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Kenneth Andrade’s PMS company Old Bridge Capital Manager has received in-principal approval from SEBI to launch mutual fund business.
Kenneth has worked with IDFC Mutual Fund and Kotak Mahindra MF before venturing into PMS business. Last year, Sameer Arora’s Helios Capital also received in-principal approval from SEBI.
Other players who received in-principal approval but yet to start MF business were Bajaj Finserv and Zerodha Broking.
In another development, Alpha Alternatives Fund has applied for MF license with SEBI in November 2022. Alpha Alternatives runs a multi-asset alternative asset management platform. It currently offers credit funds, value fund and quant funds through its platform.
There are several factors that have resulted in the enhanced interest in the mutual fund business in the past few years. One is the projections of huge growth in the future given the under-penetration at present
