Goldman Sachs Asset Management receives Sebi nod for MF operations

Goldman Sachs Asset Management L P(GSAM), has received regulatory approval from the Securities and Exchange Board of India (SEBI) to start a wholly-owned asset management and mutual fund business in India.

The approval has been granted to Goldman Sachs Asset Management Company (India), a subsidiary of The Goldman Sachs Group, Inc. (GSG, Inc.,), to act as the investment manager of the Goldman Sachs Mutual Fund. The senior management team appointed to spearhead the asset management operations of Goldman Sachs AMC in India is led by  Adam Broder as chief executive officer and Prashant Khemka as chief investment officer.