ASK Asset & Wealth Management Group, backed by Blackstone, has received in-principle approval from SEBI to launch its mutual fund business. The move expands ASK’s portfolio beyond wealth management, PMS, and alternative investments, enabling it to offer research-driven mutual fund solutions to retail investors and strengthen its presence in India’s asset management industry.
ASK Asset & Wealth Management Group has secured SEBI’s in-principle approval to enter the mutual fund space, marking a significant milestone in its growth journey. The company, already established in portfolio management services (PMS), alternative investments, and wealth advisory, will now expand into retail-focused mutual funds.
The new venture aims to deliver research-driven, transparent, and investor-centric fund offerings, complementing ASK’s existing suite of investment solutions. Industry experts note that this move positions ASK to compete with established mutual fund houses while leveraging its strong brand reputation in wealth management.
The company will now work toward fulfilling SEBI’s final requirements before officially launching its mutual fund products.
Key Highlights:
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Approval: SEBI grants in-principle nod for mutual fund business.
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Backing: ASK is supported by global investment firm Blackstone.
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Expansion: Adds mutual funds to PMS, AIFs, and wealth advisory services.
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Focus: Research-driven, transparent, investor-centric fund offerings.
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Strategic Impact: Strengthens ASK’s footprint in India’s asset management industry.
This development underscores ASK’s ambition to become a comprehensive investment solutions provider, catering to both high-net-worth clients and retail investors.
Sources: The Economic Times, Business Standard, Moneycontrol