Axis Mutual Fund has announced a temporary suspension of subscription to units in its three international funds, Axis Global Equity Alpha Fund of Fund, Axis Global Innovation Fund of Fund, and Axis Greater China Equity Fund of Fund, with effect from May 5.
The fund house, through a notice-cum-addendum, announced that acceptance of lump sum subscriptions, switch-ins, and fresh registration of systematic transactions into the schemes of the fund are suspended with effect from the effective date.
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Accordingly, no applications in the schemes for lump sum/switch-ins/fresh registrations of systematic transactions shall be accepted post 3.00 pm on May 5, 2026. However, transactions such as redemptions/switch-outs and existing systematic transactions shall continue.
The fund house also informed that the aforesaid suspension is temporary in nature and will be in effect until further notice by Axis AMC.
Unitholders were further informed that this move is to avoid exhaustion of limits available for the schemes for investments in overseas securities.
Axis Global Equity Alpha Fund of Fund had an AUM of Rs 1,859 crore and delivered a return of 35.94% in the last one year. Axis Global Innovation Fund of Fund had an AUM of Rs 656 crore and delivered a return of 40.90% in the last one year. Axis Greater China Equity Fund of Fund had an AUM of Rs 3,049 crore and delivered a return of 59.43% in the last one year.
Apart from these three international funds, the fund house manages three other international funds, Axis NASDAQ 100 US Specific Equity Passive FoF, Axis S&P 500 ETF FoF, and Axis US Specific Treasury Dynamic Debt Passive FoF.
In the same notice-cum-addendum, the fund house said that Ashish Gupta has ceased to be a key personnel of Axis Asset Management Company Limited with effect from the close of business hours on April 30, 2026. Accordingly, all references to Gupta in the SAI of the fund stand deleted.
In March, the fund house, through a release, announced the elevation of R Sivakumar as Chief Investment Officer (CIO) as part of an internal succession plan. Ashish Gupta, who served as CIO and led the investments team, stepped down from his role to pursue other professional and personal interests.
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In the release, the fund house said that there are no other changes to the investment leadership structure. Effective from March, Shreyash Devalkar (Head, Equity), Devang Shah (Head, Fixed Income), and Nandik Malik (Head, Equity and Hybrid SIF) will report to Sivakumar.
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