Axis AMC acquires Axis Securities’ PMS business; combined AUM crosses ₹15,000 crore

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23 Jul 2026

Axis Asset Management Company (Axis AMC) has acquired the Portfolio Management Services (PMS) business of Axis Securities, strengthening its position in India’s rapidly growing alternatives and wealth management space.

Following the acquisition, the combined PMS assets under management (AUM) of Axis AMC will exceed ₹15,000 crore, marking one of the most significant consolidation moves in the Indian PMS industry in recent years.

The acquired PMS business will now operate under the brand “Alternates by Axis AMC.” As part of the transition, more than 2,500 investors from Axis Securities’ PMS platform will be integrated into Axis AMC, making it one of the largest PMS acquisitions in India by investor count.

Axis AMC stated that the entire PMS team from Axis Securities, including investment professionals, product specialists, and client servicing staff, will join the asset management company to ensure continuity for existing clients.


Naveen Kulkarni, who played a key role in building the Axis Securities PMS franchise, has been appointed as Chief Investment Officer (CIO) – PMS & Listed Equity Alternates at Axis AMC. He will oversee investment strategy, product innovation, and portfolio management across the firm’s PMS and listed equity alternates business.

B Gopkumar, MD & CEO of Axis AMC, described the acquisition as a transformative step in the company’s strategy to build a leadership position in the alternatives segment. The move is expected to enhance Axis AMC’s investment capabilities, strengthen its talent pool, and expand its offerings for HNI, UHNI, and family office clients.

With this acquisition, Axis AMC aims to further broaden its alternatives platform through customised mandates for HNIs and family offices, non-discretionary PMS solutions, Category III AIF-based products, and listed equity alternates strategies focusing on thematic, small-cap, and quantitative investing.

The transaction highlights the increasing consolidation and competitive intensity within India’s PMS and alternatives investment industry, as asset managers seek scale and differentiated investment capabilities to cater to the evolving needs of affluent investors.