Axis chief Amitabh Chaudhry targets threefold growth in AUM of MF arm

Axis AMC will expand its product range and leverage the parent bank's distribution channel to improve sales and target better customer segments

Axis Bank’s new Chief Executive Officer Amitabh Chaudhry wants a three-fold growth in the assets under management (AUM) of the mutual fund arm in the near future. Axis Asset Management, which had an average AUM worth Rs 81,622 crore as of December 2018, wants to scale it up to Rs 2.5 trillion, he said. The bank has set a timeline of three to four years for this growth.

“The bank’s MF business, in terms of AUM, is ranked ninth. In this business you won’t make much money unless you are in the top five, especially after the changes introduced by