- I have played with him and I am really proud of him: AB de Villiers on Sarfaraz Khan
- West Bengal govt seeks urgent listing of its suit against CBI probes in post-poll violence cases
- Army rushes to aid 500 tourists stranded after sudden snowfall in Sikkim
- Indian Navy provides medical assistance to Iranian fishing vessel
- Freed from circus, elephant Suzy celebrates nine years of freedom
- Will not shrink from countering any threat that undermines collective well-being: Rajnath
- Court takes cognisance of ED charge sheets against suspended CBI judge Sudhir Parmar
- iCreate, Microsoft, IT Ministry to skill 11K innovators, startups in AI in India
- LCA Tejas to get futuristic weapons, sensors; MoU inked
- India to have 3 to 4 chip fab plants in next 5 years: IT Minister at PhonePe event
Mahindra MF gets Sebi aproval
Mahindra Finance, a part of Mahindra Group, on Friday said its subsidiary Mahindra Asset Management Company Private Limited has received a license from market regulator Sebi to manage the Mahindra Mutual Fund.
Hyderabad: Mahindra Finance, a part of Mahindra Group, on Friday said its subsidiary Mahindra Asset Management Company Private Limited has received a license from market regulator Sebi to manage the Mahindra Mutual Fund.
The Mahindra Asset Management Company is now in the process of putting together its team, product portfolio and strategy for market entry, which will be announced in due course.
Ashutosh Bishnoi, the company’s Managing Director & CEO, however said that the focus of the mutual fund business would remain in the same markets where Mahindra Finance had been focusing.
“The semi-urban and rural markets will remain the priority for the Mahindra Mutual Fund. We believe that investors in these markets have an even greater savings potential than urban markets, but they do not have either the access or awareness of market related financial instruments such as mutual funds.
So our task will be to create access and awareness,” he explained. With the proven success and strength of the relationships that Mahindra Finance already has, we believe that we are well-poised to take this business forward in same markets, he added.
For Mahindra Finance, investment in the mutual fund business is a long-term bet. "We will adopt a developmental approach and build the mutual fund market in smaller towns and rural India.
Investments products are a subject of advised sales and require the support of trained advisors,” said V Ravi, Executive Director, Mahindra Finance and Chairman of Mahindra Asset Management.