India's largest MF distributor NJ India Invest has received SEBI’s final go ahead to launch mutual fund business in India— NJ India Mutual Fund.
"We are happy that SEBI has approved our application. NJ India has contributed to the growth of the industry as a distributor and we are confident that we will be able to add value as a participant as well," said Rajiv Shastri, CEO of NJ India Mutual Fund.
Shastri said NJ India MF will be the first fund house in the country that will exclusively run rules-based investing schemes.
The fund house is yet to apply for SEBI's approval for launching a mutual fund scheme.
Headquartered in Surat, NJ India Invest is India's largest mutual fund distributor. The company was started by Neeraj Choksi and Jignesh Desai in 2003.
