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Axis Mutual Fund in 2026: by the numbers

Axis MF managed ₹3,82,966 crore in July–September 2026, 8th of 55, up 9.0% in a year. 82 Direct Growth schemes, ranked on 3-year returns.

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A large house, growing slower than the industry

Axis managed an average of ₹3,82,966 crore in July–September 2026, excluding domestic fund-of-funds: 4.39% of the industry's ₹87,21,848 crore and 8th of 55 houses on AMFI's quarterly figures. Its fund house page carries the same number.

Quarter Average AUM (₹ crore) Rank Share of industry
July–September 2026 3,82,966 8 of 55 4.39%
April–June 2026 3,69,030 8 of 51 4.44%
July–September 2025 3,51,238 8 of 48 4.55%
July–September 2024 3,12,338 8 of 44 4.72%
July–September 2023 2,59,795 8 of 41 5.53%

Assets grew 9.0% in a year, against 13.1% for the industry, and 3.8% in the last quarter. It is losing share. A year ago it ranked 8th.

The shelf: 82 schemes

Axis has 82 schemes in Direct Growth: 26 index, 17 equity, 17 debt, 12 fund-of-funds, 6 hybrid, 4 other. By average assets in July–September 2026:

Scheme Average AUM (₹ crore)
Axis Liquid Fund 59,483
Axis Midcap Fund 34,576
Axis ELSS- Tax Saver Fund 32,144
Axis Large Cap Fund 31,015
Axis Small Cap Fund 30,705
Axis Money Market Fund 20,440

The three largest account for 35% of the assets we could match to a scheme.

How the equity and hybrid funds rank

Each fund is ranked against every Direct Growth fund in its AMFI category on three-year return, to 23 October 2026. Categories with fewer than eight funds with a three-year record are not ranked.

Fund Category 1 year 3 years 3-year rank in category
Axis Multicap Fund Multi Cap 1.65% 16.99% 1st of 23
Axis Value Fund Value 0.49% 16.18% 2nd of 21
Axis Innovation Fund Sectoral/ Thematic 6.09% 16.15% 38th of 142
Axis Midcap Fund Mid Cap −0.34% 14.39% 13th of 29
Axis Large & Mid Cap Fund Large & Mid Cap −1.75% 13.15% 6th of 26
Axis Small Cap Fund Small Cap 3.04% 12.74% 12th of 26
Axis Multi Asset Allocation Fund Multi Asset Allocation 0.58% 12.49% 10th of 15
Axis Flexi Cap Fund Flexi Cap −2.82% 11.89% 16th of 36
Axis Business Cycles Fund Sectoral/ Thematic −3.67% 11.47% 75th of 142
Axis Balanced Advantage Fund Dynamic Asset Allocation or Balanced Advantage −2.16% 10.62% 5th of 30
Axis ELSS- Tax Saver Fund ELSS −6.60% 8.99% 22nd of 37
Axis Equity Savings Fund Equity Savings 1.71% 8.73% 7th of 20
Axis Aggressive Hybrid Fund Aggressive Hybrid −3.93% 8.62% 21st of 28
Axis Focused Fund Focused −7.85% 8.13% 21st of 27

Of the 19 funds ranked, 4 sit in the top quarter of their category over three years and 5 in the bottom quarter. The best placed is Axis Multicap Fund (1st of 23 in Multi Cap, 16.99% a year); the lowest placed is Axis Conservative Hybrid Fund (15th of 17 in Conservative Hybrid, 6.15% a year).

What they cost

Fund Direct expense ratio Category median Difference
Axis Multicap Fund 0.93% 0.96% −0.03
Axis Value Fund 0.88% 1.24% −0.36
Axis Innovation Fund 1.36% 1.15% +0.21
Axis Midcap Fund 0.80% 0.95% −0.15
Axis Large & Mid Cap Fund 0.83% 1.08% −0.25
Axis Small Cap Fund 0.69% 0.92% −0.23
Axis Multi Asset Allocation Fund 1.20% 0.85% +0.35
Axis Flexi Cap Fund 0.85% 0.96% −0.11
Axis Business Cycles Fund 1.63% 1.15% +0.48
Axis Balanced Advantage Fund 1.00% 1.02% −0.02

8 of the 21 equity and hybrid funds with a published expense ratio (the table shows the first ten) charge more than their category's median in the Direct plan. Expense ratios come from the fund house's own disclosures and are already inside the returns.

Reading this

  • A fund house's size is not a quality mark. What matters to an investor is the fund they hold, against its own category.
  • Three-year ranks are a snapshot and move. A top-quarter rank today does not mean one next year.
  • Young funds lack a three-year record and are left out of the ranking, so the picture is of the older part of the shelf.
  • Returns are historical, computed from NAVs, and not a forecast. This is not a recommendation to buy or sell any fund.

For other houses, see the largest fund houses by AUM and the rank-change table.

Source: AMFI average AUM for July–September 2026; AMFI NAVs to 23 October 2026; fund houses' TER disclosures.

Frequently asked questions

How big is Axis Mutual Fund?

Axis managed an average of ₹3,82,966 crore in July–September 2026, excluding domestic fund-of-funds. That is 4.39% of the industry and 8th among 55 fund houses on AMFI's figures. Assets grew 9.0% in a year, against 13.1% for the industry.

Which Axis fund has the best 3-year record?

On Direct Growth returns to 23 October 2026, Axis Multicap Fund (1st of 23 in Multi Cap, 16.99% a year).

Are Axis's equity funds cheap?

8 of the 21 equity and hybrid funds with a published Direct expense ratio and a category of at least five funds charge more than their category's median.

This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are WealthTicker’s own calculations from public data — AMFI’s fund NAVs and disclosures, NSE’s index and FII/DII files, and the fund houses’ monthly portfolios (how we calculate). They are as of the dates stated and can be revised by their source.

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