Axis Bluechip Fund

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After giving a lacklustre performance for the past several years, Axis Bluechip Fund has managed to reverse the trend and it is back in the reckoning. The scheme, which invests primarily in large caps, has beaten its peers in the past year by a wide margin. It has given close to 20% returns in a year, while its peers have generated returns in the range of 7-12%.

There are a few reasons why the scheme has done well. First, the scheme's fund manager Shreyash Devalkar, who joined the fund house in November 2016, focused on quality and growth companies which was in sync with the flavour of the markets. The factors he kept in mind while selecting companies included high return on equity (RoE), revenue and margin growth, and market penetration. Three sectors met these criteria: retail-focused banks, auto and auto-ancillaries, and consumption. Recently, Devalkar also enhanced exposure to quality companies such as Maruti Suzuki, Eicher Motors and Larsen & Toubro.

Besides, unlike his peers, Devalkar reduced the scheme's exposure to midcaps to 6% and took the share of large-sized companies to over 90%. Hence, in the past year, when mid-sized companies fell, Axis Bluechip's returns did not fall as much as its peers. This has helped in outperformance of the scheme. In the past three- and five-year periods, the scheme has delivered 11% and 15.6% returns, respectively, while its benchmark, Nifty50, has given 9% and 13% returns during the same periods. Therefore, investors may consider investing in the Axis Bluechip Fund.

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