While the MF industry’s AUM continues to reach all time high, new players are evincing interest in mutual fund business.
Alchemy Capital is co-founded by Rakesh Jhunjhunwala. The PMS company has provided its advisory services to $893 million (as on 31st December 2020) worth of group assets. The company applied for an MF license on January 1, 2021.
Helios Capital is another PMS player that has applied to SEBI for an MF license on February 25, 2021. Helios Capital is a Singapore based company co-founded by Samir Arora.
Apart from these two, SEBI is processing requests of seven other players. Discount brokerage firm Samco Securities and MF distribution firm, NJ India have already received in-principle approval from SEBI.
Applications from Zerodha Broking, Frontline Capital Services, Bajaj Finserv, Wizemarkets Analytics and Unifi Capital are also being reviewed by SEBI.
