Samco Securities, a discount brokerage firm has forayed into mutual fund distribution business and appointed Omkeshwar Singh as the Head of Mutual Fund Distribution Business.
Singh was the Head – Mutual Fund at BSE Star MF. He has played a key role in the growth of the platform, which currently boasts over 6200 distributors.
Sources privy to the development told Cafemutual that Kiran Nandavadekar has succeeded Singh to head the mutual fund business at BSE Star MF.
In a press release, the company said, “Samco Securities has recently ventured into mutual fund distribution business with a aim to capture a pie in this fast growing asset pool by distributing them in a cost efficient way. The company has appointed Singh to provide guidance and direction to this new business of the company through his expertise in the industry over the years.”
Singh comes with almost two decades of experience in the financial services sector with specialization in the mutual funds distribution business. Singh has worked with organisations like BSE Ltd, ROMS Management Services, Anand Rathi, Net worth Stock Broking and Karvy Finance.
It is pertinent to mention that Samco Securities has applied for AMC license with SEBI to launch their mutual fund business.