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InvestVerdict

Axis Business Cycles Fund

Regular Plan · Growth Option · Sectoral / Thematic · Scheme code 151366

NAV₹16.0900as on 30 Oct 2026
Fund houseAxis Mutual Fund
CategorySectoral / Thematic
Plan & optionRegular · Growth Option
History3.5 years

Returns (%)

 1M3M6M1Y3Y5Y7Y10YLaunch
This scheme 3.908.527.00 8.4614.06— ——17.41
Nifty 500
benchmark		 0.874.312.15 5.2012.4911.41 ——15.49
Sectoral / Thematic
category median		 ——— -6.5811.548.85 —12.68—

Over a year annualised (CAGR), under a year absolute. Computed from AMFI's published NAV history for this scheme.

Risk

 VolatilitySharpeSortinoBetaAlphaMax fallR²
This scheme 15.8% 0.48 0.70 1.01 1.33% -19.6% 95.31
Nifty 500
benchmark		 15.2%0.39 0.58—— -37.3%—

Risk-free rate 6.5%. Beta, alpha and R² are regressed on the 36 months this scheme and its benchmark share.

Growth of ₹100 since launch

9212215218220242026InvestVerdict

Drawdown from peak (%)

0%-7%-14%-21%20242026

Every one-year period it has lived through

WindowsWorstMedianBestPeriods that lost money
626 -5.9% 7.2% 44.0% 13%

Every one-year holding period in this scheme's history, not just the last one — the spread a real investor would have met depending only on when they started.

How it behaves against its benchmark

Up captureDown captureCorrelation Tracking errorInformation ratioTreynor
104% 98% 0.98 3.4% 0.41 7.20

Up capture is how much of the benchmark's gain this scheme kept in the months the benchmark rose; down capture, how much of its fall it took. Below 100 on the down side and above it on the up side is the combination every fund is trying for and few reach. Measured over the 36 months this scheme and Nifty 500 share.

InvestVerdict

Axis Business Cycles Fund

Regular Plan · Growth Option

Allocation

By asset

Equity95.60%
Cash & Equivalents3.89%
Debt0.49%

By market cap

Large Cap47.87%
Mid Cap23.46%
Small Cap23.08%
Unclassified1.68%

Concentration

Number of stocks86
Top 5 stocks17.04%
Top 10 stocks29.19%
Top 20 stocks45.83%
Lines in the filing89
Largest holding3.79%
Largest sectorBanks 17.45%
Effective stocks62.1
Sectors held34
Cash3.89%

Effective stocks is what the concentration works out to: a fund holding 86 names but most of its money in a few behaves like a fund of 62. Cash includes repo and TREPS, which every fund parks money in overnight.

Sector split

Banks — 17.5%Auto Components — 7.2%Chemicals & Petrochemicals — 6.9%Finance — 5.4%Industrial Products — 4.8%Retailing — 4.2%Pharmaceuticals & Biotechnology — 4.1%Cash & Equivalents — 3.9%Construction — 3.8%Other — 42.3%Banks17.5%Auto Components7.2%Chemicals & Petrochemicals6.9%Finance5.4%Industrial Products4.8%Retailing4.2%Pharmaceuticals & Biotech…4.1%Cash & Equivalents3.9%Construction3.8%Other42.3%
Banks17.45%
Auto Components7.21%
Chemicals & Petrochemicals6.94%
Finance5.36%
Industrial Products4.77%
Retailing4.18%
Pharmaceuticals & Biotechnology4.13%
Cash & Equivalents3.89%
Construction3.79%
IT - Software3.63%
Cement & Cement Products3.59%
Non - Ferrous Metals2.94%
Financial Technology (Fintech)2.93%
Automobiles2.69%
Telecom - Services2.47%
Ferrous Metals2.25%
Petroleum Products2.17%
Electrical Equipment2.13%
Consumer Durables2.05%
Leisure Services1.83%
InvestVerdict

Axis Business Cycles Fund

Regular Plan · Growth Option · holdings

Top 30 holdings

#CompanySectorShares held Value
₹ cr		% of fund
1 Larsen & Toubro Limited Construction 205,760 77 3.79%
2 Axis Bank Limited Banks 599,057 73 3.60%
3 ICICI Bank Limited Banks 554,096 73 3.59%
4 HDFC Bank Limited Banks 960,108 68 3.34%
5 Clearing Corporation of India Ltd Unclassified — 63 3.09%
6 Kotak Mahindra Bank Limited Banks 1,330,462 55 2.72%
7 Grasim Industries Limited Cement & Cement Products 177,798 54 2.67%
8 Aether Industries Limited Chemicals & Petrochemicals 310,206 53 2.58%
9 Bharti Airtel Limited Telecom - Services 286,337 50 2.47%
10 PTC Industries Limited Industrial Products 20,421 45 2.22%
11 IndusInd Bank Limited Banks 500,032 45 2.21%
12 Reliance Industries Limited Petroleum Products 372,573 44 2.17%
13 One 97 Communications Limited Financial Technology (Fintech) 237,741 40 1.96%
14 HCL Technologies Limited IT - Software 322,294 40 1.94%
15 Eternal Limited Retailing 995,219 32 1.56%
16 Jindal Steel Limited Ferrous Metals 280,912 32 1.56%
17 Solar Industries India Limited Chemicals & Petrochemicals 15,674 31 1.51%
18 Sona BLW Precision Forgings Limited Auto Components 371,826 31 1.51%
19 Mahindra & Mahindra Limited Automobiles 103,596 31 1.50%
20 Bajaj Finance Limited Finance 315,724 30 1.49%
21 CreditAccess Grameen Limited Finance 230,683 29 1.44%
22 Vishal Mega Mart Limited Retailing 2,719,671 27 1.35%
23 NTPC Limited Power 853,969 28 1.35%
24 Bosch Limited Auto Components 5,502 26 1.27%
25 Tata Motors Ltd Agricultural, Commercial & Construction Vehicles 608,695 26 1.26%
26 Hyundai Motor India Ltd Automobiles 119,495 24 1.19%
27 TD Power Systems Limited Electrical Equipment 308,910 24 1.19%
28 PNB Housing Finance Limited Finance 211,886 24 1.16%
29 Titagarh Rail Systems Limited Industrial Manufacturing 279,529 23 1.12%
30 Asian Paints Limited Consumer Durables 93,285 22 1.10%
InvestVerdict

Axis Business Cycles Fund

Regular Plan · Growth Option · where the money sits

What the manager did last month

Between the filings of 31 May 2026 and 31 Jul 2026. A position grows because the manager bought or because the price rose; only the share count separates them.

BoughtSoldNew positionsSold out ofPrice move of holdings
₹88 cr ₹123 cr 8 8 +6.49%
StockShares tradedShares PriceValue
₹ cr
New position
Bajaj Finance Limited 472,500 entered — 53.9
Vedanta Aluminium Metal Limited 452,772 entered — 20.6
TD Power Systems Limited 175,972 entered — 19.9
Info Edge (India) Limited 157,833 entered — 19.4
Amber Enterprises India Limited 23,227 entered — 17.3
Alkem Laboratories Limited 24,158 entered — 13.9
ABB India Limited 16,997 entered — 12.4
Tech Mahindra Limited 64,136 entered — 10.6
Added to
HCL Technologies Limited 172,328 +114.9% +13.8% 23.2
Swiggy Limited 500,000 +285.5% +10.5% 14.2
Pine Labs Limited 529,492 +85.8% -3.8% 7.4
Brigade Enterprises Limited 82,788 +33.3% -11.1% 4.8
Tata Motors Ltd 101,186 +19.9% +15.1% 4.4
Ambuja Cements Limited 99,337 +24.6% -3.5% 4.3
S.J.S. Enterprises Limited 17,907 +67.7% +13.6% 4.3
Bharti Airtel Limited 21,673 +8.2% +7.8% 4.3
Trimmed
Cummins India Limited 33,894 -48.4% -6.2% 18.7
Eternal Limited 444,680 -23.1% +20.7% 13.5
Corona Remedies Limited 42,351 -54.3% +25.2% 8.9
Coforge Limited 51,044 -31.8% +21.0% 8.8
BSE Limited 23,739 -21.1% -12.1% 8.7
NTPC Limited 203,372 -19.2% -10.3% 7.1
Delhivery Limited 135,462 -23.4% +6.5% 6.5
One 97 Communications Limited 46,936 -14.5% +20.0% 6.3
Sold out of
Bharat Heavy Electricals Limited 864,538 exited — 36.0
CG Power and Industrial Solutions Limited 338,960 exited — 31.1
GE Vernova T&D India Limited 40,687 exited — 21.0
ITC Limited 697,326 exited — 20.0
Infosys Limited 149,766 exited — 17.4
HDFC Asset Management Company Limited 61,878 exited — 16.6
Bandhan Bank Limited 741,679 exited — 15.5
Aavas Financiers Limited 39,939 exited — 5.4
Not equityPrevious filingThis filingChange
Cash, repo and TREPS ₹0 cr ₹0 cr +₹0 cr
Debt: bills, CDs and commercial paper ₹20 cr ₹10 cr −₹10 cr

The list above is stocks and fund units. Treasury bills, repo and money-market lines roll over every month by design — they are not decisions, so they are totalled here rather than listed as activity.

Not investment advice. InvestVerdict is not a SEBI-registered Investment Adviser or Research Analyst. Every figure is computed from AMFI's published NAV history and the portfolio the AMC filed with AMFI; none of it is a recommendation to buy, hold or sell. Past returns do not predict future ones. Generated 2 Nov 2026.