Monday, September 26, 2022
HomeMutual FundAxis Nifty 100 Index Fund Efficiency Report

Axis Nifty 100 Index Fund Efficiency Report


Axis Nifty 100 Index Fund is an open-ended index that goals to attain a return near Nifty 100 topic to monitoring error.  The Fund was launched in Oct 2019 and at present has an AUM of about 760 Crores.

When the fund launched, we reviewed the underlying index intimately and talked about that we would have liked a while to test its monitoring error to supply a advice.

We then wrote one other article in Dec 2019 – Axis Nifty 100 Index Fund Spectacular AUM however is it costly? Since then, index funds grew to become significantly fashionable, and the Nifty/Sensex funds we thought of cheaper than the Axis fund grew in AUM and have become dearer!

Earlier than we contemplate this, it is crucial for the reader to understand that Nifty 100 doesn’t imply 50 extra shares than Nifty 50. As a result of the weightage is set utilizing free-float market capitalization, the highest 10 shares of each indices comprise essentially the most weight. For instance, see: Do index fund returns rely on just some shares (Focus danger)?

Subsequently Nifty 100 solely presents marginally greater returns than Nifty 50 now and again (not at all times). Please check with our two earlier articles on Axis Nifty 100 fund linked above.

At present Axis Nifty 100 is the ninth hottest index fund by way of AUM.

Scheme TitleAUM(Cr)
UTI Nifty 50 Index Fund7068.0982
HDFC Index Fund-NIFTY 50 Plan5940.6023
HDFC Index Fund-S&P BSE Sensex3390.3857
ICICI Pru Nifty 50 Index Fund3065.5284
SBI Nifty Index Fund-Reg2416.9344
ICICI Pru Nifty Subsequent 50 Index Fund2042.7387
UTI Nifty Subsequent 50 Index Fund-Reg1627.0341
UTI Nifty200 Momentum 30 Index Fund1474.9560
Axis Nifty 100 Index Fund760.1773

At present Axis Nifty 100 Index fund is the least costly among the many prime 9.

Month FinishExpense Ratio(%)
Axis Nifty 100 Index Fund(G)-Direct Plan0.1500
ICICI Pru Nifty 50 Index Fund(G)-Direct Plan0.1800
SBI Nifty Index Fund(G)-Direct Plan0.1800
HDFC Index Fund-NIFTY 50 Plan(G)-Direct Plan0.2000
HDFC Index Fund-S&P BSE Sensex(G)-Direct Plan0.2000
UTI Nifty 50 Index Fund Direct Plan0.2100
ICICI Pru Nifty Subsequent 50 Index Fund(G)-Direct Plan0.3000
UTI Nifty Subsequent 50 Index Fund(G)-Direct Plan0.3300
UTI Nifty200 Momentum 30 Index Fund(G)-Direct Plan0.4200

Nonetheless, in Dec 2019, these three funds had been cheaper (than Axis N100).

  • ICICI Pru Nifty 50 Index Fund(G)-Direct Plan
  • HDFC Index Fund-S&P BSE Sensex(G)-Direct Plan
  • UTI Nifty 50 Index Fund Direct Plan

That is how AMCs function. They hold the TER low to entice subscriptions after which jack it up. The Axis fund has maintained its TER at 0.15% since inception (other than the primary few months when it was 0.16%). That is once more a ploy to ask AUM. Buyers shouldn’t be misled by this. If the Nifty 100 fund swells tomorrow, Axis too will be anticipated to jack up the TER.

Axis Nifty 100 Index Fund Efficiency

There are two methods by which an index fund will be evaluated: (1) how a lot its return differs from that of the whole returns index and (2) how low is the monitoring error. We publish each metrics for 40+ index funds every month. The next information is taken from the newest version: Index fund monitoring error screener July 2022.

Qty1 12 months return2 Years return
NIFTY 100 – TRI4.053224.4209
Axis Nifty 100 Index Fund(G)-Direct Plan3.883123.9278
Distinction-0.1701-0.4931

That’s pretty first rate. The Axis fund has the fifth smallest distinction over the past 1Y (as of July tenth 2022) and the twelfth smallest distinction over the past 2Y (as of July tenth 2022), which isn’t too shabby.

Monitoring error:

  • Final 1Y: 0.053% – seventeenth out of 43 funds. The highest 14 comprise Nifty and Sensex funds, that are simpler to trace than the Nifty 100. The fifteenth and sixteenth funds are Nifty Subsequent 50 funds from UTI and SBI. The highest has a monitoring error of 0.0429% (check with our screener for extra particulars)
  • Final 2Y: 0.0729% – twenty first out of 41 funds. The topper has a monitoring error of 0.0486%

This isn’t spectacular but additionally not disastrous.

The Axis Nifty 100 Index Fund has been an above-average performer over the past 12 months and a median performer over the past 2Y. Not less than till its AUM swells up some extra, the fund home is prone to retain the identical TER.

Buyers who need a predominantly massive cap portfolio (like Nifty or Sensex) with a touch of mid caps (on this context as much as about 25% of Nifty Subsequent 50) in a single fund can contemplate the Axis Nifty 100 Index fund. For a proof, see: Mix Nifty; Nifty Subsequent 50 funds to create massive, mid cap index portfolios.

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