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Should I redeem from Axis Mutual Funds because of the Front-Running Scam?

Discussion in 'Technical Analysis' started by shabbir, May 22, 2022.

  1. shabbir

    shabbir Administrator Staff Member

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    Yes, you should redeem from all Axis Mutual Fund schemes because of the Front-Running Scam and if you want to know why - Keep reading

    Continue reading...
     
    shabbir, May 22, 2022
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  2. emailsaravanans

    emailsaravanans Active Member

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    If this is happening for Axis, it might be happening for others too right?

    As you suggested do we really need to get out completely from Axis instead of exiting from those affected funds?
     
    emailsaravanans, May 23, 2022
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  3. shabbir

    shabbir Administrator Staff Member

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    I do recommend getting out of Axis completely because you never know how deep the problem is. The reason I am saying to move out is because there are other better alternative funds available.

    Whats your argument to remain invested?
     
    shabbir, May 23, 2022
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  4. emailsaravanans

    emailsaravanans Active Member

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    I agree your point of how deep the problem is. I was thinking about someone who heavily invested in Axis but unable to come out completely. I thought they could only come out of those affected fund for now.

    Ideal situation is to come out completely. If everyone does that today, it would be a great lesson for AMCs and also wondering what will be the impact (stock market) if Axis AUM comes to 0.
     
    emailsaravanans, May 24, 2022
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  5. shabbir

    shabbir Administrator Staff Member

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    They will not come to 0 because there are governed rules. This is not LUNA (Crypto).

    Yes bank didn't go to 0 nor did Franklin Templeton.

    There will be people who will remain invested as well thinking this is good time to invest in the fund but we know bad time in shares is good but not in fund.
     
    shabbir, May 25, 2022
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  6. emailsaravanans

    emailsaravanans Active Member

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    Yes, totally agree issues with fund managers are super critical here. Good lesson for both investors and AMC companies...

    I am not sure why there is no strict action against them other than simply firing from the job... I don't see any FIR or arrest... I feel this will make the situation worse for Axis...

    What is the role of SEBI in this? Any idea?

    Complete exit is the right thing to do...
     
    emailsaravanans, May 25, 2022
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  7. shabbir

    shabbir Administrator Staff Member

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    There will be once proved guilty and yes SEBI as well as AMFI India will have to take action against it for sure.
     
    shabbir, May 26, 2022
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