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Axis Mutual Fund schemes top returns charts across categories

The schemes of the fund house have thrived on conviction bets.

Oct 16, 2019, 10.05 AM IST
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It’s a rarity in the mutual fund industry for a fund house to have best performing schemes across almost all the categories. Axis Mutual Fund has achieved this feat. Its schemes have outperformed peers and the benchmark indices over the one-year and three-year periods by 5-12% across large cap, multi cap, blue chip and small cap categories.

The schemes of the fund house have thrived on conviction bets. “These conviction bets are on sectoral leaders and companies with sound business plans which fall a little less than their smaller peers in volatile markets,” Rupesh Bhansali, head-mutual funds, GEPL Capital, a brokerage which also distributes mutual funds.

Jinesh Gopani, head, equities at Axis Mutual Fund, said, “In 2016, we struggled to make it to the list of the best performing schemes. Then, we focused on companies which had not only been profitable but also had ability to scale up operations. While selecting such companies, we looked at corporate governance, remuneration policy, and companies which were able to clean up their balance sheet from high debt.”

According to Gopani, a company recording revenue growth of 25% when the GDP growth was 7% can at least grow by 22% when the GDP falls to 5%. “This gives some assurance for a fund manager,” he said. Among the stocks which have paid off for the fund house are PI Industries, Bajaj Finance and Avenue Supermarts.
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