Axis Mutual Fund has announced a revision in the benchmark of its Axis Floating Interest Rates Fund. According to reports from Axis Mutual Fund, the benchmark has been revised from 'NIFTY Medium to Long Duration Debt Index A-III' to 'NIFTY Medium Duration Debt Index A-III'. This change represents a significant modification to the fund's performance measurement framework.
The benchmark revision has been implemented effective from October 5, 2026. As reported by Axis Mutual Fund, this change takes effect immediately and will govern the fund's performance measurement going forward. The revision affects how the fund's returns are compared against its benchmark index.
According to the latest fund data, Axis Floating Interest Rates Fund - Direct Plan has an asset size of ₹148.61 crore and is currently trading at ₹1,426.01. The fund has delivered 1-month returns of 0.50%, 3-month returns of 1.61%, and 6-month returns of 6.58%. The fund's Average Maturity stands at 7.73 years with a Duration of 3.95 years, indicating moderate sensitivity to interest rate changes. The fund is managed by Aditya Pagaria since July 12, 2021 and Hardik Shah since January 31, 2022.
The benchmark revision represents a narrowing of the duration range for the fund's benchmark index. According to the announcement, the change from 'Medium to Long Duration Debt Index' to 'Medium Duration Debt Index' indicates a more focused approach to measuring the fund's performance. As per SEBI's latest guidelines, the fund comes under the Moderately High risk category and is suitable for investors with a suggested investment horizon of less than 1 year. The fund's investment objective focuses on generating regular income through floating rate instruments and fixed rate instruments swapped for floating rate returns.
