Axis Fund house roots for quality stocks as slowdown rattles the Street

The strategy has paid off for Axis. Its largest fund, Axis Long Term Equity Fund, has delivered an annual return of over 12 per cent over the past five years, beating 96 per cent of peers

In a stock market where nerves have been rattled by a slowing economy and a crisis in the lending sector, Axis Asset Management Co. believes it is worth paying more for shares of high-quality companies.

“What is doing well and has the potential to keep doing well will be reflected in stock prices,” said Chandresh Nigam, chief executive officer of the fund house, which manages one trillion rupees ($14 billion) of assets. “It is a winner-takes-all market.”

The strategy has paid off for Axis. Its largest fund, Axis Long Term Equity Fund, has delivered an annual return of over 12 per cent