Axis Max Life BSE 500 Value 50 Index Fund II

Axis Max Life BSE 500 Value 50 Index Fund II (SFIN: ULIF04807/07/26BSENHVALUE104) is an equity-oriented, passively managed index fund. The objective of the fund is to track the performance of the BSE 500 Enhanced Value 50 Index, within the margins of tracking error and applicable regulations.

The fund and its underlying index employs a value-investing approach that selects 50 stocks from the BSE 500 Index universe based on three key financial ratios: Book-to-Price, Earnings-to-Price, and Sales-to-Price ratios. These ratios can be used to identify businesses that might be currently undervalued with respect to their actual worth. This can help provide a unique opportunity to build wealth over the long-term.

As per mandate, between 90% to 100% of the fund’s portfolio will be invested in equities. While the remainder of the fund’s assets, i.e. up to 10% of the portfolio, may be invested in cash and money market instruments.

Due to the potentially high risk associated with Axis Max Life BSE 500 Value 50 Index Fund II it is considered appropriate for policyholders who have high risk tolerance. Additionally, this fund may be suitable for policyholders who prefer passive investing, and want to benefit from the long-term growth prospects of value investing techniques.

The Axis Max Life BSE 500 Value 50 Index Fund II is a new fund, so it does not currently have any historical performance data. However, since the fund is designed to closely track the BSE 500 Enhanced Value 50 Index, a closer look at the performance of the index can provide insight into how the value-investing strategy has fared in the past. The historical returns of the BSE 500 Enhanced Value 50 Index versus the BSE 500 Index, across different time periods as of May 29, 2026, are shown in the chart below:

Note: The above data is based on total returns variant of the respective indices. The 3 year, 5 year and 10 year returns data shown above are annualised returns. Past returns do not guarantee future performance.

Though past performance does not guarantee future returns, the historic performance of the BSE 500 Enhanced Value 50 Index indicates the ability of the value-investment approach to outperform the broader Nifty 500 Index across different market cycles. So, those interested in long-term exposure to equities selected using value-investing techniques might find the fund suitable for wealth creation over the long term.

The Axis Max Life BSE 500 Value 50 Index Fund II is a passively managed ULIP fund that seeks to replicate the constituents and performance of the BSE 500 Enhanced Value 50 Index. This underlying index uses a rules-based strategy to pick securities and invest in them, which in turn will be replicated by the new fund. Here are the key steps of the selection process:

• First of all, the investment universe consists of the stocks included in the BSE 500 Index. So companies that are not part of this stock universe are automatically eliminated
• Next some liquidity screens are applied based on trading volumes, average daily turnover ratio, etc., to filter out relatively illiquid stocks
• Once the list of adequately liquid stocks has been filtered out, three key value parameters - book to price ratio, earnings to price ratio and sales to price ratio are used to identify potentially undervalued stocks. These factors can help identify potentially undervalued stocks
• A total of 50 companies with the highest adjusted value scores are chosen for inclusion into the BSE 500 Enhanced Value 50 Index.

This approach will be replicated by the Axis Max Life BSE 500 Value 50 Index Fund II. This can help policyholders gain exposure to a diversified portfolio of fundamentally strong businesses that are currently undervalued and have the potential to deliver significant returns in the long term.

The Axis Max Life BSE 500 Value 50 Index Fund II tracks the BSE 500 Enhanced Value 50 Index. A closer look at this underlying index can thus provide insight into the sectors that are likely to have significant representation in the fund portfolio.

Here is an illustration of the top five sectors and their respective weights in the BSE 500 Enhanced Value 50 Index as of 29 May 2026:

As you can see the index has high allocation towards sectors like financial services and energy. Additionally, this index also features meaningful exposure to various other sectors such as commodities, consumer discretionary and services.

So, policyholders who opt for the Axis Max Life BSE 500 Value 50 Index Fund II can look forward to benefiting from exposure to a diversified portfolio of potentially undervalued stocks that could offer high risk adjusted returns in the long term.

The Axis Max Life BSE 500 Value 50 Index Fund II will feature the same stocks and replicate their individual weight as featured in its underlying index, the BSE 500 Enhanced Value 50 Index.

The following are the top 5 equities and the corresponding weight as featured on the BSE 500 Value 50 Index as of May 29, 2026:

As you can see, the weight of an individual stock on the index is limited. The Axis Max Life BSE 500 Value 50 Index Fund II is expected to follow a similar strategy towards individual stock allocations in its portfolio. This approach can help the fund limit portfolio concentration towards any single stock. As a result, the fund would offer policyholders the opportunity to benefit from broader market opportunities while managing stock-specific risks.

SFIN: ULIF04807/07/26BSENHVALUE104

Risk Profile: Very High

Fund Objective: The objective of the fund is to invest in a basket of stocks drawn from the constituents of the BSE 500 Enhanced Value 50 Index based on value parameters. The fund will invest in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.

Benchmark: BSE 500 Enhanced Value 50 Index

Asset Mix:

Investors can invest in the Axis Max Life BSE 500 Value 50 Index Fund II through various Axis Max Life ULIP offerings. During the new fund offer (NFO) period from July 7 to July 22, 2026, the fund will be available to new and existing policyholders through the following ULIPs:

• Axis Max Life Flexi Wealth Advantage Plan (UIN: 104L121V04)
• Axis Max Life Online Savings Plan Plus (UIN: 104L131V01 )
• Axis Max Life Smart Term with Additional Returns ULIP (STAR ULIP) (UIN: 104L128V01)

Post completion of the NFO period, the fund may be made available through additional Axis Max Life ULIP plans.

Axis Max Life BSE 500 Value 50 Index Fund II is a passively managed equity fund which adopts the value investing approach. As the fund maintains an equity allocation of at least 90%, it features a risk rating of “Very High” and is considered suitable primarily for individuals with high risk tolerance seeking long-term investments.

That said, some key types of policyholders who can benefit through investments in the Axis Max Life BSE 500 Value 50 Index Fund II include:

• Investors seeking to incorporate value investment strategy into their investment portfolio
• Policyholders who want to pursue a passive approach to investing and avoid the risk of fund manager bias
• Individuals who wish to diversify their portfolio across stocks belonging to different sectors and market capitalisations
• Individuals seeking market-linked equity investments that have the potential of generating inflation-beating returns in the long term

Apart from the Axis Max Life BSE 500 Value 50 Index Fund II, Axis Max Life Insurance policyholders can also invest in many other passively managed funds through various ULIP plans. Some of the prominent passively managed ULIP funds currently offered by Axis Max Life Insurance are: