Axis Value Fund News Today

There were 22 schemes in the value and contra fund category in the first half of the year (January to June). All the schemes in the category offered positive returns.

Axis AMC, which is the seventh-largest asset management company of the country, suddenly finds itself in a soup with allegations of serious violations by its fund managers. It needs to clear the air soon on what went wrong and what it is doing to fix the problem

Fund manager Deepak Agrawal, who joined Axis AMC as equity research analyst in 2015, has been sacked with immediate effect; chief trader Viresh Joshi was sacked on Thursday.

The seventh-largest fund house in terms of assets under management had earlier suspended chief trader Viresh Joshi and assistant fund manager Deepak Agrawal. 

Signs of Malice on the Mutual Fund Front

Axis AMC, which is India’s seventh largest asset manager, is being probed for alleged front-running by two officials.

The Indian partner of global money manager Schroders Plc is under investigation by the countrys capital markets regulator for alleged front-running by two of its officials, according to people familiar with the matter.

According to reports, Axis Mutual Fund has changed the fund manager for as many as seven schemes. 

Axis Mutual Fund has removed its head trader Viresh Joshi as fund manager from five schemes. Similarly, Deepak Agarwal, the assistant fund manager for equity at Axis MF, is no longer part of schemes like Axis Consumption ETF, Axis Quant Fund, and Axis Value Fund.

Among those who have been removed as fund managers are Chief Trader & Fund Manager Viresh Joshi and Assistant Fund Manager Deepak Agrawal. While Joshi has been with Axis MF since 2009, Agarwal joined the fund house in 2015 as an equity research analyst.