Axis AMC acquires Axis Securities PMS

Axis Bank (Axis AMC) has acquired the Portfolio Management Services (PMS) business of Axis Securities, a move that significantly bolsters its alternates platform and deepens its foothold among ultra-high-net-worth (UHNI) and high-net-worth (HNI) investors. The acquired business will now operate under the brand 'Alternates by Axis AMC'. The deal brings over 2,500 investors onto the Axis AMC platform, making it one of the largest PMS acquisitions in India by investor count. The combined PMS assets under management will now stand at approximately Rs 15,000 crore. As part of the transition, the entire PMS team from Axis Securities has joined Axis AMC, ensuring continuity for existing clients. Naveen Kulkarni, who played a key role in building the Axis Securities PMS franchise, has been appointed Chief Investment Officer - PMS & Listed Equity Alternates at Axis AMC. B. Gopkumar, MD & CEO of Axis AMC, called the acquisition a transformative step in the company's push to build a leadership position in the alternates space. Axis AMC plans to expand its alternates platform by launching customised mandates for HNIs and family offices, non-discretionary PMS solutions, and new products leveraging its Category III AIF capabilities. The listed equity alternates platform will focus on thematic strategies, small-cap opportunities and quantitative investing approaches.