Axis Innovation Fund Direct Growth

Equity
Direct
Equity - Other
Axis Innovation Fund Direct Growth

About the Fund

Axis Innovation Fund Direct Growth is an equity fund. This fund was started on 18 December, 2020. The fund is managed by Ashish Naik. The fund could potentially beat inflation in the long-run.

Key Parameters

  1. Axis Innovation Fund Direct Growth has ₹1271 Cr worth of assets under management (AUM) as on Jun 2024 and is less than category average.
  2. The fund has an expense ratio 1.3.

Returns

Axis Innovation Fund Direct Growth has given a CAGR return of 18.55% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 33.43% and 15.99% respectively.

Holdings

Axis Innovation Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech, Industrial, Consumer Cyclical, Basic Materials, Communication, Health, Utilities, Consumer Defensive, Energy. Its top holdings are ICICI Bank Ltd, Info Edge (India) Ltd, Linde India Ltd, Torrent Power Ltd, Zomato Ltd

Taxation

As it is a equity - other mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 15%
For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefit
Dividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.

Investment objective of Axis Innovation Fund Direct Growth

To generate long term capital appreciation by investing in equity & equity related securities of companies that are benefiting from innovative change (innovators, enablers, adaptors).

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 100.00 and for SIP is INR 100.00. Axis Innovation Fund Direct Growth has no lock in period.

Fund Performance
zero opening, trading, fund transfer fee
393 people have invested ₹ 20.7L in Axis Innovation Fund Direct Growth in the last three months

INDmoney Rank

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3Y returns in the bottom 25% of the category

Fund Overview

Expense ratio1.28%
Benchmark
IISL Nifty 500 TR INR
AUM₹1271 Cr
Inception Date18 December, 2020
Min Lumpsum/SIP₹100/₹100
Exit Load
1%
Lock InNo Lock-in
TurnOver
17.9%
Risk
Risk meter
pointer
Very High Risk

Fund Distribution
as on (30-Jun-24)

  • Equity 98.5%

  • Debt & Cash 1.5%

Large cap
35.1%

Mid cap
30.2%

Small cap
12.8%

Sector Allocation

Jun'24

May'24

Apr'24

Financial Services
17%
Tech
16.7%
Industrial
15.7%
Consumer Cyclical
14.2%
Basic Materials
11%
Communication
8.4%
Health
6.6%
Utilities
4.4%
Consumer Defensive
3.2%
Energy
2.9%
All changes are between Apr'24 and Jun'24

Returns for the month of Jun

  • Gainers

  • Losers

Top Growth Drivers
1M Return
Info Edge (India) Ltd
Info Edge (India) Ltd
8.7%
TBO Tek Ltd
8.3%

Ashish Naik
Ashish Naik
Fund Manager of Axis Innovation Fund Direct Growth, since 24 December 2020

Axis Innovation Fund Direct Growth Highlights

Risk meter
pointer

Very High Risk

Investors understand that their principal will be at Very High Risk
About the fund

About the fund

This fund has delivered an average annual returns of 18.55% since inception which is less than its category average return of 24.4%
Fund Allocations

Fund Allocations

This fund has an allocation of 98.54% in Equity, 0% in Debt and 1.46% in Cash related instruments
AUM size ₹1271 Cr

AUM size ₹1271 Cr

This fund has AUM of ₹1271 Cr which is less than its category average of ₹ 2226 Cr
Expense Ratio 1.28%

Expense Ratio 1.28%

This fund has an expense ratio of 1.28% which is more than its category average expense ratio of 1.24%

Frequently Asked Questions

The current NAV of Axis Innovation Fund Direct Growth is ₹18.4 as on 19-Jul-2024.
Existing (Absolute + CAGR) as on 19-Jul-2024.
Axis Innovation Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
0.22%
0.22%
6 Month Returns
21.94%
21.94%
1 Year Returns
33.43%
33.43%
3 Years Returns
56.06%
15.99%
5 Years Returns
0%
0%
With INDmoney, the process of investing is very simple and involves zero commission.
  • Click Buy on the fund name.
  • Input the amount you are looking to invest.
  • Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
  • Select your bank account and proceed with Payment.
1.28% as on June 2024
₹1271 Cr as on June 2024
ICICI Bank Ltd(4.63%), Info Edge (India) Ltd(3.9%), Linde India Ltd(3.19%), Torrent Power Ltd(3.09%), Zomato Ltd(3.07%) as on June 2024
Financial Services(16.76%), Tech(16.42%), Industrial(15.44%) as on June 2024
The alpha ratio for the Axis Innovation Fund Direct Growth for various period is as follows:
Fund Name
Alpha 1 Year
Alpha 3 Years
Alpha 5 Years
Axis Innovation Fund Direct Growth
7.26
-1.14
-
As on June 2024
The alpha for Axis Innovation Fund Direct Growth is calculated against IISL Nifty 500 TR INR. Higher alpha indicates that this fund has generated extra returns compared to the benchmark index. An alpha of 1.0 means the fund has outperformed its benchmark index by 1%.
The Beta ratio for the Axis Innovation Fund Direct Growth for various period is as follows:
Fund Name
Beta 1 Year
Beta 3 Years
Beta 5 Years
Axis Innovation Fund Direct Growth
0.72
0.91
-
As on June 2024
The Beta for Axis Innovation Fund Direct Growth is calculated with IISL Nifty 500 TR INR. Beta tells the volatility of the mutual fund relative to its benchmark. If the beta of a mutual fund is more than 1, then the mutual fund is more volatile than its benchmark. If beta is less than 1, then the mutual fund is less volatile than the benchmark.
The sharpe ratio for the Axis Innovation Fund Direct Growth for various period is as follows:
Fund Name
Sharpe Ratio 1 Year
Sharpe Ratio 3 Years
Sharpe Ratio 5 Years
Axis Innovation Fund Direct Growth
2.6
0.81
-
As on June 2024
The sharpe ratio for Axis Innovation Fund Direct Growth is calculated with IISL Nifty 500 TR INR. Sharpe ratio tells risk-adjusted-returns of the mutual fund. The higher a fund's Sharpe ratio, the better a fund's returns have been relative to the risk it has taken on.
The standard deviation for the Axis Innovation Fund Direct Growth for various period is as follows:
Fund Name
Standard Deviation 1 Year
Standard Deviation 3 Years
Standard Deviation 5 Years
Axis Innovation Fund Direct Growth
10.17
13.89
-
As on June 2024
Standard deviation tells the volatility of the returns of the mutual fund. The higher a fund's Standard deviation, the higher the volatility of the fund's returns.
Sortino ratio is 1.41 as on June 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Ashish Naik is the fund manager of Axis Innovation Fund Direct Growth
The Exit load of Axis Innovation Fund Direct Growth is 1%