What benchmark is used and why? Is there a style mismatch?
Last Updated last year
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Each portfolio is compared to a relevant benchmark index — chosen based on its composition and investment style.
For example:
- Large-cap portfolios may use Nifty 100 or BSE 200.
- Small-cap portfolios may be benchmarked against Nifty Smallcap 250.
If a portfolio focuses on a unique theme (like innovation or momentum), the benchmark may not perfectly match — this is called a style mismatch, and Axe highlights it transparently wherever applicable.