Choice International Enters Mutual Fund Industry
Choice International's subsidiary Choice AMC received regulatory approval from Sebi to operate as an Asset Management Company. The Mumbai-based group aims to launch its mutual fund operations with a focus on passive investment products. This expansion strengthens its commitment to comprehensive financial services.
- Country:
- India
On Friday, Choice International announced that its subsidiary, Choice AMC, has obtained final approval from the Securities and Exchange Board of India (Sebi) to start functioning as an Asset Management Company. This milestone marks the company's entry into the mutual fund business.
The regulatory go-ahead allows the Mumbai-based Choice group to officially launch its mutual fund services, as it seeks to diversify its offerings in the financial services domain, the company confirmed in an official statement.
Initially, Choice AMC will focus on passive investment solutions like index funds and exchange-traded funds, in a strategic and phased strategy aimed at establishing a stable, scalable, and professionally managed asset management business under a robust regulatory and governance framework, according to CEO Arun Poddar.
(With inputs from agencies.)
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