Nuvama Receives SEBI Approval for Mutual Fund Business
Nuvama Wealth Management Ltd has received final approval from SEBI to launch its mutual fund operations. Nuvama Asset Management Limited will act as the Asset Management Company, and Nuvama Mutual Fund Trusteeship Services Limited will be the Trustee. The company plans to initially launch investment products under the Specialized Investment Fund (SIF) framework, followed by broader mutual fund offerings. This move expands Nuvama's integrated wealth and asset management platform, leveraging its existing ₹4.5 trillion in client assets and extensive client base.
Key Highlights
- SEBI grants final registration certificate for Nuvama Mutual Fund.
- Nuvama Asset Management and Nuvama Mutual Fund Trusteeship to manage operations.
- Company to launch Specialized Investment Funds initially.
- Expansion strengthens Nuvama's integrated wealth and asset management platform.
Price Impact
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