 "Zerodha, Smallcase join hands for MF business, final nod from Sebi awaited")
Zerodha will operate its upcoming mutual fund business through a joint venture with fintech platform Smallcase, Nithin Kamath, CEO of the broking firm, said on Wednesday.
"While awaiting the final approval of our AMC (mutual fund), we asked if we should build it ourselves or collaborate. Given the six-plus years of experience that Smallcase has in building investment products, it made perfect sense to create a joint venture to build the AMC," Kamath tweeted.
Zerodha received in-principle approval to start a mutual fund business from the Securities and Exchange Board of India back in September 2021 and is awaiting the final approval.
Kamath said Smallcase's six years of experience in building investment products will come in handy for Zerodha while building "low-cost passive mutual fund products for India".
Smallcase is an investment platform that hosts ready-made baskets of stocks or ETFs on various themes and sectors.
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