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1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteAxis Mutual Fund changed the benchmark for Axis Floating Interest Rates Fund effective July 1, 2025, to the NIFTY Medium to Long Duration Debt Index A-III. Axis’s August 2026 factsheet still lists that index as the scheme’s benchmark. The official materials cited below do not identify the previous benchmark or give a specific reason for the change.
What changed, and when?
Axis Mutual Fund’s December 2025 factsheet says the fund’s benchmark changed with effect from July 1, 2025, to the NIFTY Medium to Long Duration Debt Index A-III. Axis’s August 2026 factsheet continues to show that index as the benchmark.
The scheme’s Key Information Memorandum says scheme performance is benchmarked to the benchmark index’s Total Return Variant (TRI). Axis’s December 2025 factsheet provides the change disclosure: Axis Mutual Fund, December 2025 factsheet.
What the change means when you compare performance
A benchmark is a reference for contextualizing a scheme’s performance. It is not the fund’s return and does not guarantee an outcome. If a performance period crosses July 1, 2025, note that the benchmark reference changed during that period; do not treat the comparison as though it used one unchanged benchmark throughout.
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For a careful before-and-after comparison, use the same plan and option, state the measurement dates, and report the fund and benchmark values separately. Identify the applicable benchmark on each side of July 1, 2025, and use the return convention stated by the source. Label any additional benchmark separately. A benchmark change alone does not show that the change caused a difference in returns.
What Axis’s disclosures do not establish
- The materials cited here do not name the benchmark used immediately before July 1, 2025.
- They do not state Axis’s specific reason for selecting the new benchmark.
- AMFI lists the NIFTY Medium to Long Duration Debt Index A-III for the medium-to-long-duration debt category. Its benchmark list also describes benchmark bands for floating-rate funds by maturity profile. This is category context, not evidence of Axis’s rationale for choosing this particular index. See AMFI’s benchmark list.
Fund context and dated risk indicators
Axis describes the scheme as an open-ended debt scheme that predominantly invests in floating-rate instruments. It may also use fixed-rate instruments converted to floating-rate exposures through swaps or derivatives, and may invest in fixed-rate debt and money-market instruments. Its stated objective is to generate regular income, but the scheme document says there is no assurance the objective will be achieved.
Axis’s August 2026 factsheet reports these portfolio figures as of August 31, 2026:
| Measure | Reported value | What it describes |
|---|---|---|
| Residual maturity | 7.73 years | Axis portfolio figure as of August 31, 2026 |
| Modified duration | 3.95 years | Axis portfolio figure as of August 31, 2026 |
| Macaulay duration | 4.14 years | Axis portfolio figure as of August 31, 2026 |
| Annualised portfolio yield to maturity | 7.59% | Axis portfolio figure as of August 31, 2026; not a forecast or an indication of returns that may be generated |
These are dated portfolio measures, not current figures by default. Axis cautions that the yield to maturity is based on the portfolio on the stated date; it assumes neither that securities will be held to maturity nor that the yield will be realized. The factsheet also cautions that past performance may not be sustained. See the August 2026 factsheet.
Axis’s fund page describes scheme risk as moderately high and its potential-risk-class description identifies relatively high interest-rate risk and moderate credit risk. The benchmark label does not remove those risks. Investors uncertain about suitability are advised by Axis to consult a financial adviser. See the Axis fund page.
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