Axis MF sacks second fund manager in two days, assigns no reason

Deepak Agrawal was under probe for alleged irregularities. His exit follows that of chief trader and fund manager Viresh Joshi

Axis Asset Management Company (AMC) on Friday terminated its second fund manager Deepak Agrawal who was under probe for alleged irregularities. Two days ago the fund house had suspended chief trader and fund manager Viresh Joshi, who was subsequently taken off the rolls.

"The employment of Deepak Agrawal, fund manager with Axis AMC, has been terminated with effect from May 20, 2022. Consequently, he ceases to be a key person of Axis AMC," said the fund house said in an addendum.

Axis AMC didn’t cite any reason for the termination. Earlier this month, the fund house had suspended both Agarwal