Axis AMC augments alternates platform with strategic acquisition of Axis Securities’ PMS business

Axis Asset Management Company on Thursday announced the acquisition of the Portfolio Management Services (PMS) business of Axis Securities, significantly augmenting its alternates platform and strengthening its presence in the rapidly growing ultra-high-net-worth (UHNI) investor segment and high-net-worth (HNI). The acquired business will operate under ‘Alternates by Axis AMC’.

The acquisition brings over 2,500 investors onto the Axis AMC platform, making it one of the largest PMS acquisitions in the country by investor count. With the addition of the acquired business, Axis AMC’s PMS assets under management will increase to around ₹15,000 crore.

The acquisition combines boutique investment expertise with the institutional strength, governance standards and distribution capabilities of Axis AMC. As part of the integration, the entire PMS team of Axis Securities, including investment professionals, product specialists, sales and client servicing teams, have joined Axis AMC, ensuring continuity and providing a strong platform for future growth and innovation.

Axis AMC has appointed Naveen Kulkarni as Chief Investment Officer – PMS & Listed Equity Alternates. With over two decades of experience across equity markets, research and portfolio management, Naveen was instrumental in building the Axis Securities PMS franchise into a leading platform. In his new role, he will lead investment strategy, product innovation and portfolio management across Axis AMC's PMS and listed equity alternates business.

B. Gopkumar, MD & CEO, Axis AMC, said, “This acquisition is a transformative step in our journey to build a leadership position in the alternates space. More than the scale, it significantly enhances our investment capabilities and strengthens our talent pool. It also expands our ability to serve the evolving needs of HNI, UHNI investors, and family offices with tailored investment strategies backed by institutional-quality research, portfolio management and execution capabilities. The acquisition reinforces Axis AMC's commitment to building a comprehensive alternates platform and positions the firm strongly to capitalise on one of the fastest-growing segments within India's investment management industry.”

Naveen Kulkarni, Chief Investment Officer – PMS & Listed Equity Alternates, Axis AMC, said, “Through ‘Alternates by Axis AMC’, our endeavour is to create a platform that combines specialised investment thinking with the strength and credibility of a leading asset management company. We have a clear ambition to be among the top five PMS players in the country over the next three years.”

The acquisition significantly expands Axis AMC's alternates platform and opens up new opportunities across discretionary and non-discretionary PMS solutions. The company plans to launch a broader suite of offerings under the platform, including customised mandates for HNIs and family offices, non-discretionary PMS solutions, and new products leveraging its Category III AIF capabilities. Axis AMC's listed equity alternates platform will focus on areas where active investment expertise can create differentiated outcomes, including thematic strategies, small-cap opportunities and quantitative investing approaches.