Axis AMC Acquires Axis Securities’ PMS Business; Combined AUM Hits ₹15,000 Crore

Axis Asset Management Company (Axis AMC) has acquired the Portfolio Management Services (PMS) business of Axis Securities, as per The Moneycontrol news report.  

Following the transaction, the combined PMS Assets Under Management (AUM) have crossed ₹15,000 crore. The acquisition also adds more than 2,500 investors to Axis AMC's PMS platform. The financial terms of the deal have not been disclosed. 

The transferred business will now operate under the name 'Alternates by Axis AMC'. The transaction is one of the larger transfers in India's PMS industry in terms of investor base. 

Investment Team Joins the Fund House 

The acquisition includes the transfer of the entire PMS team from Axis Securities to Axis AMC. This covers investment professionals, product specialists, sales teams, and client servicing staff. The companies said the existing team will continue to manage portfolios and service clients after the integration. 

As part of the move, Naveen Kulkarni has been appointed Chief Investment Officer (CIO) for PMS and Listed Equity Alternates at Axis AMC. He earlier headed the PMS business at Axis Securities and will now oversee the combined PMS investment platform. 

Product Plans After the Acquisition 

Portfolio Management Services (PMS) are investment products offered mainly to high-net-worth investors. Under this structure, investments are held and managed in the client's own name based on an agreed mandate, unlike mutual funds where investors own units of a pooled portfolio. 

Axis AMC noted that it plans to add more offerings under its alternatives business after the acquisition. These include discretionary and non-discretionary PMS strategies, customised mandates for high-net-worth investors and family offices, and products under its Category III Alternative Investment Fund (AIF) platform. 

Equity Alternatives Platform 

The company also plans to introduce listed equity strategies covering thematic investing, small-cap stocks, and quantitative investing. These products will be offered through its alternatives platform alongside the existing PMS business. 

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Conclusion 

The transaction signals the transfer of Axis Securities' PMS business to Axis AMC, including its investors and investment team. Following the acquisition, the combined PMS AUM has exceeded ₹15,000 crore. 

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