Investment Professional Intelligence — Pawan Jhangiani | Assistant Fund Manager | Axis Mutual Fund | Arbitrage & Equity Trading | India

Mr. Pawan Jhangiani will be designated assistant fund manager of Axis Arbitrage Fund

at Axis Mutual Fund, effective October 21, 2026, while continuing in his role as Dealer/Trader at the firm. He will jointly manage Axis Arbitrage Fund alongside Mr. Devang Shah and Mr. Sachin Jain.

About Axis Arbitrage Fund

Axis Arbitrage Fund is an open-ended mutual fund scheme that seeks to generate returns by investing in arbitrage opportunities in the cash and derivatives segments of the equity market. The strategy aims to capture price differentials between cash-market equities and their corresponding futures contracts, with limited exposure to market-direction movements.

The fund follows a hedged investment approach, investing at least 65% in hedged equities, as described in the scheme information provided. Its strategy is designed to pursue relatively low-volatility returns through arbitrage opportunities rather than relying primarily on market direction.

Launched on August 14, 2014, the fund uses the Nifty 50 Arbitrage Index as its benchmark. It may be considered by investors seeking income over the short to medium term or exposure to equity-market arbitrage strategies. Investors should review the scheme documents and consult a financial adviser to determine whether the fund is suitable for their financial goals and risk profile.

About Mr. Pawan Jhangiani

Jhangiani is an equity trader/ dealer at Axis Mutual Fund, where he has been responsible for equity and derivatives trading since June 2016. His responsibilities include executing cash market trades through voice and Direct Market Access (DMA) channels, trading directional equity futures and options across equity and hybrid schemes, and implementing arbitrage strategies for arbitrage and balanced schemes. He also handles exchange-traded fund transactions, regulatory and internal reporting, and coordination with operations and compliance teams.

Previously, Jhangiani was a dealer at ICICI Prudential AMC in the mutual fund segment, following an earlier role as Assistant Manager in its Portfolio Management Services (PMS) division. His experience covered equity and derivatives execution, algorithmic trading strategies, US market transactions through DMA, trade allocation, broker coordination, and regulatory reporting.

Earlier in his career, Jhangiani was an officer at ICICI International, LTD in Mauritius, where he supported debt, feeder and equity funds advised by ICICI Prudential AMC. His responsibilities included fund dealing, performance updates and fact sheets, corporate actions, foreign exchange bookings, product launches, distributor coordination, and presenting market updates at quarterly board meetings. He began his career in portfolio management services at ICICI Prudential AMC and subsequently worked at Sharekhan, LTD, executing equity and derivatives orders for retail clients and providing market updates and investment-related insights.

Jhangiani holds a Master of Finance (MFM) from IES College (‘15), his professional expertise includes capital markets, trading, portfolio management, equities and derivatives.

About Mr. Devang Shah

Mr. Shah is the head of fixed income, overlook multi-asset and arbitrage strategies, and a fund manager at Axis Mutual Fund. His responsibilities include portfolio performance, investment strategy, product development, client relationship management and growing assets under management. He was also a co-head of fixed income at Axis Mutual Fund (May 2021-April 2024), a deputy head of fixed income (June 2018-May 2021), and a senior fund manager – Fixed Income (October 2012 to May 2018) at the firm.

Prior to that, he was a fund manager at ICICI Prudential AMC, LTD (March 2008-September 2012). Before that, Shah was a senior manager at Deutsche Asset Management (2006-2008).

Prior to that, he was an assistant manager at Price Waterhouse Coopers.

About Mr. Sachin Jain

Jain is a fixed income senior fund manager at Axis Mutual Fund. He joined the firm as a dealer fixed income in July 2017 and assumed his current role in June 2024. Jain was also a fund manager (November 2021-June 2024) and an assistant fund manager (September 2020-November 2021) at the firm.

Previously, he was a fixed income trader at Sundaram Mutual Fund (June 2013-July 2017). Prior to that, Jain worked at I-Cap (November 2010-May 2013) and at Sunidhi Securities and Finance LTD (November 2009-November 2010).

Jain holds a BTech in Electrical and Electronics from COER University (‘07) and completed the advanced general management program from the Indian Institute of Management Ahmedabad (‘21).

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