Beware! Axis Mutual Fund lists fake Telegram channels using its name

Axis Mutual Fund shared a list of fake channels and official channels, while noting that this is not an exhaustive list. (Representative image)

Axis Mutual Fund on February 9 released a list of fake handles on social media platforms such as Telegram that are using the company's name, and cautioned investors against dealing with these fraudsters.

In a public advisory, the private mutual fund company said: "The fraudsters are misrepresenting to the general public that they are associated or affiliated with the Fund by illegally and without authorization, using the trademark AXIS MUTUAL FUND and the logo , which are owned by the company and/or its affiliates."

Further, the MF shared a list of fake channels and official channels, while noting that this is not an exhaustive list.

@Axismutualfund_investment - 2,686 subscribers

@AxisMutualFund – 117 subscribers

@axismutualfund123 – 2 subscribers

@AXISMUTUALFUNDLTD – 17 members

@axismutualfund12

@Mutual_Fund_Investments - 9491 members

@moneydoubler23 – 387 members

@AXIS_MUTUAL_FUND_INVESTMENT – 81 subscribers

@AXIS_MUTUAL_FUND – 85 subscribers

"Neither the Company nor the Fund owns or operates any group or channel on the Telegram app," the MF said. It said the company’s social media presence is limited to channels listed below:

Source: Axis Mutual Fund

Axis MF's advisory comes after capital market regulator SEBI had in December asked asset management companies to be vigilant and monitor social media platforms to identify Telegram groups that pass themselves off as registered mutual funds or misuse the names of mutual funds.

Certain dubious groups have been observed on Telegram, a messaging app, with misleading or misrepresenting names of mutual funds, the Securities and Exchange Board of India said in a letter to fund houses. Moneycontrol has reviewed a copy of this letter.