Axis Asset Management Company (Axis AMC) has acquired the Portfolio Management Services (PMS) business of Axis Securities, marking a strategic move to expand its presence in the high net-worth individual (HNI) and ultra-high-net-worth individual (UHNI) investment segment. According to reports from The Times of India and The Hindu BusinessLine, the transaction brings over 2,500 investors onto the fund house's platform, significantly expanding Axis AMC's client base in the premium investment segment. The acquisition is among the largest PMS deals in India by investor count and will see the acquired business operate under 'Alternates by Axis AMC' platform.
Following the acquisition, Axis AMC's combined PMS assets under management (AUM) will exceed ₹15,000 crore, as reported by The Times of India and The Hindu BusinessLine. As part of the integration, the company has appointed Naveen Kulkarni as Chief Investment Officer (CIO) for PMS and Listed Equity Alternates. Kulkarni previously led the PMS business at Axis Securities and brings over two decades of experience in equity markets, research and portfolio management. He was instrumental in building the Axis Securities PMS franchise into a leading platform and will lead investment strategy, product innovation and portfolio management across PMS and listed equity alternates. B Gopkumar, MD and CEO, stated that the acquisition is a transformative step in building a leadership position in the alternates space, significantly enhancing investment capabilities and strengthening the talent pool.
The acquired business will operate under the 'Alternates by Axis AMC' platform, with the integration including the transfer of the entire PMS team from Axis Securities, including investment, product, sales and client servicing professionals. According to The Times of India and The Hindu BusinessLine, this ensures continuity for existing clients while strengthening Axis AMC's alternatives business and broadening its product offerings. The transaction combines boutique investment expertise with institutional strength, governance standards and distribution capabilities. The entire PMS team of Axis Securities has transitioned to Axis AMC, ensuring continuity across functions and maintaining the specialized investment thinking that has built the acquired franchise.
Axis AMC plans to introduce additional discretionary and non-discretionary PMS strategies, customised mandates for HNIs and family offices, and products under its Category III Alternative Investment Fund (AIF) platform. The listed equity alternates platform is expected to focus on investment strategies such as thematic investing, small-cap opportunities and quantitative investing. Kulkarni expressed ambitions to be among the top five PMS players in the country over the next three years through 'Alternates by Axis AMC'. The endeavour aims to create a platform that combines specialised investment thinking with the strength and credibility of a leading asset management company. The acquisition expands the alternates platform and opens opportunities across discretionary and non-discretionary PMS solutions, with the company planning to launch a broader suite of offerings including new products leveraging Category III AIF capabilities.
