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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.