Zerodha gets in-principle approval to launch mutual fund, says Nithin Kamath


PTI, Sep 2, 2021, 9:46 AM IST

Image posted on Twitter

 

Broking firm Zerodha has received in-principle approval from capital markets regulator Sebi to set up an asset management company, its founder and CEO Nithin Kamath said on Wednesday.

“So, we just got our in-principle approval for our AMC (MF) license. I guess now comes the hard part,” Kamath tweeted.

In February last year, Zerodha had applied for a licence to start mutual fund operations.

The brokerage house has joined entities like Samco Securities and Bajaj Finserv that received Sebi’s go-ahead to launch mutual fund operations.

The approval came after the Securities and Exchange Board of India (Sebi) had allowed fintech firms to enter the mutual fund business.

Besides, companies including Frontline Capital Services, Wizemarkets Analytics, Unifi Capital, Alchemy Capital Management and Helios Capital Management Pte Ltd are also eyeing an entry into the MF space. These companies have already approached Sebi for a mutual fund licence.

At present, 44-mutual fund houses manage assets to the tune of over Rs 35 lakh crore.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

World Bunts Summit to be held in Mumbai on December 7

SC dismisses PIL seeking CBI probe into Tirupati laddus row

Salman Khan gets another threat; message sent to Mumbai traffic police helpline

SC overrules 1967 verdict holding AMU can’t be minority institution

BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news

Egg distribution scheme for school children under scrutiny over alleged mismanagement

India Post M’luru division to offer doorstep service to pensioners for Jeevan Praman certificate

Related Articles More

Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision

SC orders liquidation of grounded air carrier Jet Airways’ assets

Home-cooked meals become dearer in October on costlier vegetables

Sensex, Nifty surge over 1 pc on heavy buying in IT stocks as Trump set to win US polls

Das says incoming data on GDP growth mixed but positives outweigh negatives

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

World Bunts Summit to be held in Mumbai on December 7

SC refuses to examine plea to appoint ‘yoga mitra’ instructors in schools

Maha Vikas Aghadi a vehicle sans wheels and brakes: PM Modi

LDF lodges complaint with EC, seeks probe into distribution of food kits in Wayanad

SC dismisses PIL seeking CBI probe into Tirupati laddus row

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.