DSIJ MF Ranking

When we refer websites and compare the current performance of Mutual Funds (MFs), Axis MF seems to be doing well across multiple categories of MFs. However, in the MF ranking based on expected returns, we do not see Axis MF in the list at all. I understand that we are doing performance comparison based on the past performance and DSIJ ranking is based on the expected future returns. Even if Axis does not feature in the top few, we are yet surprised to find that it has not been included in the list at all! Can you list out any reason as to why Axis MF was not included in your ranking?

- Vidya Ramesh

Editor Responds

We appreciate your observation! Our ranking doesn't assume cash while calculating future expected returns. And most of the axis equity funds are holding cash and so, in falling markets, they have performed well. Following are the portion of the assets invested in cash at the end of December 2019. Axis small-cap fund – 17.45 per cent, Axis blue chip fund – 15.86 per cent, Axis mid-cap fund – 15.62 per cent, Axis multi-cap fund – 15.58 per cent. This is the reason as to why Axis does not appear in our ranking.