New Delhi, Portfolio management firm Unifi Capital on Tuesday said it has received in-principle approval from capital markets regulator Sebi to set up a mutual fund house. The company applied with the Securities and Exchange Board of India (Sebi) in December 2020 for a mutual fund license.
“Our mutual fund will enable us to go deeper and broader, bringing our investment products to the full spectrum of investors for the first time. What excites our team most is not only having larger assets, but the opportunity to make a mark as a top performer; that is what we would continue to establish with investors,” Sarath Reddy, Founder of Unifi Capital, said in a statement.
Earlier this week, Unifi received Sebi’s in-principle nod to start work on its mutual fund, the statement noted.
Founded in 2001, Unifi Capital currently manages over Rs 20,000 crore on behalf of approximately 10,000 Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) clients across 22 states in the country.
In September, Old Bridge Capital Management, a portfolio management firm, received final approval from the capital markets regulator to launch mutual fund operations under Old Bridge Mutual Fund. Before that, Helios Capital, which is also in the business of portfolio management services, got Sebi’s nod for mutual fund businesses.
Additionally, second-hand firm Zerodha gets Sebi’s nod to set up a mutual fund business.
(tagsTo Translate)sebi s