Equity Market Update
- We remain bullish on equities from a medium to long term perspective.
Largecap indices were down in the month of June. Nifty Index was down 1 percent during the month while midcaps were marginally positive as indicated by the BSE Midcap Index return of 0.13 percent.
Businesses across the country geared up for GST kick-off from July 1st, 2017. GST replaces more than 10 existing different types of taxes with one tax. This should help improve ease of doing business. Tax disparity across different states is also expected to get removed. Earlier different states could levy different rate of taxation on a product. While the process gets simplified, initial issues with the implementation will remain in the near term.
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DISCLAIMERS and RISK FACTORS
Data as on 30th June 2017. Source of data: Bloomberg, ACEMF
Disclaimer: Past performance may or may not be sustained in the future. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of disclosure of the portfolio of the Scheme(s) and should not be construed as recommendation. The fund manager(s) may or may not choose to hold the stock mentioned, from time to time. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s).
Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd. (liability restricted to Rs. 1 Lakh). Trustee: Axis Mutual Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC) Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of the scheme. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.