Axis Mutual Fund Temporarily Suspends Subscriptions for Three International Funds
Axis Mutual Fund announces temporary suspension of subscription to units in its 3 international funds
The Economic TimesImage: The Economic Times
Axis Mutual Fund has temporarily suspended subscriptions to its three international funds effective May 5, 2026, due to limits on investments in overseas securities. While new subscriptions are halted, existing transactions will continue. The fund house also announced a leadership change with Ashish Gupta stepping down as Chief Investment Officer.
- 01Subscriptions to three international funds suspended due to overseas investment limits.
- 02Suspension effective from May 5, 2026, at 3:00 PM.
- 03Existing transactions like redemptions will still be processed.
- 04Ashish Gupta has stepped down as Chief Investment Officer.
- 05The funds have shown significant returns over the past year.
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Axis Mutual Fund has announced a temporary suspension of subscriptions to three of its international funds: the Axis Global Equity Alpha Fund of Fund, Axis Global Innovation Fund of Fund, and Axis Greater China Equity Fund of Fund, effective May 5, 2026. This decision was made to prevent the exhaustion of investment limits in overseas securities. As a result, no new lump sum subscriptions, switch-ins, or fresh registrations for systematic transactions will be accepted post 3:00 PM on the effective date. However, existing transactions such as redemptions and switch-outs will continue as normal. The Axis Global Equity Alpha Fund of Fund has an Asset Under Management (AUM) of ₹1,859 crore and delivered a return of 35.94% over the last year, while the Axis Global Innovation Fund of Fund had an AUM of ₹656 crore with a return of 40.90%. The Axis Greater China Equity Fund of Fund, with an AUM of ₹3,049 crore, delivered a remarkable 59.43% return in the same period. Additionally, the fund house announced that Ashish Gupta has ceased to be a key personnel of Axis Asset Management Company Limited as of April 30, 2026, following his resignation as Chief Investment Officer. R Sivakumar has been elevated to the position as part of an internal succession plan.
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Investors in these funds will be unable to make new investments, potentially affecting their portfolio diversification strategies.
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