New Launch27 Mar 2026, 09:19 am
SEBI Grants Final License to Wealth First Subsidiary, Lakshya Asset Management, to Launch Mutual Fund Business
AI Summary
Lakshya Asset Management Company (Lakshya AMC), a subsidiary of Wealth First Portfolio Managers Ltd., has received approval from the Securities and Exchange Board of India (SEBI) to commence its mutual fund business. The new AMC is led by the founding team of Benchmark AMC, pioneers of Exchange Traded Funds (ETFs) in India. Lakshya AMC is the first asset management company to be headquartered in Ahmedabad, reflecting a broader shift towards building financial institutions beyond traditional metro hubs.
Key Highlights
- SEBI grants final license to Wealth First subsidiary, Lakshya Asset Management, to launch mutual fund business
- Lakshya AMC led by founding team of Benchmark AMC, pioneers of ETFs in India
- First asset management company to be headquartered in Ahmedabad
- Wealth First Portfolio Managers Ltd., a publicly listed wealth management company, is the sponsor
- Lakshya AMC aims to design investment solutions that solve real-world investment challenges and simplify investing for a wide range of investors