Axis Business Cycles Fund Direct-Growth
Unrated
NAV as of Feb 06, 2026
17.14-0.17%
- Growth - Direct
(Earn upto 1.14% Extra Returns with Direct Plan)
Fund Category:
Equity: Thematic-Business Cycle
Expense Ratio:
0.92%(0.84% Category
average)Fund Size:
Rs. 2,212.89 Cr(5.18% of Investment in Category)
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Axis Business Cycles Fund Direct-Growth
Unrated
NAV as of Feb 06, 2026
17.14-0.17%
Expense Ratio:
0.92%
Fund Size:
Rs. 2,212.89 Cr
Fund Category:
Equity: Thematic-Business Cycle
Axis Business Cycles Fund Direct-Growth Fund Key Highlights
1. Current NAV: The Current Net Asset Value of the Axis Business Cycles Fund - Direct Plan as of Feb 06, 2026 is Rs 17.14 for Growth option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 4.91% (1yr) and 20.46% (since launch). Whereas, Category returns for the same time duration are: 2.24% (1yr), 16.91% (3yr) and 18.5% (5yr).
3. Fund Size: The Axis Business Cycles Fund - Direct Plan currently holds Assets under Management worth of Rs 2212.89 crore as on Dec 31, 2025.
4. Expense ratio: The expense ratio of the fund is 0.87% for Direct plan as on Jan 08, 2026.
5. Exit Load: Axis Business Cycles Fund - Direct Plan shall attract an Exit Load, "Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months."
6. Minimum Investment: Minimum investment required is Rs 100 and minimum additional investment is Rs 100. Minimum SIP investment is Rs 100.
1. Current NAV: The Current Net Asset Value of the Axis Business Cycles Fund - Direct Plan as of Feb 06, 2026 is Rs 17.14 for Growth option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 4.91% (1yr) and 20.46% (since launch). Whereas, Category returns for the same time duration are: 2.24% (1yr), 16.91% (3yr) and 18.5% (5yr).
3. Fund Size: The Axis Business Cycles Fund - Direct Plan currently holds Assets under Management worth of Rs 2212.89 crore as on Dec 31, 2025.
4. Expense ratio: The expense ratio of the fund is 0.87% for Direct plan as on Jan 08, 2026.
5. Exit Load: Axis Business Cycles Fund - Direct Plan shall attract an Exit Load, "Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months."
6. Minimum Investment: Minimum investment required is Rs 100 and minimum additional investment is Rs 100. Minimum SIP investment is Rs 100.
Axis Business Cycles Fund Direct-Growth Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns -2.34 -0.17 1.54 8.28 - - Category Avg -3.02 -1.98 0.94 5.34 17.40 18.41 Rank within Category 7 7 9 6 - - No. of funds within Category 18 18 18 17 7 2 - Loading...
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Return Comparison
- This Fund
- BenchmarkNIFTY 500 Total Return Index
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Axis Business Cycles Fund Direct-Growth Fund Details
Investment Objective - The scheme seeks to provide long term capital appreciation by investing predominantly in equity and equity related securities with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.
| Fund House | Axis Mutual Fund |
| Launch Date | Feb 22, 2023 |
| Benchmark | NIFTY 500 Total Return Index |
| Return Since Launch | 19.97% |
| Riskometer | Very High |
| Type | Open-ended |
| Risk Grade | - |
| Return Grade | - |
Axis Business Cycles Fund Direct-Growth Investment Details
| Minimum Investment (Rs.) | 100.00 |
| Minimum Additional Investment (Rs.) | 100.00 |
| Minimum SIP Investment (Rs.) | 100.00 |
| Minimum Withdrawal (Rs.) | - |
| Exit Load Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months. | |
Portfolio Allocation
Asset Allocation
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Asset Allocation History
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EquityDebtCash
Sector Allocation
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Market Cap Allocation
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Concentration & Valuation Analysis
| DEC 2025 | NOV 2025 | OCT 2025 | SEP 2025 | AUG 2025 | JUL 2025 | |
|---|---|---|---|---|---|---|
| Number of Holdings | 90 | 92 | 87 | 85 | 86 | 87 |
| Top 5 Company Holdings | 20.65% | 20.97% | 20.84% | 21.6% | 21.54% | 22.06% |
| Top 10 Company Holdings | 33.21% | 32.95% | 32.74% | 33.76% | 32.53% | 33.38% |
| Company with Highest Exposure | ICICI Bank (6.56%) | ICICI Bank (6.25%) | ICICI Bank (6.16%) | ICICI Bank (6.29%) | ICICI Bank (6.47%) | ICICI Bank (6.68%) |
| Number of Sectors | 16 | 16 | 16 | 16 | 17 | 17 |
| Top 3 Sector Holdings | 45.7% | 44.67% | 41.06% | 41.34% | 41.0% | 40.68% |
| Top 5 Sector Holdings | 60.51% | 61.52% | 58.18% | 59.41% | 58.87% | 55.61% |
| Sector with Highest Exposure | Financial (26.39%) | Financial (23.0%) | Financial (20.6%) | Financial (20.28%) | Financial (20.18%) | Financial (21.72%) |
Top Stock Holdings
Sector Holdings in MF
Company Sector Assest(%) P/E EPS-TTM(₹) RETURN 1 YR(%) ICICI Bank Financial 6.56 18.99 74.06 11.91 HDFC Bank Financial 4.03 19.43 48.43 8.67 Infosys Technology 3.5 21.84 68.99 -20.80 Larsen & Toubro Construction 3.38 34.42 118.17 21.91 Ultratech Cement Materials 3.18 49.03 259.86 9.23 Bharti Airtel Communication 2.65 40.88 49.87 21.57 Kotak Mahindra Bank Financial 2.61 4.47 94.50 9.46 State Bank of India Financial 2.58 11.82 90.20 44.68 Shriram Finance Financial 2.48 20.60 48.62 79.22 Mahindra & Mahindra Automobile 2.24 31.28 114.45 11.88
Peer Comparison
Cumulative Returns
SIP returns
Discrete Returns
Quant Measures
Asset Allocation
Scheme Name NAV(Rs./Unit) Scheme Rating AUM(Rs. Cr) 1M 1Y 3Y 5Y Axis Business Cycles Fund Direct-Growth 17.14 Unrated 2,212.89 -2.34 8.28 - - DSP Business Cycle Fund Direct - Growth 10.46 Unrated 1,175.58 -1.49 10.72 - - HSBC Business Cycles Fund Direct-Growth 45.39 Unrated 1,137.31 -2.46 5.65 21.26 18.52 Invesco India Business Cycle Fund Direct-Growth 12.56 Unrated 946.77 -2.64 - - - ICICI Prudential Business Cycle Fund Direct - Growth 27.18 Unrated 15,958.05 -1.66 17.16 23.93 21.00
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Risk Ratio data not available for this fund
Axis Mutual Fund News
- Why owning sector leaders could be a smarter core bet in 2026, Axis Mutual Fund’s Karthik Kumar explains
- NFO Alert: Axis Mutual Fund launches BSE India Sector Leaders Index Fund
- 7 mutual funds had over Rs 10,000 crore cash in their portfolio in December
- Earnings outlook stabilising despite volatility; autos, financials, telecom in focus: Axis MF’s Karthik Kumar
Fund Manager
- A.N.Ashish NaikSince Feb 20233 schemes
Mr. Naik is a B.E from Mumbai University and MBA from XLRI, Jamshedpur. Prior to joining Axis Mutual Fund he was associated with organizations such as Goldman Sachs and has over 7 years of experience as an Equity Analyst.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Axis ELSS Tax Saver Direct Plan-Growth ELSS 109.18 34,262.95 6.35 Axis Multi Asset Allocation Direct Plan -Growth Multi Asset Allocation 52.58 1,875.27 20.28 Axis Innovation Fund Direct-Growth Thematic-Innovation 19.56 Unrated 1,196.33 4.04
More Axis Mutual Fund
| Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
|---|---|---|---|---|---|---|---|
| Axis Liquid Direct Fund-Growth | 37,357.87 | 0.52 | 1.49 | 2.97 | 6.65 | 7.08 | |
| Axis ELSS Tax Saver Direct Plan-Growth | 35,083.65 | -0.97 | 2.53 | -0.03 | 5.08 | 15.26 | |
| Axis Large Cap Fund Direct-Growth | 34,071.52 | -0.39 | 3.73 | 1.31 | 7.16 | 13.49 | |
| Axis Midcap Direct Plan-Growth | 32,201.80 | -1.35 | 1.25 | -0.82 | 2.13 | 20.67 | |
| Axis Small Cap Fund Direct-Growth | 26,769.08 | -1.14 | 0.16 | -3.06 | -1.48 | 19.28 | |
| Axis Money Market Fund Direct-Growth | 24,193.73 | 0.50 | 1.52 | 3.08 | 7.60 | 7.67 | |
| Axis Large & Mid Cap Fund Direct-Growth | 15,604.95 | -0.54 | 2.98 | 1.90 | 5.09 | 20.99 | |
| Axis Banking & PSU Debt Direct Plan-Growth | 13,711.73 | 0.20 | 1.41 | 2.65 | 7.86 | 7.50 | |
| Axis Flexi Cap Fund Direct-Growth | 13,275.82 | -1.70 | 0.58 | -1.40 | 2.25 | 15.46 | |
| Axis Short Duration Fund Direct-Growth | 12,691.89 | 0.30 | 1.54 | 3.00 | 8.66 | 8.20 |
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About Axis Business Cycles Fund Direct-Growth
1. Axis Business Cycles Fund - Direct Plan is Open-ended Thematic-Business Cycle Equity scheme which belongs to Axis Mutual Fund House.
2. The fund was launched on Feb 22, 2023.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to provide long term capital appreciation by investing predominantly in equity and equity related securities with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. "
2. It is benchmarked against NIFTY 500 Total Return Index.
Asset Allocation & Portfolio Composition
1. The asset allocation of the fund comprises around 97.83% in equities, 2.46% in debts and -0.3% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 33.21% of the assets, the top 3 sectors constitute around 45.7% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations - around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
Tax Implications on Axis Business Cycles Fund Direct-Growth
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax - STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of upto Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax - LTCG).
4. For Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
5. Also, for dividend income in excess of Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
1. Axis Business Cycles Fund - Direct Plan is Open-ended Thematic-Business Cycle Equity scheme which belongs to Axis Mutual Fund House.
2. The fund was launched on Feb 22, 2023.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to provide long term capital appreciation by investing predominantly in equity and equity related securities with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. "
2. It is benchmarked against NIFTY 500 Total Return Index.
Asset Allocation & Portfolio Composition
1. The asset allocation of the fund comprises around 97.83% in equities, 2.46% in debts and -0.3% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 33.21% of the assets, the top 3 sectors constitute around 45.7% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations - around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
Tax Implications on Axis Business Cycles Fund Direct-Growth
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax - STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of upto Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax - LTCG).
4. For Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
5. Also, for dividend income in excess of Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
This Might Catch Your Interest
FAQs about Axis Business Cycles Fund Direct-Growth
- Is it safe to invest in Axis Business Cycles Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Axis Business Cycles Fund - Direct Plan comes under Very High risk category.
- What is the category of Axis Business Cycles Fund - Direct Plan?Axis Business Cycles Fund - Direct Plan belongs to the Equity : Thematic-Business Cycle category of funds.
- How Long should I Invest in Axis Business Cycles Fund - Direct Plan?The suggested investment horizon of investing into Axis Business Cycles Fund - Direct Plan is null. The suggested investment horizon is the minimum time required for holding investments in the fund to reduce its downside risk and ensure that the returns become more predictable.
- Who manages the Axis Business Cycles Fund - Direct Plan?The Axis Business Cycles Fund - Direct Plan is managed by Ashish Naik (Since Feb 02, 2023).
Date Sources: Mutual Funds, ETFs, and NPS data are sourced from Value Research. All times stamps are reflecting IST (Indian Standard Time). By using this site, you agree to the Terms of Service and Privacy Policy.
