Fundalysisby DARKHORSESTOCKS

Scheme

Axis Multi Asset Allocation Fund

Holds 86 companies worth ₹1,845 Cr in Sept 2026.

  • Fund house

    AxisThe fund house that runs this scheme.

  • AUM

    ₹2,615 CrAxis Multi Asset Allocation Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 0.3% on Aug 2026, ₹2,623 Cr.

  • Largest holding

    ICICI BankICICI Bank is 5.6% of this scheme's NAV.

  • Fund manager

    Ashish NaikRuns its co-manager part since 22 Jun 2016, as the fund house dates it. With Devang Shah (co-manager), Hardik Shah (co-manager), Aditya Pagaria (co-manager), Akhil Thakker (co-manager), Krishnaa N (overseas), Pratik Tibrewal (commodities).

Overview(6 Oct 2026)

Fund managers7

  1. Ashish NaikCo-manager, equity · Jun 2016 · 15y · FRM PGDM B.E.
  2. Devang ShahCo-manager, debt · Apr 2024
  3. Hardik ShahCo-manager, debt · Apr 2024 · 14y · MBA B.E.
  4. Aditya PagariaCo-manager, debt · Jun 2024 · 15y · PGDM
  5. Akhil ThakkerCo-manager, equity · Sept 2026
  6. Krishnaa NOverseas · Dec 2024
  7. Pratik TibrewalCommodities · Feb 2025 · 14y · MBA B.Com

    Key facts

    Benchmark
    Nifty 500 TRI Index (65%) + Nifty Composite Debt Index (20%) + Domestic Price of Physical Gold (7.5%) + Domestic Price of Physical Silver (7.5%)
    Risk
    Very High
    Expense
    Regular 2.28% · Direct 1.2%
    Exit load
    10% within 12 months
    Started
    23 Aug 2010
    Minimum
    ₹100

    Source.Its Scheme Summary Document as of 6 Oct 2026 at AMFI.

    What changed(30 changes)

    Oct 2026

    1 change
    1. Expense ratio
      5 OctRegular 2.3% → 2.28%Direct 1.23% → 1.2%

    Sept 2026

    2 changes
    1. Akhil Thakker joined
      25 Septas co-manager (equity)
    2. Expense ratio
      10 SeptRegular 2.21% → 2.3%Direct 1.18% → 1.23%

    May 2026

    1 change
    1. Expense ratio
      17 MayRegular 1.91% → 2.21%Direct 0.86% → 1.18%

    Source.Its filings at NSE, since Aug 2024.

    Fund managers over time(Jun 2016 – now)

    1. Ashish Naik
    2. Devang Shah
    3. Hardik Shah
    4. Aditya Pagaria
    5. Akhil Thakker
    6. Krishnaa N
    7. Pratik Tibrewal
    8. Jayesh Sundar
    MainCoSlice20172019202120232025
    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 – Oct 2026)

    Every change to the expense ratio, newest first.
    25 changesRegularDirectΔ pt
    5 Oct 20262.28%1.20%0.03
    10 Sept 20262.30%1.23%0.05
    17 May 20262.21%1.18%0.32
    24 Feb 20261.91%0.86%0.03
    18 Jan 20261.94%0.89%0.05
    17 Dec 20251.97%0.94%0.04
    24 Nov 20252.01%0.98%0.02
    13 Nov 20252.02%1.00%0.02
    26 Sept 20252.00%0.98%0.06
    4 Jun 20252.06%1.04%0.01
    7 May 20252.07%1.05%0.01
    16 Apr 20252.08%1.06%0.01
    9 Apr 20252.09%1.07%0.04
    25 Mar 20252.08%1.03%0.02
    6 Mar 20252.10%1.05%0.02
    25 Feb 20252.10%1.07%0.01
    10 Feb 20252.09%1.06%0.02
    29 Jan 20252.11%1.08%0.01
    16 Jan 20252.10%1.07%0.03
    10 Dec 20242.10%1.04%0
    28 Nov 20242.06%1.04%0
    12 Nov 20242.07%1.04%0.01
    30 Oct 20242.08%1.05%0.01
    16 Oct 20242.09%1.06%0.01
    21 Aug 20242.10%1.07%–
    Direct plan, 5 Oct 2026
    1.20%
    Regular plan 2.28% · Exit load 10% within 12 months
    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(6 Oct 2026)

    Objective

    The Scheme seeks to generate long term capital appreciation by investing in a diversified portfolio of equity and equity related instruments, debt and money market instruments, Exchange Traded Commodity Derivatives/Units of Gold ETFs, Silver ETF & units of REITs/InvITs.Thereis no assurance that the investment objective of the Scheme will be achieved.

    Risk, type and benchmark

    Riskometer
    Very High
    At launch
    Very High
    Type
    Open Ended
    Benchmark
    Nifty 500 TRI Index (65%) + Nifty Composite Debt Index (20%) + Domestic Price of Physical Gold (7.5%) + Domestic Price of Physical Silver (7.5%)

    Asset allocation it may hold% of NAV

    1. Equity and Equity Related Instruments
      Allowed65–80%Holds68.9%
    2. Debt and Money Market Instruments
      Allowed10–30%Holds29.5%
    3. Units of Gold ETFs & Silver ETF & Exchange Traded Commodities Derivative
      Allowed10–30%
    4. Units issued by InvITs
      Allowed0–10%Holds1.6%

    Holds in Sept 2026.68.9% equity · 29.5% debt and cash · 1.6% REITs and InvITs

    How to invest(6 Oct 2026)

    Buying

    To start
    ₹100, then in multiples of ₹1
    To add
    ₹100, then in multiples of ₹1
    Systematic
    SIP - Daily / Weekly / Monthly / Yearly , Choti SIP - Monthly ; 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 all days, Fortnightly - alternate Wednesday, Monthly and Quarterly 1,7,10,15 and 25
    Minimum
    SIP Daily - 10, Weekly - 100, Monthly 100.00, SIP Yearly - 12000.00 SWP - 1000 STP - Daily, Weekly, Fortnightly, Monthly - 1000 and Quarterly 3000.00. Choti SIP - Maximum one SIP under the facility of exactly equal to Rs. 250/- is allowed. The facility is restricted to three SIP’s across all Mutual Funds (one each in upto three Asset Management Companies)., then in multiples of ₹1
    Instalments
    SIP Daily -6, Weekly - 6, Monthly - 6 SIP - Yearly - 3, Choti SIP - 60 installments at the time of registration ( If the tenure is below or above 5 years then SIP will be considered as Normal SIP. However, if investor desires to stop or withdraw the SIP investment prematurely, there is no restriction); SWP - Weekly - 5, Monthly - 6, Quarterly - 4, Halfyearly - 4, Yearly - 2 STP - Daily -6, Weekly - 6, Fortnightly -6, Monthly - 6, Quarterly -2.

    Selling and switching

    Scheme details(6 Oct 2026)

    What it is

    Category
    Multi Asset Allocation
    Offer
    30 Jun 2010 to 29 Jul 2010
    Started
    23 Aug 2010
    Reopened
    27 Aug 2010
    Plans
    Direct Monthly IDCW · Direct Growth · Regular Monthly IDCW · 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/H/MAA/10/05/0007