Axis AMC has acquired Axis Securities' PMS Arm, a move that significantly bolsters its alternates platform and deepens its foothold among ultra-high-net-worth (UHNI) and high-net-worth (HNI) investors.
Key Highlights
- Axis AMC acquires Axis Securities' PMS business, taking combined AUM to approximately Rs 15,000 crore.
- Naveen Kulkarni appointed Chief Investment Officer for PMS and Listed Equity Alternates at Axis AMC.
The acquired business will now operate under the brand "Alternates by Axis AMC." With the deal, more than 2,500 investors move onto the Axis AMC platform, making it one of the largest PMS acquisitions in India by investor count. The combined PMS assets under management (AUM) will now stand at approximately Rs 15,000 crore.
As part of the transition, the entire PMS team from Axis Securities - including investment professionals, product specialists, and sales and client servicing staff — has joined Axis AMC, ensuring continuity for existing clients.
Naveen Kulkarni, who played a key role in building the Axis Securities PMS arm, has been appointed Chief Investment Officer – PMS & Listed Equity Alternates at Axis AMC. He will now oversee investment strategy, product innovation, and portfolio management across the firm's PMS and listed equity alternates business.
A Transformative Step for Axis AMC
B Gopkumar, MD & CEO, Axis AMC, called the acquisition a "transformative step" in the company's push to build a leadership position in the alternates space, noting that it enhances investment capabilities and strengthens the firm's talent pool while expanding its ability to serve HNI, UHNI, and family office clients. Kulkarni said the goal for "Alternates by Axis AMC" is to blend specialised investment thinking with the credibility of a major asset manager, adding that the firm aims to rank among the top five PMS players in the country within three years.
Also Read: Godrej Capital Enters Gold Loan Business with Strategic Acquisition
What's Next: Expanding the Alternates Offering
Axis AMC plans to widen its alternates offerings following the acquisition, including:
- Customised mandates for HNIs and family offices
- Non-discretionary PMS solutions
- New products built on its Category III AIF capabilities
- A listed equity alternates strategy spanning thematic bets, small-cap opportunities, and quantitative investing
The deal marks one of the more significant consolidation moves in India's fast-growing PMS and alternates investment industry, as established asset managers continue to expand their footprint in the higher-ticket, more sophisticated end of the wealth management market.
