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Inside the rot at Axis Mutual Fund | The Morning Context

LONGREAD
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Business

Inside the rot at Axis Mutual Fund

Customers are pulling out thousands of crores even as the asset management company investigates its fund managers for front-running trades.

Furquan Moharkan

9 May, 2022•13 min

0

9 May, 2022•13 min

0

Inside the rot at Axis Mutual Fund

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The company has made its mark in apparel manufacturing and retail. Its future now rides on whether it can revive Forever 21 and Dockers in India.

For the lay investor, Axis Mutual Fund was a safe, reliable, credible and consistent fund house to invest in. That faith has now been shattered as the asset management company has sent two of its top fund managers on forced leave over allegations of front-running trades.

Just last Wednesday, Axis Mutual Fund was conferred with the title of “best fund house” across equity and debt investment schemes by market research firm MorningStar India. But by Friday, its reputation had been fractured. The fund announced a change in its equity team leadership as it suspended chief trader and fund manager Viresh …

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