Axis Max Life Flexicap Fund

The Axis Max Life Flexicap Fund is an actively managed flexi-cap fund that aims to provide long-term capital appreciation of its portfolio by investing in equity and equity-related securities across various market caps. Apart from not being restricted to investing in one specific market capitalisation segment, this fund will also ensure diversification across multiple sectors and industries.

The fund will invest in companies listed on the NSE and BSE and use the Nifty 500 Index as its benchmark. Its strategic allocation range allows up to 100% exposure to either large-cap, mid-cap and small-cap stocks. The actual allocation is subject to various factors such as prevailing market opportunities, applicable IRDAI Guidelines, valuations and fund manager's conviction.

The Axis Max Life Flexicap Fund is a new fund, so it does not have a proven track record of past performance. The benchmark Nifty 500 Index can serve as an indicator of potential performance of the fund.

The historical returns of the Nifty 500 Index (TRI) over various time periods as of 31 August, 2026 is shown below:

Note: Above returns are for Total Returns Index (TRI) variant of the Nifty 500 Index. 3 year, 5 year and 10 year returns data are annualised returns. Past returns do not guarantee future performance.

The Nifty 500 returns are not indicative of the future performance of the Axis Max Life Flexicap Fund. They should be only be considered as a reference for the broader market, as the proposed fund will be actively managed and may vary its allocation across various market capitalisations based on market opportunities, valuations and the fund manager’s conviction.

The Axis Max Life Flexicap Fund will follow an active fund management approach and invest in companies listed on the NSE and BSE across the large-cap, mid-cap and small-cap segments. Apart from investing across market caps, the fund will also feature diversification across various sectors and industries featured in India’s domestic equity market.

The fund management team is expected to perform its stock selection through these key stages:

• Defining the investment universe: The fund may invest in large-cap, mid-cap, and small-cap companies listed in either the NSE or BSE in a sector or industry agnostic manner. Subject to applicable IRDAI regulations and in line with the fund’s investment objectives.
• Portfolio construction: Stocks will be selected based on long-term business fundamentals, growth prospects, valuation considerations and prevailing market opportunities.
• Diversification and risk management: The portfolio will be diversified across various market-caps, sectors and business models. However, actual market cap and sectoral allocations in the fund portfolio may vary from one period to the next based on market conditions, valuations and emerging investment opportunities.

As per mandate, this flexicap fund can have a 0%-100% strategic allocation range in any market-cap segment. Unlike the Nifty 500 Index’s market-cap-weighted approach, this actively managed fund can opt for different market-cap allocation, sector weights and stock selection based on the fund’s manager’s convictions.

The Axis Max Life Flexicap Fund will invest across sectors and market capitalisations, with allocations determined through an active investment process. Since the Nifty 500 Index will serve as the fund's benchmark, the sectoral composition of the Index can provide a reference point for understanding the broader investment universe available to the fund.

As of 31 August 2026, the top five sectors by weight on the Nifty 500 Index were:

The proposed fund does not have to exactly follow the same sector weights as the Nifty 500 Index. So, the Fund Manager may decide to be overweight or underweight on any specific sector subject to IRDAI prescribed limits, stock valuations, business fundamentals, earnings outlook, the fund manager’s conviction, etc.

The Axis Max Life Flexicap Fund will be benchmarked against the Nifty 500 Index, but will take an active stock picking approach. Therefore, the leading stocks featured on the Index can provide an indication of the companies within the broader investment universe, rather than representing confirmed holdings of the proposed fund.

As of 31 August 2026, the top five constituents of the Nifty 500 Index, by weight were:

As you can see, these stocks belong to a wide range of sectors and the exposure of the fund to any individual stock is limited. The Axis Max Life Flexicap Fund is expected to follow a similar pattern when choosing its investments. The proposed fund may actively deviate from these benchmark weights and select stocks based on factors ranging from valuation attractiveness and business fundamentals to long-term growth prospects and prevailing market opportunities.

During the NFO period from October 1 to 18, 2026, the Axis Max Life Flexicap Fund will be offered to existing and new policyholders through select Axis Max Life ULIP offerings including the following:

• Axis Max Life Flexi Wealth Advantage Plan (UIN: 104L121V05)
• Axis Max Life Online Savings Plan (UIN: 104L098V06)
• Axis Max Life Online Savings Plan Plus (UIN: 104L131V03)
• Axis Max Life Smart Term with Additional Returns (STAR) ULIP (UIN: 104L128V01)

Post completion of the NFO period, the fund may be offered through other Axis Max Life ULIP offerings.

The Axis Max Life Flexicap Fund could be a good choice for investors who are looking for long-term wealth creation through a diversified equity portfolio consisting of large, mid and small-capitalisation stocks.

This may also suit investors who prefer a flexible approach to portfolio creation rather than remaining invested in a fixed market-cap segment throughout different market cycles. As per mandate, the strategic range of this fund can give potential investors up to 100% exposure to any specific market capitalisation.

Investors seeking to diversify the existing equity investment portfolio by implementing a flexicap investment approach may also consider opting for this ULIP fund.

Axis Max Life Insurance currently offers a number of actively managed equity ULIP funds to its policyholders. Some of these are: