Nuvama Receives SEBI Approval to Launch Mutual Fund Business

By Milan Rojan

Nuvama Wealth Management has received final approval from the Securities and Exchange Board of India (SEBI) to launch its mutual fund business, marking a significant expansion of the company’s integrated wealth and asset management platform.

The mutual fund operations have been established through Nuvama Asset Management Limited, a wholly owned subsidiary of Nuvama Wealth Management. The company has said it will initially focus on products under SEBI’s Specialised Investment Fund (SIF) framework before gradually expanding its product suite.

The approval has strengthened Nuvama’s presence across the investment and wealth management ecosystem as the company continues to broaden its range of offerings for retail, affluent and high-net-worth investors. Nuvama has stated that the new business will complement its existing wealth management, asset management and capital markets operations.

According to the company, the launch forms part of its strategy to build a scaled and diversified asset management franchise in India’s growing investment market. The move has come as investor participation in mutual funds continues to increase, supported by rising awareness of long-term investing and greater adoption of systematic investment plans.

Ashish Kehair, Managing Director and Chief Executive Officer of Nuvama Group, said, “SEBI’s approval to establish our mutual fund business is another important building block in Nuvama’s integrated wealth and asset management platform. Our investment expertise, distribution reach and strong client base position us well to scale a distinctive asset management business.”

Nuvama has indicated that its established distribution network, investment capabilities and client relationships will support the growth of the new venture. The company has also highlighted its focus on delivering investment solutions tailored to the evolving needs of investors across market segments.

The regulatory approval has represented a key milestone in Nuvama’s expansion strategy and has positioned the company to participate more directly in India’s mutual fund industry through a dedicated asset management platform.