Axis Asset Management Company has suspended two fund managers on alleged irregularities in placing of equity trading orders.
In a statement issued on May 6, it said:
Axis AMC has been conducting a suo moto investigation over the last two months (since February 2022). The AMC has used reputed external advisors to aid the investigation.
As part of the process, two fund managers have been suspended pending investigation of potential irregularities. We take compliance with applicable legal/regulatory requirements seriously, and have zero tolerance towards any instance of non-compliance.
The media is requested not to give credence to market speculation and idle gossip, which are baseless and we strongly refute the same.
