Axis Mutual Fund is an
asset management company
An asset management company (AMC) is an asset management / investment management company/firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the company/firm provides more ...
in India. It was established in the year 2009 and has its headquarter in
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
.
Axis Mutual Fund offers various types of
mutual fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...
schemes to invest in India, such as
equity fund
A stock fund, or equity fund, is a fund that invests in stocks, also called equity securities. Stock funds can be contrasted with bond funds and money funds. Fund assets are typically mainly in stock, with some amount of cash, which is genera ...
s, hybrid funds, debt funds, and more.
History
Axis Mutual Fund started its operations in 2009 with its first equity scheme, Axis Equity Fund.
In April 2012,
Schroders
Schroders plc is a British multinational asset management company, founded in 1804. The company employs over 5,000 people worldwide in 32 locations around Europe, America, Asia, Africa and the Middle East. Headquartered in the City of London, it ...
, an asset management company, acquired a 25% stake in Axis Mutual Fund.
In September 2019, Axis Mutual Fund launched an index fund based on Nifty 100 that is known as Axis Nifty 100
Index fund
An index fund (also index tracker) is a mutual fund or exchange-traded fund (ETF) designed to follow certain preset rules so that the fund can a specified basket of underlying investments.Reasonable Investor(s), Boston University Law Review, avail ...
. On 22 January 2020, the company launched ESG fund.
Controversy
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 new details discovered by a
Securities and Exchange Board of India
The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive ...
(SEBI) investigation.
See also
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Mutual funds in India
The first introduction of a mutual fund in India occurred in 1963, when the Government of India launched Unit Trust of India (UTI). UTI enjoyed a monopoly in the Indian mutual fund market until 1987, when a host of other government-controlled Ind ...
*
Axis Bank
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses.
As ...
References
External links
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{{Major asset management companies
Financial services companies based in Mumbai
Mutual funds of India
Axis Bank
2009 establishments in Maharashtra
Indian companies established in 2009
Financial services companies established in 2009