Axis AMC (IFSC Branch)

• Axis AMC adopts an active management approach to capture alpha opportunities in the Indian equity markets.

• They focus on fundamentally strong businesses with the potential to grow faster than India’s nominal GDP.

• Its research is centered on identifying companies with a proven execution track record, profitable growth, and a focus on enhancing shareholder value.

• Axis AMC follows a bottom-up, fundamentally driven multicap stock selection strategy, combined with a ‘Buy and Hold’ approach to support long-term compounding.

• Quality is assessed through return on equity, free cash flow generation, and strong corporate governance standards.

Core Beliefs

Look for quality

• Focus on businesses with a robust business model

• Backed by strong management pedigree and governance standards

• Demonstrating good return on equity (ROE) and healthy cash flows

Avoid mistakes

• Team: Encourage the team to think creatively and stay motivated

• Universe: Filter out irrelevant or unfit companies

• Process: Maintain a bottom-up approach with no market cap or sector biases

Risk management

• Monitor key risks at every stage including liquidity, volatility, business-specific factors, and size-related exposures

Outperformance

• The primary objective is to outperform benchmarks and peers over the medium to long term

Tax Advantage

Full tax exemption in India:

• No tax at the master fund level (pass-through structure)

• No capital gains tax at the feeder fund level (qualifies as “Specified Fund”)

• No tax on redemption or distribution for investors in India (subject to Section 10(4D) of the Income Tax Act, 1961)

• Investors may be subject to tax in their home country

Additionally:

• No PAN or income-tax return filing required (subject to conditions)

• No TDS or withholding tax on gains

Key Advantages for NRIs and Foreign Investors

• No FPI registration required to access Indian markets

• No NRE/NRO account needed; direct remittance from foreign bank accounts allowed

• No bank account in IFSC necessary for investment

• Simple onboarding—only KYC and registration with Fund Administrator (KFin Technologies Ltd) required

• NAV and reporting are in US Dollar terms

Share Classes & Management Fee Structure

The fund offers four share classes, each based on the investor’s capital commitment. All classes are under a regular plan with no performance fee.

Exit Load Structure

This refers to the fees charged on early redemption of units, calculated on the NAV of units being redeemed.

Operating Expense: Capped at 0.50% of NAV per annum (excludes master fund TER)

(As of February 28, 2025)

Note: “Others” in Portfolio includes CBLO and cash equivalents. “Others” in Benchmark includes Textiles, Media, Entertainment & Publication, Diversified, and Forest Materials.

Top 10 Holdings (as of Feb 2025)

1. HDFC Bank Ltd – 5.3%

2. ICICI Bank Ltd – 4.4%

3. Persistent Systems Ltd – 2.9%

4. Blue Star Ltd – 2.7%

5. Infosys Ltd – 2.4%

6. Fortis Healthcare Ltd – 2.3%

7. Minda Corporation Ltd – 2.2%

8. Reliance Industries Ltd – 2.1%

9. Bharti Airtel Ltd – 2.0%

10. Brigade Enterprises Ltd – 1.7%

Key Documents Required (Individual Investors)

1. Identity & Address Proof (Passport, Driving License, or National ID)

2. PAN or equivalent document

3. Filled Application Form & Contribution Agreement

4. Funding Proof (SWIFT copy or bank statement)

5. Bank Proof (statement or letter with complete bank details)

Fund Service Partners

• Custodian: HSBC

• Auditor: Manubhai & Shah LLP

• Tax Advisor: Price Waterhouse & Co. LLP

• Legal Advisor: Khaitan & Co.

• Fund Administrator: KFin Technologies Ltd