1. Axis Bluechip Fund is Open-ended Large Cap Equity scheme which belongs to Axis Mutual Fund House.
2. The fund was launched on Jan 05, 2010.
Investment objective & Benchmark
1. The investment objective of the fund is that ” The scheme aims to generate long term capital growth by investing in a diversified portfolio predominantly consisting of equity & equity related instruments of large cap companies. ”
2. It is benchmarked against BSE 100 Total Return Index.
Asset Allocation & Portfolio Composition
1. The asset allocation of the fund comprises around 90.89% in equities, 10.35% in debts and -1.25% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 53.74% of the assets, the top 3 sectors constitute around 46.18% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations – around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
Tax Implications on Axis Bluechip Fund-Growth
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax – STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of upto Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax – LTCG).
4. For Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
5. Also, for dividend income in excess of Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
