931 4.21 39.89

REC Limited 250 255,931 4.21 39.89
POWER 100 100,850 1.66 15.72

TOTAL 510 641,629 10.56 100.00
EQUITY SHARES
AUTO 118,560 242,589 3.99 4.54
Eicher Motors Limited 25,000 65,099 1.07 1.22

BANKS 816,000 671,888 11.06 12.58

CEMENT 361,253 146,540 2.41 2.75

The Ramco Cements Limited 50,406 50,535 0.83 0.95
CHEMICALS 1,161,028 239,865 3.95 4.50

Camlin Fine Sciences Limited 1,102,391 154,831 2.55 2.90


FERTILISERS 71,232 55,173 0.91 1.03

FINANCE 341,999 768,702 12.65 14.39

Cholamandalam Financial Holdings Limited 155,144 92,962 1.53 1.74

AIA Engineering Limited 36,824 75,589 1.24 1.41
PESTICIDES 190,507 233,448 3.84 4.36


Castrol India Limited 210,000 26,313 0.43 0.49
541
AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS) (CONTD.)


IPCA Laboratories Limited 57,771 109,982 1.81 2.06
RETAILING 76,565 218,903 3.60 4.10

SOFTWARE 375,163 650,387 10.72 12.18

Infosys Limited 178,575 244,300 4.03 4.57
TRANSPORTATION 102,217 61,126 1.01 1.11

Container Corporation of India Limited 102,217 61,126 1.01 1.11
TOTAL 5,333,945 5,343,982 87.96 100.00
DERIVATIVES 71,250 4,339 0.07 100.00

Nifty 50 Index 10500 Put December 2021 Option 71,250 4,339 0.07 100.00
TOTAL 71,250 4,339 0.07 100.00
TOTAL ASSETS 6,126,360 100.84
NET ASSETS 6,075,160 100.00
542

(Rs.in '000) Assets category
FINANCE 140 144,331 1.20 100.00
TOTAL 140 144,331 1.20 100.00
EQUITY SHARES
AUTO 308,849 420,551 3.50 3.85
BANKS 3,671,064 2,656,061 22.09 24.36

City Union Bank Limited 1,243,231 193,882 1.61 1.78
HDFC Bank Limited 728,088 1,087,509 9.04 9.98

JK Lakshmi Cement Limited 234,965 101,728 0.85 0.93
CHEMICALS 346,873 746,590 6.22 6.85

Galaxy Surfactants Limited 92,787 236,305 1.97 2.17
SRF Limited 42,884 232,037 1.93 2.13



FERROUS METALS 478,406 164,380 1.37 1.51

FINANCE 1,275,774 1,939,849 16.14 17.78

INSURANCE 12,300 118,924 0.99 1.09



Cipla Limited 121,008 98,634 0.82 0.90
RETAILING 31,460 89,946 0.75 0.82

SOFTWARE 1,067,173 1,790,140 14.89 16.41

Infosys Limited 612,348 837,723 6.97 7.68
TEXTILE PRODUCTS 258,458 130,987 1.09 1.19

TCNS Clothing Co. Limited 258,458 130,987 1.09 1.19
TOTAL 8,994,045 10,909,970 90.78 100.00
543
AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS) (CONTD.)

(Rs.in '000) Assets category
FIXED DEPOSITS
BANKS 98,200,000 98,200 0.82 100.00
TOTAL 98,200,000 98,200 0.82 100.00
TOTAL ASSETS 12,033,734 100.13
NET ASSETS 12,018,637 100.00

Investments made in futures have been disclosed in Attachment 3
544
Axis Mutual Fund Annexure I

Disclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996
Investments made by the schemes of Axis Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme
Company invested in the scheme Investment made by the scheme in the company
(B)
(A) Aggregate cost of
Schemes in which companies (Refer "A") had invested more Investments made by the Schemes of Axis Mutual Fund in the
Companies which had invested more than 5% of the acquisition for period April Outstanding as on
than 5% of the net assets Company or its subsidiary
net assets of the schemes (Refer "B") 01, 2018 to March 31, March 31, 2021
2021 (Rupees in Crores) (Rupees in Crores)
Adani Enterprises Limited Axis Overnight Fund Axis Arbitrage Fund 0.82 -
Axis Nifty 100 Index Fund - 1.47
Aadhar Housing Finance Limited Axis Overnight Fund Axis Treasury Advantage Fund - 187.52
Axis Strategic Bond Fund - 15.38
Axis Credit Risk Fund - 15.30
Axis Ultra Short Term Fund - 25.47
Adani Green Energy Limited Axis Overnight Fund Axis Nifty 100 Index Fund 1.75 2.34
Adani Ports and Special Economic Zone Limited Axis Overnight Fund Axis Arbitrage Fund 73.31 101.85
Axis Corporate Debt Fund 24.36 -
Axis Dynamic Equity Fund 2.67 4.57
Axis Equity Saver Fund 2.42 7.20
Axis Liquid Fund 3797.05 -
Axis Money Market Fund 48.71 -
Axis Nifty 100 Index Fund 2.98 2.79
Axis Nifty ETF 0.13 0.29
Axis Retirement Savings Fund - Conservative Plan 1.94 -
Axis Treasury Advantage Fund 198.71 -
Axis Ultra Short Term Fund 548.19 -
Adani Transmission Limited Axis Overnight Fund Axis Arbitrage Fund 16.26 -
Aditya Birla Finance Limited Axis Overnight Fund Axis Arbitrage Fund 152.69 -
Axis Banking & PSU Debt Fund 50.00 50.15
Axis Corporate Debt Fund 210.20 100.30
Axis Liquid Fund 7951.05 248.97
Axis Overnight Fund 569.93 -
Axis Short Term Fund 656.88 88.57
Axis Treasury Advantage Fund 346.03 100.30
Ashok Leyland Limited Axis Overnight Fund Axis Arbitrage Fund 64.20 4.60
Axis Bluechip Fund 8.77 -
Axis Capital Builder Fund - Series 1 (1540 days) 7.75 -
Axis Children's Gift Fund 0.69 -
Axis Emerging Opportunities Fund - Series 1 (1400 Days) 14.03 -
Axis Equity Saver Fund 0.44 -
Axis Flexi Cap Fund 5.41 -
Axis Nifty 100 Index Fund 0.93 -
Axis Triple Advantage Fund 4.74 -
Axis Bank Limited Axis Overnight Fund Axis Arbitrage Fund 543.48 493.60
Axis Bluechip Fund 384.98 212.73
Axis Capital Builder Fund - Series 4 (1582 days) 29.46 9.82
Axis Children's Gift Fund 11.05 2.46
Axis Equity Advantage Fund - Series 2 0.30 -
Axis Equity Hybrid Fund 33.14 8.59
Axis Flexi Cap Fund 192.49 74.25
Axis Focused 25 Fund 355.72 301.51
Axis Midcap Fund 142.79 -
Axis Retirement Savings Fund - Dynamic Plan 14.73 -
Axis Small Cap Fund 19.64 9.82
Axis Banking ETF - 5.79
Axis Triple Advantage Fund 11.05 6.14
Bajaj Auto Limited Axis Fixed Term Plan - Series 95 (1185 Days) Axis Arbitrage Fund 64.17 21.47
Axis Overnight Fund Axis Bluechip Fund 21.25 -
Axis Dynamic Equity Fund 17.11 -
Axis Retirement Savings Fund - Conservative Plan 1.92 2.25
Bajaj Finance Limited Axis Overnight Fund Axis Arbitrage Fund 915.74 5.41
Axis Liquid Fund Axis Banking & PSU Debt Fund 157.65 6.19
Axis Equity Advantage Fund - Series 1 54.36 46.35
Axis ESG Equity Fund 188.01 139.90
Axis Fixed Term Plan - Series 101 (1154 days) 2.57 3.20
Axis Fixed Term Plan - Series 102 (1133 Days) 2.60 3.20
Axis Growth Opportunities Fund 157.37 198.56
Axis Long Term Equity Fund 3720.28 2468.23
Axis Midcap Fund 237.94 329.59
545

(B)
Axis Regular Saver Fund 3.04 3.42
Axis Retirement Savings Fund - Aggressive Plan 25.15 30.79
Axis Retirement Savings Fund - Dynamic Plan 20.60 24.82
Axis Special Situations Fund 107.42 107.53
Bank of Baroda Axis Ultra Short Term Fund Axis Arbitrage Fund 5.62 1.99
Axis Banking ETF 0.54 -
Axis Dynamic Bond Fund 22.78 -
Axis Hybrid Fund Series-33 (1358 Days) 34.48 -
Axis Money Market Fund 156.27 51.63
Axis Strategic Bond Fund 21.33 23.15
Axis Children's Gift Fund - 10.06
Axis Equity Saver Fund - 12.08
Axis Ultra Short Term Fund 257.77 100.45
Bharti Telecom Limited Axis Overnight Fund Axis Corporate Debt Fund 10.01 -
Birla Corporation Limited Axis Money Market Fund Axis Fixed Term Plan - Series 96 (1124 Days) 4.56 4.64
Axis Credit Risk Fund - 12.10
Cholamandalam Investment and Axis Overnight Fund Axis Bluechip Fund 97.60 137.91
Finance Company Limited Axis Capital Builder Fund - Series 4 (1582 days) 11.28 44.87
Axis Small Cap Fund 17.50 27.50
Axis Retirement Savings Fund - Aggressive Plan - 5.59
Cipla Limited Axis Overnight Fund Axis Arbitrage Fund 65.77 20.24
Dr. Lal Path Labs Limited Axis Money Market Fund Axis Arbitrage Fund 0.06 -
ECL Finance Limited Axis Overnight Fund Axis Liquid Fund 49.90 -
HCL Technologies Limited Axis Overnight Fund Axis Arbitrage Fund 69.36 -
Axis Technology ETF 4.47 4.50
546

(B)
HDB Financial Services Limited Axis Overnight Fund Axis Arbitrage Fund 5.31 -
Axis Regular Saver Fund 21.26 -
Axis Fixed Term Plan - Series 100 (1172 days) - 2.69
Axis Fixed Term Plan - Series 95 (1185 Days) - 10.63
Hero Fincorp Limited Axis Overnight Fund Axis Arbitrage Fund 16.00 -
Axis Money Market Fund Axis Corporate Debt Fund 9.00 -
Axis Arbitrage Fund Axis Equity Hybrid Fund 10.22 -
Hero MotoCorp Limited Axis Arbitrage Fund Axis Arbitrage Fund 51.41 -
Axis Equity Hybrid Fund 20.91 -
Axis Long Term Equity Fund 0.04 -
Axis Retirement Savings Fund - Conservative Plan - 1.83
ICICI Securities Limited Axis Overnight Fund Axis Growth Opportunities Fund 11.01 -
Axis Short Term Fund 1.00 -
IIFL Facilities Services Limited Axis Overnight Fund Axis Liquid Fund 2945.64 -
IIFL Wealth Prime Limited Axis Overnight Fund Axis Liquid Fund 1847.48 -
India Infoline Finance Limited Axis Overnight Fund Axis Arbitrage Fund 35.38 -
Indiabulls Housing Finance Limited Axis Short Term Fund Axis Arbitrage Fund 333.91 0.37
Axis Treasury Advantage Fund Axis Capital Builder Fund - Series 1 (1540 days) 17.37 -
Axis Money Market Fund Axis Capital Builder Fund - Series 4 (1582 days) 28.95 -
Axis Overnight Fund Axis Children's Gift Fund 24.50 -
Axis Fixed Term Plan - Series 96 (1124 Days) 1.92 -
Axis Focused 25 Fund 99.98 -
Axis Nifty ETF 0.01 -
Axis Strategic Bond Fund 31.52 -
IndoStar Capital Finance Limited Axis Overnight Fund Axis Credit Risk Fund 36.81 13.04
Infina Finance Private Limited Axis Overnight Fund Axis Arbitrage Fund 49.94 -
547

(B)
Infosys Limited Axis Overnight Fund Axis Arbitrage Fund 536.52 35.87
Axis Capital Builder Fund - Series 1 (1540 days) - 24.43
Axis Equity Advantage Fund - Series 1 - 65.67
InterGlobe Aviation Limited Axis Treasury Advantage Fund Axis Children's Gift Fund 6.95 -
Axis Overnight Fund Axis Dynamic Equity Fund 0.06 -
ITC Limited Axis Treasury Advantage Fund Axis Arbitrage Fund 505.59 48.87
Axis Short Term Fund Axis Bluechip Fund 28.31 -
Axis Overnight Fund Axis Capital Builder Fund - Series 1 (1540 days) 14.26 -
Axis Banking & PSU Debt Fund Axis Children's Gift Fund 9.79 -
Jamnagar Utilities & Power Private Limited Axis Corporate Debt Fund Axis Liquid Fund 495.60 498.01
Axis Overnight Fund Axis Money Market Fund 99.10 99.76
Axis Money Market Fund Axis Treasury Advantage Fund 99.10 99.76
Axis Banking & PSU Debt Fund - 20.64
Axis Hybrid Fund - Series 22 (1278 Days) 4.26 -
JM Financial Products Limited Axis Overnight Fund Axis Credit Risk Fund 8.79 9.66
JM Financial Properties and Holdings Limited Axis Overnight Fund Axis Liquid Fund 3105.92 -
Larsen & Toubro Limited Axis Overnight Fund Axis Arbitrage Fund 613.18 31.00
Axis Treasury Advantage Fund Axis Banking & PSU Debt Fund 264.82 78.12
Axis Banking & PSU Debt Fund Axis Bluechip Fund 572.15 63.85
Axis Money Market Fund Axis Capital Builder Fund - Series 4 (1582 days) 48.91 26.67
Axis Corporate Debt Fund Axis Children's Gift Fund 8.05 7.23
Axis Short Term Fund Axis Corporate Debt Fund 74.19 49.45
Axis Arbitrage Fund Axis Dynamic Equity Fund 104.80 40.03
Lupin Limited Axis Treasury Advantage Fund Axis Arbitrage Fund 86.36 33.83
Axis Overnight Fund Axis Dynamic Equity Fund 10.23 -
Axis Money Market Fund Axis Equity Saver Fund 11.45 1.99
548

(B)
Mahindra & Mahindra Limited Axis Overnight Fund Axis Arbitrage Fund 79.19 3.23
Maruti Suzuki India Limited Axis Short Term Fund Axis Arbitrage Fund 803.96 1.92
Axis Banking & PSU Debt Fund Axis Bluechip Fund 1117.96 535.02
Axis Overnight Fund Axis Capital Builder Fund - Series 1 (1540 days) 21.23 11.66
Mindspace Business Parks Axis Overnight Fund Axis Dynamic Equity Fund 15.00 -
Axis Small Cap Fund 45.52 -
National Bank For Agriculture Axis Liquid Fund Axis Arbitrage Fund 434.78 24.15
and Rural Development Axis Treasury Advantage Fund Axis Banking & PSU Debt Fund 2527.60 1829.85
Axis Credit Risk Fund 112.06 10.04
Axis Dynamic Bond Fund 172.83 106.41
Axis Retirement Savings Fund - Aggressive Plan 10.08 -
Axis Retirement Savings Fund - Dynamic Plan 15.04 -
Oriental Nagpur Betul Highway Limited Axis Ultra Short Term Fund Axis Children's Gift Fund 5.01 -
Axis Treasury Advantage Fund Axis Corporate Debt Fund 5.09 5.11
Axis Money Market Fund Axis Credit Risk Fund 21.42 16.36
549

(B)
Punjab National Bank Axis Money Market Fund Axis Arbitrage Fund 4.12 -
Axis Banking & PSU Debt Fund 74.99 -
Axis Banking ETF 0.61 0.33
Axis Credit Risk Fund 17.13 -
Axis Children's Gift Fund - 1.01
Axis Triple Advantage Fund - 5.02
Reliance Industries Limited Axis Fixed Term Plan - Series 95 (1185 Days) Axis Arbitrage Fund 1214.89 29.10
Axis Banking & PSU Debt Fund Axis Banking & PSU Debt Fund 813.91 57.08
Axis Liquid Fund Axis Bluechip Fund 2165.52 1063.74
Axis Money Market Fund Axis Capital Builder Fund - Series 1 (1540 days) 33.25 26.99
Axis Treasury Advantage Fund Axis Capital Builder Fund - Series 4 (1582 days) 82.35 63.42
Axis Short Term Fund Axis Children's Gift Fund 57.12 34.48
Axis Corporate Debt Fund Axis Corporate Debt Fund 352.68 174.82
Axis Dynamic Bond Fund Axis Credit Risk Fund 44.49 -
Axis Dynamic Bond Fund 20.07 -
Shree Cement Limited Axis Overnight Fund Axis Arbitrage Fund 66.00 -
Axis Arbitrage Fund Axis Bluechip Fund 349.18 390.05
Shriram Transport Finance Company Limited Axis Overnight Fund Axis Arbitrage Fund 17.66 17.07
Axis Dynamic Equity Fund - 0.50
Sikka Ports and Terminals Limited Axis Fixed Term Plan - Series 95 (1185 Days) Axis Corporate Debt Fund 91.42 89.14
Axis Overnight Fund Axis Equity Advantage Fund - Series 1 5.41 5.12
Axis Treasury Advantage Fund Axis Liquid Fund 473.81 -
State Bank of India Axis Liquid Fund Axis Arbitrage Fund 387.07 99.34
Axis Treasury Advantage Fund Axis Banking & PSU Debt Fund 1189.01 432.70
Axis Ultra Short Term Fund Axis Banking ETF 7.80 5.25
Axis Dynamic Bond Fund 100.85 84.75
550

(B)
Sun TV Network Limited Axis Fixed Term Plan - Series 104 (1112 Days) Axis Arbitrage Fund 21.37 2.82
Axis Fixed Term Plan - Series 95 (1185 Days) Axis Retirement Savings Fund - Conservative Plan 0.74 0.82
Axis Fixed Term Plan - Series 100 (1172 Days)
Axis Arbitrage Fund
Tata Consultancy Services Limited Axis Overnight Fund Axis Arbitrage Fund 483.60 13.54
Axis Liquid Fund Axis Bluechip Fund 1566.85 1820.91
Tata Motors Limited Axis Overnight Fund Axis Arbitrage Fund 112.74 1.55
Tata Power Company Limited Axis Overnight Fund Axis Arbitrage Fund 37.80 10.45
Tata Steel Limited Axis Overnight Fund Axis Arbitrage Fund 198.35 98.96
Axis Liquid Fund Axis Bluechip Fund 175.29 -
Tech Mahindra Limited Axis Overnight Fund Axis Arbitrage Fund 131.63 60.08
Axis Capital Builder Fund - Series 1 (1540 days) - 9.91
551

(B)
Torrent Pharmaceuticals Limited Axis Overnight Fund Axis Arbitrage Fund 4.92 2.16
Axis ESG Equity Fund 16.82 -
Tube Investments of India Limited Axis Overnight Fund Axis Liquid Fund 199.03 -
UltraTech Cement Limited Axis Arbitrage Fund Axis Arbitrage Fund 23.71 2.02
Axis Treasury Advantage Fund - 25.46
Voltas Limited Axis Short Term Fund Axis Arbitrage Fund 8.15 4.41
Wipro Limited Axis Overnight Fund Axis Arbitrage Fund 196.28 7.42
Axis Growth Opportunities Fund 19.98 -
Bajaj Housing Finance Limited Axis Overnight Fund Axis Capital Builder Fund - Series 4 (1582 days) 5.25 -
(Subsidiary of Bajaj Finance Limited) Axis Corporate Debt Fund 6.00 -
Bharti Airtel Limited Axis Liquid Fund Axis Arbitrage Fund 679.07 111.84
(Subsidiary of Bharti Telecom Limited) Axis Overnight Fund Axis Bluechip Fund 1112.49 408.67
Axis ESG Equity Fund 20.04 -
552

(B)
Edelweiss Rural & Corporate Services Limited Axis Overnight Fund Axis Liquid Fund 549.06 -
(Subsidiary of ECL Finance Limited) Axis Money Market Fund 24.92 -
Hinduja Leyland Finance Limited Axis Arbitrage Fund 21.50 -

(Subsidiary of Ashok Leyland Limited) Axis Credit Risk Fund 5.12 -
IIFL Home Finance Limited Axis Overnight Fund Axis Credit Risk Fund 11.02 9.41
(Subsidiary of India Infoline Finance Limited) Axis Equity Advantage Fund - Series 1 40.05 -
IIFL Finance Limited Axis Overnight Fund Axis Liquid Fund 1598.60 -
(Subsidiary of India Infoline Finance Limited)
L & T Housing Finance Axis Overnight Fund Axis Arbitrage Fund 4.98 -
(Subsidiary of Larsen & Toubro Limited) Axis Capital Builder Fund - Series 4 (1582 days) 48.82 -
L&T Finance Holdings Limited Axis Arbitrage Fund 26.11 -

(Subsidiary of Larsen & Toubro Limited) Axis Corporate Debt Fund 49.50 -
L & T Infrastructure Finance Company Limited Axis Overnight Fund Axis Banking & PSU Debt Fund 50.00 -
(Subsidiary of Larsen & Toubro Limited) Axis Bluechip Fund 149.86 -
Axis Hybrid Fund Series 18 (42 Months) 10.64 -
L&T Technology Services Limited Axis Arbitrage Fund 5.19 4.78

(Subsidiary of Larsen & Toubro Limited) Axis Children's Gift Fund 4.22 4.39
L&T Finance Limited Axis Overnight Fund Axis Arbitrage Fund 29.98 -
(Subsidiary of Larsen & Toubro Limited) Axis Bluechip Fund 4.97 -
Larsen & Toubro Infotech Limited Axis Arbitrage Fund 2.84 2.80
(Subsidiary of Larsen & Toubro Limited) Axis Emerging Opportunities Fund - Series 1 (1400 Days) 13.08 -
MindTree Limited Axis Arbitrage Fund 2.13 -

(Subsidiary of Larsen & Toubro Limited) Axis Capital Builder Fund - Series 4 (1582 days) 0.31 -
553

(B)
Nabha Power Limited Axis Arbitrage Fund 16.15 -

(Subsidiary of Larsen & Toubro Limited) Axis Liquid Fund 2303.23 -
Mahindra & Mahindra Financial Services Limited Axis Overnight Fund Axis Arbitrage Fund 63.72 25.43
(Subsidiary of Mahindra & Mahindra Limited) Axis Banking & PSU Debt Fund 25.13 -
Mahindra Rural Housing Finance Limited Axis Liquid Fund 394.31 -

(Subsidiary of Mahindra & Mahindra Limited) Axis Regular Saver Fund 5.00 5.07
Reliance Jio Infocomm Limited Axis Overnight Fund Axis Arbitrage Fund 177.44 -
(Subsidiary of Reliance Industries Limited) Axis Treasury Advantage Fund Axis Capital Builder Fund - Series 1 (1540 days) 33.21 -
Axis Short Term Fund Axis Corporate Debt Fund 44.74 -
Axis Ultra Short Term Fund Axis Dynamic Equity Fund 14.23 -
Axis Fixed Term Plan - Series 64 1.02 -
Axis Hybrid Fund Series 19 (42 Months) 4.25 -
Reliance Retail Ventures Limited Axis Banking & PSU Debt Fund Axis Liquid Fund 1910.17 747.58
(Subsidiary of Reliance Industries Limited) Axis Short Term Fund Axis Money Market Fund 98.82 -
SBI Cards and Payment Services Limited Axis Bluechip Fund 25.90 -
(Subsidiary of State Bank of India) Axis Capital Builder Fund - Series 1 (1540 days) 1.39 -
Axis Special Situations Fund 25.00 -
SBI Life Insurance Company Limited Axis Arbitrage Fund 26.83 1.39
(Subsidiary of State Bank of India) Axis Nifty 100 Index Fund 3.34 1.86
Tata Motors Finance Limited Axis Overnight Fund Axis Arbitrage Fund 6.00 -
(Subsidiary of Tata Motors Limited) Axis Equity Hybrid Fund 25.60 -
554

(B)
TMF Holdings Limited Axis Capital Builder Fund - Series 1 (1540 days) 29.93 -
(Subsidiary of Tata Motors Limited) Axis Corporate Debt Fund 10.37 -
Walwhan Renewable Energy Limited Axis Liquid Fund 294.81 -

(Subsidiary of Tata Power Company Limited)
Tata Power Renewable Energy Limited Axis Liquid Fund 394.70 -
(Subsidiary of Tata Power Company Limited) Axis Overnight Fund 28.00 -
Tata Power Solar Systems Limited Axis Liquid Fund 108.08 -

(Subsidiary of Tata Power Company Limited)
Tata Steel BSL Limited (Subsidiary of Tata Steel Limited) Axis Liquid Fund 892.68 -
Bharti Hexacom Limited Axis Credit Risk Fund 14.76 14.72

(Subsidiary of Bharti Airtel Limited) Axis Liquid Fund 296.39 -
Coastal Gujarat Power Limited Axis Arbitrage Fund 20.30 -

(Subsidiary of Tata Power Company Limited) Axis Capital Builder Fund - Series 1 (1540 days) 10.09 10.08
Reliance Jio Infratel Private Limited Axis Liquid Fund 98.92 -

(Subsidiary of Reliance Industries Limited)
Bamnipal Steel Limited Axis Liquid Fund 492.40 -
(Subsidiary of Tata Steel Limited)
Reliance Retail Limited Axis Overnight Fund Axis Arbitrage Fund 139.94 -
(Subsidiary of Reliance Industries Limited) Axis Ultra Short Term Fund Axis Corporate Debt Fund 24.65 -
These investments comprise of Equity and Equity related instruments, Debentures/Bonds, Commercial Paper and Certificate of Deposit. The investment decisions are taken based on fundamental analysis of the stock/bond or for opportunities available in Cash/Futures arbitrage.
Moreover, fund management has undertaken a detailed research in these companies and investments in all these companies are independent investment decisions and do not relate, in any manner, to their investment in any of the schemes of Axis Mutual Fund.
The investments under ETF/ Index Fund (“the Schemes”) were made pursuant to the Schemes' investment objective.
The audited yearly financials together with the notes thereto were approved by Board of Directors of Axis Asset Management Company Limited on May 24, 2021 and by Board of Directors of Axis Mutual Fund Trustee Limited on May 25, 2021.
555
Attachment 2 - Interscheme transactions covered by Accounting Standard-18

Purchase and Sale of Investments between schemes
Rupees in '000
Name of Related Party Nature of transactions
March 31, 2021 March 31, 2020
Axis Banking & PSU Debt Fund
Axis Arbitrage Fund Sale of investments 375,062
Purchase of investments 713,432 577,802
Sale of investments 461,767 119,962
Axis Credit Risk Fund Purchase of investments 253,099 311,205
Axis Dynamic Bond Fund Purchase of investments 101,253
Axis Equity Saver Fund Purchase of investments 200,992
Axis Fixed Term Plan - Series 104 (1112 Days) Sale of investments 261,948
Axis Liquid Fund Purchase of investments 2,248,315 2,745,950
Purchase of investments 10,702,905 15,321,993
Sale of investments 4,197,753 5,111,574
Axis Strategic Bond Fund Purchase of investments 871,312 563,219
Axis Ultra Short Term Fund Purchase of investments 520,639
Axis Children's Gift Fund Purchase of investments 50,883
Axis Credit Risk Fund Purchase of investments 152,953
Purchase of investments 105,466
Sale of investments 207,580
Axis Dynamic Equity Fund Sale of investments 51,509 51,675
Axis Equity Saver Fund Sale of investments 104,335
Purchase of investments 1,844,250 286,745
Axis Triple Advantage Fund Sale of investments 107,211
Axis Ultra Short Term Fund Sale of investments 331,440 181,629
Axis Banking & PSU Debt Fund Sale of investments 253,099 311,205
Axis Children's Gift Fund Sale of investments 75,075 209,427
Axis Corporate Debt Fund Sale of investments 152,953
Axis Equity Advantage Fund - Series 1 Sale of investments 74,533 807,967
Axis Regular Saver Fund Sale of investments 103,895
Axis Strategic Bond Fund Sale of investments 154,960 153,569
Axis Triple Advantage Fund Sale of investments 50,061
556

Rupees in '000
March 31, 2021 March 31, 2020
Sale of investments 360,569 1,411,816
Axis FlexiCap Fund Purchase of investments 87,861
Axis Banking & PSU Debt Fund Sale of investments 101,253
Axis Dynamic Equity Fund Purchase of investments 113650
Axis Gilt Fund Purchase of investments 68,548
Axis Retirement Savings Fund - Aggressive Plan Sale of investments 154,647
Axis Retirement Savings Fund - Conservative Plan Purchase of investments 38332 31762
Axis Retirement Savings Fund - Dynamic Plan Sale of investments 107,654
Axis Gilt Fund
Axis Dynamic Bond Fund Sale of investments 68,548
Axis Equity Hybrid Fund Sale of investments 49,643
Axis Retirement Savings Fund - Conservative Plan Sale of investments 9,993
Axis Short Term Fund Sale of investments 2,010
Axis Treasury Advantage Fund Sale of investments 49,986
Axis Liquid Fund
Axis Banking & PSU Debt Fund Sale of investments 2,248,315 2,745,950
Axis Dynamic Equity Fund Sale of investments 1,997,522
Axis Focused 25 Fund Sale of investments 3,791,791
Axis Hybrid Fund Series-27 (1351 Days) Sale of investments 193,860
Axis Long Term Equity Fund Sale of investments 2743406
Purchase of investments 247434
Axis Overnight Fund Sale of investments 15,048,596 17,707,470
Axis Ultra Short Term Fund Sale of investments 6,190,959 992,657
Axis FlexiCap Fund Sale of investments 4,393,026
AXIS HYBRID FUND - SERIES 33 (1358 DAYS) Sale of investments 2,245,543
Axis Liquid Fund
Purchase of investments 1,700,597
Sale of investments 1,088,506
557

Rupees in '000
March 31, 2021 March 31, 2020
Axis Overnight Fund
Axis Liquid Fund Purchase of investments 15,048,600 17,707,470
Axis Short Term Fund Purchase of investments 100,206
Axis Strategic Bond Fund Purchase of investments 31,443
Axis Arbitrage Fund
Axis Capital Builder Fund - Series 1 (1540 days) Sale of investments 270,598 80,165
Axis Capital Builder Fund - Series 4 (1582 days) Sale of investments 338,248
Axis Children's Gift Fund Sale of investments 107,179
Sale of investments 1,844,249 286,745
Axis Liquid Fund
Sale of investments 1,700,595
Axis Retirement Savings Fund - Conservative Plan Purchase of investments 51450
Axis FlexiCap Fund Sale of investments 572,771
Axis Arbitrage Fund Purchase of investments 154,253
Axis Banking & PSU Debt Fund Sale of investments 871,312 563,219
Axis Children's Gift Fund
558

Rupees in '000
March 31, 2021 March 31, 2020
Axis Dynamic Equity Fund Sale of investments 589,873 51,854
Axis Equity Advantage Fund - Series 1 Sale of investments 511,977
Sale of investments 558809
Axis Equity Saver Fund Sale of investments 73,367 101,802
Axis Retirement Savings Fund - Aggressive Plan Sale of investments 109,522
Axis Ultra Short Term Fund Sale of investments 416,476 1,425,515
Axis Capital Builder Fund - Series 1 (1540 days) Purchase of investments 102,922
Axis Liquid Fund
Purchase of investments 1,088,506
Sale of investments 1,319,250 387,039
Axis Corporate Debt Fund Purchase of investments 331,440 181,629
Purchase of investments 360,570 1,411,816
Axis Dynamic Equity Fund Purchase of investments 157080
Axis Equity Saver Fund Purchase of investments 102,190 211,468
Axis Liquid Fund
Purchase of investments 3923467 1444196
Axis Strategic Bond Fund Purchase of investments 416476 1425515
559

Rupees in '000
March 31, 2021 March 31, 2020
Axis Arbitrage Fund
Axis Banking & PSU Debt Fund Purchase of investments 375,062
Axis Bluechip Fund Sale of investments 259,975
Axis Corporate Debt Fund Purchase of investments 108,905
Axis Dynamic Equity Fund Sale of investments 142,335
Axis Focused 25 Fund Sale of investments 263,997
Axis Liquid Fund Purchase of investments 649,303
Axis Long Term Equity Fund Sale of investments 264,493
Axis Strategic Bond Fund Sale of investments 154,253
Axis Treasury Advantage Fund Purchase of investments 234,422
Axis Ultra Short Term Fund Sale of investments 550,380
Axis Bluechip Fund
Axis Children's Gift Fund
Axis Strategic Bond Fund Purchase of investments 52405 50901
Axis Strategic Bond Fund Sale of investments 51454
Axis Credit Risk Fund Sale of investments 253,585
Axis Dynamic Bond Fund Sale of investments 113650
Axis Liquid Fund Purchase of investments 1,997,522
Axis Short Term Fund Purchase of investments 211,324 1,216,406
Axis Triple Advantage Fund Purchase of investments 52,118
Axis Ultra Short Term Fund Sale of investments 157,080
Axis Dynamic Bond Fund Purchase of investments 11,124 118,093
Axis Equity Saver Fund Purchase of investments 164,002
Axis Fixed Term Plan - Series 104 (1112 Days) Purchase of investments 82,585
Axis Short Term Fund Purchase of investments 105662 2296846
Axis Short Term Fund Sale of investments 204692
Axis Strategic Bond Fund Sale of investments 124,445
560

Rupees in '000
March 31, 2021 March 31, 2020
Axis Retirement Savings Fund - Aggressive Plan
Axis Retirement Savings Fund - Conservative Plan Purchase of investments 25,280 34,740
Axis Retirement Savings Fund - Conservative Plan
Axis Dynamic Bond Fund Sale of investments 38,332 31,762
Axis Retirement Savings Fund - Aggressive Plan Sale of investments 25,280 34,740
Axis Retirement Savings Fund - Dynamic Plan Sale of investments 19,932
Axis Triple Advantage Fund
Axis Dynamic Equity Fund Sale of investments 52,118
Axis Retirement Savings Fund - Dynamic Plan
Axis Retirement Savings Fund - Conservative Plan Purchase of investments 19,932
Axis FlexiCap Fund
561

Rupees in '000
March 31, 2021 March 31, 2020
Axis Capital Builder Fund - Series 1 (1540 days)
Axis Short Term Fund Purchase of investments 270,599 80,165
Axis Capital Builder Fund - Series 4 (1582 days)
Axis Credit Risk Fund Purchase of investments 74533 807967
562

Rupees in '000
Period ended Year ended
March 31, 2021 March 31, 2020
AXIS Hybrid Fund - Series 33 (1358 Days)
563
Attachment 3 - Derivative disclosure (F.Y. 2020-21)
A. Hedging Positions through Futures as on March 31, 2021

Margin maintained in Rs.
Underlying Long / Short Futures Price when purchased Current price of the contract
Lakhs
NIL
Total %age of existing assets hedged through futures : NIL
For the year ended March 31, 2021 following details specified for hedging transactions through futures which have been squared off/expired:
Total Number of contracts where futures were bought : NIL

Total Number of contracts where futures were sold : NIL
Gross Notional Value of contracts where futures were bought : Rs. NIL
Gross Notional Value of contracts where futures were sold : Rs. NIL
Net Profit/(Loss) value on all contracts combined : Rs. NIL
B. Other than Hedging Positions through Futures as on March 31, 2021

Margin maintained in Rs.
Underlying Long / Short Futures Price when purchased Current price of the contract
Lakhs
NIL
Total exposure due to futures (non hedging positions) as a %age of net assets : NIL
For the year ended March 31, 2021 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on March 31, 2021

Underlying Number of Contracts Option Price when purchased Current Option Price
NIL
Total % age of existing assets hedged through put options - NIL
For the year ended March 31, 2021 following details specified for hedging transactions through options which have already been exercised/expired :
Total Number of contracts entered into : NIL

Gross Notional value of contracts : Rs. NIL
Net Profit/(Loss) on all contracts (premium paid treated as (Loss)) : Rs. NIL
D. Other than Hedging Positions through Options as on March 31, 2021

Underlying Call / put Number of contracts Option Price when purchased Current Price
Nifty 50 Index 10500 Put December 2021 Option PUT 950 663.6316 60.90
Total Exposure through options as a %age of net assets : 0.07%
For the year ended March 31, 2021 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on March 31, 2021 - NIL
564

Current price of the Margin maintained in Rs.
Underlying Long / Short Futures Price when purchased
contract Lakhs
NIL

Gross Notional Value of contracts where futures were bought : NIL
Gross Notional Value of contracts where futures were sold : NIL
Net Profit/(Loss) value on all contracts combined : NIL

contract Lakhs
NIFYOCT20 NIL
Total Number of contracts where futures were bought : 1263

Total Number of contracts where futures were sold : 1263
Gross Notional Value of contracts where futures were bought : Rs. 11,025.28 Lakhs
Gross Notional Value of contracts where futures were sold : Rs. 10,740.52 Lakhs
Net Profit/(Loss) value on all contracts combined : Rs. (289.78) Lakhs
NIL


Option Price when
Underlying Call / put Number of contracts Current Price
purchased
NIL
Total Exposure through options as a %age of net assets : NIL

Gross Notional Value of contracts : Rs. NIL
Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. NIL
565

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

566

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL
Total Exposure through options as a %age of net assets - NIL
Total Number of contracts entered into : 6250

Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. (2,122.91) Lakhs
567
AXIS DYNAMIC EQUITY FUND

contract Lakhs
ASPAOCT20
Bank of Baroda April 2021 Future Long 74.12 74.55 557.20
Canara Bank April 2021 Future Short 144.82 153.10 8.26
Tata Motors Limited April 2021 Future Short 291.88 303.95 23.49
Maruti Suzuki India Limited April 2021 Future Short 7,192.33 6,905.70 23.58
Cipla Limited April 2021 Future Short 784.08 819.70 30.96
Tata Consumer Products Limited April 2021 Future Short 635.83 641.45 42.09
Jindal Steel & Power Limited April 2021 Future Short 317.68 346.05 73.35
Motherson Sumi Systems Limited April 2021 Future Short 210.29 202.80 73.37
Indraprastha Gas Limited April 2021 Future Short 514.48 515.50 54.87
Cholamandalam Investment and Finance Company Limited April 2021 Future Short 544.38 560.60 103.64
Dabur India Limited April 2021 Future Short 535.31 544.30 52.75
Dr. Reddy's Laboratories Limited April 2021 Future Short 4,382.02 4,547.90 64.03
Titan Company Limited April 2021 Future Short 1,488.58 1,564.75 78.07
Bharti Airtel Limited April 2021 Future Short 531.62 520.70 107.34
Adani Ports and Special Economic Zone Limited April 2021 Future Short 700.74 707.40 160.21
Nestle India Limited April 2021 Future Short 16,679.80 17,175.40 88.78
Tech Mahindra Limited April 2021 Future Short 1,013.35 998.65 107.46
Divi's Laboratories Limited April 2021 Future Short 3,475.38 3,637.00 139.43
Mahindra & Mahindra Limited April 2021 Future Short 846.39 800.95 205.57
Havells India Limited April 2021 Future Short 1,041.23 1,057.80 170.75
Hindustan Unilever Limited April 2021 Future Short 2,359.24 2,439.35 135.31
Larsen & Toubro Limited April 2021 Future Short 1,403.17 1,426.45 193.51
BTVLOCT20
Bajaj Finance Limited April 2021 Future Short 5,199.82 5,186.80 280.58
HDFCOCT20
Bharat Petroleum Corporation Limited April 2021 Future Short 437.53 430.95 424.99
IBCLOCT20
Asian Paints Limited April 2021 Future Short 2,442.91 2,554.75 199.48
JSPLOCT20
Sun Pharmaceutical Industries Limited April 2021 Future Short 593.45 601.95 239.43
LARSOCT20
ICICI Bank Limited April 2021 Future Short 580.13 584.85 284.93
MAUDOCT20
Infosys Limited April 2021 Future Short 1,361.33 1,377.05 264.19
NESTOCT20
Tata Consultancy Services Limited April 2021 Future Short 3,119.75 3,193.35 264.58
RINDOCT20
Kotak Mahindra Bank Limited April 2021 Future Short 1,759.87 1,765.30 363.49
SPILOCT20
Housing Development Finance Corporation Limited April 2021 Future Short 2,522.48 2,515.60 404.29
TEMAOCT20
Reliance Industries Limited April 2021 Future Short 2,064.04 2,016.90 443.32
ULCCOCT20
HDFC Bank Limited April 2021 Future Short 1,476.69 1,497.00 508.18
Total %age of existing assets hedged through futures : 15.93%


Net Profit/(Loss) value on all contracts combined : Rs. (13,295.27 Lakhs)

contract Lakhs
N20L8000P NIL

Net Profit/(Loss) value on all contracts combined : Rs.(1,544.33) Lakhs
568
AXIS DYNAMIC EQUITY FUND (CONTD.)
NIL


Option Price when
purchased
N20L8000P NIL

Gross Notional value of contracts : Rs.2,470.58 Lakhs
Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. 1,445.41 Lakhs
569
AXIS ARBITRAGE FUND

contract Lakhs
ASPAOCT20
Granules India Limited April 2021 Future Short 308.40 305.80 1.42
BTVLOCT20
Escorts Limited April 2021 Future Short 1,369.40 1,293.65 1.94
HDFCOCT20
PI Industries Limited April 2021 Future Short 2,326.55 2,272.80 2.56
IBCLOCT20
Bharat Electronics Limited April 2021 Future Short 127.57 126.05 5.21
LARSOCT20
Coforge Limited April 2021 Future Short 2,899.63 2,941.60 10.32
MAUDOCT20
Balkrishna Industries Limited April 2021 Future Short 1,670.62 1,701.05 8.57
NESTOCT20
Indiabulls Housing Finance Limited April 2021 Future Short 204.76 197.95 16.59
RINDOCT20
Bandhan Bank Limited April 2021 Future Short 364.96 341.40 16.51
SPILOCT20
Trent Limited April 2021 Future Short 767.36 756.55 10.65
TEMAOCT20
Colgate Palmolive (India) Limited April 2021 Future Short 1,564.10 1,571.00 8.04
ULCCOCT20
Marico Limited April 2021 Future Short 401.32 414.10 16.05
ACCLOCT20
Glenmark Pharmaceuticals Limited April 2021 Future Short 468.57 468.10 36.43
ASHLOCT20
Apollo Hospitals Enterprise Limited April 2021 Future Short 2,929.33 2,922.70 30.40
AUPHOCT20
ICICI Lombard General Insurance Company Limited April 2021 Future Short 1,451.96 1,441.60 29.08
BALNOCT20
SBI Life Insurance Company Limited April 2021 Future Short 876.36 884.10 30.89
BATAOCT20
Tata Motors Limited April 2021 Future Short 306.13 303.95 52.85
BFSLOCT20
RBL Bank Limited April 2021 Future Short 209.83 209.00 56.98
BHAHOCT20
Jindal Steel & Power Limited April 2021 Future Short 347.92 346.05 61.12
BHFOOCT20
The Federal Bank Limited April 2021 Future Short 76.20 76.35 54.51
BPCLOCT20
BRITOCT20
Bank of Baroda April 2021 Future Short 73.31 74.55 85.36
CHELOCT20
UltraTech Cement Limited April 2021 Future Short 6,863.63 6,787.85 58.41
CHLOOCT20
Oil & Natural Gas Corporation Limited April 2021 Future Short 107.80 102.95 104.49
CIPLOCT20
Torrent Pharmaceuticals Limited April 2021 Future Short 2,443.66 2,555.45 46.89
COALOCT20
Kotak Mahindra Bank Limited April 2021 Future Short 1,778.25 1,765.30 61.91
COLGOCT20
Godrej Consumer Products Limited April 2021 Future Short 706.18 734.25 56.00
DABUOCT20
Apollo Tyres Limited April 2021 Future Short 224.46 224.75 74.03
DIVIOCT20
Larsen & Toubro Infotech Limited April 2021 Future Short 3,985.10 4,083.85 72.26
DRRLOCT20
Sun TV Network Limited April 2021 Future Short 479.94 473.60 114.42
EIMLOCT20
Tata Chemicals Limited April 2021 Future Short 763.17 756.95 70.10
GAILOCT20
GCPLOCT20
Bata India Limited April 2021 Future Short 1,473.02 1,416.05 69.64
GLPHOCT20
Dabur India Limited April 2021 Future Short 544.69 544.30 61.14
GRASOCT20
Info Edge (India) Limited April 2021 Future Short 4,212.16 4,297.80 112.84
GUAMOCT20
Manappuram Finance Limited April 2021 Future Short 157.14 150.15 127.99
HCLTOCT20
JSW Steel Limited April 2021 Future Short 446.13 470.90 113.26
HDLIOCT20
Voltas Limited April 2021 Future Short 1,006.06 1,008.85 97.56
HEROOCT20
Ashok Leyland Limited April 2021 Future Short 114.96 114.30 150.14
HINIOCT20
MRF Limited April 2021 Future Short 85,549.81 82,864.25 97.98
HPECOCT20
L&T Technology Services Limited April 2021 Future Short 2,585.59 2,670.25 128.26
IGASOCT20
Canara Bank April 2021 Future Short 152.31 153.10 176.18
IIBLOCT20
Bajaj Finance Limited April 2021 Future Short 5,270.14 5,186.80 161.43
IOICOCT20
Power Grid Corporation of India Limited April 2021 Future Short 223.07 217.20 114.33
ITCLOCT20
Ambuja Cements Limited April 2021 Future Short 296.86 310.30 167.53
JVSLOCT20
Petronet LNG Limited April 2021 Future Short 229.38 226.25 185.98
LTFLOCT20
LUPLOCT20
Wipro Limited April 2021 Future Short 408.86 417.15 161.85
MAGLOCT20
REC Limited April 2021 Future Short 139.78 131.80 194.17
MAHIOCT20
Power Finance Corporation Limited April 2021 Future Short 121.15 114.30 202.68
MARCOCT20
Indian Oil Corporation Limited April 2021 Future Short 96.28 92.15 183.13
MAXIOCT20
Havells India Limited April 2021 Future Short 1,041.69 1,057.80 205.90
MCSPOCT20
GAIL (India) Limited April 2021 Future Short 136.94 136.25 383.93
MMFSOCT20
SRF Limited April 2021 Future Short 5,357.91 5,435.10 239.75
MOSUOCT20
Tata Power Company Limited April 2021 Future Short 103.87 103.90 281.34
MRFLOCT20
Hindalco Industries Limited April 2021 Future Short 329.99 328.40 314.00
MUFLOCT20
NMDC Limited April 2021 Future Short 130.48 136.40 360.27
NICHOCT20
Tata Consultancy Services Limited April 2021 Future Short 3,133.38 3,193.35 284.63
NMDCOCT20
Coal India Limited April 2021 Future Short 136.47 131.25 351.48
NTPCOCT20
Pidilite Industries Limited April 2021 Future Short 1,798.29 1,822.25 307.21
PGCIOCT20
UPL Limited April 2021 Future Short 623.19 645.95 486.09
PIDIOCT20
Shriram Transport Finance Company Limited April 2021 Future Short 1,415.86 1,426.55 612.49
PLNGOCT20
NTPC Limited April 2021 Future Short 108.18 106.95 413.33
POWFOCT20
HDFC Life Insurance Company Limited April 2021 Future Short 685.21 698.30 411.66
RELCOCT20
570
DLF Limited April 2021 Future Short 290.52 288.55 555.69

Piramal Enterprises Limited April 2021 Future Short 1,849.64 1,766.40 956.19
Indian Railway Catering And Tourism Corporation Limited April 2021 Future Short 1,816.77 1,769.15 494.16
Cipla Limited April 2021 Future Short 782.32 819.70 454.81
Bajaj Auto Limited April 2021 Future Short 3,679.45 3,684.00 452.66
United Spirits Limited April 2021 Future Short 547.17 560.35 460.35
Steel Authority of India Limited April 2021 Future Short 73.51 79.65 1,026.42
Zee Entertainment Enterprises Limited April 2021 Future Short 212.07 204.15 1,119.76
Lupin Limited April 2021 Future Short 1,009.34 1,024.40 760.41
Hindustan Petroleum Corporation Limited April 2021 Future Short 236.75 235.25 1,211.07
Cadila Healthcare Limited April 2021 Future Short 430.61 443.45 748.84
SAILOCT20
Infosys Limited April 2021 Future Short 1,363.95 1,377.05 759.56
SBAIOCT20
Aurobindo Pharma Limited April 2021 Future Short 845.94 884.25 1,208.98
SECHOCT20
ACC Limited April 2021 Future Short 1,855.28 1,915.65 762.55
SESAOCT20
IndusInd Bank Limited April 2021 Future Short 989.58 961.40 2,239.25
SHCEOCT20
ITC Limited April 2021 Future Short 214.75 219.35 1,069.58
SLIFOCT20
Tech Mahindra Limited April 2021 Future Short 1,011.35 998.65 1,356.67
SRFLOCT20
Grasim Industries Limited April 2021 Future Short 1,408.53 1,457.25 1,846.45
SUNTOCT20
Tata Consumer Products Limited April 2021 Future Short 632.25 641.45 2,141.80
TCHEOCT20
Asian Paints Limited April 2021 Future Short 2,441.55 2,554.75 1,826.51
TELCOCT20
ICICI Bank Limited April 2021 Future Short 580.16 584.85 2,515.82
TISCOCT20
Tata Steel Limited April 2021 Future Short 733.62 816.70 3,142.74
TTEAOCT20
Bharat Petroleum Corporation Limited April 2021 Future Short 434.92 430.95 4,375.67
TWATOCT20
State Bank of India April 2021 Future Short 369.05 366.35 3,497.71
UBBLOCT20
Adani Ports and Special Economic Zone Limited April 2021 Future Short 720.48 707.40 3,573.95
VOLTOCT20
Housing Development Finance Corporation Limited April 2021 Future Short 2,520.49 2,515.60 2,713.43
WIPROCT20
Bharti Airtel Limited April 2021 Future Short 531.97 520.70 2,786.01
ZEETOCT20
Dr. Reddy's Laboratories Limited April 2021 Future Short 4,379.31 4,547.90 2,297.28


Gross Notional Value of contracts where futures were bought : Rs. 2,782,922.80 Lakhs
Gross Notional Value of contracts where futures were sold : Rs. 2,520,381.29 Lakhs
Net Profit/(Loss) value on all contracts combined : Rs. (112,117.54) Lakhs

contract Lakhs
NIL

NIL

571

Option Price when
purchased
NIL

572
A. Hedging Positions through Futures as on February 02, 2021

contract Lakhs
NIL
For the period ended February 02, 2021 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on February 02, 2021

contract Lakhs
NIL
For the period ended February 02, 2021 following details specified for non-hedging transactions through futures which have been squared off/expired:

Gross Notional Value of contracts where futures were bought : NIL
Gross Notional Value of contracts where futures were sold : NIL
Net Profit/(Loss) value on all contracts combined : NIL
C. Hedging Positions through Put Options as on February 02, 2021
NIL
For the period ended February 02, 2021 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on February 02, 2021

Option Price when
purchased
NIL
Total Exposure through options as a %age of net assets - NIL
For the period ended February 02, 2021 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. (249.42) Lakhs
E. Hedging Positions through swaps as on February 02, 2021 - NIL
573
AXIS EMERGING OPPORTUNITIES FUND - SERIES 1 (1400 DAYS)
A. Hedging Positions through Futures as on October 28, 2020

contract Lakhs
TELCAPR16 NIL
For the period ended October 28, 2020 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on October 28, 2020

contract Lakhs
NIFYOCT20 NIL
For the period ended October 28, 2020 following details specified for non-hedging transactions through futures which have been squared off/expired:

Net Profit/(Loss) value on all contracts combined : Rs. 66.25 Lakhs
C. Hedging Positions through Put Options as on October 28, 2020
NIL
For the period ended October 28, 2020 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on October 28, 2020

Option Price when
purchased
NIL
For the period ended October 28, 2020 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on October 28, 2020 - NIL
574
AXIS EMERGING OPPORTUNITIES FUND - SERIES 2 (1400 DAYS)
A. Hedging Positions through Futures as on December 28, 2020

contract Lakhs
NIL
For the period ended December 28, 2020 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on December 28, 2020

contract Lakhs
NIFYOCT20 Nil
For the period ended December 28, 2020 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on December 28, 2020
NIL
For the period ended December 28, 2020 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on December 28, 2020

Option Price when
purchased
NIL
For the period ended December 28, 2020 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on December 28, 2020 - NIL
575
AXIS BLUECHIP FUND

contract Lakhs
Bharat Petroleum Corporation Limited April 2021 Future Long 433.20 430.95 5785.03
Tata Steel Limited April 2021 Future Long 746.68 816.70 3862.14
State Bank of India April 2021 Future Long 368.53 366.35 3756.06
Hindalco Industries Limited April 2021 Future Long 333.80 328.40 2683.03

Net Profit/(Loss) value on all contracts combined : Rs. 6,243.21 Lakhs

contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

Net Profit/(Loss) on all contracts (premium paid treated as loss : Rs. NIL
576
AXIS EQUITY SAVER FUND

contract Lakhs
BTVLOCT20
HDFCOCT20
IndusInd Bank Limited April 2021 Future Short 979.85 961.40 4.46
IBCLOCT20
Bharat Heavy Electricals Limited April 2021 Future Short 50.90 48.90 4.46
MAUDOCT20
Dr. Reddy's Laboratories Limited April 2021 Future Short 4,433.58 4,547.90 2.21
RINDOCT20
ACCLOCT20
Tata Chemicals Limited April 2021 Future Short 768.22 756.95 29.52
UPL Limited April 2021 Future Short 628.64 645.95 53.20
Lupin Limited April 2021 Future Short 1,018.64 1,024.40 44.84
Pidilite Industries Limited April 2021 Future Short 1,796.35 1,822.25 54.42
DIVIOCT20
Hindustan Unilever Limited April 2021 Future Short 2,355.54 2,439.35 58.95
DRRLOCT20
United Spirits Limited April 2021 Future Short 551.27 560.35 91.17
GRASOCT20
HEROOCT20
State Bank of India April 2021 Future Short 370.37 366.35 184.70
IIBLOCT20
MAHIOCT20
Grasim Industries Limited April 2021 Future Short 1,411.15 1,457.25 149.24
MCSPOCT20
Adani Ports and Special Economic Zone Limited April 2021 Future Short 723.91 707.40 252.64
MOSUOCT20
ICICI Bank Limited April 2021 Future Short 581.43 584.85 503.61
RELCOCT20
Bharti Airtel Limited April 2021 Future Short 532.22 520.70 488.98
SBAIOCT20
SESAOCT20
Housing Development Finance Corporation Limited April 2021 Future Short 2,523.18 2,515.60 870.79

contract Lakhs
NIL

NIL

NIL

577

contract Lakhs
NIL

Gross Notional Value of contracts where futures were bought : Rs. 3235.03 Lakhs

contract Lakhs
NIL

NIL


Option Price when
purchased
N20J11000P
Nifty 50 Index 14500 Put June 2021 Option Put 301 484.97 419.75
Nifty 50 Index 14500 Put April 2021 Option Put 200 354.97 234.60
Total Exposure through options as a %age of net assets : 0.51%

Gross Notional Value of contracts : Rs. 873.43
578
AXIS FOCUSED 25 FUND

contract Lakhs
ICICI Bank Limited April 2021 Future Long 578.84 584.85 11060.48
Tata Steel Limited April 2021 Future Long 733.59 816.70 4327.35
Tata Motors Limited April 2021 Future Long 309.46 303.95 194.04


contract Lakhs
CIPLOCT20 NIL

NIL


Option Price when
purchased
NIL

579
A. Hedging Positions through Futures as on August 20, 2020

contract Lakhs
NIL
For the period ended August 20, 2020 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on August 20, 2020

contract Lakhs
NIL
For the period ended August 20, 2020 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on August 20, 2020
NIL
For the period ended August 20, 2020 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on August 20, 2020

Option Price when
purchased
NIL

For the period ended August 20, 2020 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

Gross Notional Value of contracts : Rs. 2,674.85 Lakhs
Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. 167.85 Lakhs
E. Hedging Positions through swaps as on August 20, 2020 - NIL
580
A. Hedging Positions through Futures as on September 30, 2020

contract Lakhs
NIL
For the period ended September 30, 2020 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on September 30, 2020

contract Lakhs
NIL
For the period ended September 30, 2020 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on September 30, 2020
NIL
For the period ended September 30, 2020 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on September 30, 2020

Option Price when
purchased
NIL

For the period ended September 30, 2020 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on September 30, 2020 - NIL
581

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL


582

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL


583

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

584
AXIS MIDCAP FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

585
AXIS FLEXICAP FUND ^

contract Lakhs
Bharat Petroleum Corporation Limited April 2021 Future Long 437.09 430.95 1020.89


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

^ Name of Axis Multicap Fund has been changed to Axis Flexicap Fund w.e.f. January 30, 2021.
586
AXIS NIFTY ETF

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

587

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

588
AXIS SMALL CAP FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

589

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

590

contract Lakhs
State Bank of India April 2021 Future Long 372.50 366.35 188.77


contract Lakhs
NIFYOCT20 NIL

NIL


Option Price when
purchased
AXISCP1 NIL

591

contract Lakhs
NIL

Gross Notional Value of contracts where futures were bought : Rs. 470.82 Lakhs
Gross Notional Value of contracts where futures were sold : Rs. 496.25 Lakhs

contract Lakhs
NIFYOCT20 NIL

Gross Notional Value of contracts where futures were bought : Rs.34,354.50 Lakhs
NIL


Option Price when
purchased
AXISCP1 NIL

592
AXIS GROWTH OPPORTUNITIES FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

593

contract Lakhs


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

594

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

595

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

596
Axis Special Situations Fund

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

597
Historical Per Unit Statistics

Axis Liquid Fund Axis Overnight Fund Axis Treasury Advantage Fund
Per Unit Particulars (Rupees)
As on As on As on As on As on As on As on As on As on
March 31, 2021 March 31, 2020 March 31, 2019 March 31, 2021 March 31, 2020 March 31, 2019 March 31, 2021 March 31, 2020 March 31, 2019
Face Value Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/-
Unit Capital (Rupees in "000") 95,828,158 98,684,353 116,095,556 50,113,480 35,178,386 2,262,870 35,520,403 19,822,237 7,389,475
Avg Net asset (Rupees in "000") 278,901,330 318,078,359 250,937,202 46,028,425 11,670,121 3,156,190 76,783,149 30,052,410 21,984,599
No of Days 365 366 365 365 366 17 365 366 365
Net Asset Value (NAV) ^
ETF - - - - - - - - -
Regular Growth 2,272.7283 2,194.1982 2,065.0989 1,086.6086 1,054.7815 1,002.8937 2,400.9732 2,255.7326 2,087.8789
Regular IDCW - - - - - - - - -
Regular Daily IDCW 1,001.3997 1,001.3998 1,001.3998 1,000.5032 1,000.5032 1,000.4995 1,013.2484 1,006.2339 1,006.6420
Regular Weekly IDCW 1,002.1933 1,002.4823 1,003.9084 1,000.7608 1,000.6828 1,001.7203 1,012.0696 1,006.7383 1,008.6891
Regular Monthly IDCW 1,001.8605 1,004.9983 1,002.6891 1,001.3627 1,000.9334 1,002.8956 1,010.8444 1,010.3398 1,008.1377
Regular Quarterly IDCW - - - - - - - - -
Regular Half Yearly IDCW - - - - - - - - -
Regular Annual IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - - - -
Retail Growth 2,125.7941 2,062.6268 1,949.9125 - - - 2,251.0273 2,114.8497 1,953.8283
Retail Daily IDCW 1,000.9559 1,000.9559 1,000.9559 - - - 1,012.4736 1,005.5662 1,005.8846
Retail Weekly IDCW 1,000.7712 1,001.0013 1,002.3582 - - - 1,012.0696 1,006.0079 1,007.2872
Retail Monthly IDCW 1,001.1965 1,004.3392 1,002.0170 - - - 1,010.8470 1,010.3497 1,008.1340
Direct Regular IDCW - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 2,284.7906 2,204.3348 2,073.5234 1,087.9196 1,055.5162 1,002.9164 2,482.5840 2,325.0996 2,145.7201
Direct Daily IDCW 1,000.9560 1,000.9243 1,000.9560 1,000.5061 1,000.5073 1,000.5059 1,012.4787 1,007.2893 1,007.7149
Direct Weekly IDCW 1,002.1955 1,002.4839 1,003.9167 1,000.7950 1,000.7157 - 1,012.0787 1,006.0124 1,007.3345
Direct Monthly IDCW 1,001.2817 1,004.4095 1,002.1029 1,001.3792 1,000.9470 1,002.9230 1,010.8984 1,010.6311 1,008.1860
Direct Quarterly IDCW - - - - - - - - -
Direct Half Yearly IDCW - - - - - - - - -
Direct Annual IDCW - - - - - - - - -
Direct Bonus - 2,204.3605 2,073.4154 - - - - - -
Income
Income other than profit (loss) on

111.16 198.01 159.52 28.41 15.01 4.12 119.01 106.68 237.50
sale of investment, per unit (A)
Income from profit (loss) on sale of

investment to third party, per unit (1.50) (0.37) (0.26) $0.00 - - 5.13 5.33 (4.85)
(B)
Income from profit (loss) on inter-
scheme sales/transfer of 0.06 0.01 0.04 0.00 - - 1.57 1.31 (4.75)
investment, per unit (C)
Transfer to revenue account from
2.75 2.67 1.05 $0.00 $0.00 - 0.32 0.57 4.12
past year’s reserve, per unit
Gross Income (A+B+C= D) 109.72 197.65 159.30 28.41 15.01 4.12 125.70 113.32 227.91
Expenses (E)
Aggregate Of Expenses,Write-
5.33 3.91 2.30 0.70 0.29 0.07 8.32 5.82 13.15
Off,Amortisation and charges;
Net Income (D-E = F) 104.40 193.74 157.00 27.71 14.72 4.05 117.39 107.51 214.75
Net unrealised
appreciation/depreciation in value 0.14 0.88 0.87 0.00 0.00 0.00 5.01 (1.43) 6.47
of investments, per unit
Ratio Of Expenses To Average Net

0.18% 0.12% 0.11% 0.08% 0.09% 0.11% 0.38% 0.38% 0.44%
Assets
Ratio Of Gross Income To Average
3.77% 6.13% 7.37% 3.09% 4.53% 6.34% 5.82% 7.47% 7.66%
Net Assets
Repurchase Price #
598
Historical Per Unit Statistics (Contd.)

Highest
ETF - - - - - - - - -
Regular Growth 2,272.7283 2,194.1961 2,065.0995 1,086.6086 1,054.7816 1,002.8937 2,400.9730 2,255.7241 2,087.0312
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - - - -
Retail Growth 2,125.7941 2,062.6268 1,949.9125 - - - 2,251.0273 2,114.8481 1,953.0353
Direct IDCW - - - - - - - - -
Direct Growth 2,284.7906 2,204.3364 2,073.5234 1,087.9196 1,055.5186 1,002.9164 2,482.5841 2,325.1531 2,144.8140
Direct Bonus 2,215.5705 2,204.3605 2,073.4154 - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 2,194.4705 2,065.5010 1,921.1403 1,054.7947 1,003.0741 1,000.0000 2,251.2461 2,091.2594 1,939.3545
Regular IDCW - - - - - - - - -
Regular Daily IDCW 1,001.3641 999.8826 1,001.3998 1,000.5032 1,000.4940 1,000.0000 1,003.4980 991.3992 1,004.8903
Regular Weekly IDCW 1,002.0588 1,000.6549 1,002.0913 1,000.6715 1,000.6715 1,000.0000 1,004.4610 991.6033 1,004.9495
Regular Monthly IDCW 1,001.2778 1,000.8742 1,000.8742 1,000.8385 1,000.8385 1,000.0000 1,004.5081 992.6785 1,005.1585
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - - - -
Retail Growth 2,062.8564 1,950.2656 1,823.9703 - - - 2,110.6496 1,956.9921 1,814.8743
Retail Daily IDCW 1,000.9065 999.3492 1,000.9559 - - - 1,002.8322 990.7427 1,004.1341
Retail Weekly IDCW 1,000.6244 999.0815 1,000.6241 - - - 1,003.7290 990.8835 1,003.5504
Retail Monthly IDCW 1,000.6762 1,000.2810 1,000.2810 - - - 1,004.5056 992.6854 1,005.1551
Direct IDCW - - - - - - - - -
Direct Growth 2,204.6153 2,073.9296 1,927.9382 1,055.5331 1,003.0981 1,000.0000 2,320.7087 2,149.2651 1,983.9208
Direct Daily IDCW 1,000.9223 999.4494 1,000.9560 1,000.4043 1,000.4976 1,000.0000 1,004.6001 992.5873 1,006.0033
Direct Weekly IDCW 1,002.0609 1,000.6630 1,002.0913 1,000.7022 999.8626 - 1,003.7452 991.0024 1,003.5651
Direct Monthly IDCW 1,000.6876 1,000.2808 1,000.2808 1,000.8457 1,000.8457 1,000.0000 1,004.5270 992.9081 1,005.1894
Direct Bonus 2,204.6387 2,073.8217 1,927.8161 - - - - - -
# As per Circulars No. SEBI/HI/IMD/DF2/CIR/P/2018/92, repurchase NAV is not declared on AMFI and hence the details pertains to NAV declared on AMFI`
599

Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 2,272.7283 2,194.1961 2,065.0995 1,086.6086 1,054.7816 1,002.8937 2,400.9730 2,255.7241 2,087.0312
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - - - -
Retail Growth 2,125.7941 2,062.6268 1,949.9125 - - - 2,251.0273 2,114.8481 1,953.0353
Direct IDCW - - - - - - - - -
Direct Growth 2,284.7906 2,204.3364 2,073.5234 1,087.9196 1,055.5186 1,002.9164 2,482.5841 2,325.1531 2,144.8140
Direct Bonus 2,215.5705 2,204.3605 2,073.4154 - - - - - -
Lowest
ETF
Regular Growth 2,194.4705 2,065.5010 1,921.1403 1,054.7947 1,003.0741 1,000.0000 2,251.2461 2,091.2594 1,939.3545
Regular IDCW - - - - - - - - -
Regular Daily IDCW 1,001.3641 999.8826 1,001.3998 1,000.5032 1,000.4940 1,000.0000 1,003.4980 991.3992 1,004.8903
Regular Weekly IDCW 1,002.0588 1,000.6549 1,002.0913 1,000.6715 1,000.6715 1,000.0000 1,004.4610 991.6033 1,004.9495
Regular Monthly IDCW 1,001.2778 1,000.8742 1,000.8742 1,000.8385 1,000.8385 1,000.0000 1,004.5081 992.6785 1,005.1585
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - - - -
Retail Growth 2,062.8564 1,950.2656 1,823.9703 - - - 2,110.6496 1,956.9921 1,814.8743
Retail Daily IDCW 1,000.9065 999.3492 1,000.9559 - - - 1,002.8322 990.7427 1,004.1341
Retail Weekly IDCW 1,000.6244 999.0815 1,000.6241 - - - 1,003.7290 990.8835 1,003.5504
Retail Monthly IDCW 1,000.6762 1,000.2810 1,000.2810 - - - 1,004.5056 992.6854 1,005.1551
Direct IDCW - - - - - - - - -
Direct Growth 2,204.6153 2,073.9296 1,927.9382 1,055.5331 1,003.0981 1,000.0000 2,320.7087 2,149.2651 1,983.9208
Direct Daily IDCW 1,000.9223 999.4494 1,000.9560 1,000.4043 1,000.4976 1,000.0000 1,004.6001 992.5873 1,006.0033
Direct Weekly IDCW 1,002.0609 1,000.6630 1,002.0913 1,000.7022 999.8626 - 1,003.7452 991.0024 1,003.5651
Direct Monthly IDCW 1,000.6876 1,000.2808 1,000.2808 1,000.8457 1,000.8457 1,000.0000 1,004.5270 992.9081 1,005.1894
Direct Bonus 2,204.6387 2,073.8217 1,927.8161 - - - - - -
600

Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
601

Axis Banking & PSU Debt Fund Axis Short Term Fund Axis Strategic Bond Fund
No of Days 365 366 365 365 366 365 365 366 365
ETF - - - - - - - - -
Regular Growth 2,059.4026 1,911.3641 1,747.6744 23.8935 22.1395 20.2321 21.1238 19.5575 18.1899
Regular IDCW - - - - - - - - -
Regular Daily IDCW 1,039.1302 1,022.4957 1,014.8190 - - - - - -
Regular Weekly IDCW 1,038.8619 1,024.5089 1,016.5659 10.4026 10.2640 10.2772 - - -
Regular Monthly IDCW 1,034.5240 1,024.8823 1,016.6565 10.2367 10.3273 10.1911 - - -
Regular Quarterly IDCW - - - - - - 10.4118 10.5904 10.2300
Regular Half Yearly IDCW - - - - - - 10.8730 10.6331 10.4640
Regular Bonus - - - - 22.2660 20.3479 - - -
Regular IDCW - - - 15.9843 14.8107 13.5352 - - -
Retail Growth - - - 23.6254 21.8896 20.0039 - - -
Retail Daily IDCW - - - - - - - - -
Retail Weekly IDCW - - - 10.2325 10.1728 10.1853 - - -
Retail Monthly IDCW - - - 10.0503 10.1440 10.0559 - - -
Direct Regular IDCW - - - 15.5428 14.3029 12.9341 - - -
Direct IDCW - - - - - - - - -
Direct Growth 2,097.7900 1,940.9930 1,769.5911 25.4019 23.3754 21.2260 22.5532 20.7346 19.1554
Direct Daily IDCW 1,039.1306 1,022.4960 1,014.8333 - - - - - -
Direct Weekly IDCW 1,038.8733 1,024.5181 1,016.6108 10.2531 10.2646 10.2769 - - -
Direct Monthly IDCW 1,034.5853 1,025.1822 1,016.7173 10.0581 10.1517 10.0581 - - -
Direct Quarterly IDCW - - - - - - 10.5139 10.6128 10.7701
Direct Half Yearly IDCW - - - - - - 11.4924 11.1292 10.8530
Direct Bonus - - - - - - - - -
Income

137.05 104.49 47.87 1.39 1.16 2.62 1.23 1.62 1.75

investment to third party, per unit 14.05 (1.53) (0.28) 0.07 0.14 (0.20) 0.04 (0.33) (0.02)
(B)
scheme sales/transfer of 2.18 1.18 (0.87) 0.06 0.07 (0.11) 0.10 0.01 (0.11)
0.34 0.42 0.87 $0.00 $0.00 0.02 $0.00 $0.00 0.01
Expenses (E)
8.44 5.31 2.25 0.12 0.08 0.13 0.14 0.17 0.18
Net Income (D-E = F) 144.83 98.83 44.47 1.42 1.29 2.17 1.22 1.13 1.45
Net unrealised
appreciation/depreciation in value 27.39 30.54 24.02 (0.02) 0.08 $0.00 0.09 0.17 (0.11)

0.43% 0.38% 0.37% 0.54% 0.51% 0.41% 0.90% 0.89% 0.92%
Assets
7.78% 7.49% 7.71% 7.13% 8.83% 6.99% 8.57% 6.71% 8.15%
Net Assets
Repurchase Price #
Highest
ETF - - - - - - - - -
Regular Growth 2,059.4026 1,911.3661 1,747.0298 23.9148 22.1393 20.2245 21.1234 19.5756 18.1823
602

Regular IDCW - - - - - - - - -
Regular Bonus - - - 22.4586 22.2660 20.3402 - - -
Regular IDCW - - - 15.9985 14.8107 13.5301 - - -
Retail Growth - - - 23.6472 21.8896 19.9963 - - -
Direct IDCW - - - - - - - - -
Direct Growth 2,097.7900 1,940.9982 1,768.9149 25.4019 23.3754 21.2173 22.5530 20.7452 19.1468
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 1,898.6492 1,740.9090 1,599.1453 21.9838 20.2536 18.7972 19.3827 18.0137 16.8585
Regular IDCW - - - - - - - - -
Regular Daily IDCW 1,015.6929 993.2239 999.1387 - - - - - -
Regular Weekly IDCW 1,017.6922 993.7348 998.3974 10.1919 9.9927 10.1708 - - -
Regular Monthly IDCW 1,018.0635 993.7511 998.5755 10.1640 10.0371 10.1226 - - -
Regular Bonus - - - 22.1096 20.3695 18.9048 - - -
Regular IDCW - - - 14.7067 13.5495 12.5750 - - -
Retail Growth - - - 21.7358 20.0251 18.5852 - - -
Direct IDCW - - - - - - - - -
Direct Growth 1,928.2268 1,763.0571 1,615.3084 23.2150 21.2514 19.6080 20.5589 18.9944 17.6539
Direct Daily IDCW 1,015.7683 993.3904 999.3650 - - - - - -
Direct Weekly IDCW 1,017.7769 993.8581 998.6317 10.1916 9.9953 10.1780 - - -
Direct Monthly IDCW 1,018.4367 993.9848 998.7997 9.9843 9.8706 9.9940 - - -
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 2,059.4026 1,911.3661 1,747.0298 23.9148 22.1393 20.2245 21.1234 19.5756 18.1823
Regular IDCW - - - - - - - - -
Regular Bonus - - - 22.4586 22.2660 20.3402 - - -
Regular IDCW - - - 15.9985 14.8107 13.5301 - - -
603

Retail Growth - - - 23.6472 21.8896 19.9963 - - -
Direct IDCW - - - - - - - - -
Direct Growth 2,097.7900 1,940.9982 1,768.9149 25.4019 23.3754 21.2173 22.5530 20.7452 19.1468
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 1,898.6492 1,740.9090 1,599.1453 21.9838 20.2536 18.7972 19.3827 18.0137 16.8585
Regular IDCW - - - - - - - - -
Regular Daily IDCW 1,015.6929 993.2239 999.1387 - - - - - -
Regular Weekly IDCW 1,017.6922 993.7348 998.3974 10.1919 9.9927 10.1708 - - -
Regular Monthly IDCW 1,018.0635 993.7511 998.5755 10.1640 10.0371 10.1226 - - -
Regular Bonus - - - 22.1096 20.3695 18.9048 - - -
Regular IDCW - - - 14.7067 13.5495 12.5750 - - -
Retail Growth - - - 21.7358 20.0251 18.5852 - - -
Direct IDCW - - - - - - - - -
Direct Growth 1,928.2268 1,763.0571 1,615.3084 23.2150 21.2514 19.6080 20.5589 18.9944 17.6539
Direct Daily IDCW 1,015.7683 993.3904 999.3650 - - - - - -
Direct Weekly IDCW 1,017.7769 993.8581 998.6317 10.1916 9.9953 10.1780 - - -
Direct Monthly IDCW 1,018.4367 993.9848 998.7997 9.9843 9.8706 9.9940 - - -
Direct Bonus - - - - - - - - -
Trading Price

unit.)
604

Axis Dynamic Bond Fund Axis Regular Saver Fund Axis Gilt Fund
Unit Capital (Rupees in "000") 7,949,107 2,250,891 707,002 1,051,927 969,744 1,462,851 813,027 335,403 222,715
Avg Net asset (Rupees in "000") 10,447,891 2,038,075 1,805,263 1,895,710 2,221,563 3,220,811 1,500,491 437,125 397,412
No of Days 365 366 365 365 366 365 365 366 365
ETF - - - - - - - - -
Regular Growth 22.9350 21.3032 18.9123 22.4085 18.7629 19.4848 19.7661 18.2559 15.9762
Regular IDCW - - - - - - - - -
Regular Daily IDCW - - - - - - - - -
Regular Weekly IDCW - - - - - - - - -
Regular Monthly IDCW - - - - - - - - -
Regular Quarterly IDCW 10.8040 10.7890 10.3228 11.8405 10.0915 10.5320 - - -
Regular Half Yearly IDCW 10.6540 10.7440 10.4548 11.9362 10.1699 10.5613 10.7831 10.8958 10.4326
Regular Annual IDCW - - - 12.1726 10.1923 11.1028 - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - 9.9658 10.2061 10.0835
Retail Growth - - - - - - - - -
Retail Weekly IDCW - - - - - - - - -
Retail Monthly IDCW - - - - - - - - -
Direct Regular IDCW - - - - - - 9.9776 10.2113 10.0852
Direct IDCW - - - - - - - - -
Direct Growth 24.8110 22.9506 20.2408 24.7824 20.5262 21.1112 20.6160 18.9589 16.4981
Direct Daily IDCW - - - - - - - - -
Direct Weekly IDCW - - - - - - - - -
Direct Monthly IDCW - - - - - - - - -
Direct Quarterly IDCW 10.8116 10.9406 10.5779 13.3628 11.9615 13.3358 - - -
Direct Half Yearly IDCW 11.7446 11.7990 11.3189 12.1870 10.5398 11.3613 10.9399 10.9826 10.4629
Direct Annual IDCW - - - 13.3397 11.0612 11.9017 - - -
Direct Bonus - - - - - - - - -
Income

0.90 0.67 2.01 0.94 1.28 1.42 1.03 0.87 1.26

investment to third party, per unit 0.01 0.08 0.15 0.67 (0.59) 0.96 0.26 0.74 (0.16)
(B)
scheme sales/transfer of 0.01 $0.00 (0.13) $(0.00) $0.00 (0.01) $0.00 0.04 $0.00
$0.00 0.01 0.03 0.01 0.01 0.06 $0.00 0.01 0.01
Expenses (E)
0.06 0.07 0.32 0.40 0.51 0.53 0.11 0.06 0.09
Net Income (D-E = F) 0.86 0.69 1.71 1.21 0.18 1.84 1.18 1.60 1.01
Net unrealised
appreciation/depreciation in value (0.07) 0.45 (0.13) 1.89 0.01 0.68 $0.00 0.18 0.09

0.43% 0.78% 1.26% 2.24% 2.21% 2.43% 0.62% 0.44% 0.49%
Assets
6.96% 8.40% 7.96% 8.96% 3.01% 10.77% 7.03% 12.70% 6.16%
Net Assets
Repurchase Price #
605

Highest
ETF - - - - - - - - -
Regular Growth 23.1130 21.4653 18.9061 22.4919 19.9226 19.4805 19.9548 18.4088 15.9794
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - 10.5795 10.5324 10.3213
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 24.9812 23.1191 20.2334 24.8424 21.7881 21.1051 20.7836 19.0920 16.5008
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 20.6927 18.8191 17.4373 18.5518 18.0370 18.3889 18.1045 15.9484 14.7047
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - 9.9105 9.9623 9.8228
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 22.2950 20.1507 18.5329 20.3135 19.7439 19.8647 18.7827 16.4741 15.1193
Direct Bonus - - - - - - - - -
606

Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 23.1130 21.4653 18.9061 22.4919 19.9226 19.4805 19.9548 18.4088 15.9794
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - 10.5795 10.5324 10.3213
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 24.9812 23.1191 20.2334 24.8424 21.7881 21.1051 20.7836 19.0920 16.5008
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 20.6927 18.8191 17.4373 18.5518 18.0370 18.3889 18.1045 15.9484 14.7047
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - - - - 9.9105 9.9623 9.8228
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 22.2950 20.1507 18.5329 20.3135 19.7439 19.8647 18.7827 16.4741 15.1193
Direct Bonus - - - - - - - - -
607

Trading Price

unit.)
608

Axis Credit Risk Fund Axis Corporate Debt Fund Axis Money Market Fund Axis Nifty 100 Index Fund
As on As on As on As on As on As on As on As on As on As on
March 31, 2021 March 31, 2020 March 31, 2019 March 31, 2021 March 31, 2020 March 31, 2019 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.1000/- Rs.1000/- Rs.10/- Rs.10/-
Unit Capital (Rupees in "000") 3,627,953 7,004,924 11,340,865 28,878,257 1,567,208 2,121,845 20,154,641 4,336,242 3,185,837 3,581,602
Avg Net asset (Rupees in "000") 6,375,358 13,879,941 17,148,074 19,247,527 2,059,666 2,869,529 14,811,258 4,442,304 3,523,445 3,652,131
No of Days 365 366 365 365 366 365 365 239 365 166
ETF - - - - - - - - - -
Regular Growth 16.2892 15.1662 14.5506 13.1754 12.0639 11.4030 1,104.2394 1,046.4609 12.4959 7.4609
Regular IDCW - - - - - - - - - -
Regular Daily IDCW - - - 10.2347 10.1540 10.0764 1,005.6127 1,002.4686 - -
Regular Weekly IDCW 10.1704 10.1703 10.1917 10.2517 10.1676 10.0853 - - - -
Regular Monthly IDCW 10.1471 10.1711 10.1226 10.2073 10.1734 10.0729 1,006.4809 1,008.5878 - -
Regular Quarterly IDCW - - - - - - 1,035.2113 1,019.5403 - -
Regular Half Yearly IDCW - - - - - - - - - -
Regular Annual IDCW - - - - - - 1,104.2309 1,046.4565 - -
Regular Bonus - - - - - - - - - -
Regular IDCW - - - 13.1763 12.0647 11.4036 - - 12.4968 7.4613
Retail Growth - - - - - - - - - -
Retail Daily IDCW - - - - - - - - - -
Retail Weekly IDCW - - - - - - - - - -
Retail Monthly IDCW - - - - - - - - - -
Direct Regular IDCW - - - 13.5625 12.3332 11.5683 - - - -
Direct IDCW - - - - - - - - 12.6607 7.4949
Direct Growth 17.5905 16.2000 15.3583 13.5664 12.3364 11.5712 1,106.8851 1,047.4197 12.6426 7.4842
Direct Daily IDCW - - - 10.2348 10.1583 10.0834 1,005.6107 1,002.5075 - -
Direct Weekly IDCW 10.2507 10.2571 10.2742 10.3699 10.1733 10.0805 - - - -
Direct Monthly IDCW 10.1553 10.1233 10.0685 10.2113 10.1879 10.0741 1,008.4030 1,009.6290 - -
Direct Quarterly IDCW - - - - - - 1,038.0490 1,020.2798 - -
Direct Half Yearly IDCW - - - - - - - - - -
Direct Annual IDCW - - - - - - 1,107.0819 1,047.6255 - -
Direct Bonus - - - - - - - - - -
Income

1.50 1.71 1.36 0.40 0.95 1.09 32.42 43.24 0.15 0.06

investment to third party, per unit (0.23) (0.84) (0.06) (0.02) (0.30) 0.09 1.79 2.37 0.27 0.09
(B)
scheme sales/transfer of 0.02 0.02 (0.07) 0.01 0.06 (0.03) 0.10 - $0.00 -
0.01 $0.00 $0.00 0.00 $0.00 0.01 - - - -
Gross Income (A+B+C= D) 1.29 0.89 1.24 0.39 0.71 1.15 34.31 45.61 0.41 0.15
Expenses (E)
0.27 0.31 0.23 0.04 0.11 0.11 1.37 1.24 0.09 0.04
Net Income (D-E = F) 1.02 0.58 1.00 0.35 0.60 1.04 32.93 44.37 0.33 0.10
Net unrealised
appreciation/depreciation in value 0.10 (0.01) (0.10) (0.04) 0.08 0.05 0.55 (1.74) 2.63 (2.33)

1.54% 1.58% 1.55% 0.59% 0.82% 0.78% 0.19% 0.19% 0.81% 0.96%
Assets
7.34% 4.49% 8.18% 5.85% 5.42% 8.49% 4.67% 6.82% 3.75% 3.20%
Net Assets
Repurchase Price #
609

Highest
ETF - - - - - - - - - -
Regular Growth 16.2889 15.1710 14.5446 13.1754 12.0734 11.3988 1,104.2394 1,046.4600 13.0100 10.5400
Regular IDCW - - - - - - - - - -
Regular Bonus - - - - - - - - - -
Regular IDCW - - - 13.1763 12.0741 11.3994 - - 13.0100 10.5400
Retail Growth - - - - - - - - - -
Direct IDCW - - - - - - - - 13.1700 10.5700
Direct Growth 17.5905 16.2000 15.3511 13.5664 12.3395 11.5665 1,106.8851 1,047.4196 13.1500 10.5600
Direct Bonus - - - - - - - - - -
Lowest
ETF - - - - - - - - - -
Regular Growth 14.9764 14.1767 13.5833 11.9586 11.1375 10.4935 1,047.2963 1,000.0000 7.0500 6.6200
Regular IDCW - - - - - - - - - -
Regular Daily IDCW - - - 10.0321 9.6877 10.0552 1,000.9601 990.5381 - -
Regular Monthly IDCW 10.0103 9.7506 10.0490 10.0846 9.6871 10.0383 1,001.2776 993.2846 - -
Regular Bonus - - - - - - - - - -
Regular IDCW - - - 11.9595 11.1381 10.4941 - - 7.0500 6.6200
Retail Growth - - - - - - - - - -
Direct IDCW - - - - - - - - 7.0800 6.6500
Direct Growth 16.0112 15.0017 14.1977 12.2310 11.3173 10.5612 1,048.2656 1,000.0000 7.0700 6.6500
Direct Daily IDCW - - - 10.0314 9.6948 10.0630 1,001.0183 990.6278 - -
Direct Monthly IDCW 9.9564 9.7013 10.0012 10.0969 9.6887 10.0387 1,002.1513 994.2752 - -
Direct Bonus - - - - - - - - - -
610

Resale Price
Highest
ETF - - - - - - - - - -
Regular Growth 16.2889 15.1710 14.5446 13.1754 12.0734 11.3988 1,104.2394 1,046.4600 13.0100 10.5400
Regular IDCW - - - - - - - - - -
Regular Bonus - - - - - - - - - -
Regular IDCW - - - 13.1763 12.0741 11.3994 - - 13.0100 10.5400
Retail Growth - - - - - - - - - -
Direct IDCW - - - - - - - - 13.1700 10.5700
Direct Growth 17.5905 16.2000 15.3511 13.5664 12.3395 11.5665 1,106.8851 1,047.4196 13.1500 10.5600
Direct Bonus - - - - - - - - - -
Lowest
ETF
Regular Growth 14.9764 14.1767 13.5833 11.9586 11.1375 10.4935 1,047.2963 1,000.0000 7.0500 6.6200
Regular IDCW - - - - - - - - - -
Regular Daily IDCW - - - 10.0321 9.6877 10.0552 1,000.9601 990.5381 - -
Regular Monthly IDCW 10.0103 9.7506 10.0490 10.0846 9.6871 10.0383 1,001.2776 993.2846 - -
Regular Bonus - - - - - - - - - -
Regular IDCW - - - 11.9595 11.1381 10.4941 - - 7.0500 6.6200
Retail Growth - - - - - - - - - -
Direct IDCW - - - - - - - - 7.0800 6.6500
Direct Growth 16.0112 15.0017 14.1977 12.2310 11.3173 10.5612 1,048.2656 1,000.0000 7.0700 6.6500
Direct Daily IDCW - - - 10.0314 9.6948 10.0630 1,001.0183 990.6278 - -
Direct Monthly IDCW 9.9564 9.7013 10.0012 10.0969 9.6887 10.0387 1,002.1513 994.2752 - -
Direct Bonus - - - - - - - - - -
611

Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
612

Axis Retirement Savings Fund - Axis Retirement Savings Fund - Axis Retirement Savings Fund -
Aggressive Plan Conservative Plan Dynamic Plan
As on As on As on As on As on As on
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in "000") 4,741,122 4,716,360 894,318 1,056,033 2,130,626 2,504,534
Avg Net asset (Rupees in "000") 4,871,052 4,607,640 1,028,474 1,149,229 2,440,186 2,618,134
No of Days 365 103 365 103 365 103
ETF - - - - - -
Regular Growth 11.9696 8.4558 11.5070 9.5503 12.0534 9.0660

Regular IDCW - - - - - -
Regular Daily IDCW - - - - - -
Regular Weekly IDCW - - - - - -
Regular Monthly IDCW - - - - - -
Regular Quarterly IDCW - - - - - -
Regular Half Yearly IDCW - - - - - -
Regular Annual IDCW - - - - - -
Regular IDCW 11.9718 8.4569 11.5063 9.5497 12.0537 9.0663
Direct Regular IDCW - - - - - -
Direct IDCW 12.2114 8.4816 11.6997 9.5576 12.2371 9.0476
Direct Growth 12.2377 8.4977 11.7713 9.5990 12.3360 9.1113
Direct Daily IDCW - - - - - -
Direct Weekly IDCW - - - - - -
Direct Monthly IDCW - - - - - -
Direct Quarterly IDCW - - - - - -
Direct Annual IDCW - - - - - -
Income

0.23 0.10 0.54 0.17 0.24 0.12

investment to third party, per unit 0.05 $(0.00) 0.67 (0.01) (0.27) 0.36
(B)
scheme sales/transfer of 0.00 - 0.02 0.02 0.00 -
- - - - - -
Gross Income (A+B+C= D) 0.28 0.09 1.24 0.18 (0.03) 0.47
613

Expenses (E)
0.24 0.06 0.23 0.06 0.26 0.07
Net Income (D-E = F) 0.04 0.03 1.00 0.12 (0.30) 0.40
Net unrealised
appreciation/depreciation in value 1.93 (1.56) 0.52 (0.54) 2.02 (1.33)

2.31% 2.35% 2.04% 2.11% 2.31% 2.36%
Assets
2.68% 3.45% 10.75% 6.03% -(0.28)% 16.00%
Net Assets
Repurchase Price #
Highest
ETF - - - - - -
Regular Growth 12.4100 10.5200 11.7125 10.3839 12.4100 10.3500

Regular IDCW 12.4200 10.5200 11.7118 10.3833 12.4100 10.3500
Direct IDCW 12.6500 10.5500 11.8942 10.4138 12.5900 10.3700
Direct Growth 12.6700 10.5500 11.9657 10.4165 12.6900 10.3800
614

Lowest
ETF - - - - - -
Regular Growth 8.1400 7.7800 9.3876 9.0460 8.8700 8.5800

Regular IDCW 8.1400 7.7900 9.3870 9.0454 8.8700 8.5800
Direct IDCW 8.1700 7.8000 9.3970 9.0509 8.8600 8.5600
Direct Growth 8.1800 7.8200 9.4385 9.0902 8.9200 8.6200
Resale Price
Highest
ETF - - - - - -
Regular Growth 12.4100 10.5200 11.7125 10.3839 12.4100 10.3500

Regular IDCW 12.4200 10.5200 11.7118 10.3833 12.4100 10.3500
615

Direct IDCW 12.6500 10.5500 11.8942 10.4138 12.5900 10.3700
Direct Growth 12.6700 10.5500 11.9657 10.4165 12.6900 10.3800
Lowest
ETF
Regular Growth 8.1400 7.7800 9.3876 9.0460 8.8700 8.5800

Regular IDCW 8.1400 7.7900 9.3870 9.0454 8.8700 8.5800
Direct IDCW 8.1700 7.8000 9.3970 9.0509 8.8600 8.5600
Direct Growth 8.1800 7.8200 9.4385 9.0902 8.9200 8.6200
616

Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A.

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
617

Axis All Seasons Debt Fund Of Funds Axis Triple Advantage Fund Axis Gold Fund
As on As on As on As on As on As on As on As on
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in "000") 1,030,156 613,009 3,724,619 1,509,931 1,508,289 1,513,039 557,284 460,321
Avg Net asset (Rupees in "000") 760,390 605,694 5,229,853 2,782,767 2,868,378 1,728,164 551,533 486,116
No of Days 365 64 365 366 365 365 366 365
ETF - - - - - - - -
Regular Growth 10.9852 10.1883 25.6556 17.5230 19.0442 13.6994 13.6637 9.9276
Regular IDCW - - - - - - - -
Regular Daily IDCW - - - - - - - -
Regular Weekly IDCW - - - - - - - -
Regular Monthly IDCW 10.9846 10.1914 - - - - - -
Regular Quarterly IDCW 10.9854 10.1884 - - - - - -
Regular Half Yearly IDCW 11.8316 11.3724 - - - - - -
Regular Annual IDCW 11.0131 10.2232 - - - - - -
Regular IDCW 10.9851 10.1942 18.3792 13.6951 15.5326 13.7170 13.6823 9.9394
Direct Regular IDCW 11.0256 10.1939 - - - - - -
Direct IDCW - - 21.6406 15.6939 17.5026 14.7491 14.6711 10.6329
Direct Growth 11.0209 10.1937 28.1538 18.9408 20.3352 14.7354 14.6580 10.6227
Direct Daily IDCW - - - - - - - -
Direct Weekly IDCW - - - - - - - -
Direct Monthly IDCW 11.0304 10.1995 - - - - - -
Direct Quarterly IDCW 11.0242 10.1938 - - - - - -
Direct Annual IDCW 11.0252 10.1937 - - - - - -
Direct Bonus - - - - - - - -
Income

0.01 0.01 0.22 0.36 0.41 0.05 0.03 0.01

investment to third party, per unit 0.25 (0.01) 0.31 2.67 0.58 $0.00 $(0.00) (0.04)
(B)
scheme sales/transfer of 0.00 0.00 (0.00) 0.00 0.08 0.00 0.00 0.00
- - 0.03 0.08 - - - -
Gross Income (A+B+C= D) 0.26 0.01 0.53 3.03 1.07 0.05 0.03 (0.03)
Expenses (E)
0.02 $0.00 0.31 0.42 0.43 0.04 0.03 0.07
Net Income (D-E = F) 0.24 $0.00 0.22 2.61 0.65 0.02 $0.00 (0.10)
Net unrealised
appreciation/depreciation in value 0.37 0.15 3.50 (1.87) 2.41 (0.02) 3.10 (0.12)
618

0.28% 0.27% 2.20% 2.28% 2.24% 0.33% 0.28% 0.68%
Assets
3.53% 0.33% 3.78% 16.45% 5.64% 0.48% 0.30% -(0.26)%
Net Assets
Repurchase Price #
Highest
ETF - - - - - - - -
Regular Growth 10.9852 10.1934 26.4301 22.3062 19.6279 17.2312 13.9709 10.5673
Regular IDCW - - - - - - - -
Regular IDCW 10.9851 10.1934 19.1827 17.7030 16.0087 17.2520 13.9879 10.5806
Direct IDCW - - 22.5028 20.2270 17.9389 18.5316 15.0201 11.3423
Direct Growth 11.0209 10.1967 28.9509 24.0795 20.8381 18.5140 15.0023 11.3315
Direct Bonus - - - - - - - -
Lowest
ETF - - - - - - - -
Regular Growth 10.0681 9.9120 16.9770 16.1695 17.1415 13.4909 9.8570 9.3085
Regular IDCW - - - - - - - -
Regular IDCW 10.0680 9.9121 13.2682 12.7468 13.9808 13.5072 9.8690 9.3202
Direct IDCW - - 15.2128 14.5928 15.6937 14.5078 10.5614 9.9450
Direct Growth 10.0742 9.9165 18.3576 17.4776 18.2324 14.4941 10.5509 9.9366
619

Direct Bonus - - - - - - - -
Resale Price
Highest
ETF - - - - - - - -
Regular Growth 10.9852 10.1934 26.4301 22.3062 19.6279 17.2312 13.9709 10.5673
Regular IDCW - - - - - - - -
Regular IDCW 10.9851 10.1934 19.1827 17.7030 16.0087 17.2520 13.9879 10.5806
Direct IDCW - - 22.5028 20.2270 17.9389 18.5316 15.0201 11.3423
Direct Growth 11.0209 10.1967 28.9509 24.0795 20.8381 18.5140 15.0023 11.3315
Direct Bonus - - - - - - - -
Lowest
ETF
Regular Growth 10.0681 9.9120 16.9770 16.1695 17.1415 13.4909 9.8570 9.3085
Regular IDCW - - - - - - - -
Regular IDCW 10.0680 9.9121 13.2682 12.7468 13.9808 13.5072 9.8690 9.3202
620

Direct IDCW - - 15.2128 14.5928 15.6937 14.5078 10.5614 9.9450
Direct Growth 10.0742 9.9165 18.3576 17.4776 18.2324 14.4941 10.5509 9.9366
Direct Bonus - - - - - - - -
Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
621

Axis Midcap Fund Axis Focused 25 Fund Axis Small Cap Fund
No of Days 365 366 365 365 366 365 365 366 365
ETF - - - - - - - - -
Regular Growth 54.63 32.57 36.42 37.48 23.40 27.10 43.80 24.21 27.64
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 29.28 19.04 23.23 19.43 13.26 17.02 27.13 16.38 22.74
Retail Growth - - - - - - - - -
Direct IDCW 36.83 23.76 28.56 33.01 22.27 26.98 30.11 17.86 24.27
Direct Growth 60.41 35.53 39.20 41.41 25.54 29.23 47.94 26.04 29.32
Direct Bonus - - - - - - - - -
Income

0.34 0.40 0.40 0.21 0.30 0.26 0.26 0.30 0.55

investment to third party, per unit 0.07 0.70 2.28 2.32 2.53 (0.36) 0.59 0.61 5.92
(B)
scheme sales/transfer of 0.00 0.00 (0.00) $0.00 - $0.00 $0.00 - -
0.09 0.12 0.17 $0.00 $0.00 0.08 0.13 0.16 -
Gross Income (A+B+C= D) 0.41 1.10 2.68 2.53 2.82 (0.10) 0.84 0.92 6.47
Expenses (E)
0.57 0.43 0.61 0.47 0.41 0.46 0.42 0.25 0.87
Net Income (D-E = F) (0.15) 0.67 2.06 2.06 2.41 (0.57) 0.42 0.67 5.60
Net unrealised
appreciation/depreciation in value 16.50 (3.45) 4.86 7.49 (4.71) 2.14 11.63 (6.97) 3.35

1.51% 1.72% 2.30% 1.54% 1.74% 2.24% 1.41% 1.75% 2.63%
Assets
1.10% 4.42% 10.08% 8.33% 11.82% -(0.49)% 2.81% 6.36% 19.50%
Net Assets
Repurchase Price #
622

Highest
ETF - - - - - - - - -
Regular Growth 55.95 42.76 38.30 39.98 32.71 29.86 43.83 35.45 28.65
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 31.79 27.27 27.13 22.66 20.54 20.81 29.65 26.63 23.57
Retail Growth - - - - - - - - -
Direct IDCW 40.17 33.94 32.50 38.51 32.94 31.55 32.88 28.96 24.91
Direct Growth 61.84 46.59 40.95 44.13 35.68 31.95 47.94 38.05 30.10
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 31.75 30.17 32.03 22.01 21.66 24.49 23.34 23.12 24.46
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 18.56 17.64 21.50 12.47 12.27 16.37 15.79 15.64 20.13
Retail Growth - - - - - - - - -
Direct IDCW 23.17 22.01 26.40 20.97 20.63 25.91 17.22 17.05 21.39
Direct Growth 34.64 32.91 34.28 24.03 23.65 26.25 25.12 24.87 25.84
Direct Bonus - - - - - - - - -
623

Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 55.95 42.76 38.30 39.98 32.71 29.86 43.83 35.45 28.65
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 31.79 27.27 27.13 22.66 20.54 20.81 29.65 26.63 23.57
Retail Growth - - - - - - - - -
Direct IDCW 40.17 33.94 32.50 38.51 32.94 31.55 32.88 28.96 24.91
Direct Growth 61.84 46.59 40.95 44.13 35.68 31.95 47.94 38.05 30.10
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 31.75 30.17 32.03 22.01 21.66 24.49 23.34 23.12 24.46
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 18.56 17.64 21.50 12.47 12.27 16.37 15.79 15.64 20.13
Retail Growth - - - - - - - - -
Direct IDCW 23.17 22.01 26.40 20.97 20.63 25.91 17.22 17.05 21.39
Direct Growth 34.64 32.91 34.28 24.03 23.65 26.25 25.12 24.87 25.84
Direct Bonus - - - - - - - - -
624

Trading Price

unit.)
625

Axis Arbitrage Fund Axis Children's Gift Fund
Compulsory Lock-in No Lock-in Compulsory Lock-in No Lock-in Compulsory Lock-in No Lock-in
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in "000") 20,391,742 17,036,841 17,593,679 3,372,558 3,271,837 3,105,466
Avg Net asset (Rupees in "000") 28,108,435 25,681,868 21,002,983 4,867,189 4,329,087 3,871,490
No of Days 365 366 365 365 366 365
ETF - - - - - - - - -
Regular Growth 14.6501 14.2014 13.3796 17.0321 17.0303 11.5629 11.5615 12.9692 12.9676
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.6309 10.5043 10.4860 17.0417 17.0275 11.5692 11.5596 12.9762 12.9729
Retail Growth - - - - - - - - -
Direct IDCW 11.4131 11.2015 11.0452 18.4074 18.4100 12.3397 12.3400 13.6601 13.6600
Direct Growth 15.4427 14.8528 13.8988 18.4231 18.6173 12.3501 12.4647 13.6681 13.7814
Direct Bonus - - - - - - - - -
Income

0.24 0.46 0.40 0.32 0.41 0.39

investment to third party, per unit (2.45) 3.23 (0.37) 0.32 0.77 -
(B)
scheme sales/transfer of $(0.00) (0.01) (0.00) (0.00) (0.00) (0.03)
- - 0.16 - - -
Gross Income (A+B+C= D) (2.21) 3.69 0.03 0.64 1.17 0.73
Expenses (E)
0.08 0.09 0.08 0.06 0.06 0.06
Net Income (D-E = F) (2.29) 3.60 (0.06) 0.58 1.11 0.67
Net unrealised
appreciation/depreciation in value 0.85 (2.30) 0.34 0.70 (0.17) 0.26

0.59% 0.58% 0.71% 0.40% 0.45% 0.46%
Assets
-16.06% 24.47% 0.21% 4.43% 8.86% 5.86%
Net Assets
Repurchase Price #
626

Highest
ETF - - - - - - - - -
Regular Growth 14.6546 14.2012 13.3786 17.4169 17.4148 14.8598 14.8580 13.4618 13.4609
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.6342 10.5855 10.5249 17.0417 17.0275 14.8677 14.8613 13.4677 13.4664
Retail Growth - - - - - - - - -
Direct IDCW 11.4163 11.2336 11.0796 18.7991 18.8001 15.8316 15.8316 14.0579 14.0579
Direct Growth 15.4471 14.8581 13.8972 18.8151 19.0113 15.8439 15.9917 14.0624 14.1771
Direct Bonus - - - - - - - - -
- - - -
Lowest
ETF - - - - - - - - -
Regular Growth 14.1677 13.3657 12.6264 11.1869 11.1855 10.8186 10.8170 11.7248 11.7240
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.4342 10.4223 10.4368 17.0417 17.0275 10.8243 10.8153 11.7311 11.7288
Retail Growth - - - - - - - - -
Direct IDCW 11.1335 11.0349 10.8973 11.9404 11.9407 11.5425 11.5424 12.2785 12.2785
Direct Growth 14.8251 13.8857 13.0158 11.9505 12.0615 11.5523 11.6591 12.2844 12.3838
Direct Bonus - - - - - - - - -
627

Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 14.6546 14.2012 13.3786 17.4169 17.4148 14.8598 14.8580 13.4618 13.4609
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.6342 10.5855 10.5249 17.0417 17.0275 14.8677 14.8613 13.4677 13.4664
Retail Growth - - - - - - - - -
Direct IDCW 11.4163 11.2336 11.0796 18.7991 18.8001 15.8316 15.8316 14.0579 14.0579
Direct Growth 15.4471 14.8581 13.8972 18.8151 19.0113 15.8439 15.9917 14.0624 14.1771
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 14.1677 13.3657 12.6264 11.1869 11.1855 10.8186 10.8170 11.7248 11.7240
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.4342 10.4223 10.4368 17.0417 17.0275 10.8243 10.8153 11.7311 11.7288
Retail Growth - - - - - - - - -
Direct IDCW 11.1335 11.0349 10.8973 11.9404 11.9407 11.5425 11.5424 12.2785 12.2785
Direct Growth 14.8251 13.8857 13.0158 11.9505 12.0615 11.5523 11.6591 12.2844 12.3838
Direct Bonus - - - - - - - - -
628

Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A.

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
629

Axis Equity Saver Fund Axis Bluechip Fund Axis Long Term Equity Fund
No of Days 365 366 365 365 366 365 365 366 365
ETF - - - - - - - - -
Regular Growth 15.23 12.00 12.79 38.71 26.00 28.29 60.7641 38.5474 43.7586
Regular IDCW - - - - - - - - -
Regular Monthly IDCW 11.78 9.42 10.71 - - - - - -
Regular Quarterly IDCW 11.95 9.57 10.74 - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 12.59 10.63 12.42 17.01 12.48 15.05 23.4640 16.3234 20.3690
Retail Growth - - - - - - - - -
Direct IDCW 12.75 10.69 12.35 19.89 13.86 16.52 44.7280 30.0034 36.7359
Direct Growth 16.31 12.67 13.34 42.65 28.29 30.42 66.3498 41.7299 46.9800
Direct Monthly IDCW 12.63 9.97 11.16 - - - - - -
Direct Quarterly IDCW 12.85 10.13 11.21 - - - - - -
Direct Bonus - - - - - - - - -
Income

0.42 0.44 0.40 0.24 0.31 0.29 0.25 0.57 0.33

investment to third party, per unit (0.44) 1.81 0.17 0.33 (0.11) 0.78 3.69 3.29 1.75
(B)
scheme sales/transfer of 0.01 (0.01) $(0.00) $0.00 - $(0.00) $0.00 - $(0.00)
0.05 0.04 0.12 0.07 0.10 0.12 0.04 0.04 0.22
Gross Income (A+B+C= D) (0.01) 2.25 0.56 0.57 0.20 1.07 3.93 3.86 2.09
Expenses (E)
0.33 0.31 0.31 0.39 0.30 0.36 0.72 0.66 0.75
Net Income (D-E = F) (0.34) 1.94 0.25 0.18 (0.10) 0.70 3.22 3.20 1.33
Net unrealised
appreciation/depreciation in value 1.47 (1.88) 0.78 9.66 (1.73) 3.63 14.68 (3.15) 5.08

2.31% 2.33% 2.61% 1.38% 1.60% 2.13% 1.53% 1.62% 2.04%
Assets
(0.08)% 16.91% 4.73% 1.99% 1.08% 6.28% 8.37% 9.43% 5.65%
Net Assets
Repurchase Price #
630

Highest
ETF - - - - - - - - -
Regular Growth 15.5100 13.77 12.82 40.83 33.63 29.11 63.6270 52.3457 46.5110
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 13.74 13.37 12.45 19.59 17.89 17.05 26.9436 23.4417 24.2594
Retail Growth - - - - - - - - -
Direct IDCW 13.99 13.44 12.35 22.01 19.83 18.42 49.8960 42.5695 40.5084
Direct Growth 16.58 14.52 13.34 44.92 36.54 31.06 69.3997 56.6194 49.6369
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 11.62 11.34 11.83 24.52 23.48 24.49 36.2556 34.7754 38.5560
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.30 10.04 11.48 11.77 11.27 14.35 15.3529 14.7258 18.7475
Retail Growth - - - - - - - - -
Direct IDCW 10.36 10.10 11.33 13.08 12.52 15.53 28.2249 27.0665 33.6312
Direct Growth 12.28 11.97 12.20 26.68 25.54 26.19 39.2576 37.6463 41.2102
Direct Bonus - - - - - - - - -
631

Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 15.51 13.77 12.82 40.83 33.63 29.11 63.6270 52.3457 46.5110
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 13.74 13.37 12.45 19.59 17.89 17.05 26.9436 23.4417 24.2594
Retail Growth - - - - - - - - -
Direct IDCW 13.99 13.44 12.35 22.01 19.83 18.42 49.8960 42.5695 40.5084
Direct Growth 16.58 14.52 13.34 44.92 36.54 31.06 69.3997 56.6194 49.6369
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 11.62 11.34 11.83 24.52 23.48 24.49 36.2556 34.7754 38.5560
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.30 10.04 11.48 11.77 11.27 14.35 15.3529 14.7258 18.7475
Retail Growth - - - - - - - - -
Direct IDCW 10.36 10.10 11.33 13.08 12.52 15.53 28.2249 27.0665 33.6312
Direct Growth 12.28 11.97 12.20 26.68 25.54 26.19 39.2576 37.6463 41.2102
Direct Bonus - - - - - - - - -
632

Trading Price

unit.)
633

Axis Equity Advantage Fund - Series 1 Axis Capital Builder Fund - Series 4 (1582 Days) Axis Capital Builder Fund - Series 1 (1540 Days)
No of Days 365 366 365 365 366 101 365 366 365
ETF - - - - - - - - -
Regular Growth 14.84 11.15 11.39 14.20 8.70 10.57 13.73 8.39 10.05
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 14.20 8.70 10.57 13.73 8.39 10.05
Retail Growth - - - - - - - - -
Direct IDCW - - - 14.59 8.87 10.68 14.17 8.59 10.22
Direct Growth 15.57 11.60 11.73 14.50 8.81 10.62 14.17 8.59 10.22
Direct Bonus - - - - - - - - -
Income

0.22 0.27 0.30 0.11 0.16 0.10 0.15 0.23 0.22

investment to third party, per unit 1.56 0.01 0.16 0.35 (0.06) 0.06 (0.53) 0.27 (0.07)
(B)
scheme sales/transfer of $0.00 - (0.06) $0.00 $0.00 $0.00 $0.00 $0.00 (0.03)
- - - - - - - - -
Gross Income (A+B+C= D) 1.78 0.29 0.40 0.46 0.11 0.16 (0.38) 0.50 0.12
Expenses (E)
0.17 0.16 0.26 0.15 0.14 0.07 0.15 0.14 0.25
Net Income (D-E = F) 1.62 0.13 0.14 0.31 (0.04) 0.09 (0.53) 0.36 (0.13)
Net unrealised
appreciation/depreciation in value 2.92 0.85 1.21 3.84 (1.35) 0.48 4.00 (1.87) 0.16

1.30% 1.29% 2.29% 1.31% 1.31% 2.50% 1.32% 1.32% 2.54%
Assets
13.78% 2.37% 3.56% 4.01% 0.96% 5.79% -(3.38)% 4.82% 1.26%
Net Assets
Repurchase Price #
634

Highest
ETF - - - - - - - - -
Regular Growth 15.33 13.41 12.04 14.55 12.09 10.57 14.12 11.36 10.58
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 14.55 12.09 10.57 14.12 11.36 10.58
Retail Growth - - - - - - - - -
Direct IDCW - - - 14.93 12.30 10.68 14.57 11.62 10.66
Direct Growth 16.06 13.92 12.30 14.85 12.23 10.62 14.57 11.62 10.66
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 10.86 10.91 10.53 8.16 7.83 9.88 8.12 7.89 8.95
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 8.16 7.83 9.88 8.12 7.89 8.95
Retail Growth - - - - - - - - -
Direct IDCW - - - 8.31 7.97 9.96 8.31 8.08 9.04
Direct Growth 11.29 11.34 10.78 8.27 7.93 9.91 8.31 8.08 9.04
Direct Bonus - - - - - - - - -
635

Resale Price
Highest
ETF - - - - - - - - -
Regular Growth 15.33 13.41 12.04 14.55 12.09 10.57 14.12 11.36 10.58
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 14.55 12.09 10.57 14.12 11.36 10.58
Retail Growth - - - - - - - - -
Direct IDCW - - - 14.93 12.30 10.68 14.57 11.62 10.66
Direct Growth 16.06 13.92 12.30 14.85 12.23 10.62 14.57 11.62 10.66
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 10.86 10.91 10.53 8.16 7.83 9.88 8.12 7.89 8.95
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 8.16 7.83 9.88 8.12 7.89 8.95
Retail Growth - - - - - - - - -
Direct IDCW - - - 8.31 7.97 9.96 8.31 8.08 9.04
Direct Growth 11.29 11.34 10.78 8.27 7.93 9.91 8.31 8.08 9.04
Direct Bonus - - - - - - - - -
636

Trading Price

unit.)
637

Axis Dynamic Equity Fund Axis Flexicap Fund ^^^ Axis Gold ETF ^^
Unit Capital (Rupees in "000") 10,529,587 14,938,812 21,481,225 49,164,590 48,790,359 29,072,360 103,207 43,807 38,807
No of Days 365 366 365 365 366 365 365 366 365
ETF - - - - - - 38.37 3,841.55 2,787.04
Regular Growth 12.74 10.26 10.92 15.49 10.37 11.33 - - -

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.25 9.92 10.92 12.79 9.37 11.33 - - -
Retail Growth - - - - - - - - -
Direct IDCW 11.80 10.26 11.23 13.44 9.70 11.59 - - -
Direct Growth 13.44 10.68 11.23 16.31 10.76 11.59 - - -
Direct Bonus - - - - - - - - -
Income

0.33 0.40 0.39 0.10 0.16 0.20 0.02 15.64 11.21

(B)
scheme sales/transfer of 0.01 (0.01) (0.04) $(0.00) - (0.01) - - -
0.05 0.03 - 0.01 0.01 - - - -
Expenses (E)
0.29 0.27 0.28 0.23 0.17 0.22 0.15 15.20 34.04
Net Income (D-E = F) 1.25 0.77 0.22 0.91 0.95 (0.10) (0.11) 16.07 23.06
Net unrealised
appreciation/depreciation in value 1.15 (0.45) 0.61 2.98 (1.46) 1.28 1.82 1,018.09 99.67

2.09% 1.95% 2.35% 1.75% 1.85% 2.31% 0.53% 0.51% 1.11%
Assets
11.12% 7.47% 4.23% 8.53% 12.05% 1.25% 0.15% 1.05% 1.86%
Net Assets
Repurchase Price #
638

Highest
ETF - - - - - - 44.5034 3,936.6918 2,980.4674
Regular Growth 13.12 11.71 11.24 16.2600 13.86 11.68 - - -

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 12.68 11.32 11.24 14.69 13.86 11.68 - - -
Retail Growth - - - - - - - - -
Direct IDCW 13.28 11.70 11.45 15.4000 13.86 11.83 - - -
Direct Growth 13.83 12.18 11.45 17.0900 13.86 11.83 - - -
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - 38.3732 2,748.2385 2,604.6689
Regular Growth 9.96 9.69 10.20 9.8000 9.36 9.88 - - -

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 9.63 9.36 10.20 8.85 8.46 9.88 - - -
Retail Growth - - - - - - - - -
Direct IDCW 9.97 9.69 10.42 9.1700 8.76 10.04 - - -
Direct Growth 10.38 10.09 10.42 10.1700 9.72 10.04 - - -
Direct Bonus - - - - - - - - -
639

Resale Price
Highest
ETF - - - - - - 44.5034 3,936.6918 2,980.4674
Regular Growth 13.12 11.71 11.24 16.2600 13.38 11.68 - - -

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 12.68 11.32 11.24 14.69 13.38 11.68 - - -
Retail Growth - - - - - - - - -
Direct IDCW 13.28 11.70 11.45 15.4000 13.86 11.83 - - -
Direct Growth 13.83 12.18 11.45 17.0900 13.86 11.83 - - -
Direct Bonus - - - - - - - - -
Lowest
ETF 38.3732 2,748.2385 2,604.6689
Regular Growth 9.96 9.69 10.20 9.8000 9.36 9.88 - - -

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 9.63 9.36 10.20 8.85 8.46 9.88 - - -
Retail Growth - - - - - - - - -
Direct IDCW 9.97 9.69 10.42 9.1700 8.76 10.04 - - -
Direct Growth 10.38 10.09 10.42 10.1700 9.72 10.04 - - -
Direct Bonus - - - - - - - - -
640

Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. 46.17 3958.55 2969.50
Lowest N.A. N.A. N.A. N.A. N.A. N.A. 38.46 2760.2 2600.1
Closing N.A. N.A. N.A. N.A. N.A. N.A. 38.46 3852.80 2778.85

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A. (351.10) 239.76 120.49
unit.)
641

Axis Nifty ETF ^^ Axis Equity Hybrid Fund Axis Growth Opportunities Fund
Unit Capital (Rupees in "000") 23,220 6,220 6,220 12,207,241 14,889,748 21,955,139 16,700,513 9,602,451 6,522,293
Avg Net asset (Rupees in "000") 222,034 73,030 69,142 15,686,803 18,938,273 22,241,870 16,171,443 8,447,215 6,739,982
No of Days 365 366 365 365 366 235 365 366 161
ETF 152.82 - 1,186.3917 - - - - - -
Regular Growth - - - 13.02 8.97 10.08 15.93 9.43 10.64

Regular IDCW - - - - - - - - -
Regular Monthly IDCW - - - 12.54 8.92 10.08 - - -
Regular Quarterly IDCW - - - 12.78 8.97 10.08 - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 11.91 8.97 10.08 14.57 9.43 10.64
Retail Growth - - - - - - - - -
Direct IDCW - - - 12.40 9.21 10.19 15.19 9.68 10.73
Direct Growth - - - 13.55 9.20 10.19 16.62 9.68 10.73
Direct Monthly IDCW - - - 13.06 9.13 10.19 - - -
Direct Quarterly IDCW - - - 13.31 9.21 10.19 - - -
Direct Bonus - - - - - - - - -
Income

1.17 16.60 15.60 0.32 0.40 0.21 0.08 0.14 0.13

(B)
scheme sales/transfer of $0.00 - - $0.00 $0.00 (0.01) $0.00 - -
- - - - - - - - -
Gross Income (A+B+C= D) 3.92 33.46 28.52 1.41 1.44 $0.00 0.72 0.35 0.20
Expenses (E)
0.12 0.82 0.79 0.27 0.26 0.15 0.20 0.20 0.12
Net Income (D-E = F) 3.81 32.64 27.72 1.14 1.18 (0.15) 0.53 0.15 0.08
Net unrealised
appreciation/depreciation in value 37.85 -122.44 209.41 1.49 (1.74) 0.21 3.54 (1.21) 0.56

0.12% 0.07% 0.07% 2.09% 2.04% 2.34% 2.03% 2.29% 2.55%
Assets
4.10% 2.85% 2.57% 10.99% 11.31% 0.04% 7.46% 4.03% 4.39%
Net Assets
Repurchase Price #
642

Highest
ETF 1,160.5924 1,274.6543 1,190.0233 - - - - - -
Regular Growth - - - 13.57 11.61 10.08 16.37 12.65 10.66
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 13.57 11.61 10.08 16.37 12.65 10.66
Retail Growth - - - - - - - - -
Direct IDCW - - - 14.11 11.90 10.19 17.05 12.95 10.75
Direct Growth - - - 14.09 11.89 10.19 17.07 12.96 10.75
Direct Bonus - - - - - - - - -
Lowest
ETF 112.0349 786.9410 1,020.6931 - - - - - -
Regular Growth - - - 8.64 8.35 9.18 9.08 8.60 10.00
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 8.64 8.35 9.18 9.08 8.60 10.00
Retail Growth - - - - - - - - -
Direct IDCW - - - 8.87 8.57 9.22 9.32 8.82 10.00
Direct Growth - - - 8.86 8.56 9.22 9.32 8.83 10.00
Direct Bonus - - - - - - - - -
643

Resale Price
Highest
ETF 1,160.5924 1,274.6543 1,190.0233 - - - -
Regular Growth - - - 13.57 11.61 10.08 16.37 12.65 10.66

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 13.57 11.61 10.08 16.37 12.65 10.66
Retail Growth - - - - - - - - -
Direct IDCW - - - 14.11 11.90 10.19 17.05 12.95 10.75
Direct Growth - - - 14.09 11.89 10.19 17.07 12.96 10.75
Direct Bonus - - - - - - - - -
Lowest
ETF 112.0349 786.9410 1,020.6931
Regular Growth - - - 8.64 8.35 9.18 9.08 8.60 10.00

Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW - - - 8.64 8.35 9.18 9.08 8.60 10.00
Retail Growth - - - - - - - - -
Direct IDCW - - - 8.87 8.57 9.22 9.32 8.82 10.00
Direct Growth - - - 8.86 8.56 9.22 9.32 8.83 10.00
Direct Bonus - - - - - - - - -
644

Trading Price
Highest 122.86 1397.50 1193.60 N.A. N.A. N.A. N.A. N.A.
Lowest 112.32 944 1018.31 N.A. N.A. N.A. N.A. N.A.
Closing 153.50 1056.00 1181.50 N.A. N.A. N.A. N.A. N.A.

Trading Price/Net income per 40.32 32.35 42.62 N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
645

Axis Ultra Short Term Fund Axis Fixed Term Plan - Series 95 (1185 Days) Axis Fixed Term Plan - Series 96 (1124 Days)
Unit Capital (Rupees in "000") 40,401,810 24,595,974 11,063,668 907,011 907,011 907,011 464,926 464,926 464,926
Avg Net asset (Rupees in "000") 42,658,114 26,863,624 6,859,828 1,114,065 1,022,631 933,445 510,039 472,947 470,176
No of Days 365 366 203 365 366 271 365 366 210
ETF - - - - - - - - -
Regular Growth 11.6941 11.1870 10.4561 12.4974 11.6929 10.7343 11.4323 10.4944 10.3924
Regular IDCW - - - - - - - - -
Regular Daily IDCW 10.0689 10.0624 10.0283 - - - - - -
Regular Weekly IDCW 10.0694 10.0721 10.0741 - - - - - -
Regular Quarterly IDCW - - - 12.4972 11.6927 10.7342 11.4506 10.5021 10.3943
Regular Half Yearly IDCW - - - 12.5154 11.6999 10.7354 11.4353 10.4959 10.3926
Regular Bonus - - - - - - - - -
Regular IDCW 11.6939 11.1872 10.4561 12.5239 11.7040 10.7359 11.4323 10.4944 10.3924
Retail Growth - - - - - - - - -
Direct Regular IDCW 11.9665 11.3453 10.5048 - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.9632 11.3421 10.5044 12.6262 11.7674 10.7626 11.5169 10.5409 10.4078
Direct Daily IDCW 10.0338 10.0338 10.0288 - - - - - -
Direct Weekly IDCW 10.0526 10.0551 10.0756 - - - - - -
Direct Bonus - - - - - - - - -
Income

0.59 0.83 0.29 0.93 0.90 0.64 0.88 0.80 0.52

investment to third party, per unit (0.03) 0.01 $0.00 $0.00 - $0.00 0.03 (0.74) -
(B)
scheme sales/transfer of $0.00 $0.00 $(0.00) $0.00 - $(0.00) $0.00 - -
$0.00 $0.00 - - - - - - -
Expenses (E)
0.09 0.10 0.03 0.02 0.02 0.01 0.04 0.04 0.02
Net Income (D-E = F) 0.46 0.73 0.26 0.91 0.88 0.63 0.87 0.02 0.50
Net unrealised
appreciation/depreciation in value $0.00 (0.01) 0.02 0.17 0.23 0.12 0.08 (0.01) (0.10)

0.90% 0.93% 0.79% 0.18% 0.17% 0.18% 0.36% 0.36% 0.34%
Assets
5.29% 7.63% 8.47% 7.60% 8.02% 8.46% 8.31% 0.56% 8.96%
Net Assets
Repurchase Price #
646

Highest
ETF - - - - - - - - -
Regular Growth 11.6941 11.1870 10.4523 12.4974 11.6909 10.7301 11.4323 10.4942 10.3873
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.6939 11.1872 10.4523 12.5239 11.7021 10.7316 11.4323 10.4942 10.3873
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.9632 11.3421 10.5001 12.6262 11.7674 10.7582 11.5169 10.5409 10.4026
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 11.1885 10.4670 10.0000 11.6646 10.7291 9.9986 10.4029 9.8168 9.8833
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.1887 10.4669 10.0000 11.6761 10.7313 9.9987 10.4029 9.8168 9.8833
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.3462 10.5159 10.0000 11.7421 10.7603 9.9989 10.4514 9.8384 9.8851
Direct Bonus - - - - - - - - -
647

Resale Price
Highest
ETF - - - - - -
Regular Growth 11.6941 11.1870 10.4523 12.4974 11.6909 10.7301 11.4323 10.4942 10.3873
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.6939 11.1872 10.4523 12.5239 11.7021 10.7316 11.4323 10.4942 10.3873
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.9632 11.3421 10.5001 12.6262 11.7674 10.7582 11.5169 10.5409 10.4026
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 11.1885 10.4670 10.0000 11.6646 10.7291 9.9986 10.4029 9.8168 9.8833
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.1887 10.4669 10.0000 11.6761 10.7313 9.9987 10.4029 9.8168 9.8833
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.3462 10.5159 10.0000 11.7421 10.7603 9.9989 10.4514 9.8384 9.8851
Direct Bonus - - - - - - - - -
648

Trading Price

unit.)
649

Axis Fixed Term Plan - Series 97 (1116 Days) Axis Fixed Term Plan - Series 100 (1172 Days) Axis Fixed Term Plan - Series 101 (1154 Days)
Unit Capital (Rupees in "000") 3,405,882 3,405,882 3,405,882 221,541 221,541 221,541 267,800 267,800 267,800
Avg Net asset (Rupees in "000") 3,843,946 3,546,452 3,460,623 262,291 238,235 223,662 315,501 286,470 269,589
No of Days 365 366 202 365 366 69 365 366 47
ETF - - - - - - - - -
Regular Growth 11.7624 10.7925 10.4490 12.1830 11.2138 10.2472 12.1146 11.1520 10.1809
Regular IDCW - - - - - - - - -
Regular Half Yearly IDCW 11.7624 10.7925 10.4490 - - - 12.1150 11.1524 10.1808
Regular Bonus - - - - - - - - -
Regular IDCW 11.7857 10.8033 10.4517 12.1836 11.2144 10.2474 12.1149 11.1524 10.1809
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.8208 10.8243 10.4589 12.2498 11.2472 10.2521 12.1792 11.1835 10.1841
Direct Half Yearly IDCW 11.8285 10.8265 10.4599 - - - - - -
Direct Bonus - - - - - - - - -
Income

0.92 0.90 0.51 0.91 0.87 0.16 0.92 0.90 0.11

investment to third party, per unit 0.04 (0.57) - $0.00 - - (0.01) - $(0.00)
(B)
scheme sales/transfer of $0.00 - $(0.00) $0.00 - - $0.00 - -
- - - - - - - - -
Expenses (E)
0.05 0.05 0.02 0.03 0.02 $0.00 0.02 0.02 $0.00
Net Income (D-E = F) 0.91 0.28 0.48 0.88 0.85 0.15 0.88 0.87 0.11
Net unrealised
appreciation/depreciation in value 0.10 0.03 (0.03) 0.33 0.23 0.09 0.29 0.19 0.08

0.46% 0.46% 0.43% 0.23% 0.23% 0.24% 0.20% 0.20% 0.21%
Assets
8.55% 3.16% 9.01% 7.65% 8.13% 8.36% 7.71% 8.37% 8.51%
Net Assets
Repurchase Price #
650

Highest
ETF - - - - - - - - -
Regular Growth 11.7624 10.7924 10.4439 12.1830 11.2138 10.2431 12.1146 11.1597 10.1769
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.7857 10.8032 10.4466 12.1836 11.2144 10.2433 12.1149 11.1601 10.1769
Retail Growth - - - - - - - - -
Direct Regular IDCW - - - - - 10.0165 - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.8208 10.8243 10.4537 12.2498 11.2472 10.2478 12.1792 11.1892 10.1800
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Regular Growth 10.7228 10.0507 9.9237 11.1652 10.2365 9.9885 11.1030 10.1806 9.9907
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.7340 10.0546 9.9238 11.1657 10.2368 9.9885 11.1034 10.1807 9.9907
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 10.7560 10.0638 9.9245 11.1991 10.2431 9.9895 11.1351 10.1859 9.9911
Direct Bonus - - - - - - - - -
651

Resale Price
Highest
ETF - - - - - -
Regular Growth 11.7624 10.7924 10.4439 12.1830 11.2138 10.2431 12.1146 11.1597 10.1769
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 11.7857 10.8032 10.4466 12.1836 11.2144 10.2433 12.1149 11.1601 10.1769
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 11.8208 10.8243 10.4537 12.2498 11.2472 10.2478 12.1792 11.1892 10.1800
Direct Bonus - - - - - - - - -
Lowest
ETF
Regular Growth 10.7228 10.0507 9.9237 11.1652 10.2365 9.9885 11.1030 10.1806 9.9907
Regular IDCW - - - - - - - - -
Regular Bonus - - - - - - - - -
Regular IDCW 10.7340 10.0546 9.9238 11.1657 10.2368 9.9885 11.1034 10.1807 9.9907
Retail Growth - - - - - - - - -
Direct IDCW - - - - - - - - -
Direct Growth 10.7560 10.0638 9.9245 11.1991 10.2431 9.9895 11.1351 10.1859 9.9911
Direct Bonus - - - - - - - - -
652

Trading Price

unit.)
653

Axis Fixed Term Plan - Series 102 (1133 Days) Axis Fixed Term Plan - Series 104 (1112 Days) Axis Esg Equity Fund
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in "000") 318,872 318,872 318,872 889,872 889,872 889,872 14,008,219 17,222,770
Avg Net asset (Rupees in "000") 373,437 339,141 320,742 1,029,928 935,431 890,909 17,911,552 16,608,670
No of Days 365 366 26 365 366 4 365 49
ETF - - - - - - - -
Regular Growth 12.0462 11.0919 10.1202 11.8732 10.9694 10.0165 13.58 9.02
Regular IDCW - - - - - - - -
Regular Monthly IDCW - - - - - - - -
Regular Quarterly IDCW 12.0512 11.0934 10.1201 11.8732 10.9694 10.0165 - -
Regular Half Yearly IDCW - - - 11.8732 10.9694 10.0165 - -
Regular IDCW 12.0462 11.0919 10.1202 11.8732 10.9693 10.0165 13.58 9.02
Direct Regular IDCW - - - 11.9466 11.0027 10.0168 - -
Direct IDCW - - - - - - 13.83 9.04
Direct Growth 12.1087 11.1216 10.1220 11.9451 11.0027 10.0168 13.83 9.04
Direct Monthly IDCW - - - - - - - -
Direct Quarterly IDCW 12.1088 11.1208 10.1220 11.9483 11.0040 10.0168 - -
Direct Half Yearly IDCW - - - 11.9451 11.0025 10.0168 - -
Direct Bonus - - - - - - - -
Income

0.91 0.89 0.06 0.85 0.83 0.01 0.14 0.05

investment to third party, per unit $0.00 $0.00 - $0.00 $(0.00) - 1.14 -
(B)
scheme sales/transfer of $0.00 - - $0.00 (0.02) - $0.00 -
- - - - - - - -
Gross Income (A+B+C= D) 0.91 0.89 0.06 0.85 0.81 0.01 1.27 0.05
Expenses (E)
0.03 0.02 $0.00 0.01 0.01 0.00 0.26 0.03
Net Income (D-E = F) 0.88 0.86 0.06 0.83 0.80 0.01 1.02 0.03
Net unrealised
appreciation/depreciation in value 0.28 0.19 0.06 0.29 0.19 0.01 2.94 (1.02)
0.23% 0.23% 0.24% 0.13% 0.13% 0.13% 2.01% 2.02%
Assets
7.74% 8.35% 8.31% 7.32% 7.70% 7.41% 9.96% 4.21%
Net Assets
Repurchase Price #
654

Highest
ETF - - - - - - - -
Regular Growth 12.0462 11.0942 10.1163 11.8732 10.9694 10.0128 14.2800 10.1300
Regular IDCW - - - - - - - -
Regular IDCW 12.0462 11.0942 10.1163 11.8732 10.9693 10.0128 14.2800 10.1300
Direct IDCW - - - - - 14.5100 10.1300
Direct Growth 12.1087 11.1219 10.1180 11.9451 11.0027 10.0130 14.5100 10.1300
Direct Bonus - - - - - - - -
Lowest
ETF - - - - - - - -
Regular Growth 11.0409 10.1204 10.0000 10.9228 9.9870 10.0000 8.6100 8.1400
Regular IDCW - - - - - - - -
Regular IDCW 11.0409 10.1204 10.0000 10.9227 9.9870 10.0000 8.6100 8.1400
Direct IDCW - - - - - 8.6300 8.1500
Direct Growth 11.0712 10.1239 10.0000 10.9568 9.9894 10.0000 8.6300 8.1500
Direct Bonus - - - - - - - -
655

Resale Price
Highest
ETF - - - - - -
Regular Growth 12.0462 11.0942 10.1163 11.8732 10.9694 10.0128 14.2800 10.1300
Regular IDCW - - - - - - - -
Regular IDCW 12.0462 11.0942 10.1163 11.8732 10.9693 10.0128 14.2800 10.1300
Direct IDCW - - - - - - 14.5100 10.1300
Direct Growth 12.1087 11.1219 10.1180 11.9451 11.0027 10.0130 14.5100 10.1300
Direct Bonus - - - - - - - -
Lowest
ETF
Regular Growth 11.0409 10.1204 10.0000 10.9228 9.9870 10.0000 8.6100 8.1400
Regular IDCW - - - - - - - -
Regular IDCW 11.0409 10.1204 10.0000 10.9227 9.9870 10.0000 8.6100 8.1400
Direct IDCW - - - - - - 8.6300 8.1500
Direct Growth 11.0712 10.1239 10.0000 10.9568 9.9894 10.0000 8.6300 8.1500
Direct Bonus - - - - - - - -
656

Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Trading Price/Net income per N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
unit.)
657

Axis Global Equity Axis Special Axis Greater China Axis Technology
Axis Banking Etf
Alpha Fund Of Fund Situations Fund Equity Fund Of Fund Etf
As on As on As on As on As on
Face Value Rs.10/- Rs.100/- Rs.10/- Rs.10/- Rs.100/-
Unit Capital (Rupees in "000") 11,949,504 131,828 22,141,704 486,694 181,569
Avg Net asset (Rupees in "000") 12,972,110 573,021 22,820,919 347,969 463,050
No of Days 189 149 98 50 7
ETF - 332.91 - - 258.47

Regular Growth 11.57 - 10.33 9.07 -
Regular IDCW - - - - -
Regular Daily IDCW - - - - -
Regular Weekly IDCW - - - - -
Regular Monthly IDCW - - - - -
Regular Quarterly IDCW - - - - -
Regular Half Yearly IDCW - - - - -
Regular Annual IDCW - - - - -
Regular Bonus - - - - -
Regular IDCW 11.57 - 10.33 9.07 -
Retail Growth - - - - -
Retail Daily IDCW - - - - -
Retail Weekly IDCW - - - - -
Retail Monthly IDCW - - - - -
Direct Regular IDCW - - - - -
Direct IDCW 11.65 - 10.38 9.08 -
Direct Growth 11.65 - 10.38 9.08 -
Direct Daily IDCW - - - - -
Direct Weekly IDCW - - - - -
Direct Monthly IDCW - - - - -
Direct Quarterly IDCW - - - - -
Direct Half Yearly IDCW - - - - -
Direct Annual IDCW - - - - -
Direct Bonus - - - - -
Income

0.04 0.29 0.04 0.01 0.07

investment to third party, per unit $0.00 67.40 0.01 0.00 (2.01)
(B)
scheme sales/transfer of $0.00 $0.00 $0.00 $0.00 -
- - - - -
658

Axis Banking Etf
Gross Income (A+B+C= D) 0.04 67.69 0.04 0.01 (1.94)
Expenses (E)
0.09 0.28 0.05 0.01 0.01
Net Income (D-E = F) (0.05) 67.41 (0.01) $0.00 (1.95)
Net unrealised
appreciation/depreciation in value 1.64 67.39 0.34 (0.65) 2.92
1.56% 0.16% 1.98% 1.08% 0.22%
Assets
0.70% 38.15% 1.51% 1.40% -3(9.70)%
Net Assets
Repurchase Price #
Highest
ETF - 372.0916 - - 258.4725
Regular Growth 11.5722 - 10.8600 10.0200 -

Regular IDCW 11.5722 - 10.8600 10.0200 -
Direct IDCW 11.6482 - 10.8900 10.0200 -
Direct Growth 11.6484 - 10.8900 10.0200 -
659

Axis Banking Etf
Lowest
ETF - 274.7337 - - 258.4725
Regular Growth 9.7621 - 9.9000 8.7500 -

Regular IDCW 9.7621 - 9.9000 8.7500 -
Direct IDCW 9.7746 - 9.9200 8.7600 -
Direct Growth 9.7747 - 9.9200 8.7600 -
Resale Price
Highest
ETF - 372.0916 - - 258.4725
Regular Growth 11.5722 - 10.8600 10.0200 -

Regular IDCW 11.5722 - 10.8600 10.0200 -
660

Axis Banking Etf
Direct IDCW 11.6482 - 10.8900 10.0200 -
Direct Growth 11.6484 - 10.8900 10.0200 -
Lowest
ETF 274.7337 258.4725
Regular Growth 9.7621 - 9.9000 8.7500 -

Regular IDCW 9.7621 - 9.9000 8.7500 -
Direct IDCW 9.7746 - 9.9200 8.7600 -
Direct Growth 9.7747 - 9.9200 8.7600 -
661

Axis Banking Etf
Trading Price
Highest N.A. 372.68 N.A. N.A. 274.91
Lowest N.A. 272.13 N.A. N.A. 274.91
Closing N.A. 334.55 N.A. N.A. 274.91

Trading Price/Net income per N.A. 4.96 N.A. N.A. (140.81)
unit.)
^ The net asset value disclosed above represents the computed/declared NAV as on balance sheet date.
^^^ Pursuant to SEBI Circular No. SEBI/HO/IMD/DF3/CIR/P/2020/228 dated November 06, 2020 & notice cum addendum dated December 22, 2020, name of the scheme has been changed w.e.f. January
30, 2021.
^^ Axis MF had issued addendum dated July 9, 2020 regarding reduction in face value in case of Axis Gold ETF – from INR 100 per unit to INR 1 per unit and in case of Axis Nifty ETF - from INR 100 per
unit to INR 10 per unit. The addendum also provided for change in unit creation size in case of Axis Gold ETF – from 1,000 units to 1,00,000 units and in case of Axis Nifty ETF – from 5,000 units to
50,000 units, effective from end of business day on July 24, 2020. These changes were given effect to in the NAVs of Axis Gold ETF and Axis Nifty ETF on July 27, 2020.
$ Amount less than Rs. 0.005.
Pursuant to SEBI circular no. SEBI/IMD/CIR No.7/104753/07 dated September 26, 2007, the details of charging of expenses (as prescribed under Regulation 52(6)) by the schemes investing into Overseas
Mutual Fund Units are as follows :
Overseas Investment Details Total Expense Ratio (Base TER)
Limit as
Name of Scheme Type of Investment prescribed Domestic Overseas
ISIN Security Name Mutual Fund Mutual Fund
under
regulation 52(6) Scheme Scheme
Axis Global Equity Alpha Units of Overseas Mutual Fund LU2225036040 Schroder ISF Global Equity Alpha Class X1 Acc 2.25% 1.50% 0.75%
Fund of Fund
Axis Greater China Equity - Units of Overseas Mutual Fund LU2289884996 Schroder ISF Greater China Class X Acc 2.25% 1.50% 0.75%
Fund of Fund
662
RISKOMETER AT THE END OF THE FINANCIAL YEAR
RISKOMETER
This product is suitable for investors who are seeking*:
Axis Banking ETF (An Open Ended scheme replicating / tracking NIFTY Bank Index) Axis Growth Opportunities Fund (An Open-ended Equity Scheme investing in both large cap
• Long term wealth creation solution. and mid cap stocks)
• An index fund that seeks to track returns by investing in a basket of NIFTY Bank Index stocks • Capital appreciation over long term.
and aims to achieve returns of the stated index, subject to tracking error. • Investment in a diversified portfolio predominantly consisting of equity and equity related
instruments both in India as well as overseas.
Axis Capital Builder Fund - Series 1 (1540 Days) (A close ended equity scheme investing
across large cap, mid cap, small cap stocks) Axis Midcap Fund (An open ended equity scheme predominantly investing in mid cap stocks)
• Capital appreciation over long term. • Capital appreciation over long term.
• Investment in a diversified portfolio of predominantly equity and equity related instruments • Investing predominantly in equity & equity related instruments of Mid Cap companies.
across market capitalisation.
Axis Flexi Cap Fund (An open ended dynamic equity scheme investing across large cap, mid
Axis Capital Builder Fund - Series 4 (1582 Days) (A close ended equity scheme investing cap, small cap stocks)
across large cap, mid cap and small cap stocks) • Capital appreciation over medium to long term.
• Capital appreciation over long term. • Investment in a dynamic mix of equity and equity related instruments across market
• Investment in a diversified portfolio of predominantly equity and equity related instruments capitalization.
across market capitalisation.
Axis NIFTY ETF (An open ended Scheme replicating/ tracking Nifty 50 Index)
Axis Dynamic Equity Fund (An open ended dynamic asset allocation fund) • Capital appreciation over medium to long term.
• Capital appreciation and generating income over medium to long term. • Investments in Equity & Equity related instruments covered by Nifty 50 Index
• Investment in equity and equity related instruments as well as debt and money market
instruments while managing risk through active asset allocation. Axis Nifty 100 Index Fund (An Open Ended Index Fund tracking the NIFTY 100 Index)
• Long term wealth creation solution.
Axis Equity Advantage Fund - Series 1 (A Close Ended Equity Scheme) • An index fund that seeks to track returns by investing in a basket of Nifty 100 Index stocks
• Capital appreciation over medium to long term. and aims to achieve returns of the stated index, subject to tracking error.
• Investment in a diversified portfolio of predominantly equity and equity related instruments
across market cap while managing risk through active hedging strategies. Axis Retirement Savings Fund - Aggressive Plan (An open-ended retirement solution
oriented scheme having a lock -in of 5 years or till retirement age (whichever is earlier))
Axis Bluechip Fund (An open ended equity scheme predominantly investing in large cap stocks) • Capital appreciation over long term.
• Capital appreciation over long term. • Investment primarily in equity and equity related instruments.
• Investment in a diversified portfolio predominantly consisting of equity and equity related
instruments of large cap companies. Axis Retirement Savings Fund - Dynamic Plan (An open-ended retirement solution oriented
scheme having a lock -in of 5 years or till retirement age (whichever is earlier))
Axis ESG Equity Fund (An open-ended equity scheme investing in companies demonstrating • Capital appreciation and income generation over long term.
sustainable practices across Environment, Social and Governance (ESG) theme) • Investment in equity and equity related instruments as well as debt and money market
• Capital appreciation over long term. instruments while managing risk through active asset allocation.
• Investments in companies demonstrating sustainable practices across Environment, Social
and Governance (ESG) parameters. Axis Small Cap Fund (An open-ended equity scheme predominantly investing in small cap stocks)
• Capital appreciation over long term.
Axis Focused 25 Fund (An open ended equity scheme investing in maximum 25 stocks • Investment in a diversified portfolio predominantly equity and equity related instruments of
investing in large cap, mid cap and small cap companies) small cap companies
• Investment in a concentrated portfolio of equity & equity related instruments of up to 25 Axis Special Situations Fund (An open ended equity scheme following special situations theme)
companies.
• Investment in stocks based on special situations theme.
Axis Greater China Equity Fund Of Fund (An open ended fund of fund scheme investing in
Schroder International Selection Fund Greater China)
• Investment in Schroder International Selection Fund Greater China, a fund that aims to Moderate
Moderately
provide capital growth by investing in equity and equity related securities of People's High
Republic of China, Hong Kong SAR and Taiwan companies. Low to
Moderate High
Axis Global Equity Alpha Fund Of Fund (An open ended fund of fund scheme investing in
Schroder International Selection Fund Global Equity Alpha) Low Very High
• Investment in Schroder International Selection Fund Global Equity Alpha, an equity fund that RISKOMETER
aims to provide capital growth by investing in equity and equity related securities of
companies worldwide. Investors understand that their principal
will be at very high risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
663
RISKOMETER AT THE END OF THE FINANCIAL YEAR (CONTD.)
RISKOMETER
Axis Triple Advantage Fund (An open ended scheme investing in equity, debt and gold) Axis Children's Gift Fund (An open ended fund for investment for children, having a lock-in of 5
• Capital appreciation & generating income over long term. years or till the child attains age of majority (whichever is earlier))
• Investment in a diversified portfolio of equity and equity related instruments, fixed income • Capital appreciation & generating income over long term.
instruments & gold Exchange Traded Funds. • Investment in debt and money market instruments as well as equity and equity related
instruments.
Axis Technology ETF (An Open Ended Exchange Traded Fund tracking NIFTY IT Index)
• Long term wealth creation solution.
• The fund that seeks to track returns by investing in a basket of NIFTY IT Index stocks and
aims to achieve returns of the stated index, subject to tracking error.
Moderately
Moderate
High
Axis Long Term Equity Fund (An open ended equity linked saving scheme with a statutory lock Low to
in of 3 years and tax benefit) Moderate High
• Capital appreciation & generating income over long term.

• Investment in a diversified portfolio predominantly consisting of equity and equity related
Low Very High
instruments.
RISKOMETER
Axis Equity Hybrid Fund (An Open ended hybrid scheme investing predominantly in equity and
equity related instruments) Investors understand that their principal
• Capital appreciation along with generation of income over medium to long term. will be at very high risk
• Investment in equity and equity related instruments as well as debt and money market
instruments.
Axis Fixed Term Plan - Series 100 (1172 Days) (A close ended debt scheme) Axis Gilt Fund (An open ended debt scheme investing in government securities across maturity)
• Optimal returns over 1172 Days. • Credit risk free returns over medium to long term.
• Investment in debt, money market instruments maturing on or before the maturity of the • Investment mainly in Government securities across maturities.
scheme.
Axis Fixed Term Plan - Series 95 (1185 Days) (A close ended debt scheme)
Axis Fixed Term Plan - Series 101 (1154 Days) (A close ended debt scheme) • Optimal returns over medium to long term.
• Optimal returns over 1154 Days. • Investment in debt and money market instruments maturing on or before the maturity of the
• Investment in debt, money market instruments maturing on or before the maturity of the scheme.
scheme.
Axis Treasury Advantage Fund (An open ended low duration debt scheme investing in
Axis Fixed Term Plan - Series 102 (1133 Days) (A close ended debt scheme) instruments such that the Macaulay duration of the portfolio is between 6 to 12 months)
• Optimal returns over 1133 Days. • Regular income over short term.
• Investment in debt, money market instruments maturing on or before the maturity of the • Investment in debt and money market instruments.
scheme.
Axis Short Term Fund (An open ended short term debt scheme investing in instruments such
Axis Fixed Term Plan - Series 104 (1112 Days) (A close ended debt scheme) that the Macaulay duration of the portfolio is between 1 year to 3 years)
• Optimal returns over 1112 Days. • Regular income while maintaining liquidity over short term.
• Investment in debt, money market instruments maturing on or before the maturity of the • Investment in debt and money market instruments.
scheme.
Axis Banking & PSU Debt Fund An open ended debt scheme predominantly investing in debt
instruments of Banks, Public Sector Undertakings & Public Financial Institutions
• Regular income over short to medium term. Moderately
Moderate
High
• Investment in debt and money market instruments issued by Banks, PFIs & PSUs. Low to
Moderate High
Axis Corporate Debt Fund (An open ended debt scheme predominantly investing in AA+ and
above rated corporate bonds)
Low Very High
• Regular income over short to medium term.
• Predominantly investing in corporate debt.
RISKOMETER
Axis Liquid Fund (An Open ended Liquid Scheme) Investors understand that their principal
• Regular income over short term will be at low to moderate risk
• Investment in debt and money market instruments
664
RISKOMETER
Axis Equity Saver Fund (An open-ended scheme investing in equity, arbitrage and debt) Axis Fixed Term Plan - Series 96 (1124 Days) (A close ended debt scheme)
• Capital appreciation while generating income over medium to long term. • Optimal returns over 1124 Days.
• Provide capital appreciation and income distribution to the investors by using equity and • Investment in debt and money market instruments maturing on or before the maturity of the
equity related instruments, arbitrage opportunities, and investments in debt and money scheme.
market instruments.
Axis Fixed Term Plan - Series 97 (1116 Days) (A close ended debt scheme)
Axis Gold ETF (An open ended scheme replicating/tracking Domestic Price of Gold) • Optimal returns over 1116 Days.
• Capital appreciation over medium to long term. • Investment in debt and money market instruments maturing on or before the maturity of the
• Invests predominantly in gold in order to generate returns similar to the performance of gold, scheme.
subject to tracking error.
Axis All Seasons Debt Fund Of Funds (An open-ended fund of funds scheme investing in debt
Axis Gold Fund (An open ended fund of fund scheme investing in Axis Gold ETF) oriented mutual fund schemes)
• Capital Appreciation over medium to long term. • To generate optimal returns over medium term.
• Invests predominantly in Axis Gold ETF in order to generate returns similar to the underlying • Investment primarily in debt oriented mutual fund schemes.
fund, subject to tracking error.
Axis Strategic Bond Fund (An open ended medium term debt scheme investing in instruments
such that the Macaulay duration of the portfolio is between 3 years to 4 years) Moderately
Moderate
• Optimal returns over medium term. High
Low to
• Investment in diversified portfolio of debt and money market securities to generate optimal Moderate High
risk adjusted returns while maintaining liquidity.
Axis Regular Saver Fund (An open ended hybrid scheme investing predominantly in debt Low Very High
instruments)
• Capital appreciation while generating income over medium to long term. RISKOMETER
• Investment in debt and money market instruments as well as equity and equity related
instruments. Investors understand that their principal
will be at moderately high risk
Axis Dynamic Bond Fund (An open ended dynamic debt scheme investing across duration) Axis Arbitrage Fund (An open ended scheme investing in arbitrage opportunities)
• Optimal returns over medium to long term. • Income over short to medium term.
• To generate stable returns while maintaining liquidity through active management of a • Investment in arbitrage opportunities in the cash & derivatives segment of the equity market
portfolio of debt and money market instruments.
Axis Overnight Fund (An open ended debt scheme investing in overnight securities)
Axis Money Market Fund (An open ended debt scheme investing in money market • Regular income with high levels of safety and liquidity over short term.
instruments) • Investment in debt and money market instruments with overnight maturity.
• Regular income over short term.
• Investment in Money Market instruments with maturity up to one year.
Axis Ultra Short Term Fund (An open ended ultra-short term debt scheme investing in Moderate
Moderately
instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months) High
Low to
• Regular income over short term. Moderate High
• Investment in Debt & Money Market instruments such that the Macaulay duration of the
portfolio is between 3 months - 6 months.
Low Very High
RISKOMETER
Moderately
Moderate
High
Investors understand that their principal
Low to
Moderate High will be at low risk
Low Very High
RISKOMETER
Investors understand that their principal

will be at moderate risk
665
RISKOMETER
Axis Credit Risk Fund (An open ended debt scheme predominantly investing in AA and below
rated corporate bonds (excluding AA+ rated corporate bonds))
Moderately
• Stable returns in the short to medium term Moderate
High
• Investment in debt and money market instruments across the yield curve and credit Low to
Moderate High
spectrum.
Axis Retirement Savings Fund - Conservative Plan (An open-ended retirement solution Low Very High
oriented scheme having a lock -in of 5 years or till retirement age (whichever is earlier)
• Capital appreciation and income generation over long term.
RISKOMETER
• Investments in debt and money market instruments as well as equity and equity related
instruments. Investors understand that their principal
will be at high risk
666
RISKOMETER
AXIS HYBRID FUND - SERIES 5 (1346 DAYS) (Close ended debt scheme(s)) Axis Hybrid Fund - Series 35 (1359 Days) (Close ended debt scheme(s))
• Capital appreciation while generating income over medium to long term • Capital appreciation while generating income over medium to long term
• Investment in debt and money market instruments as well as equity and equity related • Investment in debt and money market instruments as well as equity and equity related
instruments. instruments
AXIS HYBRID FUND - SERIES 6 (1324 DAYS) (Close ended debt scheme(s)) Axis Emerging Opportunities Fund - Series 1 (1400 Days) (Close Ended Equity Scheme)
• Capital appreciation while generating income over medium to long term. • Capital appreciation over long term.
• Investment in debt and money market instruments as well as equity and equity related • Investment in a diversified portfolio of equity and equity related instruments of midcap
instruments. companies.
AXIS HYBRID FUND - SERIES 7 (1305 DAYS) (Close ended debt scheme(s)) Axis Emerging Opportunities Fund - Series 2 (1400 Days) (Close Ended Equity Scheme)
• Capital appreciation while generating income over medium to long term. • Capital appreciation over long term.
• Investment in debt and money market instruments as well as equity and equity related • Investment in a diversified portfolio of equity and equity related instruments of midcap
instruments. companies.
Axis Hybrid Fund - Series 31 (1381 Days) (Close ended debt scheme(s)) Axis Equity Advantage Fund - Series 2 (A Close Ended Equity Scheme)
• Capital appreciation while generating income over medium to long term • Capital appreciation over medium to long term.
• Investment in debt and money market instruments as well as equity and equity related • Investment in a diversified portfolio of predominantly equity and equity related instruments
instruments across market cap while managing risk through active hedging strategies.
Axis Hybrid Fund - Series 32 (1367 Days) (Close ended debt scheme(s)) M
ely Moderate ode
• Capital appreciation while generating income over medium to long term e rat Hig rate
d
• Investment in debt and money market instruments as well as equity and equity related Mo Low h ly
instruments
High
Low
Axis Hybrid Fund - Series 33 (1358 Days) (Close ended debt scheme(s))
• Capital appreciation while generating income over medium to long term LOW HIGH
• Investment in debt and money market instruments as well as equity and equity related Investors understand that their principal will be at moderately high risk
instruments
Note: The above Schemes matured during FY 2020-21, prior to implementation of revised methodology issued by SEBI for Product labelling in Mutual Fund Schemes – Riskometer vide its circular dated
October 5, 2020. The Riskometers provided herein are based on Scheme Information Document of respective Schemes on the date of maturity.
667
Axis Asset Management Company Limited (Investment Manager to Axis Mutual Fund)
Axis House, 1st Floor, C-2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400025, India.
Toll Free: 1800 221322 Additional Contact Number: 8108622211. E-mail: customerservice@axismf.com
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.

Axis Mutual Fund Annual Report 2020-21

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Axis Mutual Fund Annual Report 2020-21

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TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

Risk-o-meter level Risk-o-meter level Number of changes in Risk-o-meter

TRUSTEE REPORT (Contd.)

For Axis Mutual Fund Trustee Limited

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

^ Schemes launched during the F.Y. 2020-21

ROLE OF MUTUAL FUNDS IN CORPORATE GOVERNANCE OF PUBLIC LISTED COMPANIES

VOTING POLICY OF AXIS MUTUAL FUND

a. Corporate governance matters, including changes in the state of incorporation,

b. Changes to capital structure, including increases and decreases of capital and

c. Stock option plans and other management compensation issues;

d. Social and corporate responsibility issues;

e. Appointment and Removal of Directors;

12. Whenever there is a change in Auditors, Independent Directors, key management

Axis Asset Management Company Limited

Reporting on Discharging of Stewardship Responsibility – Axis Mutual Fund

Institutional Investors should formulate a comprehensive policy on the discharge of their

Compliance Status : Complied with

Compliance Status : Complied with

Institutional investors should monitor their investee companies

Compliance Status : Complied with

Compliance Status : Complied with

Compliance Status : Complied with

Institutional investors should report periodically on their stewardship activities.

Compliance Status : Complied with

B S R & Co. LLP

Independent Auditor’s Report

To the Trustees of Axis Mutual Fund

Basis for Opinion

Independent Auditor’s Report (continued)

Report on Other Legal and Regulatory Requirements

Independent Auditor’s Report (continued)

For B S R & Co. LLP

B S R & Co. LLP

Independent Auditor’s Report

To the Trustees of Axis Mutual Fund

Basis for Opinion

Independent Auditor’s Report (continued)

Report on Other Legal and Regulatory Requirements

Independent Auditor’s Report (continued)

For B S R & Co. LLP

B S R & Co. LLP

Independent Auditor’s Report

To the Trustees of Axis Mutual Fund

Basis for Opinion

Independent Auditor’s Report (continued)

Report on Other Legal and Regulatory Requirements

Independent Auditor’s Report (continued)

For B S R & Co. LLP

B S R & Co. LLP

Independent Auditor’s Report

To the Trustees of Axis Mutual Fund