Funds/Equity Savings/Axis Equity Savings Fund

Axis Equity Savings Fund

Axis Mutual Fund·Equity Savings·vs Nifty Equity Savings TRI

The fund maintains a defensive posture within the equity-savings category, anchored by heavyweight positions in banking and sovereign debt—a combination designed to balance yield with stability. The recent spike in net receivables and exit from BoB debt suggests the manager is optimizing cash management and liquidity positioning, while two fresh small-cap additions hint at selective value-hunting in a buoyant market. The concentrated top-10 weighting at over 80 percent reflects conviction in large-cap quality rather than broad diversification, signaling confidence in defensive blue chips over broader market exposure.

Portfolio analysis · April 2026

NAV & Returns

Plan	NAV	1M	3M	6M	1Y	3Y CAGR	5Y CAGR
Direct Growth	₹25.4800	—	—	—	—	—	—
Regular Growth	₹22.2800	+0.13%	-1.72%	-1.81%	+2.11%	+8.86%	+7.96%

Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.

Portfolio Metrics(latest month)

Holdings

117

Top 5 Weight

31.77%

Top 10 Weight

46.76%

Active Share

—

Large Cap

54.02%

Gini

0.646

What Changed2026-03-31 → 2026-04-30

Holdings: 118 → 118+2 added−2 removed23 weight shifts ≥ 0.1%

Stock	Sector	Weight
Minda Corporation Limited	Auto Components	0.30%
CG Power and Industrial Solutions Limited	Electrical Equipment	0.18%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	Net Receivables / (Payables)		CASH_EQUIVALENT	36.41%
2	Reliance Industries Limited INE002A01018	Petroleum Products	EQUITY	9.73%
3	HDFC Bank Limited INE040A01034	Banks	EQUITY	7.22%
4	ICICI Bank Limited INE090A01021	Banks	EQUITY	6.09%
5	7.18% Government of India (14/08/2033) IN0020230085	Sovereign	DEBT	4.67%
6	7.1% Government of India (08/04/2034) IN0020240019	Sovereign	DEBT	4.06%
7	Clearing Corporation of India Ltd		CASH_EQUIVALENT	3.58%
8	Tata Steel Limited INE081A01020	Ferrous Metals	EQUITY	3.19%
9	Axis Money Market Fund - Direct Plan - Growth Option INF846K01Q62		MUTUAL_FUND	2.95%
10	Kotak Mahindra Bank Limited INE237A01036	Banks	EQUITY	2.90%
11	Bank Nifty Index May 2026 Future		DERIVATIVE	2.77%(der)
12	Bharti Airtel Limited INE397D01024	Telecom - Services	EQUITY	2.37%
13	Mahindra & Mahindra Limited INE101A01026	Automobiles	EQUITY	2.26%
14	Larsen & Toubro Limited INE018A01030	Construction	EQUITY	1.98%
15	Eternal Limited INE758T01015	Retailing	EQUITY	1.90%
16	8.52% Muthoot Finance Limited (07/04/2028) ** INE414G07JN3	CRISIL AA+	DEBT	1.74%
17	Hindustan Aeronautics Limited INE066F01020	Aerospace & Defense	EQUITY	1.61%
18	SBI Life Insurance Company Limited INE123W01016	Insurance	EQUITY	1.39%
19	State Bank of India INE062A01020	Banks	EQUITY	1.34%
20	5% GMR Airports Limited (13/02/2027) ** INE776C08083	CRISIL A+	DEBT	1.20%

Sector Allocation

Banks22.2%

Sovereign10.7%

Petroleum Products9.8%

CRISIL AA+4.6%

Ferrous Metals4.1%

Pharmaceuticals & Biotechnology3.7%

Telecom - Services2.8%

IT - Software2.8%

Healthcare Services2.4%

Automobiles2.3%

Top 10 sectors by % to NAV. Excludes derivatives.