Equity Outlook 7 Axis Bluechip Fund 8 Axis Focused 25 Fund 9 Axis Midcap Fund 10 Axis Long Term Equity Fund 11 Axis Multicap Fund 12

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4 I N D E X Tax Reckoner 2 How To Read A Factsheet 6 Equity Funds Equity Outlook 7 Axis Bluechip Fund 8 Axis Focused 25 Fund 9 Axis Midcap Fund 10 Axis Long Term Equity Fund 11 Axis Multicap Fund 12 Debt Funds Fixed Income Outlook 13 Axis Liquid Fund 14 Axis Ultra Short Term Fund 15 Axis Treasury Advantage Fund 16 Axis Short Term Fund 17 Axis Dynamic Bond Fund 18 Axis Corporate Debt Fund 19 Axis Strategic Bond Fund 20 Axis Credit Risk Fund 21 Axis Gilt Fund 22 Axis Banking & PSU Debt Fund 23 Hybrid Funds Hybrid Outlook 24 Axis Equity Saver Fund 25 Axis Dynamic Equity Fund 27 Axis Equity Hybrid Fund 29 Axis Regular Saver Fund 30 Axis Children s Gift Fund 31 Axis Triple Advantage Fund 32 Axis Arbitrage Fund 33

5 I N D E X SIP Performance Of Selected Schemes s Load Structure And Minimum Investment Amount Annexure Expense Ratios Product Labeling

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7 EQUITY D E C E M B E R % 6.4% 4.7% Equity market valuations are broadly reasonable adjusted for the cyclical low in earnings and potential for revival going forward. QUICK TAKE We remain bullish on equities from a medium to long term perspective KEY HIGHLIGHTS Investors are suggested to have their asset allocation plan based on one s risk appetite and future goals in life. MARKETS CORPORATE GLOBAL Equity Markets rebounded this month as a significant fall in crude prices improved market sentiments. Frontline indices, S&P BSE Sensex & NIFTY 50 gained 5.1% and 4.7% respectively for the month. Mid and small caps remained tepid as sentiment continued to remain weak. NIFTY Midcap 100 Index & NIFTY Small cap 100 Index were up 1.8% & 2.5% respectively for the month. Foreign Portfolio Investors (FPI) returned to Indian capital markets as global uncertainty, global fundamentals and cheaper valuations caught the eye of investors. The fall in crude and sharp corrections in August and September added to the market attractiveness in India. FPIs invested ~11,500 Cr across equity and debt markets during the month. Domestic mutual funds continue to support markets as retail investors remain bullish on the equity market story. SIP`s continue to sustain despite market volatility highlighting maturity of domestic investors. Consumer price inflation eased to 3.31% in October from a downward revised print of 3.7% in September. Modest food inflation continues to be reason for lower than expected retail inflation. Core inflation, however, rose above 6 percent in October. GST numbers for October were at Rs 97,600 Cr. Lower GST numbers are likely to raise concerns over the fiscal math, given higher government capital expenditure considering elections are around the corner. Crude oil saw its worst month in more than a decade as global politics and supply concerns saw crude tumble to its lowest levels this year. Significant production ramp over the last few quarters led the US to dethrone Saudi Arabia & Russia as the world s largest oil producer in October Further, with the US allowing several countries, including India, to continue oil imports from Iran, the fears of a supply crunch from Iran have waned. The India crude basket ended the month at US$ 58.56/barrel down 23% this month. Q2 FY19 GDP growth came in at 7.1% missing analysts estimates. The unexpected slowdown in GDP growth comes despite robust high frequency data and reasonable corporate earnings. The growth has largely been supported by government-enabled construction activity, electricity and public spending. On the positive side, the ongoing gradual improvement in private investment, robust harvest along with moderating oil prices could provide support to growth. On the global front, The US & China agreed to a temporary truce on the side lines of the G-20 summit. This likely reduction in trade hostilities is seen as the first step to normalization of trade relations between the two largest trading partners. The markets have seen bouts of volatility over the last few months and currently offer reasonable valuations in select pockets. While we are less pessimistic than 3 months ago given lower crude prices, we continue to remain cautious in the run up to election season and global macro factors. Knee jerk reactions to news events are likely to remain part and parcel of equity markets for the next few quarters. Hence, Investors are advised to deploy funds in a phased manner. Systematic investments into equity products could also help investors ride out short term volatility. RESPONSIBLE INVESTING TIP FOR THE MONTH Distributors Investors may worry - Calm your investors, corrections are ideal entry points for long term investors. Effective Portfolio Management Key. Investors trust you. Be Responsible! Investors Do not Panic - Corrections are healthy. Timing the markets is dangerous - Invest Systematically, Invest Regularly, Invest Responsibly. Be fearful when others are greedy. Source: Bloomberg, Axis MF Research. 7

8 AXIS BLUECHIP FUND (An Open-Ended Equity Scheme Predominantly Investing In Large Cap Stocks) INVESTMENT OBJECTIVE: To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities of Large Cap companies including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved. DATE OF ALLOTMENT 5th January 2010 MONTHLY AVERAGE 3, Cr. 3, Cr. Nifty 50 Instrument Type/Issuer Name Industry % OF EQUITY 83.00% HDFC Bank Limited Banks 10.08% Kotak Mahindra Bank Limited Banks 7.83% Bajaj Finance Limited Finance 6.82% STATISTICAL MEASURES (3 YEARS) Standard Deviation % Beta Sharpe Ratio** TURNOVER* (1 YEAR) 1.70 times Mr. Shreyash Devalkar Work experience: 17 years. He has been managing this fund since 23rd November 2016 Maruti Suzuki India Limited Auto 5.70% Tata Consultancy Services Limited Software 4.89% ICICI Bank Limited Banks 4.83% HDFC Limited Finance 4.41% Avenue Supermarts Limited Retailing 3.92% SECTOR ALLOCATION Financial Services Consumer Goods IT 8.44 Automobile 6.19 Energy 2.94 CHEMICALS 2.44 Construction 2.15 Pharma 1.09 Cement & 0.95 Cement Products Textiles 0.24 Nifty 50 Index Index 3.88% Hindustan Unilever Limited 3.62% Titan Company Limited Consumer 2.95% Reliance Industries Limited Petroleum Products 2.94% Nestle India Limited 2.78% Infosys Limited Software 2.72% PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception Bandhan Bank Limited Banks 2.63% Pidilite Industries Limited Chemicals 2.44% ` 10,000/- ` 10,000 Date of inception Bajaj Finserv Limited Finance 2.27% Larsen & Toubro Limited Construction Project 2.15% Axis Bluechip Fund - Growth 9.68% 10, % 14, % 20, % 26,860 Nifty 50 (Benchmark) 7.82% 10, % 14, % 18, % 22, Jan-10 S&P BSE Sensex (Additional Benchmark) 10.52% 11, % 14, % 18, % 23,315 Axis Bluechip Fund - Direct Plan -Growth 11.21% 11, % 14, % 21, % 23,621 Nifty 50 (Benchmark) 7.82% 10, % 14, % 18, % 19, Jan-13 S&P BSE Sensex (Additional Benchmark) 10.52% 11, % 14, % 18, % 20,117 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated at `10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Shreyash Devalkar is managing the scheme since 23rd November 2016 and he manages 5 schemes of Axis Mutual Fund. Please refer to annexure on Page 38 for performance of all schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). Asian Paints Limited Britannia Industries Limited 1.74% 1.54% Divi's Laboratories Limited Pharmaceuticals 1.09% UltraTech Cement Limited Cement 0.95% Wipro Limited Software 0.83% s Record Date DIVIDENDS Regular Plan Direct Plan Mar 15, Dividend Mar 21, Mar 10, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Data as on 30th. OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.73% DEBT, CASH & OTHER CURRENT ASSETS 16.27% GRAND TOTAL 100% Entry Load : NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment, For 10 % of investments: Nil, For remaining investments: 1%, If redeemed / switched - out after 12 months from the date of allotment:nil **Risk-free rate assumed to be 6.55% (MIBOR as on ) - Source: Please note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years. Data as on 30th. Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. 8 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

9 AXIS FOCUSED 25 FUND (An open ended equity scheme investing in maximum 25 stocks investing in large cap, mid cap and small cap companies) INVESTMENT OBJECTIVE: To generate long term capital appreciation by investing in a concentrated portfolio of equity & equity related instruments of up to 25 companies. DATE OF ALLOTMENT 29th June 2012 MONTHLY AVERAGE 6, Cr. Nifty 50 Instrument Type/Issuer Name Industry % OF EQUITY 85.57% 6, Cr. HDFC Bank Limited Banks 9.01% Bajaj Finance Limited Finance 7.17% Tata Consultancy Services Limited Software 7.15% Kotak Mahindra Bank Limited Banks 7.05% STATISTICAL MEASURES (3 YEARS) Standard Deviation % Beta Sharpe Ratio** TURNOVER* (1 YEAR) 1.41times Mr. Jinesh Gopani Work experience:17 years. He has been managing this fund since 07th June 2016 Maruti Suzuki India Limited Auto 6.82% HDFC Limited Finance 6.65% Avenue Supermarts Limited Retailing 5.91% Bajaj Finserv Limited Finance 4.62% Pidilite Industries Limited Chemicals 3.33% SECTOR ALLOCATION Financial Services Automobile IT 9.75 Consumer Goods 8.30 Industrial 5.90 Manufacturing Chemicals 3.33 Pharma 3.02 Eicher Motors Limited Auto 3.26% Supreme Industries Limited Industrial Products 3.08% Bandhan Bank Limited Banks 3.01% Sun Pharmaceutical Industries Limited Pharmaceuticals 2.62% Info Edge (India) Limited Software 2.60% PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- ` 10,000 Date of inception Axis Focused 25 Fund - Growth 4.17% 10, % 15, % 21, % 26,490 Nifty 50 (Benchmark) 7.82% 10, % 14, % 18, % 22, Jun-12 S&P BSE 200 (Additional Benchmark) 3.54% 10, % 14, % 20, % 23,681 Axis Focused 25 Fund - Direct Plan - Growth 5.37% 10, % 15, % 23, % 24,383 Nifty 50 (Benchmark) 7.82% 10, % 14, % 18, % 19, Jan-13 S&P BSE 200 (Additional Benchmark) 3.54% 10, % 14, % 20, % 20,545 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated at `10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Jinesh Gopani is managing the scheme since 7th June 2016 and he manages 5 schemes of Axis Mutual Fund. Please refer to annexure on Page 38 for performance of all schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). Gruh Finance Limited Finance 2.59% Asian Paints Limited 2.39% Motherson Sumi Systems Limited Auto Ancillaries 2.09% V-Guard Industries Limited Industrial Capital Goods 1.45% Cummins India Limited Industrial Products 1.37% WABCO India Limited Auto Ancillaries 1.33% Endurance Technologies Limited Auto Ancillaries 1.27% Varroc Engineering Limited Auto Ancillaries 0.79% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.40% DEBT, CASH & OTHER CURRENT ASSETS 14.03% DIVIDENDS GRAND TOTAL 100% s Record Date Mar 08, Feb 28, Dividend Mar 10, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Data as on 30th. Entry Load : NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment, For 10 % of investments: Nil, For remaining investments: 1%, If redeemed / switched - out after 12 months from the date of allotment:nil **Risk-free rate assumed to be 6.55% (MIBOR as on ) - Source: Please note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years.data as on 30th. Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. 9 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

10 AXIS MIDCAP FUND (An Open Ended Equity Scheme Predominantly Investing In Mid Cap Stocks) INVESTMENT OBJECTIVE: To achieve long term capital appreciation by investing predominantly in equity & equity related instruments of Mid Cap companies. DATE OF ALLOTMENT 18th February 2011 MONTHLY AVERAGE 1, Cr. 1, Cr. S&P BSE Midcap Instrument Type/Issuer Name Industry % OF EQUITY 81.74% City Union Bank Limited Banks 5.29% Gruh Finance Limited Finance 5.10% Astral Poly Technik Limited Industrial Products 4.08% Page Industries Limited Textile Products 3.96% STATISTICAL MEASURES (3 YEARS) Standard Deviation % Beta Sharpe Ratio** TURNOVER* (1 YEAR) 0.84 times Mr. Shreyash Devalkar Work experience: More than 17 years. He has been managing this fund since 23rd November 2016 HDFC Bank Limited Banks 3.90% Torrent Pharmaceuticals Limited Pharmaceuticals 3.77% Bajaj Finance Limited Finance 3.45% Mahindra & Mahindra Financial Services Limited Finance 3.40% Endurance Technologies Limited Auto Ancillaries 3.36% Info Edge (India) Limited Software 3.32% Financial Services IT 4.97 Divi's Laboratories Limited Pharmaceuticals 3.06% SECTOR ALLOCATION Consumer Goods Industrial Manufacturing Pharma 9.48 Automobile 8.04 Textiles 4.36 Cement & 2.85 Cement Products Energy 2.43 Construction 1.70 Sundaram Finance Limited Finance 2.99% ACC Limited Cement 2.85% Supreme Industries Limited Industrial Products 2.76% Sanofi India Limited Pharmaceuticals 2.65% Avenue Supermarts Limited Retailing 2.44% PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception Indraprastha Gas Limited Gas 2.43% Berger Paints (I) Limited 1.96% Trent Limited Retailing 1.96% ` 10,000/- ` 10,000 Date of inception WABCO India Limited Auto Ancillaries 1.88% Cummins India Limited Industrial Products 1.72% Axis Midcap Fund - Growth 3.91% 10, % 13, % 25, % 34,520 S&P BSE Midcap (Benchmark) % 8, % 14, % 25, % 25, Feb-11 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 21,972 Axis Midcap Fund - Direct Plan - Growth 4.99% 10, % 14, % 27, % 27,027 S&P BSE Midcap (Benchmark) % 8, % 14, % 25, % 22, Jan-13 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 19,683 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Shreyash Devalkar is managing the scheme since 23rd November 2016 and he manages 5 schemes of Axis Mutual Fund. Please refer to annexure on Page 38 for performance of all schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). DIVIDENDS Regular Plan s Record Date Direct Plan Entry Load : NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment, For 10 % of investments: Nil, For remaining investments: 1%, If redeemed / switched - out after 12 months from the date of allotment:nil **Risk-free rate assumed to be 6.55% (MIBOR as on ) - Source: Please note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years. Data as on 30th. Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. 10 Oct 16, Dividend Sep 15, Sep 10, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Data as on 30th. Voltas Limited Construction Project 1.70% Kansai Nerolac Paints Limited 1.69% MphasiS Limited Software 1.65% Ttk Prestige Limited Consumer 1.49% Cholamandalam Investment And Finance Company Limited Finance 1.39% MRF Limited Auto Ancillaries 1.19% Balkrishna Industries Limited Auto Ancillaries 1.13% Schaeffler India Limited Industrial Products 1.08% HDFC Asset Management Company Limited Finance 1.08% BATA India Limited Consumer 0.99% Aditya Birla Fashion And Retail Limited V-Guard Industries Limited Colgate Palmolive (India) Limited OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) Retailing 0.77% Industrial Capital Goods 0.64% 0.61% 1.35% DEBT, CASH & OTHER CURRENT ASSETS 16.91% GRAND TOTAL % Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

11 AXIS LONG TERM EQUITY FUND (An Open-Ended Equity Linked Savings Scheme With A Statutory Lock In Of 3 Years And Tax Benefit) INVESTMENT OBJECTIVE: To generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities. However, there can be no assurance that the investment objective of the Scheme will be achieved. DATE OF ALLOTMENT 29th December 2009 MONTHLY AVERAGE 17, Cr. 17, Cr. S&P BSE 200 Instrument Type/Issuer Name Industry % OF EQUITY 92.99% HDFC Bank Limited Banks 8.80% Tata Consultancy Services Limited Software 8.29% Kotak Mahindra Bank Limited Banks 6.79% Pidilite Industries Limited Chemicals 6.40% STATISTICAL MEASURES (3 YEARS) Standard % Deviation Beta Sharpe Ratio** TURNOVER* (1 YEAR) 1.07 times Mr. Jinesh Gopani Work experience: 17 years. He has been managing this fund since 1st April 2011 Maruti Suzuki India Limited Auto 5.77% Bajaj Finance Limited Finance 5.50% HDFC Limited Finance 5.31% Gruh Finance Limited Finance 4.08% Avenue Supermarts Limited Retailing 4.08% SECTOR ALLOCATION PERFORMANCE (as on 30th November 2018) DIVIDENDS Financial Services Automobile IT Consumer Goods Chemicals 6.40 Pharma 3.30 Energy 3.19 Industrial Manufacturing 2.88 Construction 2.02 Textiles 0.82 Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- Regular Plan Direct Plan s Record Date Mar 22, Jan 31, Regular Jan 25, Dividend Jan 22, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Data as on 30th. ` 10,000 Date of inception Axis Long Term Equity Fund - Growth 5.82% 10, % 14, % 25, % 42,559 S&P BSE 200 (Benchmark) 3.54% 10, % 14, % 20, % 24, Dec-09 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 23,382 Axis Long Term Equity Fund - Direct Plan - Growth 6.90% 10, % 14, % 26, % 30,535 S&P BSE 200 (Benchmark) 3.54% 10, % 14, % 20, % 20, Jan-13 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 19,683 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Jinesh Gopani is managing the scheme since 1st April 2011and he manages 5 schemes of Axis Mutual Fund. Please refer to annexure on Page 38 for performance of all schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). Bandhan Bank Limited Banks 3.46% TTK Prestige Limited Consumer 3.34% Eicher Motors Limited Auto 3.24% Torrent Power Limited Power 3.19% Info Edge (India) Limited Software 2.68% Sundaram Finance Limited Finance 2.27% Sun Pharmaceutical Industries Limited Pharmaceuticals 2.15% WABCO India Limited Auto Ancillaries 2.04% Larsen & Toubro Limited Construction Project 2.02% Motherson Sumi Systems Limited Auto Ancillaries 2.02% Symphony Limited Consumer 1.44% Nestle India Limited 1.39% Astral Poly Technik Limited Industrial Products 1.29% Endurance Technologies Limited Auto Ancillaries 1.29% Cummins India Limited Industrial Products 0.97% Divi's Laboratories Limited Pharmaceuticals 0.87% ICICI Bank Limited Banks 0.86% Page Industries Limited Textile Products 0.82% Varroc Engineering Limited Auto Ancillaries 0.70% Multi Commodity Exchange of India Limited V-Guard Industries Limited Finance 0.69% Industrial Capital Goods 0.62% Mas Financial Services Limited Finance 0.62% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.52% DEBT, CASH & OTHER CURRENT ASSETS 6.50% GRAND TOTAL % Entry Load : NA Exit Load : NIL **Risk-free rate assumed to be 6.55% (MIBOR as on ) - Source: Please note that as per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns (absolute) for last 3 years. Data as on 30th. Source: ACEMF *Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. 11 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

12 AXIS MULTICAP FUND (An Open-Ended Equity Scheme Investing Across Large Cap, Mid Cap, Small Cap Stocks.) INVESTMENT OBJECTIVE: To generate long term capital appreciation by investing in a diversified portfolio of equity and equity related struments across market capitalization. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. DATE OF ALLOTMENT 20th November 2017 MONTHLY AVERAGE 2, Cr. 2, Cr. Nifty 500 Index Instrument Type/Issuer Name Industry % OF EQUITY 82.77% HDFC Bank Limited Banks 10.42% Bajaj Finance Limited Finance 8.00% Kotak Mahindra Bank Limited Banks 7.99% Maruti Suzuki India Limited Auto 5.73% Mr. Shreyash Devalkar Work experience: 17 years. He has been managing this fund since inception. Nifty 50 Index Index 5.37% Tata Consultancy Services Limited Software 4.83% ICICI Bank Limited Banks 4.37% Avenue Supermarts Limited Retailing 4.25% Hindustan Unilever Limited 3.31% SECTOR ALLOCATION Financial Services Consumer Goods IT 7.44 Automobile 6.99 Chemicals 2.89 Industrial Manufacturing 2.06 Energy 1.49 Pharma 1.45 Construction 1.30 Textiles 1.11 HDFC Limited Finance 3.14% Pidilite Industries Limited Chemicals 2.89% Titan Company Limited Consumer 2.80% Bandhan Bank Limited Banks 2.79% Nestle India Limited 2.74% Infosys Limited Software 2.01% Asian Paints Limited 1.58% Reliance Industries Limited Petroleum Products 1.49% Divi's Laboratories Limited Pharmaceuticals 1.45% PERFORMANCE (as on 30th November 2018) Britannia Industries Limited 1.34% Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- ` 10,000 Date of inception Axis Multicap Fund - Growth 8.11% 10,811 NA NA NA NA 7.78% 10, Nov-17 Nifty 500 (Benchmark) 0.74% 10,074 NA NA NA NA 0.64% 10,066 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.87% 10,707 Axis Multicap Fund - Direct Plan - Growth 10.01% 11,001 NA NA NA NA 9.62% 10, Nov-17 Nifty 500 (Benchmark) 0.74% 10,074 NA NA NA NA 0.64% 10,066 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.87% 10,707 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. The performance data for 3 and 5 years period has not been provided, since scheme is in existence for less than 3 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Shreyash Devalkar is managing the scheme since 20th Nov 2017 and he manages 5 schemes of A xis Mutual Fund. Please refer to annexure on Page 38 for performance of all schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). Larsen & Toubro Limited Construction Project 1.30% V-Guard Industries Limited Industrial Capital Goods 1.18% Page Industries Limited Textile Products 1.11% Astral Poly Technik Limited Industrial Products 0.88% Varroc Engineering Limited Auto Ancillaries 0.70% Wipro Limited Software 0.60% Mahindra & Mahindra Limited Auto 0.50% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.29 DEBT, CASH & OTHER CURRENT ASSETS 16.94% GRAND TOTAL % Entry Load : NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment: For 10% of investment: NIL For remaining investment: 1% If redeemed / switched - out after 12 months from the date of allotment: Nil 12 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

13 FIXED INCOME D E C E M B E R % 4.88% 6.50% 7.08% 10 yr G-Sec : Last 1 year 3.31% CPI Inflation : Last 1 year 6.00% Repo : Last 1 year QUICK TAKE Oil & Rupee have seen a significant retracement, which is a sentimental positive for the economy. Q2 GDP numbers are the effect of base impact and should not be read into as poor numbers. Key Events During the Month Currency & Oil : Crude oil saw its worst month in more than a decade as global politics and supply concerns saw crude tumble to its lowest levels this year. Significant production ramp over the last few quarters led the US to dethrone Saudi Arabia & Russia as the world s largest oil producer in October The India crude basket ended the month at US$ 58.56/barrel down 23% this month. The INR also saw significant strength on the back of this to end the month at Year at 7.60% : The benchmark yield on the 10 Year G-Sec fell 15bps during the month from 7.85% to 7.60%. Bond markets continued to remain volatile as recoveries in crude and the currency gave the markets some respite in an o t h e r w i s e v o l a t i l e environment. FPIs returned to the market with a Rs 5,600 Cr inflow this month 10 YEAR G-SEC YIELD 7.60% India Q2 GDP Numbers : Q2 FY19 GDP growth came in at 7.1% missing analysts estimates. The unexpected slowdown in GDP growth comes despite robust high frequency data and reasonable corporate earnings. The growth has largely been supported by governmentenabled construction activity, electricity and public spending. Inflation Remains Benign : Consumer price inflation eased to 3.31% in October from a downward revised print of 3.7% in September. Modest food inflation continues to be reason for lower than expected retail inflation. Core inflation, however, rose above 6 percent in October. CPI inflation has been persistently below RBI s estimates. This is likely to reduce the pressure on RBI to raise rates. Eye on RBI & the Fisc : Falling crude prices and tepid inflation numbers are likely to be the focal points of RBI s bi-monthly monetary policy committee meeting next week. Lower GST collection coupled with rising public expenditure in election season is likely to put pressure on the government s fiscal math. Market Liquidity : Debt market liquidity hobbled back to normalcy as NBFC s and HFC s returned to the markets to raise fresh borrowing. Rates across the CP & CD markets returned to pre-il&fs levels as confidence was restored by issuer buybacks and regulatory intervention. Global Action Positive for Ems : On the global front, The US & China agreed to a temporary truce on the side lines of the G-20 summit. This likely reduction in trade hostilities is seen as the first step to normalization of trade relations between the two largest trading partners. The US fed hinted at a dovish stance as it pointed to fewer rate hikes in the months to come spurring EM currencies and bonds. 13 Long bonds are likely to trade range bound. Short tenor bonds look attractive from a risk reward perspective. We continue to advise investors to stay invested in short to medium term strategies and actively look at credit funds. Market View Crude has been an impediment to the India story over the past few quarters. Last month s outsized fall has been positive for the economy given the import reliance. This has reflected in the fall in rates and the currency. Any material up move from current levels is likely to be seen as negative for the economy. Q2 GDP numbers have to be seen in context of a normalizing base post the GST implementation last year. While the full impact of GST on the GDP base has not been captured, we anticipate the high crude oil prices during the quarter may have exasperated the downtick. The long term story continues to remain intact given the strong high frequency numbers and strong corporate earnings. Since April 2018, the RBI has conducted OMOs to the tune of 1,36,000 Cr and a likely additional Rs 40,000 Cr in December 2018 in an attempt to alleviate liquidity concerns in the markets. This has propped up bond markets. The fall in the currency may minimize RBI intervention given the rupee is now at a comfortable level, further minimizing the need for OMOs. However, Q4 is typically a tight quarter and additional liquidity pressures may arise. We do not believe that there is a material risk of financial instability and hence the RBI is likely to continue to focus on inflation trajectory. With the current inflation trajectory, we feel that the average inflation for the year would be around 5% band and hence we don't feel terminal repo rate to be above % till March Hence we feel RBI will at max bps rate hikes in next 6-12 months. Long bonds are likely to remain in a range of 7.60% % on the 10-year G-Sec. ly, the curve offers significant opportunities from investment perspective as markets are pricing in more than 1 hike till March Corporate bonds in the 1-3-year space currently trade at a premium of 200 bps over the operative rate which we believe offers significant opportunities and thus prefer this space. RESPONSIBLE INVESTING TIP FOR THE MONTH Distributors Investors may worry - Calm your investors, corrections are ideal entry points for long term investors. Effective Portfolio Management Key. Investors trust you. Be Responsible! Investors Select a fund that meets your risk profile. Investing in credits is all about process. Select a fund house with a robust investment process and credit management system. Source: Bloomberg, Axis MF Research.

14 AXIS LIQUID FUND (An Open-Ended Liquid Scheme) INVESTMENT OBJECTIVE: To provide a high level of liquidity with reasonable returns commensurating with low risk through a portfolio of money market and debt securities. However, there can be no assurance that the investment objective of the Scheme will be achieved. DATE OF ALLOTMENT 9th October 2009 AVERAGE MATURITY* 42 days MODIFIED DURATION* 39 days YIELD (YIELD TO MATURITY & ) 7.35% ^^ MONTHLY AVERAGE 20, Cr. 23, Cr. Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 5th November NIFTY Liquid Index Mr. Aditya Pagaria Work experience: 11 years. He has been managing this fund since 13th August COMPOSITION BY ASSETS COMPOSITION BY RATING Commercial Paper 85.92% AAA, SOV & Equivalent % Treasury Bill 10.77% Certificate of Deposit 9.07% Corporate Bond 0.11% Net Assets -5.86% PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception DIVIDENDS ` 10,000/- Regular Plan Retail Plan Direct Plan Dividend (` Per Dividend (` Per Dividend (` Per unit) unit) unit) s Record Date Nov 26, , , , , , , Monthly Oct 25, , , , , , , Dividend Sep 25, , , , , , , Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` Dividends disclosed above are since the inception of the fund. ` 10,000 Date of inception Axis Liquid Fund - Growth 7.37% 10, % 12, % 14, % 20,155 NIFTY Liquid Index (Benchmark) 7.25% 10, % 12, % 14, % 20,056 NIFTY 1 Year T-Bill Index (Additional 7.10% 10, % 12, % 14, % 18, Oct-09 Benchmark) Axis Liquid Fund - Direct Plan - Growth 7.43% 10, % 12, % 14, % 15,895 NIFTY Liquid Index (Benchmark) 7.25% 10, % 12, % 14, % 15,729 NIFTY 1 Year T-Bill Index (Additional 7.10% 10, % 12, % 14, % 15, Dec-12 Benchmark) Axis Liquid Fund - Retail - Growth 6.75% 10, % 12, % 14, % 19,062 NIFTY Liquid Index (Benchmark) 7.25% 10, % 12, % 14, % 19,787 NIFTY 1 Year T-Bill Index (Additional 7.10% 10, % 12, % 14, % 18, Mar-10 Benchmark) Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 1,000 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 33 schemes & Aditya Pagaria is managing the scheme since 13th August 2016 and he manages 5 schemes. Please refer to annexure on Page for performance of schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). RATING % Of COMMERCIAL PAPER 85.92% NABARD ICRA A % Indian Oil Corporation Limited ICRA A % National Housing Bank CRISIL A % HDFC Limited CRISIL A % Reliance Jio Infocomm Limited CRISIL A1+/ ICRA A % NTPC Limited CRISIL A % Reliance Retail Ltd CRISIL A % Chennai Petroleum Corporation Limited CRISIL A % UltraTech Cement Limited CRISIL A % Vedanta Limited CRISIL A % Aditya Birla Finance Limited ICRA A % Infina Finance Private Limited CRISIL A % Cholamandalam Investment and Finance Company Limited CRISIL A % Bamnipal Steel Limited IND A % Grasim Industries Limited CRISIL A % Sun Pharmaceutical Industries Limited CRISIL A % Bajaj Finance Limited CRISIL A % Mahindra & Mahindra Financial Services Limited CRISIL A % Indus Towers Limited CRISIL A % Power Finance Corporation Limited CRISIL A % Tata Motors Limited ICRA A1+/ CRISIL A % Aditya Birla Fashion and Retail Limited CRISIL A % Piramal Capital & Housing Finance Limited CRISIL A % SBI Cards & Payment Services Pvt Limited CRISIL A % Daimler Financial Services India Pvt Limited CRISIL A % L&T Finance Limited ICRA A % Tata Capital Financial Services Limited CRISIL A % Tata Motors Finance Limited ICRA A % Aditya Birla Housing Finance Limited ICRA A % Tata Capital Housing Finance Limited CRISIL A % Shriram Transport Finance Company Limited CRISIL A % Bahadur Chand Investments Pvt Limited ICRA A % India Infoline Finance Limited CRISIL A % Bharti Airtel Limited CRISIL A % Network18 Media & Investments Limited ICRA A % Hinduja Leyland Finance Limited CRISIL A % Aditya Birla Capital Limited CRISIL A1+/ ICRA A % Talwandi Sabo Power Limited CRISIL A % IIFL Home Finance Limited CRISIL A % Magma Fincorp Limited CARE A % TV Sundram Iyengar & Sons Pvt Ltd ICRA A % LIC Housing Finance Limited CRISIL A % Tata Power Renewable Energy Limited CRISIL A % JM Financial Products Limited ICRA A % ICICI Home Finance Company Limited ICRA A % Reliance Industries Limited CRISIL A % Muthoot Finance Limited CRISIL A % Mahindra Rural Housing Finance IND A % Tata Power Solar Systems Limited CRISIL A1+(SO) 0.31% CEAT Limited CARE A % Varroc Engineering Limited ICRA A % Godrej Industries Limited CRISIL A % JSW Steel Limited ICRA A % Piramal Enterprises Limited ICRA A % Hindustan Zinc Limited CRISIL A % TREASURY BILL 10.77% 182 Days Tbill SOVEREIGN 2.55% 91 Days Tbill SOVEREIGN 7.73% 59 Days CMB SOVEREIGN 0.49% CERTIFICATE OF DEPOSIT 9.07% IDFC Bank Limited ICRA A % Vijaya Bank CARE A % ICICI Bank Limited ICRA A % IndusInd Bank Limited CRISIL A % The Federal Bank Limited CRISIL A % Indian Bank IND A % CORPORATE BOND 0.11% Power Finance Corporation Limited CRISIL AAA 0.11% NET CURRENT ASSETS -5.86% GRAND TOTAL % Entry Load : NA Exit Load : NIL * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. 14 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

15 AXIS ULTRA SHORT TERM FUND (An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months) INVESTMENT OBJECTIVE: The investment objective of the Scheme is to generate regular income and capital appreciation by investing in a portfolio of short term debt and money market instruments with relatively lower interest rate risk such that Macaulay duration of the portfolio is between 3 months and 6 months. DATE OF ALLOTMENT 10th September 2018 Entry Load :NA Exit Load : Nil s Monthly Dividend AVERAGE MATURITY* 141 days MODIFIED DURATION* 128 days YIELD (YIELD TO MATURITY & ) 8.60% DIVIDENDS Record Date MONTHLY AVERAGE Cr Cr. Regular Plan Mr. Aditya Pagaria Work experience: 11 years. CRISIL Ultra Short Term Debt Index He has been managing this fund since inception. COMPOSITION BY ASSETS COMPOSITION BY RATING Corporate Bond 34.13% AAA, SOV & Equivalent 79.03% Commercial Paper 34.16% A+ 5.86% Zero Coupon Bond 11.19% AA 4.89% Pass Through Certificate 6.93% AA+ 4.86% Certificate of Deposit 5.53% AA- 3.33% Reduced Face Value Bonds - Non A 2.02% 1.97% Amortisation Net Assets 6.10% Direct Plan Nov 26, Oct 25, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. RATING % Of CORPORATE BOND 34.13% Power Finance Corporation Limited CRISIL AAA 4.93% Daimler Financial Services India Pvt Limited IND AAA 4.92% LIC Housing Finance Limited CRISIL AAA 4.92% Edelweiss Commodities Services Limited CRISIL AA/ICRA AA 4.89% Vodafone Mobile Services Limited CRISIL A+ 2.52% Tata Sons Ltd CRISIL AAA 1.98% Aasan Corporate Solutions Private Limited ICRA AA-(SO) 1.97% Cholamandalam Investment and Finance Company Limited ICRA AA+ 1.97% Shriram Transport Finance Company Limited IND AA+ 1.93% National Housing Bank CRISIL AAA 1.38% IndoStar Capital Finance Limited CARE AA- 1.37% Northern Arc Capital Limited ICRA A+ 1.37% COMMERCIAL PAPER 34.16% Piramal Enterprises Limited ICRA A % Reliance Jio Infocomm Limited CRISIL A % ReNew Solar Power Private Limited CARE A1+(SO) 4.90% HDFC Limited CRISIL A % TV Sundram Iyengar & Sons Pvt Ltd ICRA A % Tata Power Solar Systems Limited CRISIL A1+(SO) 2.90% JSW Steel Limited ICRA A % IndoStar Capital Finance Limited CRISIL A % Talwandi Sabo Power Limited CRISIL A1+(SO) 0.98% Aditya Birla Fashion and Retail Limited CRISIL A % Tata Motors Finance Limited CRISIL A % Tata Power Company Limited CRISIL A % ZERO COUPON BOND 11.19% Dewan Housing Finance Corporation Limited CARE AAA 4.71% Mahindra & Mahindra Financial Services Limited CARE AAA 3.49% JSW Techno Projects Management Limited BWR A(SO) 2.02% IDFC Bank Limited ICRA AA+ 0.97% PASS THROUGH CERTIFICATE 6.93% Rent-A-Device Trust ICRA AAA(SO) 2.66% MFL Securitisation Trust CRISIL AAA(SO) 2.53% Rainbow Devices Trust ICRA AAA(SO) 1.73% CERTIFICATE OF DEPOSIT 5.53% ICICI Bank Limited ICRA A % Equitas Small Finance Bank Limited CRISIL A % Ujjivan Small Finance Bank Limited CRISIL A % REDUCED FACE VALUE BONDS - NON AMORTISATION 1.97% Asirvad Microfinance Ltd CRISIL A+ 1.97% NET CURRENT ASSETS 6.10% GRAND TOTAL % * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Since scheme has not completed one year, performance details for the same are not provided. 15 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

16 AXIS TREASURY ADVANTAGE FUND (An Open Ended Low Duration Debt Scheme Investing In Instruments Such That The Macaulay Duration Of The Portfolio Is Between 6 To 12 Months) INVESTMENT OBJECTIVE: To provide optimal returns and liquidity to the investors by investing primarily in a mix of money market and short term debt instruments which results in a portfolio having marginally higher maturity as compared to a liquid fund at the same time maintaining a balance between safety and liquidity. However, there can be no assurance that the investment objective of the Scheme will be achieved. NIFTY Low Duration Debt Index Nov 26, , , , , , , Monthly Oct 25, , , , , , , Dividend Sep 25, , , , , , , Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` Dividends disclosed above are since the inception of the fund. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. DATE OF ALLOTMENT MONTHLY AVERAGE RATING % Of 9th October , Cr. COMMERCIAL PAPER 31.82% 1, Cr. Reliance Industries Limited Larsen & Toubro Limited CRISIL A1+ CRISIL A % 5.23% JSW Steel Limited ICRA A1+/CARE A % HDFC Limited CRISIL A % Indiabulls Housing Finance Limited CRISIL A % Reliance Retail Ltd CRISIL A % AVERAGE MATURITY * LIC Housing Finance Limited CRISIL A % 214 days Edelweiss Commodities Services Limited CRISIL A % MODIFIED DURATION * Mr. Devang Shah Mr. Aditya Pagaria Bharti Airtel Limited CRISIL A % 191 days Work experience: 14 years. Work experience: 11 years. YIELD He has been managing this fund since He has been managing this fund since Piramal Enterprises Limited ICRA A % (YIELD TO MATURITY & ) 8.37% 07th June th August Reliance Jio Infocomm Limited CRISIL A % Tata Motors Limited ICRA A % CORPORATE BOND 34.38% Power Finance Corporation Limited CRISIL AAA 7.01% Piramal Capital & Housing Finance Limited ICRA AA+ 3.20% Hinduja Leyland Finance Limited CARE AA- 2.67% LIC Housing Finance Limited CRISIL AAA 2.67% Reliance Jio Infocomm Limited CRISIL AAA 2.66% India Infoline Finance Limited ICRA AA 1.81% Indiabulls Housing Finance Limited BWR AAA 1.70% Muthoot Finance Limited CRISIL AA 1.67% COMPOSITION BY ASSETS COMPOSITION BY RATING Shriram Transport Finance Company Limited IND AA+ 1.57% Corporate Bond 34.38% AAA, SOV & Equivalent 82.63% Small Industries Dev Bank of India CARE AAA 1.44% Commercial Paper 31.82% AA 7.69% HDFC Limited CRISIL AAA 1.38% Certificate of Deposit 14.99% AA+ 7.00% Edelweiss Commodities Services Limited CRISIL AA 1.33% Zero Coupon Bond 8.93% AA- 2.67% ICICI Home Finance Company Limited ICRA AAA 1.30% Government Bond 1.33% Pass Through Certificate 0.48% Dewan Housing Finance Corporation Net Assets 8.08% Limited BWR AAA 1.07% Adani Transmission Limited IND AA+ 0.80% Mahindra Rural Housing Finance IND AA+ 0.76% PERFORMANCE (as on 30th November 2018) NHPC Limited ICRA AAA 0.52% Power Grid Corporation of India Limited CRISIL AAA 0.27% Export Import Bank of India CRISIL AAA 0.26% Period Date 1 Year 3 Years 5 Years Since Inception REC Limited CRISIL AAA 0.19% Indian Railway Finance Corporation Limited CRISIL AAA 0.11% Date of inception CERTIFICATE OF DEPOSIT 14.99% ` 10,000/- ` 10,000 IndusInd Bank Limited CRISIL A % Axis Treasury Advantage Fund - Growth 6.82% 10, % 12, % 14, % 20,233 ICICI Bank Limited ICRA A % NIFTY Low Duration Debt Index (Benchmark) 6.80% 10, % 12, % 14, % 20, Oct-09 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,350 NABARD CRISIL A % Axis Treasury Advantage Fund - Direct Plan - Growth 7.38% 10, % 12, % 14, % 16,254 Small Industries Dev Bank of India CARE A % NIFTY Low Duration Debt Index (Benchmark) 6.80% 10, % 12, % 14, % 15, Jan-13 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,376 HDFC Bank Limited ICRA A % Axis Treasury Advantage Fund - Retail - Growth 6.63% 10, % 12, % 14, % 18,934 NIFTY Low Duration Debt Index (Benchmark) 6.80% 10, % 12, % 14, % 20, Mar-10 ZERO COUPON BOND 8.93% NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,082 Dewan Housing Finance Corporation Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 1,000 invested at inception. Different plans have different expense Limited structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 7th June 2016 and he manages 33 schemes & Aditya Pagaria is managing the scheme since CARE AAA 5.37% 13th August 2016 and he manages 5 schemes. Please refer to annexure on for performance of schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). TMF Holdings Limited CRISIL AA 1.53% JM Financial Products Limited CRISIL AA 0.81% DIVIDENDS IDFC Bank Limited ICRA AA+ 0.67% IIFL Home Finance Limited CRISIL AA 0.54% Regular Plan Retail Plan Direct Plan GOVERNMENT BOND 1.33% Dividend (` Per Dividend (` Per Dividend (` Per unit) unit) unit) 7.37% GOI (MD 16/04/2023) Sovereign 1.33% s Record Date PASS THROUGH CERTIFICATE 0.48% Rainbow Devices Trust ICRA AAA(SO) 0.48% NET CURRENT ASSETS 8.08% GRAND TOTAL % Entry Load :NA Exit Load : Nil 16 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

17 AXIS SHORT TERM FUND (An Open Ended Short Term Debt Scheme Investing In Instruments Such That The Macaulay Duration Of The Portfolio Is Between 1 Year To 3 Years) INVESTMENT OBJECTIVE: To generate stable returns with a low risk strategy while maintaining liquidity through a portfolio comprising of debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be achieved. DATE OF ALLOTMENT 22nd January 2010 AVERAGE MATURITY * 1.6 years MODIFIED DURATION * 1.3 years YIELD (YIELD TO MATURITY & ) 8.57% COMPOSITION BY ASSETS Corporate Bond 61.84% Commercial Paper 14.01% Government Bond 4.43% Certificate of Deposit 4.31% Zero Coupon Bond 4.24% Pass Through Certificate 3.61% State Government Bond 0.62% Treasury Bill 0.44% Net Assets 6.49% DIVIDENDS MONTHLY AVERAGE 4, Cr. 4, Cr. PERFORMANCE (as on 30th November 2018) Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 5th November NIFTY Short Duration Debt Index COMPOSITION BY RATING AAA, SOV & Equivalent 91.06% AA+ 6.30% AA 2.63% Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- Regular Plan Retail Plan Direct Plan s Record Date Nov 26, Oct 25, Monthly Sep 25, Dividend Aug 27, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. ` 10,000 Date of inception Axis Short Term Fund - Growth 5.36% 10, % 12, % 14, % 19,550 NIFTY Short Duration Debt Index (Benchmark) 5.67% 10, % 12, % 14, % 19, Jan-10 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,112 Axis Short Term Fund - Direct Plan - Growth 6.10% 10, % 12, % 15, % 16,345 NIFTY Short Duration Debt Index (Benchmark) 5.67% 10, % 12, % 14, % 15, Jan-13 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,376 Axis Short Term Fund - Retail - Growth 5.36% 10, % 12, % 14, % 19,330 NIFTY Short Duration Debt Index (Benchmark) 5.67% 10, % 12, % 14, % 19, Mar-10 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,084 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 33 schemes of Axis Mutual Fund. Please refer to annexure on Page for performance of schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). RATING % Of CORPORATE BOND 61.84% Power Finance Corporation Limited CRISIL AAA 9.55% HDFC Limited CRISIL AAA 7.00% REC Limited CRISIL AAA 3.94% Tata Sons Ltd CRISIL AAA 3.74% Reliance Jio Infocomm Limited CRISIL AAA 3.58% Reliance Industries Limited CRISIL AAA 3.57% NABARD IND AAA/CRISIL AAA 3.43% LIC Housing Finance Limited CRISIL AAA 3.11% Jamnagar Utilities & Power Private Limited CRISIL AAA 2.33% Mahindra & Mahindra Financial Services Limited IND AAA 1.93% Tata Capital Financial Services Limited ICRA AAA/CRISIL AAA 1.82% Cholamandalam Investment and Finance Company Limited ICRA AA+ 1.66% NRSS XXIX Transmission Limited CRISIL AAA 1.59% Muthoot Finance Limited CRISIL AA 1.48% Indiabulls Housing Finance Limited BWR AAA 1.48% Small Industries Dev Bank of India CARE AAA 1.22% L&T Housing Finance CARE AAA 1.20% Nirma Limited CRISIL AA 1.03% Shriram Transport Finance Company Limited CRISIL AA+ 1.00% Gruh Finance Limited CRISIL AAA 0.96% IDFC Bank Limited ICRA AA+ 0.85% Power Grid Corporation of India Limited CRISIL AAA 0.61% Tata Motors Limited CARE AA+ 0.61% Mahindra Rural Housing Finance CRISIL AA+ 0.61% Oriental Nagpur Betul Highway Limited CRISIL AAA(SO) 0.60% NHPC Limited ICRA AAA 0.43% Dewan Housing Finance Corporation Limited BWR AAA 0.38% Sikka Ports and Terminals Limited CRISIL AAA 0.38% Adani Transmission Limited IND AA+ 0.37% L&T Infrastructure Finance Company Limited CARE AAA 0.37% HDB Financial Services Limited CRISIL AAA 0.35% Bajaj Finance Limited CARE AAA 0.27% Bhopal Dhule Transmission Company Limited CRISIL AAA 0.24% Bharti Airtel Limited CRISIL AA 0.12% Export Import Bank of India CRISIL AAA 0.01% COMMERCIAL PAPER 14.01% NABARD ICRA A % Reliance Industries Limited CRISIL A % Indiabulls Housing Finance Limited CRISIL A % Bharti Airtel Limited CRISIL A % LIC Housing Finance Limited CRISIL A % JSW Steel Limited ICRA A % Dewan Housing Finance Corporation Limited CRISIL A % Housing Development Finance Corporation Limited CRISIL A % Reliance Jio Infocomm Limited CRISIL A % ZERO COUPON BOND 4.24% Dewan Housing Finance Corporation Limited CARE AAA 1.68% IDFC Bank Limited ICRA AA+ 1.20% Mahindra & Mahindra Financial Services Limited CARE AAA/IND AAA 1.01% Kotak Mahindra Prime Limited CRISIL AAA 0.31% Axis Finance Limited IND AAA 0.03% HDB Financial Services Limited CRISIL AAA 0.01% GOVERNMENT BOND 4.43% 7.37% GOI (MD 16/04/2023) Sovereign 1.96% 8.12% GOI (MD 10/12/2020) Sovereign 0.50% 6.79% GOI (MD 15/05/2027) Sovereign 0.31% 8.13% GOI (MD 22/06/2045) Sovereign 0.25% 7.68% GOI (MD 15/12/2023) Sovereign 0.25% 7.88% GOI (MD 19/03/2030) Sovereign 0.25% 7.59% GOI(MD 11/01/2026) Sovereign 0.23% 9.20% GOI (MD 30/09/2030) Sovereign 0.14% 6.65% GOI (MD 09/04/2020) Sovereign 0.12% 7.17% GOI (MD 08/01/2028) Sovereign 0.12% 7.73% GOI (MD 19/12/2034) Sovereign 0.10% 8.83% GOI (MD 25/11/2023) Sovereign 0.08% 8.15% GOI (MD 24/11/2026) Sovereign 0.05% 7.35% GOI (MD 22/06/2024) Sovereign 0.05% 6.79% GOI (MD 26/12/2029) Sovereign 0.02% 8.35% GOI (MD 14/05/2022) Sovereign 0.01% 7.59% GOI (MD 20/03/2029) Sovereign 0.00% CERTIFICATE OF DEPOSIT 4.31% ICICI Bank Limited ICRA A % Export Import Bank of India CRISIL A % PASS THROUGH CERTIFICATE 3.61% RENT-A-DEVICE TRUST ICRA AAA(SO) 1.58% Rainbow Devices Trust ICRA AAA(SO) 1.54% Sansar Trust ICRA AAA(SO) 0.49% STATE GOVERNMENT BOND 0.62% 8.66% TAMILNADU SDL (MD 25/01/2022) Sovereign 0.45% 8.15% RAJASTHAN UDAY BOND (MD 23/06/2021) Sovereign 0.07% 6.92% MAHARASTRA SDL(MD 11/01/2022) Sovereign 0.05% 8.21% HARYANA UDAY BOND (MD 31/03/2022) Sovereign 0.02% 8.27% RAJASTHAN UDAY BOND (MD 23/06/2023) Sovereign 0.02% 8.61% UTTAR PRADESH UDAY BOND (MD 21/03/2022) Sovereign 0.01% TREASURY BILL 0.44% 182 DAYS TBILL Sovereign 0.12% 364 DAYS TBILL Sovereign 0.32% NET CURRENT ASSETS 6.49% GRAND TOTAL % * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Entry Load :NA Exit Load : Nil 17 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

18 AXIS DYNAMIC BOND FUND (An Open-Ended Dynamic Debt Scheme Investing Across Duration) INVESTMENT OBJECTIVE: To generate optimal returns while maintaining liquidity through active management of a portfolio of debt and money market instruments. DATE OF ALLOTMENT 27th April 2011 MONTHLY AVERAGE Cr Cr. NIFTY Composite Debt Index Instrument Type/Issuer Name RATING % Of CORPORATE BOND 43.50% Reliance Jio Infocomm Limited CRISIL AAA 8.45% Union Bank of India BWR AA 7.14% Punjab National Bank IND A+ 7.10% State Bank of India CRISIL AAA 6.88% AVERAGE MATURITY* 5.8 years MODIFIED DURATION* 4 years YIELD (YIELD TO MATURITY & ) 8.94% Mr. R. Sivakumar Work experience: 20 years. He has been managing this fund since inception Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 5th November Syndicate Bank CARE A+ 5.28% Renew Power Limited CARE A+ 3.38% Tata Power Company Limited CRISIL AA- 2.81% India Infrastructure Fin Co Ltd CRISIL AAA 1.79% Suhani Trading And Investment Consultants Private Limited BWR A+(SO) 0.67% GOVERNMENT BOND 42.93% 7.17% GOI (MD 08/01/2028) Sovereign 40.21% 7.68% GOI (MD 15/12/2023) Sovereign 1.37% 8.35% GOI (MD 14/05/2022) Sovereign 0.70% 6.79% GOI (MD 15/05/2027) Sovereign 0.44% 8.60% GOI (MD 02/06/2028) Sovereign 0.22% PASS THROUGH CERTIFICATE 6.71% COMPOSITION BY ASSETS COMPOSITION BY RATING Corporate Bond 43.50% AAA, SOV & Equivalent 69.55% Government Bond 42.93% A % Pass Through Certificate 6.71% AA 7.14% AA- 3.70% Reduced Face Value Bonds - Non Amortisation 1.18% A- 2.00% Net Assets 5.68% A 1.18% PERFORMANCE (as on 30th November 2018) IIERT TRUST CRISIL AAA(SO) 3.82% Zenith Trust ICRA A-(SO) 2.00% Solstice Trust ICRA AA-(SO) 0.90% REDUCED FACE VALUE BONDS - NON AMORTISATION 1.18% Ess Kay Fincorp Limited IND A(SO) 1.18% NET CURRENT ASSETS 5.68% GRAND TOTAL % Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- ` 10,000 Date of inception Axis Dynamic Bond Fund - Growth 4.65% 10, % 12, % 15, % 18,243 NIFTY Composite Debt Index (Benchmark) 3.70% 10, % 12, % 15, % 18,103 NIFTY 10 yr Benchmark G-Sec (Additional 2.58% 10, % 12, % 14, % 16, Apr-11 Benchmark) Axis Dynamic Bond Fund - Direct Plan - Growth 5.58% 10, % 12, % 15, % 16,711 NIFTY Composite Debt Index (Benchmark) 3.70% 10, % 12, % 15, % 15,620 NIFTY 10 yr Benchmark G-Sec (Additional 2.58% 10, % 12, % 14, % 14, Jan-13 Benchmark) Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Calculations are based on Growth. Since inception returns are calculated at Rs.10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. R. Sivakumar is managing the scheme since inception and he manages 7 schemes & Devang Shah is managing the schmes since 5th November 2012 and he manages 33 schemes. Please refer to annexure on Page 38&40 for performance of schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). s DIVIDENDS Record Date Regular Plan Direct Plan Sep 25, Mar 26, Half Yearly Dividend Sep 25, Mar 27, Sep 25, Quarterly Dividend Jun 25, Mar 26, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Half Yearly Dividends disclosed above are for the last 2 Years. Quarterly Dividends disclosed above are for the last 3 quarters. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Entry Load :NA Exit Load : Nil 18 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

19 AXIS CORPORATE DEBT FUND (An Open Ended Debt Scheme Predominantly Investing In AA+ And Above Rated Corporate Bonds) INVESTMENT OBJECTIVE: The Scheme seeks to provide steady income and capital appreciation by investing in corporate debt. There is no assurance or guarantee that the objectives of the Scheme will be realized. DATE OF ALLOTMENT 13th July 2017 MONTHLY AVERAGE Cr Cr. NIFTY Corporate Bond Index Instrument Type/Issuer Name RATING % Of CORPORATE BOND 65.84% National Housing Bank CRISIL AAA 7.97% Dewan Housing Finance Corporation Limited BWR AAA 7.88% Reliance Industries Limited CRISIL AAA 6.73% AVERAGE MATURITY* 1.8 years MODIFIED DURATION* 1.4 years YIELD (YIELD TO MATURITY & ) 9.30% Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 13th July REC Limited CRISIL AAA 6.48% NRSS XXIX Transmission Limited CRISIL AAA 4.43% Indiabulls Housing Finance Limited BWR AAA 4.40% Jamnagar Utilities & Power Private Limited CRISIL AAA 4.38% Magma Fincorp Limited ICRA AA- 4.38% Export Import Bank of India CRISIL AAA 4.36% Suhani Trading And Investment Consultants Private Limited BWR A+(SO) 2.64% COMPOSITION BY ASSETS Corporate Bond 65.84% Commercial Paper 15.04% Pass Through Certificate 4.31% Certificate of Deposit 4.10% Government Bond 1.72% Reduced Face Value Bonds - Non Amortisation 0.77% Net Assets 8.22% COMPOSITION BY RATING AAA, SOV & Equivalent 82.88% A+ 9.54% AA- 5.25% A- 1.56% A 0.77% State Bank of India CRISIL AAA 2.25% Reliance Jio Infocomm Limited CRISIL AAA 2.18% Syndicate Bank CARE A+ 2.16% Punjab National Bank IND A+ 2.11% Northern Arc Capital Limited ICRA A+ 1.76% Renew Power Limited CARE A+ 0.88% IndoStar Capital Finance Limited CARE AA- 0.88% COMMERCIAL PAPER 15.04% Tata Power Solar Systems Limited CRISIL A1+(SO) 4.35% JSW Steel Limited ICRA A % s PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- ` 10,000 Axis Corporate Debt Fund - Growth 7.07% 10,707 NA NA NA NA 7.04% 10,988 NIFTY Corporate Bond Index (Benchmark) 4.67% 10,467 NA NA NA NA 5.01% 10,700 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10,710 NA NA NA NA 6.88% 10,965 Axis Corporate Debt Fund - Direct Plan 8.00% 10,800 NA NA NA NA 7.99% 11,122 NIFTY Corporate Bond Index (Benchmark) 4.67% 10,467 NA NA NA NA 5.01% 10,700 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10,710 NA NA NA NA 6.88% 10,965 DIVIDENDS Record Date Regular Plan Direct Plan Date of inception 13-Jul Jul-17 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. The performance data for 3years & 5 years period has not been provided, since scheme is in existence for less than 3 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the schmes since 13th July 2017 and he manages 33 schemes. Please refer to annexure on Page 39&40 for performance of schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). Nov 26, Oct 25, Monthly Sep 27, Dividend Aug 27, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund.. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio IndoStar Capital Finance Limited CRISIL A % Indiabulls Housing Finance Limited CRISIL A % PASS THROUGH CERTIFICATE 4.31% IIERT TRUST CRISIL AAA(SO) 1.92% Zenith Trust ICRA A-(SO) 1.56% MFL Securitisation Trust CRISIL AAA(SO) 0.83% CERTIFICATE OF DEPOSIT 4.10% Export Import Bank of India CRISIL A % GOVERNMENT BOND 1.72% 7.17% GOI (MD 08/01/2028) Sovereign 1.72% REDUCED FACE VALUE BONDS - NON AMORTISATION 0.77% ESS KAY FINCORP LIMITED IND A(SO) 0.77% NET CURRENT ASSETS 8.22% GRAND TOTAL % Entry Load :NA Exit Load : Nil. (w.e.f. December 3, 2018) 19 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

20 AXIS STRATEGIC BOND FUND (An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 years to 4 years) INVESTMENT OBJECTIVE: To generate optimal returns in the medium term while maintaining liquidity of the portfolio by investing in debt and money market instruments. DATE OF ALLOTMENT 28th March 2012 AVERAGE MATURITY * 2.4 years MODIFIED DURATION * 1.9 years YIELD (YIELD TO MATURITY & ) 9.85% s DIVIDENDS Record Date MONTHLY AVERAGE 1, Cr. 1, Cr. Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 5th November PERFORMANCE (as on 30th November 2018) Regular Plan NIFTY Medium Duration Debt Index Mr Dhaval Patel Work experience: 14 years. He has been co-managing this fund since 1st June 2018 COMPOSITION BY ASSETS COMPOSITION BY RATING Corporate Bond 78.16% AAA, SOV & Equivalent 43.66% Pass Through Certificate 7.45% AA 21.65% Government Bond 5.07% AA % Reduced Face Value Bonds - Non Amortisation 2.92% A % Zero Coupon Bond 2.88% AA+ 3.71% State Government Bond 0.28% A 2.53% Net Assets 3.24% A- 2.26% Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- Direct Plan Half Yearly Dividend Sep 25, Mar 26, Sep 25, Mar 27, Quarterly Dividend Sep 25, Jun 25, Mar 26, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Half yearly dividend disclosed above are since the inception of the fund. Quarterly dividends disclosed above are for the last 3 Quarters. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. ` 10, Date of inception Axis Strategic Bond Fund - Growth 5.70% 10, % 12, % 15, % 17,570 NIFTY Medium Duration Debt Index (Benchmark) 3.98% 10, % 12, % 14, % 17,215 NIFTY 10 yr Benchmark G-Sec (Additional 2.58% 10, % 12, % 14, % 15, Mar-12 Benchmark) Axis Strategic Bond Fund - Direct Plan - Growth 6.44% 10, % 13, % 16, % 17,002 NIFTY Medium Duration Debt Index (Benchmark) 3.98% 10, % 12, % 14, % 15,736 NIFTY 10 yr Benchmark G-Sec (Additional 2.58% 10, % 12, % 14, % 14, Jan-13 Benchmark) Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 33 schemes amd Dhaval Patel schemes is managing the scheme since 1st June 2018 and he manages 1 scheme of Axis Mutual Fund. Please refer to annexure on Page for performance of schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). Instrument Type/Issuer Name RATING % Of CORPORATE BOND 78.16% Indiabulls Housing Finance Limited BWR AAA 4.14% NRSS XXIX Transmission Limited CRISIL AAA 4.02% Reliance Jio Infocomm Limited CRISIL AAA 3.97% Dewan Housing Finance Corporation Limited BWR AAA/CARE AAA 3.38% Oriental Nagpur Betul Highway Limited CRISIL AAA(SO) 3.18% PVR Limited CRISIL AA- 3.17% Renew Power Limited CARE A+ 2.96% Bharti Airtel Limited CRISIL AA 2.93% Jubilant Life Sciences Limited CRISIL AA 2.81% Coastal Gujarat Power Limited CARE AA(SO) 2.80% IndoStar Capital Finance Limited CARE AA- 2.37% ICICI Bank Limited ICRA AA+ 2.35% JM Financial Products Limited CRISIL AA/ICRA AA 2.29% Suhani Trading And Investment Consultants Private Limited BWR A+(SO) 2.23% Bhopal Dhule Transmission Company Limited CRISIL AAA 2.19% Housing Development Finance Corporation Limited CRISIL AAA 2.01% JK Lakshmi Cement Limited CARE AA- 2.00% Muthoot Finance Limited CRISIL AA 1.94% REC Limited CRISIL AAA 1.90% Punjab National Bank IND A+ 1.84% Bank of Baroda CARE AA 1.80% Union Bank of India BWR AA 1.77% Vijaya Bank ICRA AA- 1.76% Reliance Industries Limited CRISIL AAA 1.63% Northern Arc Capital Limited ICRA A+ 1.59% Syndicate Bank CARE A+ 1.41% Power Finance Corporation Limited CRISIL AAA 1.38% Piramal Capital & Housing Finance Limited ICRA AA+ 1.36% Talwandi Sabo Power Limited CRISIL AA(SO) 1.30% Aasan Corporate Solutions Private Limited ICRA AA-(SO) 1.20% Dalmia Cement (Bharat) Limited ICRA AA 1.19% Vedanta Limited CRISIL AA 0.96% Vodafone Mobile Services Limited CRISIL A+ 0.95% State Bank of India CRISIL AAA 0.82% Gruh Finance Limited CRISIL AAA 0.78% Tata Power Company Limited CRISIL AA- 0.75% Hinduja Leyland Finance Limited CARE AA- 0.72% Sikka Ports and Terminals Limited CRISIL AAA 0.68% Hansdeep Industries & Trading Company Limited CARE AA-(SO) 0.57% Edelweiss Commodities Services Limited ICRA AA 0.51% ECL Finance Limited ICRA AA 0.39% Hindalco Industries Limited CRISIL AA 0.16% PASS THROUGH CERTIFICATE 7.45% RENT-A-DEVICE TRUST ICRA AAA(SO) 2.72% Zenith Trust ICRA A-(SO) 1.70% IIERT TRUST CRISIL AAA(SO) 1.29% MFL Securitisation Trust CRISIL AAA(SO) 0.97% Solstice Trust ICRA AA-(SO) 0.78% GOVERNMENT BOND 5.07% 7.17% GOI (MD 08/01/2028) Sovereign 2.74% 7.37% GOI (MD 16/04/2023) Sovereign 2.00% 8.35% GOI (MD 14/05/2022) Sovereign 0.12% 7.88% GOI (MD 19/03/2030) Sovereign 0.12% 8.83% GOI (MD 25/11/2023) Sovereign 0.04% 8.60% GOI (MD 02/06/2028) Sovereign 0.04% 8.15% GOI (MD 24/11/2026) Sovereign 0.01% 7.59% GOI (MD 20/03/2029) Sovereign 0.00% REDUCED FACE VALUE BONDS - NON AMORTISATION 2.92% Subros Limited ICRA A+ 0.95% Narmada Wind Energy Private Limited CARE A+(SO) 0.78% IKF Finance Limited CARE A- 0.56% Ess Kay Fincorp Limited IND A(SO) 0.47% Asirvad Microfinance Ltd CRISIL A+ 0.16% ZERO COUPON BOND 2.88% JSW Techno Projects Management Limited BWR A(SO) 2.07% IIFL Home Finance Limited CRISIL AA 0.81% STATE GOVERNMENT BOND 0.28% 8.19% Rajasthan UDAY BOND (MD 23/06/2026) Sovereign 0.20% 8.27% Rajasthan UdayBond (MD 23/06/2022) Sovereign 0.08% NET CURRENT ASSETS 3.24% GRAND TOTAL % Entry Load :NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment For 10% of investment : Nil For remaining investment : 1% If redeemed/switched out after 12 months from the date of allotment : Nil Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

21 AXIS CREDIT RISK FUND (An Open Ended Debt Scheme Predominantly Investing In AA And Below Rated Corporate Bonds cluding AA+ Rated Corporate Bonds) INVESTMENT OBJECTIVE: To generate stable returns by investing in debt & money market instruments across the yield curve & credit spectrum. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. DATE OF ALLOTMENT 15th July 2014 AVERAGE MATURITY * 1.9 years MODIFIED DURATION * 1.6 years YIELD (YIELD TO MATURITY & ) 10.02% s Monthly Dividend DIVIDENDS Record Date MONTHLY AVERAGE 1, Cr. 1, Cr. PERFORMANCE (as on 30th November 2018) Regular Plan Mr. Devang Shah Work experience: 14 years. NIFTY Credit Risk Bond Index He has been managing this fund since inception. COMPOSITION BY ASSETS COMPOSITION BY RATING Corporate Bond 74.41% AAA, SOV & Equivalent 30.70% Pass Through Certificate 10.50% AA 31.48% Reduced Face Value Bonds - Non 6.31% AA % Amortisation Zero Coupon Bond 3.79% A % Government Bond 0.86% A- 4.38% Commercial Paper 0.59% A 3.10% State Government Bond 0.32% Net Assets 3.21% Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- Direct Plan Nov 26, Oct 25, Aug 27, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund.. ` 10,000 Date of inception Axis Credit Risk Fund - Growth 4.96% 10, % 12,344 NA NA 8.15% 14,098 NIFTY Credit Risk Bond Index (Benchmark) 5.74% 10, % 12,617 NA NA 9.00% 14, Jul-14 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.57% 13,767 Axis Credit Risk Fund - Direct Plan - Growth 6.30% 10, % 12,825 NA NA 9.40% 14,824 NIFTY Credit Risk Bond Index (Benchmark) 5.74% 10, % 12,617 NA NA 9.00% 14, Jul-14 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.57% 13,767 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided, since scheme is in existence for less than 3 years.different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since inception and he manages 33 schemes. Please refer to annexure on Page for performance of schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). Entry Load :NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment:- For 10% of investment: Nil For remaining investment: 1% If redeemed/switched out after 12 months from the date of allotment: Nil Instrument Type/Issuer Name RATING % Of CORPORATE BOND 74.41% Dewan Housing Finance Corporation Limited BWR AAA 4.69% Edelweiss Commodities Services Limited ICRA AA/CRISIL AA 4.36% ReNew Solar Power Private Limited CARE A1+(SO) 0.59% PVR Limited CRISIL AA- 3.78% Dalmia Cement (Bharat) Limited ICRA AA 3.24% Tata Power Company Limited CRISIL AA-/ IND AA 3.02% Hinduja Leyland Finance Limited CARE AA- 2.77% Coastal Gujarat Power Limited CARE AA(SO) 2.66% Birla Corporation Limited ICRA AA 2.59% Renew Power Limited CARE A+ 2.37% Piramal Enterprises Limited ICRA AA 2.36% Suhani Trading And Investment Consultants Private Limited BWR A+(SO) 2.36% Bank of Baroda CARE AA 2.31% Indiabulls Housing Finance Limited CARE AAA/BWR AAA 2.00% IndoStar Capital Finance Limited CARE AA- 2.28% JK Lakshmi Cement Limited CARE AA- 2.07% ECL Finance Limited ICRA AA 2.04% REC Limited CRISIL AAA 3.82% Nirma Limited CRISIL AA 1.86% HDFC Limited CRISIL AAA 1.79% Northern Arc Capital Limited ICRA A+ 1.71% Jubilant Life Sciences Limited CRISIL AA 1.49% Aasan Corporate Solutions Private Limited ICRA AA-(SO) 1.48% Power Finance Corporation Limited CRISIL AAA 1.47% Muthoot Finance Limited CRISIL AA 1.47% Hansdeep Industries & Trading Company Limited CARE AA-(SO) 1.38% Vodafone Mobile Services Limited CRISIL A+ 1.35% Magma Fincorp Limited ICRA AA- 1.23% Talwandi Sabo Power Limited CRISIL AA(SO) 1.19% Bhopal Dhule Transmission Company Limited CRISIL AAA 1.15% Union Bank of India BWR AA 0.99% Reliance Jio Infocomm Limited CRISIL AAA 0.97% Nuvoco Vistas Corporation Limited CRISIL AA 0.88% Syndicate Bank CARE A+ 0.87% Punjab National Bank IND A+ 0.85% Power Grid Corporation of India Limited CRISIL AAA 0.35% NABARD CRISIL AAA 0.01% Bharti Airtel Limited CRISIL AA 0.29% Vijaya Bank ICRA AA- 0.18% JM Financial Products Limited CRISIL AA 0.06% Vedanta Limited CRISIL AA 0.06% Oriental Nagpur Betul Highway Limited CRISIL AAA(SO) 2.31% PASS THROUGH CERTIFICATE 10.50% Food Corporation Of India CRISIL AAA(SO) 0.31% Zenith Trust ICRA A-(SO) 2.72% IIERT TRUST CRISIL AAA(SO) 1.55% Sansar Trust ICRA AAA(SO) 3.93% Solstice Trust ICRA AA-(SO) 0.94% Rent-A-Device Trust ICRA AAA(SO) 1.37% REDUCED FACE VALUE BONDS - NON AMORTISATION 6.31% Narmada Wind Energy Private Limited CARE A+(SO) 2.30% IKF Finance Limited CARE A- 1.66% Asirvad Microfinance Ltd CRISIL A+ 1.22% Ess Kay Fincorp Limited IND A(SO) 0.66% Subros Limited ICRA A+ 0.47% ZERO COUPON BOND 3.79% JSW Techno Projects Management Limited BWR A(SO) 2.44% IIFL Home Finance Limited CRISIL AA 1.34% GOVERNMENT BOND 0.86% 7.37% GOI (MD 16/04/2023) Sovereign 0.59% 6.79% GOI (MD 15/05/2027) Sovereign 0.11% 8.83% GOI (MD 25/11/2023) Sovereign 0.09% 7.35% GOI (MD 22/06/2024) Sovereign 0.03% 7.59% GOI (MD 20/03/2029) Sovereign 0.03% 7.59% GOI(MD 11/01/2026) Sovereign 0.00% COMMERCIAL PAPER 0.59% ReNew Solar Power Private Limited CARE A1+(SO) 0.59% STATE GOVERNMENT BOND 0.32% 8.27% Rajasthan UDAYBOND (MD 23/06/2022) Sovereign 0.15% 8.15% Rajasthan UDAY BOND (MD 23/06/2021) Sovereign 0.12% 8.19% Rajasthan UDAY BOND (MD 23/06/2026) Sovereign 0.06% NET CURRENT ASSETS 3.21% GRAND TOTAL % * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. 21 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

22 AXIS GILT FUND (An Open Ended Debt Scheme Investing In Government Securities Across Maturity) INVESTMENT OBJECTIVE: The Scheme will aim to generate credit risk-free returns through investments in sovereign securities issued by the Central Government and/or State Government DATE OF ALLOTMENT 23rd January 2012 MONTHLY AVERAGE Cr Cr. NIFTY All Duration G-Sec Index RATING % OF ASSETS GOVERNMENT BOND 70.92% 7.17% GOI (MD 08/01/2028) Sovereign 65.86% 8.60% GOI (MD 02/06/2028) Sovereign 5.06% TREASURY BILL 25.02% 182 Days Tbill Sovereign 25.02% AVERAGE MATURITY* 6.5 years MODIFIED DURATION* 4.3 years YIELD (YIELD TO MATURITY & ) 7.31% Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 5th November NET CURRENT ASSETS 4.06% GRAND TOTAL % COMPOSITION BY ASSETS COMPOSITION BY RATING Government Bond 70.92% SOV & Equivalent % Treasury Bill 25.02% Net Assets 4.06% PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- ` 10,000 Date of inception Axis Gilt Fund - Growth NIFTY All Duration G-Sec Index (Benchmark) 2.19% 5.09% 10,219 10, % 7.23% 11,978 12, % 8.51% 14,574 15, % 7.41% 15,400 16, Jan-12 Axis Gilt Fund - Direct Plan - Growth NIFTY All Duration G-Sec Index (Benchmark) 2.73% 5.09% 10,273 10, % 7.23% 12,167 12, % 8.51% 14,946 15, % 7.14% 14,860 15, Jan-13 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 5th November 2012 and he manages 33 schemes. Please refer to annexure on Page for performance of schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). s DIVIDENDS Record Date Regular Plan Direct Plan Sep 25, Mar 26, Sep 25, Half Yearly Dividend Mar 27, Nov 26, Oct 25, Regular Dividend Sep 25, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Half yearly dividend disclosed above are since the inception of the fund. Regular dividends disclosed above are for the last 3 months. * For instruments with put/call option, the put/call date has been taken as the maturity date.& The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Entry Load :NA Exit Load : Nil 22 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

23 AXIS BANKING & PSU DEBT FUND (An Open Ended Debt Scheme Predominantly Investing In Debt Instruments Of Banks, Public Sector Undertakings & Public Financial Institutions) INVESTMENT OBJECTIVE: To generate stable returns by investing predominantly in debt & money market instruments issued by Banks, Public Sector Units (PSUs) & Public Financial Institutions (PFIs).The scheme shall endeavor to generate optimum returns with low credit risk. DATE OF ALLOTMENT 8th June 2012 MONTHLY AVERAGE 1, Cr. 1, Cr. NIFTY Banking & PSU Debt Index Instrument Type/Issuer Name RATING % Of CORPORATE BOND 88.82% Power Finance Corporation Limited CRISIL AAA 11.56% Small Industries Dev Bank of India CARE AAA 10.49% REC Limited CRISIL AAA 10.36% AVERAGE MATURITY* 3.2 years MODIFIED DURATION* 2.6 years YIELD (YIELD TO MATURITY & ) 8.32% Mr. Aditya Pagaria Work experience: 11 years. He has been managing this fund since 13th August NABARD CRISIL AAA 9.67% National Highways Auth Of Ind CRISIL AAA 8.58% Reliance Industries Limited CRISIL AAA 8.36% Food Corporation Of India CRISIL AAA(SO) 7.88% Power Grid Corporation of India Limited CRISIL AAA 7.32% Export Import Bank of India CRISIL AAA 7.25% NHPC Limited ICRA AAA 2.87% Tata Sons Ltd CRISIL AAA 1.33% Indian Railway Finance Corporation Limited CRISIL AAA 1.07% LIC Housing Finance Limited CRISIL AAA 1.04% Jamnagar Utilities & Power Private Limited CRISIL AAA 1.04% COMPOSITION BY ASSETS COMPOSITION BY RATING Corporate Bond 88.82% State Government Bond 3.53% AAA, SOV & Equivalent % Zero Coupon Bond 1.38% Net Assets 6.27% STATE GOVERNMENT BOND 3.53% 8.21% Haryana UDAY BOND (MD 31/03/2022) Sovereign 2.15% 8.39% Rajasthan UDAY BOND(MD 15/03/2022) Sovereign 1.38% ZERO COUPON BOND 1.38% LIC Housing Finance Limited CRISIL AAA 1.38% PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception NET CURRENT ASSETS 6.27% GRAND TOTAL % ` 10,000/- ` 10,000 Date of inception Axis Banking & PSU Debt Fund - Growth 6.85% 10, % 12, % 14, % 16,761 NIFTY Banking & PSU Debt Index (Benchmark) 4.28% 10, % 12, % 14, % 16, Jun-12 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 16,020 Axis Banking & PSU Debt Fund - Direct Plan - Growth 7.15% 10, % 12, % 14, % 16,106 NIFTY Banking & PSU Debt Index (Benchmark) 4.28% 10, % 12, % 14, % 15, Jan-13 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,376 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 1,000 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Aditya Pagaria is managing the scheme since 13th August Aditya manages 5 schemes at Axis Mutual Fund. Please refer to annexure on Page 39 for performance of all schemes managed by the fund manager. Returns greater than 1 year period are compounded annualised (). DIVIDENDS s Record Date Regular Plan Direct Plan Nov 26, , , , Monthly Dividend Oct 25, , , Aug 27, , , , Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` Dividends disclosed above are since the inception of the fund. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Entry Load :NA Exit Load : Nil 23 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

24 HYBRID OUTLOOK DECEMBER 2018 Quick Take - Equity Quick Take - Fixed Income Equity market valuations are broadly reasonable adjusted for the cyclical low in earnings and potential for revival going forward. We remain bullish on equities from a medium to long term perspective Investors are suggested to have their asset allocation plan based on one s risk appetite and future goals in life. 6.4% Oil & Rupee have seen a significant retracement, which is a sentimental positive for the economy. Q2 GDP numbers are the effect of base impact and should not be read into as poor numbers. Long bonds are likely to trade range bound. Short tenor bonds look attractive from a risk reward perspective. We continue to advise investors to stay invested in short to medium term strategies and actively look at credit funds. 7.08% 7.60% 10 yr G-Sec : Last 1 year Key highlights Equity Markets rebounded this month as a significant fall in crude prices improved market sentiments. Frontline indices, S&P BSE Sensex & NIFTY 50 gained 5.1% and 4.7% respectively for the month. Mid and small caps remained tepid as sentiment continued to remain weak. NIFTY Midcap 100 Index & NIFTY Small cap 100 Index were up 1.8% & 2.5% respectively for the month. Foreign Portfolio Investors (FPI) returned to Indian capital markets as global uncertainty, global fundamentals and cheaper valuations caught the eye of investors. The fall in crude and sharp corrections in August and September added to the market attractiveness in India. FPIs invested ~11,500 Cr across equity and debt markets during the month. Domestic mutual funds continue to support markets as retail investors remain bullish on the equity market story. SIP`s continue to sustain despite market volatility highlighting maturity of domestic investors. Key Events During the Month Currency & Oil: Crude oil saw its worst month in more than a decade as global politics and supply concerns saw crude tumble to its lowest levels this year. Significant production ramp over the last few quarters led the US to dethrone Saudi Arabia & Russia as the world s largest oil producer in October The India crude basket ended the month at US$ 58.56/barrel down 23% this month. The INR also saw significant strength on the back of this to end the month at Year at 7.60%: The benchmark yield on the 10 Year G-Sec fell 15bps during the month from 7.85% to 7.60%. Bond markets continued to remain volatile as recoveries in crude and the currency gave the markets some respite in an otherwise volatile environment. FPIs returned to the market with a Rs 5,600 Cr inflow this month India Q2 GDP Numbers: Q2 FY19 GDP growth came in at 7.1% missing analysts estimates. The unexpected slowdown in GDP growth comes despite robust high frequency data and reasonable corporate earnings. The growth has largely been supported by government-enabled construction activity, electricity and public spending. Inflation Remains Benign: Consumer price inflation eased to 3.31% in October from a downward revised print of 3.7% in September. Modest food inflation continues to be reason for lower than expected retail inflation. Core inflation, however, rose above 6 percent in October. CPI inflation has been persistently below RBI s estimates. This is likely to reduce the pressure on RBI to raise rates. Eye on RBI & the Fisc: Falling crude prices and tepid inflation numbers are likely to be the focal points of RBI s bi-monthly monetary policy committee meeting next week. Lower GST collection coupled with rising public expenditure in election season is likely to put pressure on the government s fiscal math. Market Liquidity: Debt market liquidity hobbled back to normalcy as NBFC s and HFC s returned to the markets to raise fresh borrowing. Rates across the CP & CD markets returned to pre-il&fs levels as confidence was restored by issuer buybacks and regulatory intervention. Global Action Positive for EMs: On the global front, The US & China agreed to a temporary truce on the side lines of the G-20 summit. This likely reduction in trade hostilities is seen as the first step to normalization of trade relations between the two largest trading partners. The US fed hinted at a dovish stance as it pointed to fewer rate hikes in the months to come spurring EM currencies and bonds. Market View Equity Markets The markets have seen bouts of volatility over the last few months and currently offer reasonable valuations in select pockets. While we are less pessimistic than 3 months ago given lower crude prices, we continue to remain cautious in the run up to election season and global macro factors. Knee jerk reactions to news events are likely to remain part and parcel of equity markets for the next few quarters. Hence, Investors are advised to deploy funds in a phased manner. Systematic investments into equity products could also help investors ride out short term volatility. Debt Markets Crude has been an impediment to the India story over the past few quarters. Last month s outsized fall has been positive for the economy given the import reliance. This has reflected in the fall in rates and the currency. Any material up move from current levels is likely to be seen as negative for the economy. Q2 GDP numbers have to be seen in context of a normalizing base post the GST implementation last year. While the full impact of GST on the GDP base has not been captured, we anticipate the high crude oil prices during the quarter may have exasperated the downtick. The long term story continues to remain intact given the strong high frequency numbers and strong corporate earnings. Since April 2018, the RBI has conducted OMOs to the tune of 1,36,000 Cr and a likely additional Rs 40,000 Cr in December 2018 in an attempt to alleviate liquidity concerns in the markets. This has propped up bond markets. The fall in the currency may minimize RBI intervention given the rupee is now at a comfortable level, further minimizing the need for OMOs. However, Q4 is typically a tight quarter and additional liquidity pressures may arise. We do not believe that there is a material risk of financial instability and hence the RBI is likely to continue to focus on inflation trajectory. With the current inflation trajectory, we feel that the average inflation for the year would be around 5% band and hence we don't feel terminal repo rate to be above % till March Hence we feel RBI will at max bps rate hikes in next 6-12 months. Long bonds are likely to remain in a range of 7.60% % on the 10-year G-Sec. ly, the curve offers significant opportunities from investment perspective as markets are pricing in more than 1 hike till March Corporate bonds in the 1-3-year space currently trade at a premium of 200 bps over the operative rate which we believe offers significant opportunities and thus prefer this space. RESPONSIBLE INVESTING TIP FOR THE MONTH Distributors Investors may worry - Calm your investors, corrections are ideal entry points for long term investors. Effective Portfolio Management Key. Investors trust you. Be Responsible! Investors Equity Investors Do not Panic - Corrections are healthy. Timing the markets is dangerous - Invest Systematically, Invest Regularly, Invest Responsibly. Be fearful when others are greedy. Be greedy when others are fearful. Debt Investors Select a fund that meets your risk profile. Investing in credits is all about process. Select a fund house with a robust investment process and credit management system. Source: Bloomberg, Axis MF Research. 24

25 AXIS EQUITY SAVER FUND (An Open Ended Scheme Investing In Equity, Arbitrage And Debt) INVESTMENT OBJECTIVE: The investment objective of the scheme is to provide capital appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. COMPOSITION DATE OF BY ALLOTMENT RATING 14th August 2015 AVERAGE 2.1 years MODIFIED 1.6 years YIELD (YIELD TO MATURITY & ) 8.40% TURNOVER # (1 YEAR) 4.62 times Mr. Anupam Tiwari Work experience: 13 years. He has been managing this fund since 06th Oct 16 MONTHLY AVERAGE Cr Cr. NIFTY50 Equity Savings Index Mr. R. Sivakumar Work experience: 20 years. He has been managing this fund since inception. COMPOSITION BY ASSETS Unhedged Equity 39.06% Debt, Cash & Other receivables 34.59% Hedged Equity 26.35% Issuer Industry/Rating Equity Derivate Net Exposure % Exposure Exposure of Net Assets EQUITY 65.41% % 39.06% Mahindra & Mahindra Financial Services Limited Finance 6.80% -5.48% 1.31% HDFC Limited Finance 5.34% -2.42% 2.92% Maruti Suzuki India Limited Auto 4.61% -3.54% 1.07% HDFC Bank Limited Banks 4.60% -0.15% 4.45% Yes Bank Limited Banks 4.20% -4.22% -0.02% Reliance Industries Limited Petroleum Products 3.80% -0.19% 3.61% Hindustan Unilever Limited 2.94% -1.02% 1.92% Tata Consultancy Services Limited Software 2.73% -0.02% 2.71% Infosys Limited Software 2.68% 2.68% Kotak Mahindra Bank Limited Banks 2.39% 2.39% Britannia Industries Limited 2.31% -0.30% 2.01% ICICI Bank Limited Banks 2.06% -0.76% 1.30% Bajaj Finance Limited Finance 1.87% -0.04% 1.82% Century Textiles & Industries Limited Cement 1.76% -1.76% 0.00% Bandhan Bank Limited Banks 1.70% 1.70% Sundaram Finance Limited Finance 1.40% 1.40% Cholamandalam Investment and Finance Company Limited Finance 1.26% 1.26% Nestle India Limited 0.96% 0.96% Cummins India Limited Industrial Products 0.95% 0.95% TCNS Clothing Co. Limited Textile Products 0.94% 0.94% Adani Power Limited Power 0.79% -0.79% 0.00% Voltas Limited Construction Project 0.73% 0.73% Wipro Limited Software 0.65% 0.65% Larsen & Toubro Limited Construction Project 0.65% 0.65% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 1.63% DEBT SECURITIES 30.90% CORPORATE BOND 15.85% ICICI Bank Limited ICRA AA+ 3.38% Reliance Industries Limited CRISIL AAA 2.51% Punjab National Bank IND A+ 2.38% Piramal Capital & Housing Finance Limited ICRA AA+ 1.70% Dewan Housing Finance Corporation Limited BWR AAA 1.30% Cholamandalam Investment and Finance Company Limited ICRA AA+ 0.88% Power Grid Corporation of India Limited CRISIL AAA 0.66% REC Limited CRISIL AAA 0.64% Union Bank of India BWR AA 0.63% NABARD CRISIL AAA 0.61% Muthoot Finance Limited CRISIL AA 0.53% Syndicate Bank CARE A+ 0.38% Bank of Baroda CARE AA 0.26% FIXED DEPOSIT 8.41% HDFC Bank Limited FIXED DEPOSIT 8.28% Axis Bank Limited FIXED DEPOSIT 0.13% GOVERNMENT BOND 0.77% 8.28% GOI (M/D 21/09/2027) SOVEREIGN 0.68% 7.72% GOI (MD 26/10/2055) SOVEREIGN 0.05% 7.35% GOI (MD 22/06/2024) SOVEREIGN 0.03% COMMERCIAL PAPER 5.87% Reliance Jio Infocomm Limited CARE A % LIC Housing Finance Limited CRISIL A % PASS THROUGH CERTIFICATE 0.28% IIERT TRUST CRISIL AAA(SO) 0.28% CASH & OTHER NET CURRENT ASSETS 3.40% NET ASSETS % COMPOSITION BY RATING AAA, SOV & Equivalent 24.45% AA+ 5.96% AA 1.41% A+ 2.76% 25 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

26 PERFORMANCE (as on 30th November 2018) Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- ` 10,000 Date of inception Axis Equity Saver Fund - Growth 6.36% 10, % 12,467 NA NA 6.69% 12,380 NIFTY50 Equity Savings Index (Benchmark) 6.49% 10, % 12,838 NA NA 7.55% 12, Aug-15 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,260 NA NA 9.06% 13,312 Axis Equity Saver Fund - Direct Plan - Growth 7.51% 10, % 12,932 NA NA 7.97% 12,880 NIFTY50 Equity Savings Index (Benchmark) 6.49% 10, % 12,838 NA NA 7.55% 12, Aug-15 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,260 NA NA 9.06% 13,312 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided, since scheme is in existence for less than 5 years.different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Anupam Tiwari is managing the scheme since 6th October 2016 and he manages 6 schemes & R. Sivakumar is managing the scheme since inception and he manages 7 schemes. Please refer to annexure on Page 38 & 39 for performance of all schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). DIVIDENDS s Record Date Regular Plan Nov 26, Oct 25, Monthly Dividend Sep 25, Quarterly Dividend Direct Plan Sep 25, Jun 25, Mar 26, Dec 26, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Entry Load :NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment, - For 10% of investments : NIL - For remaining investment : 1% If redeemed / switched - out after 12 months from the date of allotment : Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. # Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. 26 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

27 AXIS DYNAMIC EQUITY FUND (An Open Ended Dynamic Asset Allocation Fund) INVESTMENT OBJECTIVE: To generate capital appreciation by investing in a portfolio of equity or equity linked securities while secondary objective is to generate income through investments in debt and money market instruments. It also aims to manage risk through active asset allocation. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. DATE OF ALLOTMENT 1st August 2017 AVERAGE MATURITY* 333 years MODIFIED DURATION* 270 years YIELD (YIELD TO MATURITY & ) 8.26% Mr. Anupam Tiwari Work experience: 13 years. He has been managing this fund since inception. MONTHLY AVERAGE 2, Cr. 2, Cr. NIFTY50 Hybrid Composite Debt 50:50 Index Mr. Ashwin Patni Work experience: 16 years. He has been managing this fund since inception. Mr. R. Sivakumar Work experience: 20 years. He has been managing this fund since inception. COMPOSITION BY ASSETS Unhedged Equity 34.45% Debt, Cash & Other receivables 33.94% Hedged Equity 31.61% COMPOSITION BY RATING AAA, SOV & Equivalent 23.15% AA+ 3.20% AA 5.17% A+ 0.68% AA- 1.75% Issuer Industry/Rating Equity Exposure Derivate Exposure Net Exposure % of Net Assets EQUITY 66.06% % 34.45% Reliance Industries Limited Petroleum Products 5.50% -2.81% 2.68% HDFC Bank Limited Banks 3.92% -1.19% 2.73% Wipro Limited Software 3.35% -2.76% 0.59% HDFC Limited Finance 3.30% -1.38% 1.92% ITC Limited 3.09% -3.10% -0.01% Britannia Industries Limited 2.92% -1.23% 1.69% Infosys Limited Software 2.90% -1.25% 1.65% Maruti Suzuki India Limited Auto 2.75% -1.76% 0.99% Tata Consultancy Services Limited Software 2.36% -0.43% 1.93% Bajaj Finance Limited Finance 2.24% -1.01% 1.23% ICICI Bank Limited Banks 2.21% -1.24% 0.96% Hindustan Unilever Limited 2.12% -0.56% 1.55% Yes Bank Limited Banks 1.85% -1.86% -0.01% Kotak Mahindra Bank Limited Banks 1.83% -0.27% 1.56% Bandhan Bank Limited Banks 1.35% 1.35% Sundaram Finance Limited Finance 1.35% 1.35% Nestle India Limited 1.33% -0.17% 1.16% Mahindra & Mahindra Financial Services Limited Finance 1.33% -0.09% 1.24% Bank of Baroda Banks 1.11% -1.11% 0.00% Aurobindo Pharma Limited Pharmaceuticals 1.05% -1.05% 0.00% TCNS Clothing Co. Limited Textile Products 1.03% 1.03% Page Industries Limited Textile Products 0.95% 0.95% Cholamandalam Investment and Finance Company Limited Finance 0.93% 0.93% Larsen & Toubro Limited Construction Project 0.93% 0.93% Asian Paints Limited 0.78% -0.79% 0.00% City Union Bank Limited Banks 0.78% 0.78% MRF Limited Auto Ancillaries 0.76% -0.05% 0.71% Varroc Engineering Limited Auto Ancillaries 0.64% 0.64% Endurance Technologies Limited Auto Ancillaries 0.61% 0.61% Shree Cement Limited Cement 0.59% -0.30% 0.29% Divi's Laboratories Limited Pharmaceuticals 0.58% 0.58% ACC Limited Cement 0.55% -0.04% 0.51% Cummins India Limited Industrial Products 0.50% 0.50% Amber Enterprises India Limited Consumer 0.50% 0.50% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 1.20% DEBT SECURITIES 27.04% CORPORATE BOND 16.25% Dewan Housing Finance Corporation Limited Shriram Transport Finance Company Limited CARE AAA/BWR AAA 1.75% CRISIL AA+ 1.68% Muthoot Finance Limited CRISIL AA 1.58% Edelweiss Commodities Services Limited CRISIL AA 1.44% IndoStar Capital Finance Limited CARE AA- 1.38% REC Limited CRISIL AAA 1.22% HDFC Limited CRISIL AAA 1.18% Tata Power Company Limited IND AA 1.15% ICICI Bank Limited ICRA AA+ 0.98% NABARD IND AAA 0.81% Vodafone Mobile Services Limited CRISIL A+ 0.68% 27 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

28 Issuer Industry/Rating Equity Exposure Derivate Exposure Net Exposure % of Net Assets Reliance Jio Infocomm Limited CRISIL AAA 0.58% Piramal Enterprises Limited ICRA AA 0.40% Indiabulls Housing Finance Limited BWR AAA 0.40% UltraTech Cement Limited CRISIL AAA 0.21% Piramal Capital & Housing Finance Limited ICRA AA+ 0.20% Magma Fincorp Limited ICRA AA- 0.20% Tata Sons Ltd CRISIL AAA 0.20% Hinduja Leyland Finance Limited CARE AA- 0.16% Larsen & Toubro Limited CRISIL AAA 0.04% FIXED DEPOSIT 5.66% HDFC Bank Limited Fixed Deposit 5.66% ZERO COUPON BOND 0.94% TMF Holdings Limited CRISIL AA 0.60% Cholamandalam Investment and Finance Company Limited ICRA AA+ 0.34% COMMERCIAL PAPER 4.20% Indiabulls Housing Finance Limited CRISIL A % JM Financial Products Limited [ICRAA % CASH & OTHER NET CURRENT AS- SETS 6.89% NET ASSETS % PERFORMANCE (as on 30th November 2018) Period 1 Year Since Inception ` 10,000/- ` 10,000 Date of inception Axis Dynamic Equity Fund - Growth 3.90% 10, % 10,660 NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 6.06% 10, % 10,713 1-Aug-17 Nifty 50 (Additional Benchmark) 7.82% 10, % 10,932 Axis Dynamic Equity Fund - Direct Plan - Growth 5.62% 10, % 10,900 NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 6.06% 10, % 10,713 1-Aug-17 Nifty 50 (Additional Benchmark) 7.82% 10, % 10,932 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. The performance data for 3 & 5 years period has not been provided, since scheme is in existence for less than 3 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Anupam Tiwari is managing the scheme since inception and he manages 6 schemes, R. Sivakumar is managing the scheme since inception and he manages 7 schemes & Ashwin Patni is managing the scheme since inception and he manages 21 schemes. Please refer to annexure on Page 38&39 for performance of all schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). Entry Load :NA Exit Load : If redeemed / switched-out within 12 months from the date of allotment, For 10 % of investments: Nil, For remaining investments: 1%, If redeemed / switched - out after 12 months from the date of allotment:nil 28 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

29 AXIS EQUITY HYBRID FUND (An open-ended hybrid scheme investing predominantly in equity and equity related instruments) INVESTMENT OBJECTIVE: To generate long term capital appreciation along with current income by investing in a mix of Equity and Equity related Instruments, debt Instruments and money market instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. DATE OF ALLOTMENT 9th August 2018 AVERAGE MATURITY*@ 176 days MODIFIED DURATION*@ 155 days YIELD (YIELD TO MATURITY & ) 7.27% COMPOSITION BY ASSETS EQUITY 68.09% Debt, Cash & other current assets 31.91% MONTHLY AVERAGE 2, Cr. 2, Cr. Mr. Ashish Naik Work experience: 11 years. He has been managing this fund since inception. Entry Load :NA Exit Load :If redeemed/ switched out on or before 12 months from the date of allotment: - For 10% of investment: Nil - For remaining investment: 1% If redeemed/ switched out after 12 months from the date of allotment: Nil CRISIL Hybrid Aggressive Index Mr. R. Sivakumar Work experience: 20 years. He has been managing this fund since inception. COMPOSITION BY RATING DEBT COMPONENT AAA, SOV & Equivalent Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. # Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. Instrument Type/Issuer Name Industry/ Rating % OF EQUITY 67.29% HDFC BANK LIMITED Banks 6.94% Tata Consultancy Services Limited Software 5.03% Kotak Mahindra Bank Limited Banks 4.34% HDFC Limited Finance 3.79% Maruti Suzuki India Limited Auto 3.26% Larsen & Toubro Limited Construction Project 3.18% Reliance Industries Limited Petroleum Products 3.12% ICICI Bank Limited Banks 2.54% Infosys Limited Software 2.49% ITC Limited 2.20% Bajaj Finance Limited Finance 2.18% Motherson Sumi Systems Limited Auto Ancillaries 2.13% Avenue Supermarts Limited Retailing 2.09% Eicher Motors Limited Auto 1.84% Titan Company Limited Consumer 1.76% Bajaj Finserv Limited Finance 1.54% Gruh Finance Limited Finance 1.52% Shree Cement Limited Cement 1.48% Asian Paints Limited 1.39% Hindustan Unilever Limited 1.38% Bandhan Bank Limited Banks 1.23% Sun Pharmaceutical Industries Limited Pharmaceuticals 1.20% Torrent Pharmaceuticals Limited Pharmaceuticals 1.09% Nestle India Limited 1.07% Nifty 50 Index Index 1.03% Container Corporation of India Limited Transportation 1.00% Pidilite Industries Limited Chemicals 0.92% PI Industries Limited Pesticides 0.89% Max Financial Services Limited Finance 0.79% Hero MotoCorp Limited Auto 0.76% Sundaram Finance Limited Finance 0.71% Tech Mahindra Limited Software 0.68% UltraTech Cement Limited Cement 0.62% HDFC Standard Life Insurance Company Limited Finance 0.60% Varroc Engineering Limited Auto Ancillaries 0.50% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.80% DEBT SECURITIES CBLO/TRI PARTY REPO 16.26% COMMERCIAL PAPER 4.32% Bharti Airtel Limited CRISIL A % NABARD ICRA A % CORPORATE BOND 10.90% Dewan Housing Finance Corporation Limited CARE AAA 1.07% Indian Railway Finance Corporation Limited CRISIL AAA 1.08% NABARD CRISIL AAA 2.63% Power Finance Corporation Limited CRISIL AAA 2.19% REC Limited CRISIL AAA 3.28% REC LIMITED CRISIL AAA 0.65% MARGIN FIXED DEPOSIT 1.10% HDFC Bank Limited 1.10% NET CURRENT ASSETS 0.35% GRAND TOTAL % Since scheme has not completed one year, performance details for the same are not provided. 29 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

30 AXIS REGULAR SAVER FUND (An Open Ended Hybrid Scheme Investing Predominantly In Debt Instruments) INVESTMENT OBJECTIVE: The Scheme seeks to generate regular income through investments in debt & money market instruments, along with capital appreciation through limited exposure to equity and equity related instruments. DATE OF ALLOTMENT 16th July 2010 AVERAGE 1years MODIFIED 0.9 years YIELD (YIELD TO MATURITY & ) 8.95% COMPOSITION BY ASSETS Corporate Bond 62.43% Equity 21.53% Commercial Paper 6.64% Zero Coupon Bond 1.90% Treasury Bill 1.67% Net Assets 5.82% s DIVIDENDS Record Date MONTHLY AVERAGE Cr Cr. Mr. Devang Shah Work experience: 14 years. He has been managing this fund since 07th June 2016 PERFORMANCE (as on 30th November 2018) Regular Plan Mr. Ashish Naik Work experience: 11 years. He has been managing this fund since 22nd June 2016 NIFTY50 Hybrid Short Duration Debt 25:75 Index Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- COMPOSITION BY RATING AAA, SOV & Equivalent 61.19% AA+ 6.75% AA 5.16% A+ 3.70% AA- 1.67% Direct Plan Mar 26, Annual Dividend Mar 27, Mar 28, Mar 25, Half Yearly Dividend Sep 25, Mar 26, Sep 25, Mar 27, Quarterly Dividend Sep 25, Jun 25, Mar 26, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Half Yearly Dividends disclosed above are for the last 2 Years. Quarterly Dividends disclosed above are for the last 3 Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. ` 10,000 Date of inception Axis Regular Saver Fund - Growth 3.46% 10, % 12, % 15, % 18,919 NIFTY 50 Hybrid Short Duration Debt 25: % 10, % 12, % 15, % 20,510 Index (Benchmark) 16-Jul-10 NIFTY 10 yr Benchmark G-Sec (Additional 2.58% 10, % 12, % 14,768 NA NA Benchmark) Axis Regular Saver Fund - Direct Plan 4.65% 10, % 12, % 16, % 17,382 - Growth NIFTY50 Hybrid Short Duration Debt 25:75 Index (Benchmark) 6.43% 10, % 12, % 15, % 16, Jan-13 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 14,496 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. Devang Shah is managing the scheme since 7th June 2016 and he manages 33 schemes & Ashish Naik is managing the scheme since 22nd June 2016 and he manages 6 schemes. Please refer to annexure on Page 38&40 for performance of schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). Instrument Type/Issuer Name Industry/ Rating % OF EQUITY 21.53% HDFC Bank Limited Banks 2.06% Kotak Mahindra Bank Limited Banks 1.44% Larsen & Toubro Limited Construction Project 1.16% Maruti Suzuki India Limited Auto 1.04% Bandhan Bank Limited Banks 0.88% ICICI Bank Limited Banks 0.86% Info Edge (India) Limited Software 0.82% Shree Cement Limited Cement 0.82% HDFC Limited Finance 0.79% Bajaj Finance Limited Finance 0.77% Motherson Sumi Systems Limited Auto Ancillaries 0.75% Eicher Motors Limited Auto 0.69% Avenue Supermarts Limited Retailing 0.67% Page Industries Limited Textile Products 0.64% Tata Consultancy Services Limited Software 0.60% Endurance Technologies Limited Auto Ancillaries 0.60% Multi Commodity Exchange of India Limited Finance 0.59% Mahindra & Mahindra Financial Services Limited Finance 0.56% Bajaj Finserv Limited Finance 0.56% PI Industries Limited Pesticides 0.54% Varroc Engineering Limited Auto Ancillaries 0.52% Hindustan Unilever Limited 0.51% Asian Paints Limited 0.50% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 3.15% DEBT SECURITIES CORPORATE BOND 62.43% Power Finance Corporation Limited CRISIL AAA 10.22% Reliance Jio Infocomm Limited CRISIL AAA 9.39% Mahindra & Mahindra Financial Services Limited IND AAA 8.36% Adani Transmission Limited IND AA+ 6.75% Dewan Housing Finance Corporation Limited BWR AAA 6.66% HDFC Limited CRISIL AAA 5.76% Renew Power Limited CARE A+ 3.70% NABARD CRISIL AAA 3.38% National Highways Auth Of Ind CRISIL AAA 3.28% Muthoot Finance Limited CRISIL AA 3.25% Magma Fincorp Limited ICRA AA- 1.67% Blue Dart Express Limited ICRA AA 0.01% COMMERCIAL PAPER 6.64% Indiabulls Housing Finance Limited CRISIL A % ZERO COUPON BOND 1.90% JM Financial Products Limited CRISIL AA 1.90% TREASURY BILL 1.67% 91 Days Tbill (MD 18/01/2019) Sovereign 1.67% NET CURRENT ASSETS 5.82% GRAND TOTAL % Entry Load :NA Exit Load :If redeemed/switch out within 12 months from the date of allotment: - For 10% of investment : Nil - For remaining investment : 1% If redeemed/switch out after 12 months from the date of allotment: Nil 30 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

31 AXIS CHILDREN S GIFT FUND (An Open Ended Fund, For Investment For Children, Having A Lock-In Of 5 Years Or Till The Child Attains Age Of Majority (Whichever Is Earlier)) INVESTMENT OBJECTIVE: The investment objective of the scheme is to generate income by investing in debt & money market instruments along with long-term capital appreciation through investments in equity & equity related instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. DATE OF ALLOTMENT 08th December 2015 AVERAGE 1.7 years MODIFIED 1.4 years YIELD (YIELD TO MATURITY & ) 8.97% COMPOSITION BY ASSETS Unhedged Equity 72.38% Debt, Cash & Other receivables 27.62% MONTHLY AVERAGE Cr Cr. Mr. Ashish Naik Work experience: 11 years. He has been managing this fund since 6th July 2016 PERFORMANCE (as on 30th November 2018) COMPOSITION BY ASSETS AAA, SOV & Equivalent 12.59% AA+ 6.26% AA 4.48% AA- 2.53% A+ 1.77% Period 1 Year Since Inception ` 10,000/- NIFTY 50 Hybrid Composite Debt 65:35 Index Mr. R. Sivakumar Work experience: 20 years. He has been managing this fund since 07th June Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Returns greater than 1 year period are compounded annualised (). ` 10,000 Date of inception Axis Childrens Gift Fund - Compulsory 1.77% 10, % 12,579 Lock-in - Regular Plan - Growth NIFTY 50 Hybrid Composite Debt 65:35 Index 6.66% 10, % 13, Dec-15 (Benchmark) Nifty 50 (Additional Benchmark) 7.82% 10, % 14,692 Axis Childrens Gift Fund - Compulsory 3.40% 10, % 13,199 Lock-in - Direct Plan - Growth NIFTY 50 Hybrid Composite Debt 65:35 Index 6.66% 10, % 13, Dec-15 (Benchmark) Nifty 50 (Additional Benchmark) 7.82% 10, % 14,692 Axis Childrens Gift Fund - No Lock-in^ % 10, % 12,578 Regular Plan - Growth NIFTY 50 Hybrid Composite Debt 65:35 Index 6.66% 10, % 13, Dec-15 (Benchmark) Nifty 50 (Additional Benchmark) 7.82% 10, % 14,692 Axis Childrens Gift Fund - No Lock-in^ % 10, % 13,306 Direct Plan - Growth NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 6.66% 10, % 13, Dec-15 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,692 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. Since inception returns for Axis Childrens Gift Fund - Compulsory Lock-in Regular Plan - Growth & Axis Childrens Gift Fund - No Lock-in - Regular Plan - Growth are calculated from 08th December The performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 years.different plans have different expense structure. Ashish Naik manages 6 schemes & R. Sivakumar manages 7 schemes. Please refer to annexure on Page 38 for performance of all schemes managed by the fund managers. Entry Load :NA Exit Load :Under Compulsory Lock-in: No exit load post lock-in period Under No Lock-in: an Exit Load of 3% is payable if Units are redeemed / switched-out upto 1 year from the date of allotment. an Exit Load of 2% is payable if Units are redeemed / Switched-out after 1 year and upto 2 years from the date of allotment Issuer Industry/ Rating Net Exposure % of Net Assets EQUITY 72.38% HDFC BANK LIMITED Banks 7.84% Tata Consultancy Services Limited Software 4.53% HDFC Limited Finance 4.51% Kotak Mahindra Bank Limited Banks 3.96% Maruti Suzuki India Limited Auto 3.03% Larsen & Toubro Limited Construction Project 2.87% Shree Cement Limited Cement 2.67% ICICI Bank Limited Banks 2.51% Bajaj Finance Limited Finance 2.44% Motherson Sumi Systems Limited Auto Ancillaries 2.21% Bajaj Finserv Limited Finance 1.83% Page Industries Limited Textile Products 1.77% Bandhan Bank Limited Banks 1.75% Eicher Motors Limited Auto 1.72% Info Edge (India) Limited Software 1.65% Divi's Laboratories Limited Pharmaceuticals 1.64% Avenue Supermarts Limited Retailing 1.62% Hindustan Unilever Limited 1.62% Nestle India Limited 1.60% Infosys Limited Software 1.54% Astral Poly Technik Limited Industrial Products 1.50% Varroc Engineering Limited Auto Ancillaries 1.49% Sundaram Finance Limited Finance 1.47% Asian Paints Limited 1.45% Cummins India Limited Industrial Products 1.45% PI Industries Limited Pesticides 1.40% Pidilite Industries Limited Chemicals 1.33% Endurance Technologies Limited Auto Ancillaries 1.30% WABCO India Limited Auto Ancillaries 1.28% City Union Bank Limited Banks 1.21% V-Guard Industries Limited Industrial Capital Goods 1.17% Mahindra & Mahindra Financial Services Limited Finance 1.13% HDFC Standard Life Insurance Company Limited Finance 1.12% Camlin Fine Sciences Limited Chemicals 0.75% Blue Dart Express Limited Transportation 0.56% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.45% DEBT SECURITIES 25.80% CERTIFICATE OF DEPOSIT 0.75% IndusInd Bank Limited CRISIL A % CORPORATE BOND 17.42% Power Finance Corporation Limited CRISIL AAA 4.02% ICICI Bank Limited ICRA AA+ 3.75% Union Bank of India BWR AA 3.31% Magma Fincorp Limited ICRA AA- 2.53% HDFC Limited CRISIL AAA 2.05% Renew Power Limited CARE A+ 1.27% Syndicate Bank CARE A+ 0.25% Punjab National Bank IND A+ 0.24% FIXED DEPOSIT 0.51% Axis Bank Limited Fixed Deposit 0.51% GOVERNMENT BOND 1.40% 7.37% GOI (MD 16/04/2023) Sovereign 1.27% 7.59% GOI(MD 11/01/2026) Sovereign 0.13% TREASURY BILL 2.04% 91 DAYS TBILL (MD 27/12/2018) Sovereign 2.04% ZERO COUPON BOND 3.68% IDFC BANK LIMITED ICRA AA+ 2.51% TMF Holdings Limited CRISIL AA 1.18% CASH & OTHER NET CURRENT ASSETS 1.82% NET ASSETS % 31 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

32 AXIS TRIPLE ADVANTAGE FUND (An Open Ended Scheme Investing In Equity, Debt And Gold) INVESTMENT OBJECTIVE: To generate long term capital appreciation by investing in a diversified portfolio of equity and equity related instruments, fixed income instruments & Gold Exchange Traded Funds. DATE OF ALLOTMENT 23rd August 2010 AVERAGE 3.9 years MODIFIED 2.6 years YIELD (YIELD TO MATURITY & ) 8.38% TURNOVER # (1 YEAR) 0.78 times COMPOSITION BY ASSETS Unhedged Equity 74.28% Debt, Cash & Other receivables 14.66% Gold 11.06% s MONTHLY AVERAGE Cr Cr. Mr. R. Sivakumar Work experience: 20 years. He has been managing the fund since 14th September 2010 PERFORMANCE (as on 30th November 2018) DIVIDENDS Record Date Regular Plan 65% of Nifty % of NIFTY Composite Debt Index + 15% of INR Price of Gold Mr. Ashish Naik Work experience: 11 years. He has been managing this fund since 22nd June 2016 Period 1 Year 3 Years 5 Years Since Inception ` 10,000/- Apr 17, Dividend Sep 17, Sep 21, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` Based on debt portfolio only. COMPOSITION BY ASSETS AAA, SOV & Equivalent 13.62% AA 1.04% ` 10,000 Date of inception Axis Triple Advantage Fund - Growth 1.68% 10, % 12, % 14, % 18,378 65% of Nifty % of NIFTY Composite 6.40% 10, % 13, % 16, % 20,632 Debt Index + 15% of INR Price of Gold (Benchmark) 23-Aug-10 NIFTY 10 yr Benchmark G-Sec (Additional 2.58% 10, % 12, % 14,768 NA NA Benchmark) Axis Triple Advantage Fund - Direct Plan - Growth 2.67% 10, % 12, % 15, % 15,423 65% of Nifty % of NIFTY Composite 6.40% 10, % 13, % 16, % 17,185 Debt Index + 15% of INR Price of Gold 01-Jan-13 (Benchmark) NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 14,565 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns is calculated on ` 10 invested at inception. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above.r. Sivakumar is managing the scheme since 14th September 2010 and he manages 7 schemes & Ashish Naik is managing the scheme since 22nd June 2016 and he manages 6 schemes. Please refer to annexure on Page 38 for performance of all schemes managed by the fund managers. Scheme Performance may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme. Returns greater than 1 year period are compounded annualised (). Issuer Industry/ Rating Net Exposure % of Net Assets EQUITY 74.28% HDFC Bank Limited Banks 7.55% Tata Consultancy Services Limited Software 5.84% HDFC Limited Finance 4.49% Kotak Mahindra Bank Limited Banks 4.47% Larsen & Toubro Limited Construction Project 3.53% Maruti Suzuki India Limited Auto 3.40% Shree Cement Limited Cement 3.00% ICICI Bank Limited Banks 2.82% Divi's Laboratories Limited Pharmaceuticals 2.77% Bandhan Bank Limited Banks 2.67% Motherson Sumi Systems Limited Auto Ancillaries 2.65% Infosys Limited Software 2.32% Bajaj Finance Limited Finance 2.27% Hindustan Unilever Limited 2.21% Avenue Supermarts Limited Retailing 2.11% Container Corporation of India Limited Transportation 2.09% Gruh Finance Limited Finance 1.99% Bajaj Finserv Limited Finance 1.73% Info Edge (India) Limited Software 1.71% Eicher Motors Limited Auto 1.67% Nestle India Limited 1.65% WABCO India Limited Auto Ancillaries 1.56% Endurance Technologies Limited Auto Ancillaries 1.44% Asian Paints Limited 1.33% Cummins India Limited Industrial Products 1.30% PI Industries Limited Pesticides 1.24% Camlin Fine Sciences Limited Chemicals 1.04% Pidilite Industries Limited Chemicals 0.97% Varroc Engineering Limited Auto Ancillaries 0.94% Blue Dart Express Limited Transportation 0.64% HDFC Standard Life Insurance Company Limited Finance 0.60% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 0.29% DEBT SECURITIES 10.07% CORPORATE BOND 9.28% Power Finance Corporation Limited CRISIL AAA 5.48% Sikka Ports and Terminals Limited CRISIL AAA 1.46% India Infrastructure Fin Co Ltd CRISIL AAA 0.94% Union Bank of India BWR AA 0.86% REC Limited CRISIL AAA 0.36% Hindalco Industries Limited CRISIL AA 0.18% GOVERNMENT BOND 0.08% 8.35% GOI (MD 14/05/2022) Sovereign 0.05% 8.12% GOI (MD 10/12/2020) Sovereign 0.03% TREASURY BILL 0.71% 91 Days Tbill (MD 27/12/2018) Sovereign 0.71% GOLD 11.06% Axis Mutual Fund 11.06% CASH & OTHER NET CURRENT ASSETS 4.59% NET ASSETS % Entry Load :NA Exit Load :If redeemed/switch out within 12 months from the date of allotment: - For 10% of investment : Nil - For remaining investment : 1% If redeemed/switch out after 12 months from the date of allotment: Nil * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. Pursuant to the circular issued by SEBI on Categorization and Rationalization of the Schemes,there has been change in the fundamental attribute(s) of the aforesaid effective from May 18, Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

33 AXIS ARBITRAGE FUND (An Open Ended Scheme Investing In Arbitrage Opportunities ) INVESTMENT OBJECTIVE: To generate income through low volatility absolute return strategies that take advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies and by investing the balance in debt and money market instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. AVERAGE MATURITY*@ 77 days DATE OF ALLOTMENT 14th August 2014 MONTHLY AVERAGE 2, Cr. 2, Cr. MODIFIED DURATION*@ 70 days YIELD (YIELD TO MATURITY & ) 7.61% TURNOVER # (1 YEAR) times Issuer Industry/ Rating % Of Net Asset Exposure EQUITY 67.00% SUN PHARMACEUTICAL INDUSTRIES LIMITED Pharmaceuticals 9.15% Housing Development Finance Corporation Limited Finance 8.09% Divi's Laboratories Limited Pharmaceuticals 4.86% Page Industries Limited Textile Products 4.80% Bajaj Finance Limited Finance 4.24% Nifty 50 Arbitrage Index Mr. Ashwin Patni Work experience: More than 16 years. He has been managing the fund since 27th April 2015 Mr. Devang Shah Work experience: More than14 years. He has been managing this fund since inception. Reliance Industries Limited Petroleum Products 3.76% Mahindra & Mahindra Limited Auto 2.43% Motherson Sumi Systems Limited Auto Ancillaries 2.18% Century Textiles & Industries Limited Cement 1.61% Mahindra & Mahindra Financial Services Limited Finance 1.48% United Spirits Limited 1.34% Indiabulls Housing Finance Limited Finance 1.25% Tata Consultancy Services Limited Software 1.21% ITC Limited 1.18% Infosys Limited Software 1.04% PERFORMANCE (as on 30th November 2018) Cadila Healthcare Limited Pharmaceuticals 1.02% Tech Mahindra Limited Software 0.97% Period 1 Year 3 Years 5 Years Since Inception Yes Bank Limited Banks 0.97% ICICI Bank Limited Banks 0.95% ` 10,000/- ` 10,000 Date of inception Tata Steel Limited Ferrous Metals 0.82% Adani Power Limited Power 0.75% Capital First Limited Finance 0.71% HCL Technologies Limited Software 0.67% Axis Arbitrage Fund - Growth 6.45% 10, % 11,991 NA NA 6.60% 13,162 Nifty 50 Arbitrage Index (Benchmark) 4.82% 10, % 11,652 NA NA 6.01% 12, Aug-14 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.54% 13,669 Axis Arbitrage Fund - Direct Plan - Growth 7.33% 10, % 12,290 NA NA 7.49% 13,641 Nifty 50 Arbitrage Index (Benchmark) 4.82% 10, % 11,652 NA NA 6.01% 12, Aug-14 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.54% 13,669 Past performance may or may not be sustained in future. Calculations are based on Growth. Since inception returns are calculated on ` 10 invested at inception. The performance data for 5 years period has not been provided for scheme/plan not in existence for 5 years. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above.devang Shah is managing the scheme since inception and he manages 33 schemes & Ashwin Patni is managing the scheme since 27th April 2015 and he manages 21 schemes. Please refer to annexure on Page for performance of schemes managed by the fund managers. Returns greater than 1 year period are compounded annualised (). Maruti Suzuki India Limited Auto 0.66% IDBI Bank Limited Banks 0.62% UPL Limited Pesticides 0.57% Bharat Forge Limited Industrial Products 0.56% Punjab National Bank Banks 0.54% OTHER EQUITY (LESS THAN 0.50% OF THE CORPUS) 8.57% DEBT SECURITIES 34.39% CERTIFICATE OF DEPOSIT 3.53% NABARD CRISIL A % Equitas Small Finance Bank Limited CRISIL A % IndusInd Bank Limited CRISIL A % CORPORATE BOND 5.84% NABARD IND AAA 1.19% s DIVIDENDS Record Date Regular Plan Direct Plan Nov 19, Oct 21, Dividend Sep 25, Aug 23, Please note that after the payment of dividend, the falls to the extent of dividend, distribution tax and cess wherever applicable. Past performance may or may not be sustained in future. Face units is ` 10. Dividends disclosed above are since the inception of the fund. Tata Capital Financial Services Limited CRISIL AAA 1.18% Edelweiss Commodities Services Limited CRISIL AA 0.62% HDFC Limited CRISIL AAA 0.53% Cholamandalam Investment and Finance Company Limited ICRA AA+ 0.48% India Infoline Finance Limited ICRA AA 0.48% Muthoot Finance Limited CRISIL AA 0.47% Power Finance Corporation Limited CRISIL AAA 0.34% Piramal Capital & Housing Finance Limited ICRA AA+ 0.24% L&T Finance Limited ICRA AAA 0.18% Power Grid Corporation of India Limited CRISIL AAA 0.14% FIXED DEPOSIT 11.23% HDFC Bank Limited Fixed Deposit 11.23% ZERO COUPON BOND 1.84% Dewan Housing Finance Corporation Limited CARE AAA 1.14% TMF Holdings Limited CRISIL AA 0.35% Entry Load : NA Exit Load : 0.25% if redeemed / switched out within 7 days from the date of allotment/ Based on debt portfolio only. * For instruments with put/call option, the put/call date has been taken as the maturity date. & The yield to maturity given above is based on the portfolio of funds as on date given above. This should not be taken as an indication of the returns that maybe generated by the fund and the securities bought by the fund may or may not be held till their respective maturities. The calculation is based on the invested corpus of the debt portfolio. # Based on equity, equity derivatives and Fixed Income Securities transactions only. CBLO/ Repo/FD/Margin FD/MFU/SLB are not considered. JM Financial Products Limited CRISIL AA 0.35% COMMERCIAL PAPER 6.00% Indiabulls Housing Finance Limited CRISIL A % Reliance Jio Infocomm Limited CRISIL A % HDFC Limited CRISIL A1+/ICRA A1+CRISIL AAA 1.18% IndoStar Capital Finance Limited CRISIL A % Kotak Mahindra Investments Limited CRISIL A % Edelweiss Commodities Services Limited CRISIL A1+/ ICRISIL AA 0.54% Shriram Transport Finance Company Limited CRISIL A % Vedanta Limited ICRAA % CASH & OTHER NET CURRENT ASSETS 4.55% NET ASSETS % 33 Please refer to page no 35-36, 40, for, TER, Riskometer & Statutory Details.

34 SIP PERFORMANCE OF SELECT SCHEMES (as on 30th November 2018) The Fund offers flexible and convenient Systematic Investment Plan (SIP) facility. To illustrate the advantages of SIP investments, this is how your investments would have grown if you had invested say Rs. 10,000 systematically on the first Business Day of every month over a period of time. Axis Bluechip Fund - Growth SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP Total Amount Invested 10,60,000 6,00,000 3,60,000 1,20,000 Market value as on November 30, ,38,783 8,17,108 4,40,896 1,23,422 Returns (Annualised) 13.23% 12.31% 13.63% 5.34% Benchmark Returns (Annualised) 11.51% 11.14% 12.41% 4.52% Additional Benchmark Returns (Annualised) 11.83% 11.66% 13.85% 7.23% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: Nifty 50. Additional Benchmak: S&P BSE Sensex. Inception Date: Jan 05, This scheme is managed by Shreyash Devalkar. Please refer to the Annexure for returns of all the schemes managed by them. Axis Long Term Equity Fund - Growth SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP Total Amount Invested 10,70,000 6,00,000 3,60,000 1,20,000 Market value as on November 30, ,26,324 8,46,435 4,29,810 1,20,560 Returns (Annualised) 17.68% 13.74% 11.87% 0.87% Benchmark Returns (Annualised) 12.16% 11.57% 11.43% 0.42% Additional Benchmark Returns (Annualised) 11.47% 11.14% 12.41% 4.52% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: S&P BSE 200. Additional Benchmak: Nifty 50. Inception Date: Dec 29, This scheme is managed by Jinesh Gopani. Please refer to the Annexure for returns of all the schemes managed by him. Axis Midcap Fund - Growth SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP Total Amount Invested 9,30,000 6,00,000 3,60,000 1,20,000 Market value as on November 30, ,75,826 8,41,933 4,32,977 1,20,046 Returns (Annualised) 17.65% 13.52% 12.37% 0.07% Benchmark Returns (Annualised) 14.92% 12.48% 7.10% % Additional Benchmark Returns (Annualised) 12.10% 11.14% 12.41% 4.52% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: S&P BSE Midcap. Additional Benchmak: Nifty 50. Inception Date: Feb 18, This scheme is managed by Shreyash Devalkar. Please refer to the Annexure for returns of all the schemes managed by him. Axis Focused 25 Fund - Growth SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP Total Amount Invested 7,70,000 6,00,000 3,60,000 1,20,000 Market value as on November 30, ,76,649 8,68,434 4,46,407 1,20,157 Returns (Annualised) 15.57% 14.78% 14.50% 0.24% Benchmark Returns (Annualised) 12.09% 11.14% 12.41% 4.52% Additional Benchmark Returns (Annualised) 12.91% 11.57% 11.43% 0.42% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: Nifty 50. Additional Benchmak: S&P BSE 200. Inception Date: Jun 29, This scheme is managed by Jinesh Gopani. Please refer to the Annexure for returns of all the schemes managed by him. Axis Equity Saver Fund - Growth SIP Investments Since Inception SIP 3 Year SIP 1 Year SIP Total Amount Invested 3,90,000 3,60,000 1,20,000 Market value as on November 30, ,41,033 4,03,644 1,23,061 Returns (Annualised) 7.52% 7.58% 4.77% Benchmark Returns (Annualised) 8.33% 8.30% 5.67% Additional Benchmark Returns (Annualised) 12.33% 12.41% 4.52% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: NIFTY 50 Equity Savings Index. Additional Benchmak: Nifty 50. Inception Date: August 14, This scheme is managed by Anupam Tiwari & R. Sivakumar. Please refer to the Annexure for returns of all the schemes managed by them. Axis Triple Advantage Fund - Growth SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP Total Amount Invested 9,90,000 6,00,000 3,60,000 1,20,000 Market value as on November 30, ,34,309 6,98,969 3,88,732 1,19,049 Returns (Annualised) 7.09% 6.05% 5.06% -1.47% Benchmark Returns (Annualised) 9.72% 9.25% 9.51% 4.05% Additional Benchmark Returns (Annualised) NA 6.46% 4.57% 8.29% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: NIFTY Composite Debt Index (20%), Nifty 50 (65%),Gold+15% Of INR Price of Gold. Additional Benchmak: NIFTY 10 yr Benchmark G-Sec. Inception Date: Aug 23, This scheme is managed by R. Sivakumar & Ashish Naik. Please refer to the Annexure for returns of all the schemes managed by them. Axis Regular Saver Fund - Growth SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP Total Amount Invested 10,00,000 6,00,000 3,60,000 1,20,000 Market value as on November 30, ,05,967 7,12,273 3,92,274 1,21,663 Returns (Annualised) 8.00% 6.80% 5.66% 2.59% Benchmark Returns (Annualised) 9.16% 8.50% 8.22% 6.41% Additional Benchmark Returns (Annualised) NA 6.46% 4.56% 8.24% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: NIFTY 50 Hybrid Short Duration Debt 25:75 Index. Additional Benchmak: NIFTY 10 yr Benchmark G-Sec. Inception Date: Jul 16, This scheme is managed by Devang Shah, Jinesh Gopani & Ashish Naik. Please refer to the Annexure for returns of all the schemes managed by them. Axis Dynamic Equity Fund - Growth SIP Investments Since Inception SIP 1 Year SIP Total Amount Invested 1,60,000 1,20,000 Market value as on November 30, ,63,248 1,21,015 Returns (Annualised) 2.88% 1.58% Benchmark Returns (Annualised) 5.82% 5.90% Additional Benchmark Returns (Annualised) 5.93% 4.52% ^Past performance may or may not be sustained in future. Returns greater than 1 year period are compounded annualized. Benchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index. Additional Benchmak: Nifty 50. Inception Date: August 1, This scheme is managed by Anupam Tiwari, R. Sivakumar & Ashwin Patni. Please refer to the Annexure for returns of all the schemes managed by them. SIP returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return). 34

35 Equity Funds (as on 30th November 2018) Axis Bluechip Fund Axis Focused 25 Fund Axis Midcap Fund (`) Dividend Growth Direct Plan - Dividend Direct Plan - Growth (`) Dividend Growth Direct Plan - Dividend Direct Plan - Growth (`) Dividend Growth Direct Plan - Dividend Direct Plan - Growth Axis Long Term Equity Fund (`) Dividend Growth Direct Plan - Dividend Direct Plan - Growth Axis Multicap Fund (`) Dividend Growth Direct Dividend Direct Growth Axis Arbitrage Fund (`) Dividend Growth Direct Dividend Direct Growth Debt Funds (as on 30th November 2018) Axis Liquid Fund Axis Treasury Advantage Fund Axis Short Term Fund (`) Daily Dividend Growth Monthly Dividend Weekly Dividend Retail Daily Dividend Retail Growth Retail Monthly Dividend Retail Weekly Dividend Direct Bonus Direct plan - Daily Dividend Direct plan - Growth Direct plan - Monthly Dividend Direct plan - Weekly Dividend Axis Dynamic Bond Fund (`) Growth Half Yearly Dividend Quarterly Dividend Direct Plan - Growth option Direct Plan - Half Yearly Dividend option Direct Plan - Quarterly Dividend option Axis Credit Risk Fund (`) Growth Monthly Dividend Weekly Dividend Direct Growth Direct Monthly Dividend Direct Weekly Dividend Axis Ultra Short Term Fund (`) Regular Plan Regular Dividend Regular Plan Daily Dividend Regular Plan Growth Regular Plan Monthly Dividend Regular Plan Weekly Dividend Direct Plan Regular Dividend Direct Plan Daily Dividend Direct Plan Growth Direct Plan Monthly Dividend Direct Plan Weekly Dividend (`) Daily Dividend Growth Monthly Dividend Weekly Dividend Retail Daily Dividend Retail Growth Retail Monthly Dividend Retail Weekly Dividend Direct Plan - Daily Dividend option Direct Plan - Growth option Direct Plan - Monthly Dividend option Direct Plan - Weekly Dividend option Axis Corporate Debt Fund (`) Regular Plan Regular Dividend Regular Plan Daily Dividend Regular Plan Growth Regular Plan Monthly Dividend Regular Plan Weekly Dividend Direct Plan Regular Dividend Direct Plan Daily Dividend Direct Plan Growth Direct Plan Monthly Dividend Direct Plan Weekly Dividend Axis Gilt Fund (`) Growth Half Yearly Dividend Regular Dividend Direct Plan - Growth option Direct Plan - Half Yearly Dividend option Direct Plan - Regular Dividend option (`) Bonus Growth Monthly Dividend Weekly Dividend Regular Dividend Retail Growth Retail Monthly Dividend Retail Weekly Dividend Direct Plan - Regular Dividend Direct Plan - Growth option Direct Plan - Monthly Dividend option Direct Plan - Weekly Dividend option Axis Strategic Bond Fund (`) Growth Half Yearly Dividend Quarterly Dividend Direct Plan - Growth option Direct Plan - Half Yearly Dividend option Direct Plan - Quarterly Dividend option Axis Banking & PSU Debt Fund (`) Daily Dividend Growth Monthly Dividend Weekly Dividend Direct Plan - Daily Dividend option Direct Plan - Growth option Direct Plan - Monthly Dividend option Direct Plan - Weekly Dividend option

36 Axis Equity Saver Fund Hybrid Funds (as on 30th November 2018) Axis Children s Gift Fund Axis Regular Saver Fund (`) Regular Dividend Growth Monthly Dividend Quarterly Dividend Direct Regular Dividend Direct Growth Direct Monthly Dividend Direct Quarterly Dividend Axis Dynamic Equity Fund (`) Dividend Growth Direct Dividend Direct Growth (`) Direct Plan - No Lock-In - Dividend Direct Plan - No Lock-In - Growth No Lock-In - Dividend No Lock-In - Growth Compulsory Lock-In - Dividend Compulsory Lock-In - Growth Dir Plan - Comp Lock-In - Dividend Dir Plan - Comp Lock-In - Growth Axis Triple Advantage Fund (`) Dividend Growth Direct Plan - Dividend Direct Plan - Growth (`) Growth Dividend - Half Yearly Dividend - Quarterly Dividend - Annual Direct Plan - Growth option Direct Plan - Half Yearly Dividend option Direct Plan - Quarterly Dividend option Direct Plan - Annual Dividend option Axis Equity Hybrid Fund (`) Regular Regular Dividend 9.79 Regular Growth 9.79 Regular Monthly Dividend 9.79 Regular Quarterly Dividend 9.79 Direct Regular Dividend 9.85 Direct Growth 9.85 Direct Monthly Dividend 9.85 Direct Quarterly Dividend

37 MINIMUM INVESTMENT AMOUNT DETAILS Fund Name Minimum Investment Amount (`) Additional Purchase Amount (`) Minimum SIP Amount / in Multipules of (`) Minimum Installments Axis Bluechip Fund 5,000/1 100/1 1,000/1 12 Axis Focused 25 Fund 5,000/1 100/1 1,000/1 12 Axis Long Term Equity Fund 500/ / / Axis Midcap Fund 5,000/1 100/1 1,000/1 12 Axis Multicap Fund 5,000/1 100/1 1,000/1 12 Axis Equity Saver Fund 5,000/1 100/1 1,000/1 12 Axis Triple Advantage Fund 5,000/1 100/1 1,000/1 12 Axis Regular Saver Fund 5,000/1 100/1 1,000/1 12 Axis Gilt Fund 5,000/1 100/1 1,000/1 12 Axis Dynamic Bond Fund 5,000/1 100/1 1,000/1 12 Axis Corporate Debt Fund 5,000/1 100/1 1,000/1 12 Axis Strategic Bond Fund 5,000/1 100/1 1,000/1 12 Axis Credit Risk Fund 5,000/1 100/1 1,000/1 12 Axis Short Term Fund 5,000/1 1,000/1 1,000/1 12 Axis Banking & PSU Debt Fund 5,000/1 1,000/1 1,000/1 12 Axis Treasury Advantage Fund 5,000/1 1,000/1 1,000/1 12 Axis Ultra Short Term Fund 5,000/1 100/1 1,000/1 12 Axis Liquid Fund Growth : `500 and in multiples of ` 1/- thereafter All other s:` 5,000 and in multiples of `1/- thereafter Growth : ` 500 and in multiples of ` 1/- thereafter All other s: ` 1,000 and in multiples of ` 1/- thereafter - - Axis Arbitrage Fund 5,000/1 100/1 1,000/1 12 Axis Children s Gift Fund 5,000/1 100/1 1,000/1 12 Axis Dynamic Equity Fund 5,000/1 100/1 1,000/1 12 Axis Equity Hybrid Fund 5,000/1 100/1 1,000/1 12 Please refer to the website for current load structure. For complete information refer Key Information Memorandum (KIM) or Scheme Information Doucment (SID). 37

38 ANNEXURE FOR RETURNS OF ALL THE SCHEMES (as on 30 th November 2018) 1 Year 3 Years 5 Years Since Inception Date of inception Investment of ` 10,000 Investment of ` 10,000 Investment of ` 10,000 Value Of Investment Of ` 10,000 Was Invested On FUNDS MANAGED BY SHREYASH DEVALKAR (TOTAL SCHEMES MANAGED : 5 SCHEMES) Axis Bluechip Fund - Growth 9.68% 10, % 14, % 20, % 26,860 Nifty 50 (Benchmark) 05-Jan % 10, % 14, % 18, % 22,983 S&P BSE Sensex (Additional Benchmark) 10.52% 11, % 14, % 18, % 23,315 Axis Bluechip Fund - Direct Plan - Growth 11.21% 11, % 14, % 21, % 23,621 Nifty 50 (Benchmark) 01-Jan % 10, % 14, % 18, % 19,683 S&P BSE Sensex (Additional Benchmark) 10.52% 11, % 14, % 18, % 20,117 Axis Midcap Fund - Growth 3.91% 10, % 13, % 25, % 34,520 S&P BSE Midcap (Benchmark) 18-Feb % 8, % 14, % 25, % 25,111 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 21,972 Axis Midcap Fund - Direct Plan - Growth 4.99% 10, % 14, % 27, % 27,027 S&P BSE Midcap (Benchmark) 01-Jan % 8, % 14, % 25, % 22,583 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 19,683 Axis Equity Advantage Fund - Series % 10,423 NA NA NA NA 6.99% 11,080 75% Nifty % Crisil Composite Bond Fund Index (Benchmark) 25-May % 10,695 NA NA NA NA 9.43% 11,466 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 10.94% 11,707 Axis Equity Advantage Fund - Series 1 - Direct Plan % 10,587 NA NA NA NA 8.76% 11,360 75% Nifty % Crisil Composite Bond Fund Index (Benchmark) 25-May % 10,695 NA NA NA NA 9.43% 11,466 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 10.94% 11,707 Axis Equity Advantage Fund - Series % 10,680 NA NA NA NA 5.09% 10,680 75% Nifty % Crisil Composite Bond Fund Index (s2) (Benchmark) 03-Aug % 10,695 NA NA NA NA 6.67% 10,893 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 7.75% 11,041 Axis Equity Advantage Fund - Series 2 - Direct Plan % 10,885 NA NA NA NA 7.08% 10,950 75% Nifty % Crisil Composite Bond Fund Index (s2) (Benchmark) 03-Aug % 10,695 NA NA NA NA 6.67% 10,893 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 7.75% 11,041 Axis Multicap Fund % 10,811 NA NA NA NA 7.78% 10,800 Nifty 500 (Benchmark) 20-Nov % 10,074 NA NA NA NA 0.64% 10,066 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.87% 10,707 Axis Multicap Fund - Direct Plan % 11,001 NA NA NA NA 9.62% 10,990 Nifty 500 (Benchmark) 20-Nov % 10,074 NA NA NA NA 0.64% 10,066 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.87% 10,707 FUNDS MANAGED BY JINESH GOPANI (TOTAL SCHEMES MANAGED : 5 SCHEMES) Axis Long Term Equity Fund - Growth* 5.82% 10, % 14, % 25, % 42,559 S&P BSE 200 (Benchmark) 29-Dec % 10, % 14, % 20, % 24,145 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 23,382 Axis Long Term Equity Fund - Direct Plan - Growth* 6.90% 10, % 14, % 26, % 30,535 S&P BSE 200 (Benchmark) 01-Jan % 10, % 14, % 20, % 20,545 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 19,683 Axis Focused 25 Fund - Growth 4.17% 10, % 15, % 21, % 26,490 Nifty 50 (Benchmark) 29-Jun % 10, % 14, % 18, % 22,301 S&P BSE 200 (Additional Benchmark) 3.54% 10, % 14, % 20, % 23,681 Axis Focused 25 Fund - Direct Plan - Growth 5.37% 10, % 15, % 23, % 24,383 Nifty 50 (Benchmark) 01-Jan % 10, % 14, % 18, % 19,683 S&P BSE 200 (Additional Benchmark) 3.54% 10, % 14, % 20, % 20,545 Axis Emerging Opportunities Fund - Series 1 (1400 Days) % 9,777 NA NA NA NA 9.19% 11,840 S&P BSE Midcap (Benchmark) 29-Dec % 8,977 NA NA NA NA 14.22% 12,909 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 18.16% 13,779 Axis Emerging Opportunities Fund - Series 1 (1400 Days) - Direct -0.73% 9,927 NA NA NA NA 10.91% 12,200 - Growth S&P BSE Midcap (Benchmark) 29-Dec % 8,977 NA NA NA NA 14.22% 12,909 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 18.16% 13,779 FUNDS MANAGED BY R.SIVAKUMAR (TOTAL SCHEMES MANAGED : 7 SCHEMES) Axis Equity Saver Fund % 10, % 12,467 NA NA 6.69% 12,380 NIFTY 50 Equity Savings Index (Benchmark) 14-Aug % 10, % 12,838 NA NA 7.55% 12,714 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,260 NA NA 9.06% 13,312 Axis Equity Saver Fund - Direct Plan % 10, % 12,932 NA NA 7.97% 12,880 NIFTY 50 Equity Savings Index (Benchmark) 14-Aug % 10, % 12,838 NA NA 7.55% 12,714 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,260 NA NA 9.06% 13,312 Axis Triple Advantage Fund - Growth 1.68% 10, % 12, % 14, % 18,378 NIFTY Composite Debt Index (20%), Nifty 50 (65%),Gold (15%) (Benchmark) 23-Aug % 10, % 13, % 16, % 20,632 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14,768 #VALUE! #VALUE! Axis Triple Advantage Fund - Direct Plan Growth 2.67% 10, % 12, % 15, % 15,423 NIFTY Composite Debt Index (20%), Nifty 50 (65%),Gold (15%) (Benchmark) 01-Jan % 10, % 13, % 16, % 17,185 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 14,565 Axis Dynamic Bond Fund - Growth 4.65% 10, % 12, % 15, % 18,243 NIFTY Composite Debt Index (Benchmark) 27-Apr % 10, % 12, % 15, % 18,103 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 16,596 Axis Dynamic Bond Fund - Direct Plan - Growth 5.58% 10, % 12, % 15, % 16,711 NIFTY Composite Debt Index (Benchmark) 01-Jan % 10, % 12, % 15, % 15,620 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 14,565 Axis Capital Protection Oriented Fund - Series 5 # 3.81% 10, % 12, % 14, % 15,649 Crisil Hybrid Conservative Index (Benchmark) 02-Nov % 10, % 12, % 16, % 17,000 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,579 Axis Childrens Gift Fund - Compulsory Lock-in - Regular Plan % 10,177 NA NA NA NA 8.00% 12,579 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Childrens Gift Fund - Compulsory Lock-in - Direct Plan % 10,340 NA NA NA NA 9.76% 13,199 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Childrens Gift Fund - No Lock-in - Regular Plan % 10,177 NA NA NA NA 8.00% 12,578 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Childrens Gift Fund - No Lock-in - Direct Plan % 10,352 NA NA NA NA 10.06% 13,306 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Dynamic Equity Fund - Growth 3.90% 10,390 NA NA NA NA 4.92% 10,660 NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 1-Aug % 10,606 NA NA NA NA 5.31% 10,713 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.92% 10,932 Axis Dynamic Equity Fund - Direct Plan - Growth 5.62% 10,562 NA NA NA NA 6.69% 10,900 NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 1-Aug % 10,606 NA NA NA NA 5.31% 10,713 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.92% 10,932 FUNDS MANAGED BY ASHISH NAIK (TOTAL SCHEMES MANAGED : 6 SCHEMES) Axis Triple Advantage Fund - Growth 1.68% 10, % 12, % 14, % 18,378 NIFTY Composite Debt Index (20%), Nifty 50 (65%),Gold (15%) (Benchmark) 23-Aug % 10, % 13, % 16, % 20,632 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14,768 #VALUE! #VALUE! Axis Triple Advantage Fund - Direct Plan Growth 2.67% 10, % 12, % 15, % 15,423 NIFTY Composite Debt Index (20%), Nifty 50 (65%),Gold (15%) (Benchmark) 01-Jan % 10, % 13, % 16, % 17,185 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 14,565 Axis Regular Saver Fund - Growth # 3.46% 10, % 12, % 15, % 18,919 NIFTY 50 Hybrid Short Duration Debt 25:75 Index (Benchmark) 16-Jul % 10, % 12, % 15, % 20,510 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14,768 #VALUE! #VALUE! Axis Regular Saver Fund - Direct Plan - Growth # 4.65% 10, % 12, % 16, % 17,382 NIFTY50 Hybrid Short Duration Debt 25:75 Index (Benchmark) 04-Jan % 10, % 12, % 15, % 16,860 NIFTY 10 yr Benchmark G-Sec (Additional Benchmark) 2.58% 10, % 12, % 14, % 14,496 Axis Childrens Gift Fund - Compulsory Lock-in - Regular Plan % 10,177 NA NA NA NA 8.00% 12,579 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Inception Date 38

39 ANNEXURE FOR RETURNS OF ALL THE SCHEMES (as on 30 th November 2018) 1 Year 3 Years 5 Years Since Inception Date of inception Investment of ` 10,000 Investment of ` 10,000 Investment of ` 10,000 Value Of Investment Of ` 10,000 Was Invested On Axis Childrens Gift Fund - Compulsory Lock-in - Direct Plan % 10,340 NA NA NA NA 9.76% 13,199 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Childrens Gift Fund - No Lock-in - Regular Plan % 10,177 NA NA NA NA 8.00% 12,578 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Childrens Gift Fund - No Lock-in - Direct Plan % 10,352 NA NA NA NA 10.06% 13,306 NIFTY 50 Hybrid Composite Debt 65:35 Index (Benchmark) 08-Dec % 10,666 NA NA NA NA 11.61% 13,874 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 13.78% 14,692 Axis Nifty ETF 7.77% 10,777 NA NA NA NA 11.36% 11, Jul-17 Nifty 50 (Benchmark) 7.82% 10,782 NA NA NA NA 10.62% 11,531 FUNDS MANAGED BY ADITYA PAGARIA (TOTAL SCHEMES MANAGED : 5 SCHEMES) Axis Liquid Fund - Growth 7.37% 10, % 12, % 14, % 20,155 NIFTY Liquid Index (Benchmark) 09-Oct % 10, % 12, % 14, % 20,056 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,350 Axis Liquid Fund - Direct Plan - Growth 7.43% 10, % 12, % 14, % 15,895 NIFTY Liquid Index (Benchmark) 31-Dec % 10, % 12, % 14, % 15,729 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,382 Axis Liquid Fund - Retail Plan - Growth 6.75% 10, % 12, % 14, % 19,062 NIFTY Liquid Index (Benchmark) 01-Mar % 10, % 12, % 14, % 19,787 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,085 Axis Treasury Advantage Fund - Growth 6.82% 10, % 12, % 14, % 20,233 NIFTY Low Duration Debt Index (Benchmark) 09-Oct % 10, % 12, % 14, % 20,611 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,350 Axis Treasury Advantage Fund - Direct Plan - Growth 7.38% 10, % 12, % 14, % 16,254 NIFTY Low Duration Debt Index (Benchmark) 01-Jan % 10, % 12, % 14, % 15,910 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,376 Axis Treasury Advantage Fund - Retail Plan - Growth 6.63% 10, % 12, % 14, % 18,934 NIFTY Low Duration Debt Index (Benchmark) 03-Mar % 10, % 12, % 14, % 20,161 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,082 Axis Banking & PSU Debt Fund - Growth 6.85% 10, % 12, % 14, % 16,761 NIFTY Banking & PSU Debt Index (Benchmark) 08-Jun % 10, % 12, % 14, % 16,661 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 16,020 Axis Banking & PSU Debt Fund - Direct Plan - Growth 7.15% 10, % 12, % 14, % 16,106 NIFTY Banking & PSU Debt Index (Benchmark) 01-Jan % 10, % 12, % 14, % 15,720 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,376 FUNDS MANAGED BY ANUPAM TIWARI (TOTAL SCHEMES MANAGED : 6 SCHEMES) Axis Equity Saver Fund % 10, % 12,467 NA NA 6.69% 12,380 NIFTY50 Equity Savings Index (Benchmark) 14-Aug % 10, % 12,838 NA NA 7.55% 12,714 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,260 NA NA 9.06% 13,312 Axis Equity Saver Fund - Direct Plan % 10, % 12,932 NA NA 7.97% 12,880 NIFTY50 Equity Savings Index (Benchmark) 14-Aug % 10, % 12,838 NA NA 7.55% 12,714 Nifty 50 (Additional Benchmark) 7.82% 10, % 14,260 NA NA 9.06% 13,312 Axis Small Cap Fund % 9, % 13, % 26, % 26,080 Nifty Smallcap 100 (Benchmark) 29-Nov % 7, % 11, % 20, % 20,566 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 18,742 Axis Small Cap Fund - Direct Plan % 9, % 13, % 27, % 27,580 Nifty Smallcap 100 (Benchmark) 29-Nov % 7, % 11, % 20, % 20,566 Nifty 50 (Additional Benchmark) 7.82% 10, % 14, % 18, % 18,742 Axis Dynamic Equity Fund - Growth 3.90% 10,390 NA NA NA NA 4.92% 10,660 NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 1-Aug % 10,606 NA NA NA NA 5.31% 10,713 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.92% 10,932 Axis Dynamic Equity Fund - Direct Plan - Growth 5.62% 10,562 NA NA NA NA 6.69% 10,900 NIFTY 50 Hybrid Composite Debt 50:50 Index (Benchmark) 1-Aug % 10,606 NA NA NA NA 5.31% 10,713 Nifty 50 (Additional Benchmark) 7.82% 10,782 NA NA NA NA 6.92% 10,932 Axis Emerging Opportunities Fund - Series 1 (1400 Days) % 9,777 NA NA NA NA 9.19% 11,840 S&P BSE MidCap (Benchmark) 29-Dec % 8,977 NA NA NA NA 14.22% 12,909 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 18.16% 13,779 Axis Emerging Opportunities Fund - Series 1 (1400 Days) - Direct -0.73% 9,927 NA NA NA NA 10.91% 12,200 - Growth S&P BSE MidCap (Benchmark) 29-Dec % 8,977 NA NA NA NA 14.22% 12,909 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 18.16% 13,779 Axis Emerging Opportunities Fund - Series 2 (1400 Days) % 9,795 NA NA NA NA 8.07% 11,460 S&P BSE MidCap (Benchmark) 27-Feb % 8,977 NA NA NA NA 7.43% 11,341 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 13.75% 12,539 Axis Emerging Opportunities Fund - Series 2 (1400 Days) - Direct -0.59% 9,941 NA NA NA NA 9.72% 11,770 - Growth S&P BSE MidCap (Benchmark) 27-Feb % 8,977 NA NA NA NA 7.43% 11,341 Nifty 50 (Additional-l Benchmark) 7.82% 10,782 NA NA NA NA 13.75% 12,539 TOP 3 FUNDS MANAGED BY ASHWIN PATNI (TOTAL SCHEMES MANAGED : 21 SCHEMES) Axis Arbitrage Fund - Growth 6.45% 10, % 11,991 NA NA 6.60% 13,162 Nifty 50 Arbitrage Index (Benchmark) 14-Aug % 10, % 11,652 NA NA 6.01% 12,849 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.54% 13,669 Axis Arbitrage Fund - Direct Plan - Growth 7.33% 10, % 12,290 NA NA 7.49% 13,641 Nifty 50 Arbitrage Index (Benchmark) 14-Aug % 10, % 11,652 NA NA 6.01% 12,849 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.54% 13,669 Axis Hybrid Fund - Series 24 - Growth 5.86% 10, % 12,584 NA NA 5.84% 12,168 CRISIL Hybrid Conservative Index (Benchmark) 17-Jun % 10, % 12,709 NA NA 8.42% 13,226 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.21% 12,723 Axis Hybrid Fund - Series 24 - Direct Plan - Growth 7.33% 10, % 13,090 NA NA 7.21% 12,721 CRISIL Hybrid Conservative Index (Benchmark) 17-Jun % 10, % 12,709 NA NA 8.42% 13,226 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.21% 12,723 Axis Hybrid Fund - Series 25 - Growth 5.80% 10, % 12,284 NA NA 5.80% 12,022 CRISIL Hybrid Conservative Index (Benchmark) 25-Aug % 10, % 12,709 NA NA 8.40% 13,016 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.17% 12,540 Axis Hybrid Fund - Series 25 - Direct Plan - Growth 7.28% 10, % 12,779 NA NA 7.18% 12,543 CRISIL Hybrid Conservative Index (Benchmark) 25-Aug % 10, % 12,709 NA NA 8.40% 13,016 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12,278 NA NA 7.17% 12,540 BOTTOM 3 FUNDS MANAGED BY ASHWIN PATNI (TOTAL SCHEMES MANAGED : 21 SCHEMES) Axis Hybrid Fund - Series 6 - Growth 2.61% 10, % 10, % 12, % 13,443 CRISIL Hybrid Conservative Index (Benchmark) 16-Aug % 10, % 12, % 16, % 17,000 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,980 Axis Hybrid Fund - Series 6 - Direct Plan - Growth 3.67% 10, % 11, % 13, % 14,158 CRISIL Hybrid Conservative Index (Benchmark) 16-Aug % 10, % 12, % 16, % 17,000 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,980 Axis Hybrid Fund - Series 7 - Growth 2.56% 10, % 10, % 12, % 13,444 CRISIL Hybrid Conservative Index (Benchmark) 05-Sep % 10, % 12, % 16, % 16,591 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,852 Axis Hybrid Fund - Series 5 - Growth 2.39% 10, % 10, % 12, % 13,037 CRISIL Hybrid Conservative Index (Benchmark) 25-Jul % 10, % 12, % 16, % 16,500 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,987 Axis Hybrid Fund - Series 5 - Direct Plan - Growth 3.46% 10, % 10, % 13, % 13,733 CRISIL Hybrid Conservative Index (Benchmark) 25-Jul % 10, % 12, % 16, % 16,500 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,987 TOP 3 FUNDS MANAGED BY DEVANG SHAH (TOTAL SCHEMES MANAGED : 33 SCHEMES) Axis Liquid Fund - Growth 7.37% 10, % 12, % 14, % 20,155 NIFTY Liquid Index (Benchmark) 09-Oct % 10, % 12, % 14, % 20,056 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,350 Axis Liquid Fund - Direct Plan - Growth 7.43% 10, % 12, % 14, % 15,895 NIFTY Liquid Index (Benchmark) 31-Dec % 10, % 12, % 14, % 15,729 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15, Inception Date

40 ANNEXURE FOR RETURNS OF ALL THE SCHEMES (as on 30 th November 2018) Date of inception Investment of ` 10,000 1 Year 3 Years 5 Years Since Inception Of ` 10,000 Was Invested On Inception Date Axis Liquid Fund - Retail - Growth 6.75% 10, % 12, % 14, % 19,062 NIFTY Liquid Index (Benchmark) 01-Mar % 10, % 12, % 14, % 19,787 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,085 Axis Corporate Debt Fund - Growth 7.07% 10,707 NA NA NA NA 7.04% 10,988 NIFTY Corporate Bond Index (Benchmark) 13-Jul % 10,467 NA NA NA NA 5.01% 10,700 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10,710 NA NA NA NA 6.88% 10,965 Axis Corporate Debt Fund - Direct Plan - Growth 8.00% 10,800 NA NA NA NA 7.99% 11,122 NIFTY Corporate Bond Index (Benchmark) 13-Jul % 10,467 NA NA NA NA 5.01% 10,700 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10,710 NA NA NA NA 6.88% 10,965 Axis Treasury Advantage Fund - Growth 6.82% 10, % 12, % 14, % 20,233 NIFTY Low Duration Debt Index (Benchmark) 09-Oct % 10, % 12, % 14, % 20,611 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,350 Axis Treasury Advantage Fund - Direct Plan - Growth 7.38% 10, % 12, % 14, % 16,254 NIFTY Low Duration Debt Index (Benchmark) 01-Jan % 10, % 12, % 14, % 15,910 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 15,376 Axis Treasury Advantage Fund - Retail - Growth 6.63% 10, % 12, % 14, % 18,934 NIFTY Low Duration Debt Index (Benchmark) 03-Mar % 10, % 12, % 14, % 20,161 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 18,082 BOTTOM 3 FUNDS MANAGED BY DEVANG SHAH (TOTAL SCHEMES MANAGED : 33 SCHEMES) Axis Gold ETF 2.51% 10, % 11, % 10, % 13, Nov-10 Domestic Price of Gold (Benchmark) 2.91% 10, % 12, % 10, % 13,660 Axis Hybrid Fund - Series 5 - Growth 2.39% 10, % 10, % 12, % 13,037 CRISIL Hybrid Conservative Index (Benchmark) 25-Jul % 10, % 12, % 16, % 16,500 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,987 Axis Hybrid Fund - Series 5 - Direct Plan - Growth 3.46% 10, % 10, % 13, % 13,733 CRISIL Hybrid Conservative Index (Benchmark) 25-Jul % 10, % 12, % 16, % 16,500 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10, % 12, % 14, % 14,987 Axis Hybrid Fund - Series 29 - Growth 4.20% 10,420 NA NA NA NA 9.06% 12,783 Crisil Composite Bond Fund Index (85%) and Nifty 50 (15%) Benchmark) 01-Feb % 10,447 NA NA NA NA 8.73% 12,674 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10,710 NA NA NA NA 7.05% 12,127 Axis Hybrid Fund - Series 29 - Direct Plan - Growth 5.65% 10,565 NA NA NA NA 10.52% 13,272 Crisil Composite Bond Fund Index (85%) and Nifty 50 (15%) Benchmark) 01-Feb % 10,447 NA NA NA NA 8.73% 12,674 NIFTY 1 Year T-Bill Index (Additional Benchmark) 7.10% 10,710 NA NA NA NA 7.05% 12,127 Axis Gilt Fund - Growth 2.19% 10, % 11, % 14, % 15, Jan-12 NIFTY All Duration G-Sec Index (Benchmark) 5.09% 10, % 12, % 15, % 16,323 Axis Gilt Fund - Direct Plan - Growth 2.73% 10, % 12, % 14, % 14, Jan-13 NIFTY All Duration G-Sec Index (Benchmark) 5.09% 10, % 12, % 15, % 15,035 Past performance may or may not be sustained in future. Calculations are based on Growth. Above data excludes schemes which have not completed a year. The above data excludes performance of direct plans of schemes which have not completed a year. Additional Benchmark of certain schemes have been changed w.e.f. September 30, Past performance may or may not be sustained in the future. Calculations are based on Growth. Since inception returns are calculated on Rs.1,000/- invested at inception for Axis Liquid Fund, Axis Treasury Advantage Fund and Axis Banking & PSU Debt Fund, on Rs. 2, /- invested at inception for Axis Gold ETF and on Rs. 10/- invested at inception for all other schemes. Different plans have different expense structure. Plan of the scheme for which performance is given is indicated above. The above data excludes performance of Fixed Maturity Plans and all the schemes which have not completed a year. Jinesh Gopani is managing Axis Long Term Equity Fund since 1st April 2011, Axis Focused 25 Fund since 7th June 2016 and Axis Emerging Opportunites Fund Series 1 and Series 2 since inception, Axis Growth Opportunities Fund since inception. Shreyash Devalkar is managing Axis Bluechip Fund, Axis Midcap Fund since 23rd November 2016, Axis Equity Advantage Fund - Series 1 and Axis Equity Advantage Fund - Series 2 since inception and Axis Multicap Fund since 20th November Anupam Tiwari is managing Axis Equity Saver Fund and Axis Small Cap Fund since 6th October, 2016, Axis Emerging Opportunities Fund - Series 1 since 29th December 2016, Axis Emerging Opportunities Fund - Series 2 since 17th Feb 2017, Axis Dynamic Equity Fund since inception & Axis Capital Builder Fund - Series 1 since 8th March 2018, Ashwin Patni is managing Axis Arbitrage Fund, Axis Capital Protection Oriented Fund Series 5 and all Axis Hybrid Funds since 27th April, 2015 (since inception date for Axis Hybrid Funds launched after 27th April, 2015) and Axis Equity Advantage Fund - Series 1 since 25th May, 2017, Axis Equity Advantage Fund - Series 2 since inception, Axis Dynamic Equity Fund since inception. Devang Shah is managing Axis Liquid Fund, Axis Dynamic Bond Fund, Axis Gilt Fund, Axis Strategic Bond Fund and Axis Short Term Fund and all Axis Hybrid Funds since 5th November 2012 (since inception date for Axis Hybrid Funds launched after 5th November, 2012), Axis Credit Risk Fund and Axis Arbitrage Fund since inception and Axis Treasury Advantage Fund and Axis Regular Saver Fund (Debt portion), Axis Gold Fund, Axis Gold ETF, all Axis Fixed Term Plans since 7th June, 2016 (since inception date for Axis Fixed Term Plans launched after 7th June, 2016) and Axis Corporate Debt Fund since July 13th, Ashish Naik is managing the equity portion of Axis Regular Saver Fund and Axis Triple Advantage Fund since 22nd June 2016 and Axis Children s Gift Fund since July 6th, 2016 and Axis Nifty ETF since July 3rd 2017, Axis Capital Builder Fund - Series 1 since 8th March 2018, Axis Equity Hybrid Fund since inception. Aditya Pagaria is managing Axis Ultra short term fund since inception and Axis Liquid Fund, Axis Treasury Advantage Fund, Axis Banking & PSU Debt Fund since 13th August, 2016 & Axis Equity Advantage Fund Series - 1 since 26th May, R. Sivakumar is managing Axis Dynamic Bond Fund, Axis Equity Saver Fund (debt potion) and Axis Capital Protection Oriented Fund Series 5 since inception, Axis Triple Advantage Fund since 14th September 2010 and Axis Children s Gift Fund (debt portion) since 7th June 2016, Axis Dynamic Equity Fund since inception, Axis Equity Hybrid Fund since inception. Investment of ` 10,000 Investment of ` 10,000 Value Of performance data for 3 years & 5 years period has not been provided, since scheme is in existence for less than 3 performance data for 5 years period has not been provided, since scheme is in existence for less than 5 years. W.e.f January 1, 2013, Axis Short Term Fund - Institutional Plan, Axis Treasury Advantage Fund - Institutional Plan & Axis Liquid Fund - Institutional Plan have been renamed Axis Short Term Fund, Axis Treasury Advantage Fund & Axis Liquid Fund, respectively. * An open ended equity linked savings scheme with a 3 year lock-in. # Scheme Performance may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme. Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd. (liability restricted to ` 1 lakh). Trustee: Axis Mutual Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC). Risk Factors: Axis Bank Ltd. is not liable or responsible for any loss or shortfall resulting from the operation of the scheme. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Total Expense Ratio** Scheme - Regular Plan / Retail Plan / Direct Plan : Axis Liquid Fund : 0.16% / 0.74% / 0.11%, Axis Treasury Advantage Fund : 0.72% / 0.72% / 0.25%, Axis Banking & PSU Debt Fund : 0.56% / 0.29%, Axis Short Term Fund : 0.91% / 0.91%/ 0.28%, Axis Dynamic Bond Fund : 1.41% / 0.62%, Axis Gilt Fund : 0.68% / 0.22%, Axis Strategic Bond Fund : 1.05% / 0.41%, Axis Credit Risk Fund : 1.70% / 0.58%, Axis Arbitrage Fund : 1.00% / 0.28%, Axis Corporate Debt Fund : 1.04% / 0.28%, Axis Regular Saver* : 2.49% / 1.35%, Axis Long Term Equity Fund*: 2.08% / 0.95%, Axis Focused 25 Fund* : 2.24% / 0.77%, Axis Bluechip Fund* : 2.30% / 0.90%, Axis Triple Advantage Fund* : 2.35% / 1.24%, Axis Midcap Fund*: 2.41% / 1.03%, Axis Equity Saver Fund* : 2.68% / 1.69%, Axis Children s Gift Fund* : 2.49% / 0.95%, Axis Dynamic Equity Fund* : 2.29% / 0.68%, Axis Multi Cap Fund* : 2.27% / 0.61%, Axis Equity Hybrid Fund* : 2.27% / 0.58%, Axis Ultra Short Term Fund : 1.03% / 0.28%, Axis Growth Opportunities Fund* : 2.60% / 0.63% *The rates mentioned above are inclusive of a proportionate charge in respect sales beyond T-30 cities subject to maximum of 30 bps on daily net assets has been charged in these schemes. 1. Total Expenses Ratio is inclusive of GST 2. **Total Expenses Ratio is of last day of the month 40

41 PRODUCT LABELLING AXIS BLUECHIP FUND (An open ended equity scheme predominantly investing in large cap stocks) Capital appreciation over long term Investment in a diversified portfolio predominantly consisting of equity and equity related instruments of large cap companies AXIS FOCUSED 25 FUND (An open ended equity scheme investing in maximum 25 stocks investing in large cap, mid cap and small cap companies.) Capital appreciation over long term Investment in a concentrated portfolio of equity & equity related instruments of up to 25 companies AXIS LONG TERM EQUITY FUND (An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit) Capital appreciation & generating income over long term Investment in a diversified portfolio predominantly consisting of equity and equity related instruments AXIS MIDCAP FUND (An open ended equity scheme predominantly investing in Mid Cap stocks) Capital appreciation over long term Investing predominantly in equity & equity related instruments of Mid Cap companies. AXIS MULTICAP FUND (An open ended equity scheme investing across large cap, mid cap, small cap stocks) Capital appreciation over medium to long term Investment in a diversified portfolio consisting of equity and equity related instruments across market capitalization. AXIS TRIPLE ADVANTAGE FUND (An open ended scheme investing in equity, debt and gold) Capital appreciation & generating income over long term Investment in a diversified portfolio of equity and equity related instruments, fixed income instruments & gold exchange traded funds AXIS REGULAR SAVER FUND (An open ended hybrid scheme investing predominantly in debt instruments) Capital appreciation while generating income over medium to long term Investment in debt and money market instruments as well as equity and equity related instruments AXIS GOLD ETF (An open ended scheme replicating/tracking Domestic Price of Gold) Capital Appreciation over medium to long term Invests predominantly in gold in order to generate returns similar to the performance of gold, subject to tracking error AXIS GOLD FUND (An open ended fund of fund scheme investing in Axis Gold ETF) Capital Appreciation over medium to long term Invests predominantly in Axis Gold ETF in order to generate returns similar to the underlying fund, subject to tracking error AXIS EQUITY SAVER FUND (An Open Ended Scheme Investing In Equity, Arbitrage And Debt) Capital Appreciation while generating income over medium to long term Provide capiltal appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities and investments in debt and money market instruments AXIS CHILDREN S GIFT FUND (An open ended fund for investment for children, having a lock-in of 5 years or till the child attains age of majority (whichever is earlier)) Capital appreciation & generating income over long term Investment in debt and money market instruments as well as equity and equity related instruments AXIS DYNAMIC EQUITY FUND (An open ended dynamic assetallocation fund) Capital appreciation & generating income over medium to long term Investment in equity and equity related instruments as well as debt and money market instruments while managing risk through active asset allocation AXIS NIFTY ETF (An open ended Scheme replicating/ tracking Nifty 50 Index) Capital appreciation over medium to long term Investments in Equity & Equity related instruments covered by Nifty 50 Index AXIS EQUITY HYBRID FUND (An open-ended hybrid scheme investing predominantly in equity and equity related instruments) Capital appreciation along with generation of income over medium to long term. Investment in equity and equity related instruments as well as debt and money market instruments. AXIS GILT FUND (An open ended debt scheme investing in government securities across maturity) Credit risk free returns over medium to long term Investment mainly in Government securities across maturities AXIS DYNAMIC BOND FUND (An open ended dynamic debt scheme investing across duration) Optimal returns over medium to long term To generate stable returns while maintaining liquidity through active management of a portfolio of debt and money market instruments AXIS CORPORATE DEBT FUND (An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds) Regular income over short to medium - term Predominantly investing in corporate debt AXIS STRATEGIC BOND FUND (An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 years to 4 years) Optimal returns over medium term Investment in diversified portfolio of debt and money market securities to generate optimal risk adjusted returns while maintaining liquidity AXIS ARBITRAGE FUND (An open ended scheme investing in arbitrage opportunities) Income over short to medium term Investment in arbitrage opportunities in the cash & derivatives segment of the equity market AXIS CREDIT RISK FUND (An open ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds) Stable returns in the short to medium term Investment in debt and money market instruments across the yield curve and credit spectrum AXIS SHORT TERM FUND (An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year to 3 years) Regular income while maintaining liquidity over short term Investment in debt and money market instruments AXIS BANKING & PSU DEBT FUND (An open ended debt scheme predominantly investing in debt instruments of Banks, Public Sector Undertakings & Public Financial Institutions) Regular income over short to medium term Investment in debt and money market instruments issued by banks, PFIs & PSUs AXIS TREASURY ADVANTAGE FUND (An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 to 12 months) Regular income over short term Investment in debt and money market instruments AXIS ULTRA SHORT TERM FUND (An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months) Regular income over short term Investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months. AXIS LIQUID FUND (An open ended liquid scheme) Regular income over short term Investment in debt and money market instruments * Investors should consult their financial advisers if in doubt about whether the product is suitable for them 41 Low Moderately Low Riskometer Moderate Moderately High LOW HIGH Investors understand that their principal will be at moderately high risk Low Moderately Low Riskometer Moderate Moderately High LOW HIGH Investors understand that their principal will be at moderate risk Low Moderately Low Riskometer Moderate Moderately High LOW HIGH Investors understand that their principal will be at moderately low risk Low Moderately Low Riskometer Moderate Moderately High LOW HIGH Investors understand that their principal will be at low risk High High High High

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