Axis Asset Management Company has acquired the portfolio management services (PMS) business of its affiliate, Axis Securities, in a move to consolidate its wealth management operations.
The transaction brings the entire PMS team from Axis Securities, including investment professionals, product specialists, and sales and client servicing staff, into Axis AMC.
This integration is designed to enhance the asset manager's investment capabilities and expand its service offering for high-net-worth investors.
According to Hindu Businessline, the acquisition represents a strategic step to unify the group's wealth management verticals.
By internalizing the PMS function, Axis AMC aims to streamline operations and provide a more cohesive investment experience for its affluent client base.
The deal underscores the broader trend in India's asset management industry where major players are seeking to deepen their direct relationships with high-net-worth individuals through integrated service models.