Schroders’ $32 Billion India Partner Faces Regulator Probe
- Sebi looking into alleged front-running in stocks by managers
- Axis Mutual Fund suspends two fund managers; internal probe on
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The Indian partner of global money manager Schroders Plc is under investigation by the country’s capital markets regulator for alleged front-running by two of its officials, according to people familiar with the matter.
The Securities and Exchange Board of India is scrutinizing funds that Viresh Joshi and Deepak Agarwal managed at Axis Asset Management Co., the people said, declining to be named as they aren’t authorized to speak to the media. Axis AMC is India’s seventh-largest asset manager with 2.5 trillion rupees ($32 billion) in assets.