Fundalysisby DARKHORSESTOCKS

Scheme

Axis India Manufacturing Fund

Holds 73 companies worth ₹5,369 Cr in Sept 2026.

  • Fund house

    AxisThe fund house that runs this scheme.

  • AUM

    ₹5,543 CrAxis India Manufacturing Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 3.8% on Aug 2026, ₹5,761 Cr.

  • Largest holding

    Mahindra and Mahindra LimitedMahindra and Mahindra Limited is 4.8% of this scheme's NAV.

  • Fund manager

    Nitin AroraRuns its co-manager part since 21 Dec 2023, as the fund house dates it.

Overview(28 Sept 2026)

Fund managers1

  1. Nitin AroraCo-manager, equity · Dec 2023 · 13y
  1. Shreyash DevalkarDec 2023 – Sept 2026

Key facts

Benchmark
NIFTY India Manufacturing TRI
Risk
Very High
Expense
Regular 2.08% · Direct 0.92%
Exit load
10% within 90 days
Started
21 Dec 2023
Minimum
₹500

Source.Its Scheme Summary Document as of 28 Sept 2026 at AMFI.

What changed(20 changes)

Sept 2026

2 changes
  1. Shreyash Devalkar left
    25 Septran it as co-manager (equity) from Dec 2023
  2. Expense ratio
    10 SeptRegular 2.59% → 2.08%Direct 1.25% → 0.92%

May 2026

1 change
  1. Expense ratio
    17 MayRegular 1.84% → 2.59%Direct 0.54% → 1.25%

Jan 2026

2 changes
  1. Exit load
    18 Jan10% within 12 months → 10% within 90 days
  2. Expense ratio
    18 JanDirect 0.53% → 0.54%

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Dec 2023 – now)

  1. Nitin Arora
  2. Shreyash Devalkar
MainCoSlice202420252026
Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs(Aug 2024 – Sept 2026)

Every change to the expense ratio, newest first.
19 changesRegularDirectΔ pt
10 Sept 20262.08%0.92%0.33
17 May 20262.59%1.25%0.71
18 Jan 20261.84%0.54%0.01
17 Dec 20251.84%0.53%0.01
13 Nov 20251.83%0.52%0.01
26 Sept 20251.82%0.51%0.04
4 Jun 20251.81%0.47%0.01
16 Apr 20251.82%0.46%0.01
9 Apr 20251.83%0.47%0.05
25 Mar 20251.83%0.52%0.02
25 Feb 20251.84%0.54%0.05
10 Feb 20251.81%0.49%0.02
29 Jan 20251.83%0.51%0.09
16 Jan 20251.79%0.42%0.01
12 Nov 20241.78%0.41%0.01
30 Oct 20241.77%0.40%0.04
16 Oct 20241.76%0.36%0.03
30 Aug 20241.76%0.33%0.04
21 Aug 20241.76%0.29%–
Direct plan, 10 Sept 2026
0.92%
Regular plan 2.08% · Exit load 10% within 90 days
Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk(28 Sept 2026)

Objective

To provide long term capital appreciation by investing in equity and equity related securities of companies engaged in manufacturing theme. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Risk, type and benchmark

Riskometer
Very High
At launch
Very High
Type
An open-ended equity scheme investing in India manufacturing theme.
Benchmark
NIFTY India Manufacturing TRI

Asset allocation it may hold% of NAV

  1. Equity & Equity related instruments selected based on the manufacturing theme
    Allowed80–100%
  2. Other Equity & Equity Related Instruments
    Allowed0–20%
  3. Debt & Money MarketInstruments
    Allowed0–20%Holds3.1%
  4. Units issued by InVITs
    Allowed0–10%Holds0.0%

Holds in Sept 2026.96.9% equity · 3.1% debt and cash

How to invest(28 Sept 2026)

Buying

To start
₹500, then in multiples of ₹1
To add
₹100, then in multiples of ₹1
Systematic
SIP - Daily/Weekly/Monthly/Yearly SWP - Weekly/Monthly/Quarterly/Halfyearly/Yearly STP - Daily/Weekly/Fortnightly/Monthly/Quarterly
Dates
SIP - Except 29,30 and 31 all dates. SWP - Any Business Day,. STP - Daily/Weekly - Monday to Friday. Fortnightly - alternate Wednesday. Monthly/Quarterly - 1,7,10,15 and 25
Minimum
SIP - Daily/Weekly - 100. Monthly - 500 and Yearly 6,000. SWP - Monthly/Quarterly/Halfyearly/Yearly - 1000. STP - Daily, Weekly, Fortnightly, Monthly - 1000 and Quarterly 3000., then in multiples of ₹1
Instalments
SIP - Daily/Weekly/Monthly - 6. Yearly -3. SWP - Weekly - 5, Monthly - 6. Quarterly/ Halfyearly - 4. Yearly - 2. STP - Daily/Weekly/Fortnightly/Monthly - 6. Quarterly -2.

Selling and switching

Scheme details(28 Sept 2026)

What it is

Category
Thematic
Offer
1 Dec 2023 to 15 Dec 2023
Started
21 Dec 2023
Reopened
27 Dec 2023
Plans
Direct IDCW-Payout,Direct IDCW-Reinvestment,Direct Growth · Regular IDCW-Payout,Regular IDCW-Reinvestment,Regular Growth
Face value
₹10
Listed
Unlisted

How it is run

Swing pricing
No
Side-pocketing
Yes
Custodian
DEUTSCHE BANK AG
Auditor
B S R & Co. LLP
Registrar
Kfintech Ltd
SEBI code
AXIS/O/E/THE/23/09/0079