Helios Capital Management has received final approval from capital markets regulator Securities and Exchange Board of India (SEBI) to launch a mutual fund (MF) house, its founder Samir Arora said on platform X, formerly Twitter. Helios had applied for a mutual fund licence with SEBI in February, 2021 and was granted an in-principal nod last September.
“I am very happy to announce that SEBI has granted approval to Helios Mutual Fund. We need your wishes and support to make this new venture a success,” Arora said on Thursday, August 10.
Helios Capital Management, a portfolio management service founded in 2005, is a Singapore-based asset management company managing India-focused long/short and long-only fund/mandate and a global Long Only equity fund.
Zerodha Broking Limited and Old Bridge Capital Management are also waiting for final approval from SEBI to launch a mutual fund house. Brokerage firms AngelOne and Emkay Global Financial Services had also received in-principle approvals from SEBI for mutual fund business, according to a Moneycontrol report.
Reportedly, there are at least 3 companies - Unifi, Alpha and Wizemarkets whose applications for a mutual fund licence is under consideration.
In its monthly report for July 2023, the Association of Mutual Funds in India (AMFI) said that mutual fund folios have reached an all-time high of over Rs 15 crore The total assets under management stood at Rs 46.37 lakh crore versus Rs 44.39 lakh crore (MoM),
Systematic Investment Plan (SIP) inflows, meanwhile, reached a new record high in July. SIP inflows stood at Rs 15,242.7 crore during the month under review. The AUM under mutual fund SIPs was Rs 8.32 lakh crore in July, against Rs 7.93 lakh crore in the previous month.
