Unifi Capital and Wizemarkets Analytics have applied to SEBI for mutual fund license. Both companies are SEBI registered PMS players.
Wizemarkets Analytics has applied under the relaxed profitability criteria to obtain MF license. According to the new SEBI norms, companies will have to maintain a minimum net-worth of Rs.100 crore till the time the AMC becomes profitable for 5 consecutive years.
So far, companies were required to be profitable for at least five years and maintain positive net worth for five years before applying for MF license.
Unifi Capital has been running PMS business for the last 19 years while Wizemarkets Analytics, owned by Capitalmind Wealth is in PMS business for the last six years.
SEBI website shows that Wizemarkets Analytics and Unifi Capital have applied for the MF license on December 29 and December 31, respectively.
