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The acquisition brings over 2,500 investors onto the Axis AMC platform, making it one of the country’s largest PMS acquisitions by investor count.
Following the acquisition, the business will operate under the ‘Alternates by Axis AMC’ platform, the company said in a statement.
Asset management company Axis AMC on Thursday said it has acquired the Portfolio Management Services (PMS) business of Axis Securities, strengthening its presence in the high-net-worth (HNI) and ultra-high-net-worth (UHNI) investor segment.
The financial details of the deal were not disclosed.
Following the acquisition, the business will operate under the ‘Alternates by Axis AMC’ platform, the company said in a statement.
The acquisition brings over 2,500 investors onto the Axis AMC platform, making it one of the country’s largest PMS acquisitions by investor count.
With the transaction, Axis AMC’s PMS assets under management will increase to around Rs 15,000 crore.
As part of the integration, the entire PMS team of Axis Securities, including investment professionals, product specialists, sales and client servicing teams, has joined Axis AMC.
The company has also appointed Naveen Kulkarni as Chief Investment Officer of PMS and Listed Equity Alternates. In his new role, he will lead investment strategy, product innovation and portfolio management across the PMS and listed equity alternates business.
“This acquisition is a transformative step in our journey to build a leadership position in the alternates space,” Axis AMC MD & CEO B Gopkumar said.
Axis AMC said it plans to expand its alternates platform by launching a broader suite of offerings, including customised mandates for HNIs and family offices, non-discretionary PMS solutions, and new products leveraging its Category III Alternative Investment Fund (AIF) capabilities.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
Axis AMC’s acquisition of Axis Securities’ PMS business is expected to bolster its market position by strengthening its presence in the HNI/UHNI investor segment.
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