It is a joint venture between one of the largest Public Sector Banks in India, the Bank of India or BOI, and the AXA Investment Managers group, one of the world’s largest asset management and investment corporations. Although smaller in terms of Assets under Management or AUM, BOI AXA Mutual Fund has grown from strength to strength over the past few years.
About Bank of India
Bank of India is well over a century old now. It was started by a group of like-minded businessmen in Bombay, the financial capital of British India unlike Calcutta, on September 7, 1906. It began its journey as a private bank. In the bank nationalisation drive in 1969, it was taken over by the government alongside 13 other banks.
Bank of India had very humble origins, much like most other establishments around that time. It had an initial paid up capital of Rs 50 Lakh and used to employ 50 people initially. Over the years, the bank has grown at a rapid pace and now has a significant presence across each of India’s states and Union Territories. Bank of India currently has over 5000 branches all over the country. It also has 8 NBG offices spread over India and a total of 54 zonal offices too.
The first time the Bank of India had an initial public offering or IPO was in 1997, earlier than most major financial institutions of the country. In February 2008, BOI became one of the first banks to offer a Qualified Returns Placement.
What sets Bank of Baroda apart from many other banks is its long association with the spread of technology in banking and general macroeconomic circumstances. BOI was one of the pioneers behind the payments system called SWIFT, which was the backbone of all payments system in India.
In 1989, Bank of India had another pioneering effect when it introduced a fully computerised bank branch and an ATM at the Mahalakhsmi branch in Mumbai. In 1989, there were no banks which had their personal ATM services.
In 1982, BOI had decided to adopt the Health Code System, a measure designed to rate the health of credit. BOI management has never faced serious scrutiny due to excellent banking standards, a robust checks-and-balances system, and significantly good quality of credit, BOI was one of the few banks which managed to emerge from the 2008 financial meltdown relatively unscathed.
BOI remains one of the foremost financial institutions across the world too, with 60 offices spread across 5 continents. BOI also has a decent presence across the pre-eminent financial capitals of the world including Berlin, Paris, Tokyo and London.
Bank of India AXA Mutual Fund is known for a wide range of packages and superior returns.
About AXA
The latest available financial data reveals that AXAIM has AUM of more than EUR 730 billion till the last day of 2018.
AXA is a French major located in the 8 arrondissement.
AXA’s IM offshoot was founded in 1994. AXA specialises in financial management and protection. AXA IM is, likewise, a market leader in assets management.
Their Investment Managers also excel at providing insurance services to both retail and corporate customers. Family funds, pension services, family offices and traditional wealth management practices are all covered by AXAIM.Together with BOI, it has managed to make an impact on Mutual Funds in India.
Both the giants have also joined hands to work as trustees for the Mutual Funds business.
Key information
- 1. Mutual fund
- a. BOI AXA Mutual Fund
- 2. Asset management company
- a. BOI AXA Trustee Services Private Limited
- 3. Set up
- a. 31/3/2008
- 4. Incorporated
- a. 13/08/2007
- 5. Sponsors
- a. Bank of India and AXA Asset Management
- 6. Name of trustees
- a. Mr. Ravi Gupta
- b. Mr. Sumant Chadha
- c. Mr. Raghu Palat
- d. Mr. Simon Lopez
- e. Mr. A.K. Bhargava
- f. Mr. S.A. Bhat
- 7. Trustee
- a. BOI AXA Trustee Services Private Limited
- 8. MD and CEO
- a. Sandeep Dasgupta
- 9. CIO
- a. Alok Singh
- 10. Investor Service Officer
- a. N. Chandrasekaran
- 11. Compliance Officer
- a. Alok Singh
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Top Fund Managers
1. Mr. Bruno Guilloton
Mr. Guilloton is the incumbent CEO of the BOI AXA Mutual Fund division. He has been involved with the AXA-BOI joint venture in the Asia Pacific region now for more than 10 years. He was previously the Head of Equities of the AXA Assets Management section as well as the Global Head of Internal Audit at AXA IM later on. He was also with the Banque Indosuez and has worked with Indosuez Asset Management, where he was the Joint in-charge of Equity Management.
2. Mr. Robert Sherlock
He has extensive experience in Risk Assessment and minimising it from his previous capacities at AXA’s worldwide operations where he was the Internal Audit Manager and Risk Officer.Mr. Sherlock is a highly feted Chartered Accountant who has also worked with KPMG in their offices at London and Hong Kong.
3. Mr. Devender Paul Sharma
He has been with the Bank of India family for over 37 years now. Mr. Sharma has years of extensive experience in many disciplines including Retail and NBG banking, HR, International Banking and Corporate Banking. He is currently attached to the headquarters of BOI in Mumbai as the head of Customer Excellence, PR, Marketing and Resource Mobilisation.
4. Mr. Ajit Kumar Mishra
Mr. Mishra joined the BOI family in 1984 and is now the General Manager of BOI. He has worked for more than 5 years at the Banker’s Training College and is a well-regarded professional with exposure to Economic Intelligence, Audits, Planning and Strategy.
5. Mr. Sudhir Chand
Mr. Chand is an Electrical Engineer from BITS Pilani who has served with Crompton Greaves and Exide in the past. His professional career spans more than 40 years. He is now an Independent Director of BOI AXA Mutual Funds and is also a visiting faculty member of IIM Calcutta.
He is one of the towering figures of the HR revolution in India as well.
6. Mr. Sanjay Gupta
Mr. Gupta first made his name with American Express, a Fortune 50 company, where he was a very senior executive. He has also headed AMEX in India. Under his inspirational leadership, Mr. Gupta led to India’s first global operations centre. He has also served in several high-profile positions at a tractor major and a cola major in the past. He joined the Bank of India in 1996 and has since risen to become an Independent Director of the JV between BOI and AXA that led to the incorporation of the BOI AXA Mutual Fund.
Mr. Gupta is also regarded widely in academic circles. He is a guest faculty at Duke University Corporate Education and the Global CEO of English Helper.
BOI AXA Ultra Short Duration Fund Growth
Fund Objective: The Scheme seeks to deliver reasonable market related returns with lower risk and higher liquidity through a portfolio of debt and money market instruments.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 8.44% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Small Cap Fund Growth
Fund Objective: The scheme seeks to generate long term capital appreciation by investing predominantly in equity and equity-related securities of small cap companies.
Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Manufacturing & Infrastructure Growth
Further, there can be no assurance that the investment objectives of the scheme will be realized. Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -13.36% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Tax Advantage Growth
The investment performance will be benchmarked against S&P CNX Nifty Index However there can be no assurance that the investment objectives of the Scheme will be realized.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -7.6% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Liquid Fund Growth
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 7.18% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Large & Mid Cap Equity Fund Growth
The Scheme is not providing any assured or guaranteed returns. The investment performance will be benchmarked against S&P CNX Nifty Index However there can be no assurance that the investment objectives of the Scheme will be realized.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -10.15% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Short Term Income Fund Growth
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -13.11% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Conservative Hybrid Fund Growth
Fund Objective: The Scheme seeks to generate regular income through investments in fixed income securities and also to generate long term capital appreciation by investing a portion in equity and equity related instruments.However, there can be no assurance that the income can be generated, regular or otherwise,or the investment objectives of the Scheme will be realized
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -11.96% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
BOI AXA Mid & Small Cap Equity & Debt Fund Growth
Fund Objective: The Schemes investment objective is to generate capital appreciation and income distribution to investors from a portfolio constituting of mid cap equity and equity related securities as well as fixed income securities.However there can be no assurance that the investment objectives of the Scheme will be realized.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -16.61% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.
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