7 days ago
Choice AMC receives SEBI license to commence mutual fund business
Synopsis
Choice AMC Private, a subsidiary of Choice International, has secured SEBI's final approval to operate as an asset management company for Choice Mutual Fund. This allows Choice Group to enter the investment management sector, expanding its financial services.
iStock Choice AMC Private has received final approval from SEBI to act as asset management company for the Choice Mutual Fund. Choice AMC Private, a wholly owned subsidiary of Choice International, has received final approval from the Securities and Exchange Board of India (SEBI) to act as asset management company for the Choice Mutual Fund. This milestone paves the way for the Group's formal entry into the investment management space, expanding its offerings across the financial services spectrum, according to a press release.
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With this regulatory greenlight, Choice will now initiate operations of its Asset Management Company, with a strategic and phased rollout beginning with passive investment products such as Index Funds and Exchange Traded Funds (ETFs). 'This approval marks a significant milestone in the expansion of our financial services portfolio and reinforces our long-term commitment to delivering comprehensive and accessible investment solutions. The mutual fund platform will initially focus on passive products, in line with our objective to build a stable, scalable, and professionally managed asset management business under a strong regulatory and governance framework,' said Arun Poddar, CEO of Choice International Ltd.
Backed by its Pan-India presence, strong governance framework, and technology-led distribution capabilities, Choice Mutual Fund aims to bridge the gap between traditional financial advice and modern investment products. The company intends to serve retail, emerging affluent, and institutional segments through accessible products that deliver long-term value. This represents a natural progression in Choice's long-term strategy to empower investors with a broader, more modern set of tools to achieve their financial goals—be it through goal-based investing, SIPs, or broad-market index passive investing gains traction globally and in India, Choice Mutual Fund's entry reinforces the Group's vision of democratizing access to quality financial products and building a future-ready investment ecosystem.
Also Read | Wealth creators: 12 equity mutual funds turn Rs 10,000 SIP to over Rs 10 crore since their inception Headquartered in Mumbai, Choice Group is a decade-old, diversified conglomerate offering services across finance, engineering, and consulting domains.
