Mumbai: Axis Asset Management Company (Axis AMC) has acquired the Portfolio Management Services (PMS) business of Axis Securities, marking a strategic move to strengthen its presence in India’s rapidly growing high net-worth individual (HNI) and ultra-high-net-worth individual (UHNI) wealth management segment.
With the acquisition, the combined PMS assets under management (AUM) of Axis AMC will exceed ₹15,000 crore, significantly enhancing the company’s footprint in the discretionary portfolio management space. The transaction also brings more than 2,500 investors from Axis Securities’ PMS platform under Axis AMC’s management.
As part of the integration, Naveen Kulkarni has been appointed as the Chief Investment Officer (CIO) – Portfolio Management Services. Kulkarni will lead the investment strategy and portfolio management function, leveraging his extensive experience in equity research and investment management to strengthen the firm’s PMS offerings.
The acquisition aligns with Axis AMC’s broader strategy to expand its suite of investment solutions beyond mutual funds and cater to the evolving wealth management needs of affluent investors. By combining the expertise and capabilities of both businesses, the asset manager aims to offer differentiated, research-driven portfolio solutions tailored for HNI and UHNI clients.
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India’s wealth management industry has witnessed robust growth in recent years, driven by rising financial assets, increasing participation of affluent investors, and growing demand for customised investment products. Portfolio Management Services have emerged as a preferred investment avenue for investors seeking personalised strategies and active portfolio management.
With this acquisition, Axis AMC is well-positioned to capitalise on the expanding wealth management opportunity while reinforcing its commitment to delivering sophisticated investment solutions backed by strong research and disciplined portfolio management.
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