Ashika Credit Capital Ltd has received SEBI approval to sponsor a mutual fund and will set up an asset management and trustee company. The move marks its entry into India’s ₹74 trillion mutual fund industry, strengthening its financial services portfolio and positioning it for growth in the investment management space.
Ashika Credit Capital Ltd (ACCL), a leading non-banking financial company (NBFC) specializing in investment and capital market activities, has announced that it has received approval from the Securities and Exchange Board of India (SEBI) to act as a mutual fund sponsor. The company will establish an asset management company (AMC) and a trustee firm to oversee operations, marking a significant diversification into India’s fast-growing mutual fund industry.
Key Highlights
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SEBI Approval: ACCL has secured regulatory clearance to sponsor a mutual fund, a critical step toward entering the asset management space.
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New Entities: The company will set up an AMC and trustee company to manage and safeguard investor interests.
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Industry Context: India’s mutual fund industry, valued at over ₹74 trillion, is witnessing new entrants, reflecting strong investor appetite for managed investment products.
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Strategic Impact: The move positions ACCL to expand its financial services portfolio, tapping into retail and institutional investor demand.
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Leadership: Industry veterans have joined Ashika’s initiative, strengthening its credibility and operational expertise.
This development underscores Ashika Credit Capital’s ambition to evolve from an NBFC into a diversified financial services player, aligning with India’s growing investment ecosystem.
Sources: SMEStreet, Cafemutual, Rediff Money