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A day after Helios Mutual Fund, SEBI has given its final go ahead to Zerodha Mutual Fund, which will float its MF business in partnership with smallcase, announced Nithin Kamath, Founder and CEO, Zerodha on Twitter.
Nithin said that his company in partnership with smallcase has received final approval for Zerodha AMC. He said, “Our motivation to start a mutual fund was twofold. The first was that the biggest challenge and opportunity for Indian markets is the shallow participation. Even after all the growth over the last 3 years, we only have maybe 6-8 crore unique mutual fund and equity investors put together. The second was that if we had to bring in the next ten million investors, they needed simple products they could understand, and mutual funds were a perfect instrument. We aim to be index-only and create simple funds and ETFs that all investors can understand and invest in for all their goals.”
Interestingly, the fund house will only launch passive funds.
The fund house has appointed Vishal Jain as the CEO. In the past, Vishal has spearheaded passives business at Benchmark AMC, Goldman Sachs AMC and Nippon India AMC.
