Angel One AMC Gets SEBI Nod To Start Mutual Fund Business Angel One AMC Gets SEBI Nod To Start Mutual Fund Business

The company plans to offer transparent and low cost solutions, aimed at simplifying wealth creation

“With this milestone, Angel One marks its entry into the asset management space, focusing exclusively on passive investment solutions” the stockbroking firm said in a filing today

Earlier this year, the company announced that it will launch a passive mutual fund and is in the final leg of setting up an AMC

Listed stockbroking firm Angel One’s wholly owned subsidiary Angel One Asset Management Company Ltd has received approval from the Securities and Exchange Board of India (SEBI) to act as the asset management company for Angel One Mutual Fund.

This move marks Angel One’s foray into the mutual fund space.

Earlier this year, the company announced that it will launch a passive mutual fund and is in the final leg of setting up an AMC.

“With this milestone, Angel One marks its entry into the asset management space, focusing exclusively on passive investment solutions” the stockbroking firm said in a filing today (November 26).

The company plans to offer transparent and low cost solutions, aimed at simplifying wealth creation.

“This licence enables us to augment our offerings and better serve our clients…Our focus on passive investing through ETF and index fund products reflects our commitment to making financial products more accessible, affordable and transparent for all,” said Dinesh Thakkar, chairman and managing director at Angel One Limited.

(The story will be updated soon)