Mumbai | The Food Corporation of India (FCI) has appointed Axis Asset Management Company Ltd. (Axis AMC) as the Portfolio Manager for the Trustees Food Corporation of India Contributory Provident Fund (TFCICPF). This strategic partnership aims to enhance the governance, security, and growth of the provident fund corpus.
Axis AMC’s selection underscores the strength of its strong parentage, its robust investment capabilities and its pedigreed institutional client expertise. Axis AMC will leverage its expertise to professionally manage the fund’s investments, adhering strictly to regulatory guidelines and Ministry of Labour & Employment (MoLE) norms.
Commenting on the development, B. Gopkumar, MD & CEO, Axis AMC said, “We are delighted to announce our appointment as the sole portfolio manager to manage the corpus of TFCICPF. Axis AMC is keen to utilise its people, process, risk framework and governance strength. We are humbled that the FCI reposed its faith in our strong parentage and long track record of managing investors’ money across various asset classes and over numerous market cycles. We look forward to a fruitful and long association between Axis AMC and TFCICPF.”
Vandana Trivedi, Head – Institutional Business & Passives, Axis AMC said, “We are honoured to be entrusted with the management of TFCICPF’s corpus. This mandate reflects the confidence placed in Axis AMC’s institutional capabilities. We look forward to partnering with FCI in safeguarding and growing the retirement assets of its members.”
