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Financial services company Nuvama Wealth Management Ltd has secured approval from markets regulator Sebi to set up its proposed mutual fund business. In a stock exchange filing, Nuvama Wealth Management informed that "Sebi vide a letter dated October 1, 2025, has granted approval to the company to act as the sponsor and set up the proposed Nuvama Mutual Fund". This will enable Nuvama Wealth Management to launch schemes under mutual fund including Specialized Investment Fund category. The final approval for registration of mutual fund will be granted by Sebi subject to fulfilment of certain requirements by the company. In January, the company had informed stock exchanges regarding the application to be made to Securities and Exchange Board of India (Sebi) seeking approval to act as the sponsor for Nuvama Mutual Fund.
ITI Mutual Fund aims to reach Rs 1 lakh crore AUM in the next five years, as an increasing number of people are choosing mutual funds through systematic investment plans. ITI MF's asset under management (AUM) increased nearly 2.4 times to Rs 8,791 crore in July 2024 from Rs 3,698 crore in March 2023. Mayukh Datta, chief business officer of the AMC, said the mutual fund industry has about 4.80 crore unique PAN investors. It currently has 9.34 crore live SIP accounts with Rs 13.09 lakh crore in the AUM. He further said that as of March 31, 2024, there were 74.67 crore PAN holders in India, and 60.5 crore PAN were Aadhaar-linked. "So, we are yet to have 10 per cent of the investible population, i.e. PAN card holders, yet to come to the mutual funds universe. There is enough of runway for new investors to enter the mutual fund industry," Datta said in an interaction with PTI. He further said India remains in a golden spot on the world map, with expected growth outpacing most global ..
Asset management companies (AMCs) floated 185 new fund offerings mobilising Rs 66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year, amidst growing interest of retail investors and significant uptrend in broader markets. This was higher than Rs 62,342 crore garnered by AMCs through 253 New Fund Offerings (NFOs) in 2022-23. "The financialisation of savings in India is currently underway, signifying a growing recognition among investors that investing in financial assets is integral to building wealth. With income and expenditure levels rising constantly, there is a heightened need to channel monthly savings into avenues offering higher returns. The substantial inflow of investments into equities underscores a notable shift in investor attitudes and risk appetites," FYERS Research said in its report. As India's growth narrative gains momentum and investment opportunities expand, many unlisted companies seek capital market support. This trend bodes well for .