Listen to this article
Three new players—Marcellus Investment Managers, Nuvama Wealth Management, and Wealth First Portfolio Managers—have recently applied to SEBI for a mutual fund license.
Marcellus Investment Managers submitted its application on January 30, while Nuvama Wealth and Wealth First applied on February 10 and January 20, respectively.
Saurabh Mukherjea’s Marcellus Investment Managers is one of the largest PMS companies in India. As of December 2024, the company managed assets worth Rs.6,700 crore under its PMS business.
Nuvama Wealth also operates PMS and AIF strategies. As of December 2024, its PMS AUM stood at Rs.5,800 crore. Additionally, the company runs a mutual fund distribution business with Rs.4,510 crore in assets under distribution as of March 2024.
Interestingly, Wealth First Portfolio Managers is an Ahmedabad-based boutique MFD firm led by Ashish Shah. As of March 2024, it managed Rs.3,262 crore in mutual fund assets.
