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Axis Mutual Fund started its operations in 2009 with its first equity scheme, Axis Equity Fund. [12] In April 2012, Schroders, an asset management company, acquired a 25% stake in Axis Mutual Fund. [13] [14] In September 2019, Axis Mutual Fund launched an index fund based on Nifty 100 that is known as Axis Nifty 100 Index fund. [15]
According to the Reserve Bank of India report, mutual funds attracted 6% of household savings in FY2023 and less than 1% went into direct equities. [5] [6] [7] Almost 95% of household savings in India park their money in bank deposits, including fixed deposit, provident fund, PPF, life insurance, and various small savings schemes. [5] [6] [7]
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial services company headquartered in Mumbai. [8] It is India's third largest private sector bank by assets and fourth largest by market capitalisation.
The company tied up with State Bank of India in 2006, [8] Punjab National Bank in 2007 [8] and Axis Bank in 2013 [9] to offer online trading to its customers. In January 2010, the company set up a mutual fund business named as Motilal Oswal Asset Management Company (MOAMC). [10]
The strength of the U.S. economic recovery post-COVID and a quest for safe-haven investments helped boost U.S. dominance of global financial flows, while manufacturing incentives led to a surge in ...
Axis Direct provides a 3-in-1 Online Investment Account [2] which is a combination of Axis Bank Savings along with an Axis Direct trading and Demat account services: Equities – Invest online in stocks of listed companies; Mutual Funds – Invest in mutual funds including equity, hybrid, tax saving or debt schemes from asset management companies
Direxion was founded in 1997 under the name Potomac Funds as a provider of mutual funds. The original name referred to the Potomac River near the company's first office in Alexandria, Virginia. [1] In November 1997, Potomac Funds became the second company to introduce an inverse mutual fund, following a similar move by Rydex Investments in 1994 ...
1991 – Launch of SBI Magnum Equity Fund [14] 1999 – Launch of sector funds, India's first contra fund: SBI Contra Fund [15] 2001 – Involvement in Ketan Parekh Scam SBI Mutual Fund, according to the CBI charge-sheet, purchased 22 lakh shares at Rs 165 each in February 2000 through off-market deals from Ketan Parekh-controlled firms.