Axis Mutual Fund

Axis Mutual Fund
TypeJoint venture
IndustryInvestment management
Founded2009 (2009)
HeadquartersMumbai, India
Area served
India
Key peopleB.Gopkumar (MD & CEO)[1][2]
Shreyas Devalkar (head of equity)[3][4]
Products
AUMIncrease ₹263,740 crore (US$27 billion) (December 2023)[5]
OwnerAxis Bank (75%)
Schroders (25%)
Websitewww.axismf.com
Footnotes
[6][7][8]

Axis Mutual Fund is an Indian asset management company. It was established in the year 2009 and has its headquarters in Mumbai.[9][10]

The firm offers various types of mutual fund schemes to invest in Indian equities and bonds and internationally.[11]

History

Axis Mutual Fund started its operations in 2009 with its first equity scheme, Axis Equity Fund.[12]

In April 2012, Schroders, an asset management company, acquired a 25% stake in Axis Mutual Fund.[13][14]

In September 2019, Axis Mutual Fund launched an index fund based on Nifty 100 that is known as Axis Nifty 100 Index fund.[15] On 22 January 2020, the company launched ESG fund.[16]

In May 2026, the firm suspended new subscriptions in three of its international funds.[17]

Securities and Exchange Board investigation

Two fund managers of Axis Mutual Fund allegedly shared confidential information about the asset manager's trades with brokers in Gujarat in return for kickbacks, according to a 2022 Securities and Exchange Board of India (SEBI) investigation into alleged front running.[18][19][20] In 2023 and 2024, the firm's top management was replaced, including its chief executive officer, chief investment officer, and chief business officer, in the hopes of restoring investor confidence.[21]

See also

References

  1. ↑ "Axis AMC appoints B Gopkumar as CEO & MD". Economic Times. 10 March 2023.
  2. ↑ "Axis Mutual Fund announces top management changes". Value Research Online. 10 March 2023.
  3. ↑ "Axis MF appoints Shreyas Devalkar as new equity head". The Hindu Business Line. 4 August 2023.
  4. ↑ "Axis Mutual Fund appoints Shreyas Devalkar as head of equities". CNBC TV 18. 4 August 2023.
  5. ↑ "Top 10 mutual funds in India; Nippon India Mutual Fund AUM rises 37.06% in 2023". economictimes.indiatimes.com. 16 January 2024.
  6. ↑ "Annual Report 2021-2022" (PDF). Axis Mutual Fund. Retrieved 1 August 2022.
  7. ↑ "Corporate Profile" (PDF). Axis Mutual Fund.
  8. ↑ "Axis Mutual Fund". Groww. Retrieved 14 February 2022.
  9. ↑ "Axis Mutual Fund: Axis Mutual Fund Schemes/Returns, Axis Mutual Fund Latest NAV, Axis Mutual Fund Application Form". www.moneycontrol.com.
  10. ↑ "We are in a stock picker's market: Axis Mutual Fund". www.fortuneindia.com.
  11. ↑ "Brochure: Axis Mutual Fund" (PDF).
  12. ↑ Adajania, Kayezad E. (30 April 2012). "Axis mutual fund and its investors go global". Livemint.
  13. ↑ "UK-based Schroders AMC to buy 25% stake in Axis MF". Moneycontrol.
  14. ↑ "Axis MF launches new close-ended equity scheme". Business Standard India. Press Trust of India. 19 November 2013.
  15. ↑ "Axis Mutual Fund launches Axis Nifty 100 Index Fund". The Economic Times. 24 September 2019.
  16. ↑ Borate, Neil (21 January 2020). "Axis MF launches ESG fund with foreign twist". Livemint.
  17. ↑ "Axis Mutual Fund temporarily suspends subscriptions in three overseas schemes". www.valueresearchonline.com. Retrieved 30 August 2026.
  18. ↑ Upadhyay, Jayshree P. (18 May 2022). "Behind the front-running case at Axis Mutual Fund". mint.
  19. ↑ "Sacked Axis MF fund manager Viresh Joshi sues asset management company". The Economic Times. 23 June 2022.
  20. ↑ Vanamali, Krishna Veera (10 May 2022). "Should recent events at Axis Mutual Fund worry India's retail investors?". Business Standard. Retrieved 19 August 2022.
  21. ↑ "Two years after front-running scandal, Axis Mutual Fund schemes struggle on the return charts - CNBC TV18". CNBCTV18. 10 April 2024. Retrieved 6 August 2026.
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