Axis Midcap Fund was unstoppable till 2020. But in the last two-and-a-half years, it has underperformed its peers and the benchmark. Consequently, the fund's rating has taken a knock, going from four stars to three. That said, the fund's margin of underperformance has reduced since then. It seems to be on the mend this year, falling less than its peers in the first quarter of 2023 and matching an average peer in the second quarter. Reasons for performance Since 2021, Axis funds have been in a spo
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