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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