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Wealth First Portfolio Managers, an Ahmedabad-based boutique MFD firm led by Ashish Shah has received in-principle approval from SEBI to set up mutual fund business.
The fund house has applied for full fledged MF license i.e. it will launch active as well as passive funds.
Ashish Shah, Founder, Promoter and Managing Director, Wealth First Portfolio Managers Limited told Cafemutual that the company will keep its approach simple. He believes that the MF industry offers a lot of opportunities which are yet to be exploited and a lot of new players can fill this gap.
As of March 2024, Wealth First Portfolio Managers managed Rs.3,262 crore in mutual fund assets.
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