Online stockbroker Zerodha will partner with wealth management company smallcase for their upcoming mutual fund business, Nithin Kamath, founder and chief executive officer at Zerodha, confirmed the same on Twitter. While awaiting final approval of our AMC (mutual fund), we asked if we should build it ourselves or collaborate. Given the 6+ years of experience that small case has in building investment products, it made perfect sense to create a joint venture to build the AMC, he said in his tweet.
Notbaly, Zerodha had gotten an in-principal approval for launching mutual fund business in September 2021.
"I'm super happy to announce that smallcase will help zerodha online build simple low-cost passive mutual fund products for India," Kamath tweeted.
Commenting on the development, Vasanth Kamath- CEO and founder at smallcase said, "Very excited to partner with Zerodha to help introduce a new generation of investors to mutual funds. The upcoming AMC will be a joint venture between Zerodha and smallcase and will use learnings and shared values from both companies to build an enduring fund house."
"The opportunity to increase capital market participation for retail investors is massive, and we believe that mutual funds will continue to accelerate this trend with the right mix of products, solutions & technology," he added.
Smallcase was founded in 2016 by Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta. The firm allows retail investors to invest in portfolios of broker-partner stocks and exchange-traded funds (ETFs).
First Published: Apr 12, 2023 4:14 PM IST
