When UTI Bank was renamed as Axis Bank everyone thought why still we have UTI Mutual Fund and not renamed it to Axis Mutual Fund and may be because it was different entities owned differently. Axis Mutual Fund House will shortly be filing for both equity and debt products. These offerings should be available by October / November of this year.
As I read on moneycontrol.com Rajiv Anand, MD & CEO of Axis AMC said and I quote
We are very pleased to have received SEBI’s approval. The Asset Management Industry in India is amongst the fastest growing financial services businesses from across the globe. With a growth rate of over 30% CAGR during the last 6 years, the mutual fund business presents an interesting opportunity.
Lets see if I can have some funds by them into my ebook soon or its just yet another Mutual Fund House with average performance is what we need to wait and see.