SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • MF News Mahindra & Mahindra Finance gets SEBI nod to launch AMC business

    Mahindra & Mahindra Finance gets SEBI nod to launch AMC business

    M&M AMC expected to launch products by the first quarter of FY 2016-17.
    Nishant Patnaik Feb 6, 2016

    Mahindra & Mahindra Finance, one of the largest mutual fund distributors, has got SEBI approval to float an asset management business in India, said a senior official from the fund house on the condition of anonymity.

    The company has received approval from the market regulator on February 04. The senior official said that the company is likely to

    The company had started working on setting up an AMC business almost a year ago. In fact, the company is said to have appointed Ashutosh Bishnoi as the Chief Executive Officer. Bishnoi has over 30 years of experience in financial services. He has held key positions at DSP Merrill Lynch, UTI MF, JM Financial MF, HSBC Investments, Kotak Life and was the CEO of L&T Mutual Fund. Also, the company is said to have deputed V Ravi, Chief Financial Officer of Mahindra Finance and recruited Jatinder Pal Singh (ex-Executive Director of Morgan Stanley) in its senior management team.

    Another new entrant in the asset management business - Yes Bank is awaiting SEBI’s approval. The bank has already received RBI nod to set up an AMC. 

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.
    Cafemutual is an independent media platform and focuses on providing knowledge and information for the benefit of finance professionals. We do not promote any particular brand or asset category.