Ever since things started going south for the 'growth' theme, Axis funds have been in a tight spot. Axis Long Term Equity Fund has been no exception. However, the first half of this year has been a silver lining. The fund has beaten the benchmark and category median by a margin of 3 per cent and 1 per cent, respectively. In fact, in the three months ending June, the fund secured the 2nd rank among the 38 peers! Reasons for performance Among the scattered and broad-based performance drivers, the Financial sector has been the major contributor. Not only is the fund overweight in this sector, but the past few months were also good for its top holdings, like Bajaj Finance, Cholamandalam Investment &
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