Capitalmind Financial Services receives SEBI approval to launch mutual fund business.

Capitalmind Financial Services, a Bengaluru-based investment management firm, received in-principle approval from market regulator SEBI to launch a mutual fund business. Managing over Rs 2,200 crore AUM for 1,150 clients, Capitalmind aims to establish Capitalmind Asset Management Company to finalize SEBI requirements. India's mutual fund market has substantial growth potential, with only 4.5 crore unique investors among 74.6 crore PAN cardholders.

August 26, 2024
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