Axis Asset Management Company (Axis AMC), the mutual fund arm of Axis Bank, has agreed to acquire the portfolio management services (PMS) business of Axis Securities, adding over 2,500 investors and taking its PMS assets under management (AUM) to around Rs 15,000 crore, according to a company statement.
Deal Details
The acquisition is among the largest PMS deals in India by investor count and will see the acquired business operate under “Alternates by Axis AMC.” The transaction brings over 2,500 investors onto the platform and increases PMS AUM to around Rs 15,000 crore after integration, according to the company. The combined PMS AUM crossing Rs 15,000 crore strengthens the firm’s alternatives platform and expands its presence in the HNI and UHNI segments.
| Metric | Detail |
|---|---|
| Acquired Business | PMS business of Axis Securities |
| Acquiring Entity | Axis Asset Management Company (Axis AMC) |
| Investors Added | Over 2,500 |
| Combined PMS AUM | Around Rs 15,000 crore |
| Post-Acquisition Brand | “Alternates by Axis AMC” |
| Key Appointment | Naveen Kulkarni as CIO – PMS and listed equity alternates |
Strategic Rationale
Gopkumar, MD and CEO of Axis AMC, said: “This acquisition is a transformative step in our journey to build a leadership position in the alternates space. More than the scale, it significantly enhances our investment capabilities and strengthens our talent pool. It also expands our ability to serve the evolving needs of HNI, UHNI investors, and family offices with tailored investment strategies backed by institutional-quality research, portfolio management and execution capabilities. The acquisition reinforces Axis AMC's commitment to building a comprehensive alternates platform and positions the firm strongly to capitalise on one of the fastest-growing segments within India's investment management industry.”
The move combines boutique investment expertise with institutional strength, governance standards, and distribution capabilities, the statement said.
Leadership and Team Transition
The entire PMS team of Axis Securities, including investment professionals, product specialists, sales, and client servicing teams, has transitioned to Axis AMC, ensuring continuity across functions, according to the company.
Naveen Kulkarni has been appointed chief investment officer – PMS and listed equity alternates. He has over two decades of experience in equity markets, research and portfolio management and will lead investment strategy, product innovation and portfolio management across PMS and listed equity alternates.
Kulkarni said: “Through ‘Alternates by Axis AMC’, our endeavour is to create a platform that combines specialised investment thinking with the strength and credibility of a leading asset management company. We have a clear ambition to be among the top five PMS players in the country over the next three years.”
Future Plans and Product Expansion
The acquisition expands the alternates platform and opens opportunities across discretionary and non-discretionary PMS solutions. The company plans to launch a broader suite of offerings including customised mandates for HNIs and family offices and non-discretionary PMS solutions, along with new products leveraging Category III AIF capabilities, according to the statement.
The listed equity alternates platform will focus on thematic strategies, small-cap opportunities, and quantitative investing approaches.
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