Axis Mutual Fund against fake Telegram channels

Axis Mutual Fund warned investors not to contact scammers using the company’s name on social media platforms such as Telegram.

“The conmen are misinterpreting to the general public that they are affiliated or affiliated with the Fund by employing the trademark AXIS MUTUAL FUND and the logo, which are owned by the business and/or its affiliated companies unlawfully and without permission,” the private mutual fund company said in a public advisory.

The MF also offered a list of bogus and official channels, declaring that this is not an exhaustive list.

Axis Mutual Fund

The following are the fake Telegram channels that have come to our attention so far:

@Axismutualfund_investment – 2,686 subscribers

@AxisMutualFund – 117 subscribers

@axismutualfund123 – 2 subscribers

@AXISMUTUALFUNDLTD – 17 members

@axismutualfund12

@Mutual_Fund_Investments – 9491 members

@moneydoubler23 – 387 members

In December, the capital market regulator SEBI urged asset management firms to remain vigilant and monitor social media platforms for Telegram groups that misrepresent themselves as registered mutual funds or use mutual fund names inappropriately. This resulted in Axis MF’s advice.

According to a letter from the Securities and Exchange Board of India to fund houses, definite dubious groups have been observed on the messaging app Telegram to use the names of mutual funds in deceptive or false ways.