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Unifi Capital, a SEBI registered PMS player has received an in-principle approval to start MF business. The entity applied for an MF license in December 31, 2020 and it reportedly received the regulator’s primary nod earlier this week.
Talking about this development, Sarath Reddy, Founder of Unifi Capital was reported saying, “Our mutual fund will enable us to go deeper and wider, bringing our investment products to the full spectrum of investors for the very first time.”
He added, “What excites our team the most is not just having larger assets, but the opportunity to make a mark as an outstanding performer; that is what we would continue to stand for with investors.”
Notably, the MF industry has had a series of new entrants including Old Bridge Capital Management, Bajaj Finserv, Helios and Zerodha. Two more players Alpha and Wizemarkets have filed their applications and are awaiting approvals.
