Axis Mutual Fund looks to pivot, but without a key executive

Desperate to make a comeback after the front-running scandal, the fund house is attempting to change its investment strategy. But its chief business officer won’t be part of the journey.

Axis Mutual Fund has a pressing problem on its hands. Its chief business officer, industry veteran Raghav Iyengar, has resigned, according to two people with direct knowledge of the matter who requested anonymity. And this doesn’t augur well for the fund house, ranked among India’s top 10 asset management companies. 

For one, it is desperately trying to rebound from the allegations of front-running that rocked the industry two years ago.

Two, and more importantly, Iyengar’s exit comes at a crucial time for the fund. Over the past few months, it has been trying to move away from a strategy focused …

Author

Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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furquan@mailtmc.com

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