Axis Mutual Fund announced the replacement of Shreyash Devalkar as one of the fund managers for Axis Equity Hybrid Fund. The fund currently has three fund manager and this change reduces their number to two.
Subsequent to the change, which is effective November 26, 2018, Axis Equity Hybrid Fund (which is an aggressive hybrid fund) will be co-managed by Ashish Naik and R. Sivakumar. Naik and Sivakumar were previously co-managing the fund with Devalkar.
Devalkar has been the equities fund manager at Axis Mutual Fund since November 2016 and has managed the fund house’s top performing funds such as Axis Midcap Fund and Axis Bluechip Fund. These have five year returns of 22.56 percent and 15.85 percent, respectively. (As on Nov. 20, 2018)
Date: 22 NOV 2018