“I am very pleased to share that Sebi has granted Helios Capital in-principle approval to sponsor Helios Mutual Fund. We deeply respect this approval & will work hard to offer mutual funds for retail investors, focusing on performance & service. Think Bullish,” the Singapore-based Arora tweeted.
Competition in the mutual fund business is set to intensify in India with new players eyeing the lucrative and fast-growing market which has assets under management of over Rs 37 lakh crore. Those willing to join the bandwagon include discount broking platform Zerodha, Alchemy Capital Management, Capitalmind and
Two new entrants – Samco and White Oak – have also recently started their MF business.
The net AUM for the Indian MF industry grew 7 per cent YoY at Rs 37.74 lakh crore in July. The number of mutual fund folios was at an all-time high of 13.55 crore.
Top mutual fund houses in India include
, Birla Sunlife MF and