MUMBAI: Kenneth Andrewwho left IDFC MF eight years ago to start a fund management company for wealthy investors is re-entering the mutual fund world.
Andrade’s Old Bridge Capital has received regulatory approval to launch a fund company in an already crowded space where Bajaj Finserv and Zerodha recently entered. Jio Blackrock is also preparing for a launch soon. Recently, Helios Capital, founded by fund manager Samir Arora, also received a Sebi nod to enter the mutual fund industry.
The recent regulatory approvals for mutual fund launches would bring the total number of fund houses to nearly 50, with SBI MFICCI Prudential MF and HDFC MF are leaders in assets under management.
Andrade’s Old Bridge Capital has received regulatory approval to launch a fund company in an already crowded space where Bajaj Finserv and Zerodha recently entered. Jio Blackrock is also preparing for a launch soon. Recently, Helios Capital, founded by fund manager Samir Arora, also received a Sebi nod to enter the mutual fund industry.
The recent regulatory approvals for mutual fund launches would bring the total number of fund houses to nearly 50, with SBI MFICCI Prudential MF and HDFC MF are leaders in assets under management.
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