Portfolio Management company, Unifi Capital, has received in-principle approval from the Securities and Exchange Board of India (SEBI) to launch mutual fund business in India. Unifi Capital, established in 2001 as a registered portfolio manager, currently manages over ₹20,000 crore on behalf of about 10,000 Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) clients across 22 states in India.

Live TV

Loading...

As per the status of mutual fund applications on SEBI’s website as on September 30, 2023, Unifi had applied for the mutual fund license on December 31, 2020.

“Our mutual fund will enable us to go deeper and wider, bringing our investment products to the full spectrum of investors for the very first time. Within the regulatory framework, we have more than enough space to offer differentiated investment strategies that mutual fund investors are yet to be served.” said Sarath Reddy, Founder of Unifi Capital.

In September, Old Bridge Capital Management, a PMS, received the final approval from SEBI to commence its mutual fund operations. Before this, Helios Capital Management, a PMS, received final approval from capital markets regulator to launch a mutual fund house in August.

Meanwhile, the equity mutual fund inflows surged to ₹19,932 crore in October 2023 versus ₹13,857 crore in September, as reported by the Association of Mutual Funds in India (AMFI). Small-cap funds registered an influx of ₹4,495 crore in October, compared to ₹2,678 crore in September, underlining the growing interest in smaller companies and their potential for growth. The category's Average Assets Under Management (AAUM) also crossed the significant milestone of ₹2 lakh crore for the first time in its history.