2 years into a complete overhaul at Axis MF – from top management changes to review of investment philosophy to tightening risk and compliance processes, Axis 2.0 is now beginning to show results in terms of improved equity fund performance, which Gop says will now remain consistent.
Broader diversification of portfolios and diversification of styles within the equity team are key tenets of Axis 2.0, apart from tighter risk guardrails while ensuring sufficient freedom for each fund manager.
Gop is keen to create more visibility for the AMC’s debt franchise which has a sound track record with a stable high quality team.
FY24-25 marks a turnaround in business with net flows turning positive and broader participation from MFDs. Gop is keen to expand Axis MF’s market share among MFDs beyond the top 1000 in addition to continuing strong engagement with the top 1000, and promises to be a reliable knowledge partner for them in their upskilling journeys.
Gop sees an exciting future for Specialized Investment Funds (SIFs) and is the first AMC off the blocks in appointing a specialist CIO for this vertical. Expect innovative SIF launches from Axis MF in FY25-26.
A key trend he is seeing now is large broking based fintechs now trying to pivot from direct plans to regular plans in an effort to make up for falling revenues in the broking business. What this might mean for growth in SIP numbers remains to be seen – as direct plans sold by fintechs have been the biggest volume contributor to the SIP growth story in recent years.