Let's face the biggest issue with Axis Bluechip Fund: its consistent underperformance for nearly three consecutive years. Ever since the 'growth' style of investing took a backseat post-COVID, the fund has struggled to regain its footing. Nevertheless, it remains committed to AMC's high-quality, high-growth investing style. So, while recent returns have disappointed, the fund's resilience to its character during tough times is noteworthy. The consecutive lean performance of the fund for almost three years has impacted its five-year returns. But we believe recovery is imminent as recent months show signs of improvement. The performance gap with the benchmark has significantly narrowed from over 10 per cent last year to a mere 0.4 per cent in the last three months. Furthermore, compared to the average peer return, the gap has decreased from 8 per cent to 2 per cent. This validates our confidence in the fund's potential rebound. Reasons for underperformance The fund's holdings in the Financial sector - HDFC Bank and Bajaj Finance - have majorly contributed to its underperformance. Reliance Industries, Asian Paints, Pidilite Industries, HUL, and Avenue Supermarts are the other major stocks that have pulled down the returns. When looking at these names, it is evident that there is no question about the fun
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