Axis Bank to cater to family offices
In an attempt to capture the growing family office market, Axis Bank is planning to offer an all-inclusive service for India’s ultra-high-net-worth individuals or families with assets exceeding Rs100 crore ($22.5 million).
From private wealth management, including alternative investments, to healthcare and generational planning, Axis will charge a fee of 0.4-0.5% of assets under management. The bank said it is targeting 5-7% market share of family offices over the next three to five years.
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