Axis Max Life Flexicap Pension Fund

Axis Max Life Flexicap Pension Fund (SFIN: ULIF05224/09/26FLXICAPFND104) is an actively managed ULIP pension fund. The primary objective of this equity fund is to seek long-term capital appreciation through investments in equity and equity-related securities of companies across various market capitalisations. The fund will invest in stocks listed on the NSE and BSE with the flexibility of investing in large-cap, mid-cap and small-cap stocks. This enables the portfolio to avail of the opportunities available across various market capitalisations of the Indian equity market.

Unlike a strategy that limits the fund to invest in a specific market-cap segment, the Axis Max Life Flexicap Pension Fund has the flexibility to dynamically rebalance its portfolio across various market capitalisations. The choice of investments would be based on the valuations, earnings outlook, business fundamentals, and prevailing market opportunities.

This pension fund’s strategic allocation range allows 0–100% exposure to either large-cap, mid-cap and small-cap stocks. The actual allocation can vary as the fund manager responds to changing market conditions and other growth opportunities that are identified.

The fund will use the Nifty 500 as its benchmark, while the portfolio will be actively managed and may differ from the benchmark's market-cap, sector and stock weights. The Axis Max Life Flexicap Pension Fund portfolio will mandatorily invest 80% in equity and equity-related instruments. The remainder of the portfolio accounting for up to 20% of the fund’s investable assets may be invested in corporate bonds, government securities and money market instruments or equivalent.

The Axis Max Life Flexicap Pension Fund is a newly launched pension fund and, therefore, does not have an existing performance track record. The Nifty 500 Total Return Index serves as a surrogate to gauge the past performance of the broad-based equity market index represented by the fund's benchmark. This serves as a benchmark for investors and helps to separate the actual fund performance from the performance of the index.

As of 31 August, 2026 the returns of the Nifty 500 Index over various time periods is as shown below:

Note: The above returns are for the Total Returns Index (TRI) variant of the Nifty 500 Index as of 31 August 2026. 1 year returns are absolute returns, while 5 year and returns since inception are annualised returns. Past returns do not guarantee future performance.

These index returns shown above are not the historical returns of the Axis Max Life Flexicap Pension Fund. They are only offered as a general guide to the historical performance of the wider equity market against which the proposed fund would be benchmarked. The fund's actual performance may differ because it will follow an active investment strategy, with portfolio allocation, stock selection and sector positioning being actively managed by the fund manager.

The Axis Max Life fund management team will follow an active management approach to build the Flexicap Pension Fund portfolio. The fund aims to provide diversified equity exposure by investing across large-cap, mid-cap and small-cap companies listed on the NSE and BSE. Here is an overview of the key aspects of the investment selection process:

• Considering all stocks in an investment universe covering companies across large-cap, mid-cap and small-cap segments, with the flexibility to invest across sectors and market capitalisations.
• Identifying investment opportunities based on long-term business fundamentals, growth prospects, valuation considerations and prevailing market conditions.
• Dynamic allocations are made across market-cap segments including large, medium and small cap stocks with the actual extent of exposure varying based on various factors such as market opportunities and valuations.
• Diversification of the fund portfolio across market-caps, sectors, business models while ensuring compliance with relevant IRDAI mandated limits and internal exposure limits.
• Ongoing monitoring and review of portfolio positions will also be performed allowing the fund manager to adjust allocations and select stocks as market conditions, valuations and investment opportunities change.

This active investment process gives the Axis Max Life Flexicap Pension Fund the ability to manage performance through various market cycles while also ensuring diversified exposure across various segments of the Indian equity market.

The Axis Max Life Flexicap Pension Fund is , with the flexibility to invest across sectors. Since the fund is newly launched, the sector composition of its benchmark, the Nifty 500 Index can be used as a surrogate to provide an indication of the sectoral exposure that the new pension fund is expected to maintain.

Below are the top 5 sectors and their individual weight on the Nifty 500 Index as of 31 August, 2026:

As you can see, the Nifty 500 Index is a broad-based index that provides exposure to a wide spectrum of industries and sectors of the Indian equity market. The proposed fund will not be required to replicate the benchmark's sector allocation.

As a result, the fund manager would have the flexibility to adopt different sector positioning based on valuations, earnings outlook, business fundamentals and prevailing market opportunities. This active fund management approach is expected to allow the fund’s portfolio to provide optimal long-term growth by adapting its sector exposure as market conditions evolve.

Being a new fund, the Axis Max Life Flexicap Pension Fund currently does not have a clearly defined investment portfolio and also has the flexibility to select stocks from both the NSE and BSE. However, the NSE 500 Index will serve as this fund’s benchmark. Therefore, the largest constituents of the Nifty 500 can provide investors with an indication of the type of companies that might be included in the fund’s portfolio.

As of 31 August, 2026 below are the top 5 constituents and their individual weight in the Nifty 500 Index:

The benchmark includes established companies from different sectors, providing a broad representation of the Indian equity investment universe. These constituents offer a reference point for understanding the types of stocks that might be represented within the fund’s portfolio.

However, the proposed portfolio of this flexi-cap fund may differ from the Nifty 500 due to active stock picking by the company. The fund manager will select stocks by considering business fundamentals, growth prospects, valuation considerations and prevailing market opportunities. Portfolio positions will also be reviewed on an ongoing basis to respond to changing market conditions. However, the limited exposure of this pension fund to any specific stock can help minimise the influence of any specific stock on the overall performance of the fund.

Fund Name: AMLI Flexi Cap Pension Fund

SFIN: ULIF05224/09/26FLXICAPFND104

Risk Level: Very High

Fund Objective: To achieve long-term capital appreciation by investing in equity and equity-related securities of companies with different market capitalisation, including the ability to allocate across large-cap, mid-cap and small-cap stocks.

Benchmark: Nifty 500

Fund Type: Active

Category: Flexi Cap

Fund Management Charge (FMC): 1.35% p.a.

Fund's official launch date: 1st October 2026

Asset Mix:

During the NFO period, the Axis Max Life Flexicap Pension Fund will be available through the Axis Max Life Forever Young Pension Plan (UIN: 104L075V11). After completion of the NFO period, this pension fund may be available through other online and offline Axis Max Life pension plans.

The Axis Max Life Flexicap Pension Fund can be considered by investors who are looking for long-term capital appreciation through a basket of equities that is diversified across various market capitalisations. The fund follows an active investment approach, allowing the fund manager to allocate across large-cap, mid-cap and small-cap companies based on valuations, long-term business fundamentals, growth prospects and prevailing market opportunities.

Its flexible market-cap mandate allows portfolio positioning across changing market cycles rather than remaining restricted to one specific market capitalisation. Additionally, due to its high equity exposure and “Very High” risk rating, this fund may be considered suitable for investors who have risk appetite and are seeking to achieve a long-term retirement investment savings goal.

Some of the leading ULIP pension plans currently available through Axis Max Life ULIPs are: