HT Bureau
GUWAHATI, Dec 21: Axis Pension Fund Management Limited (Axis PFM) has been appointed as a Pension Fund Manager (PFM) by Pension Fund Regulatory and Development Authority (PFRDA) for managing the funds under National Pension System (NPS).
Axis PFM received the certificate for business commencement on September 20 from PFRDA and started operations on October 21, 2022, onwards. With the newly launched entity, Axis Group specialises in offering a complete suite of retirement solutions to the citizens. Axis PFM will primarily be responsible for managing the pension funds of the investors across all citizens’ models, corporate sector and government sector respectively, during their work life as per investment guidelines defined by the regulator.
Amitabh Chaudhry, MD&CEO, Axis Bank said, “With the launch of Axis Pension Fund, we are strengthening our presence in the retirement solutions segment.
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By capitalising on the investment management capabilities and distribution strength of Axis Group, we believe that Axis Pension Fund will soon realise its vision of being one of the most preferred retirement solution providers in the industry. The company has already become the fastest private Pension Fund to cross Rs 100 crore of AUM within the first 45 days of business operations.”
