November 26, 2024

Angel One gets SEBI nod to enter mutual fund business

Posted By: ndeeney

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Angel One Asset Management Company has received SEBI’s approval to act as the asset management company for Angel One Mutual Fund which will focus exclusively on passive investment solutions.

Angel One Mutual Fund’s passive investment products such as index funds and exchange traded funds will be designed to offer clients a low-cost, transparent and accessible pathway to wealth creation, said the fintech company Angel One.

Dinesh Thakkar, Chairman and Managing Director, Angel One, said with a robust technological infrastructure and a deep understanding of client needs, Angel One MF will transform the passive investing space in India. The venture will empower a new generation of investors and enable them to participate in India’s growth story, he said.

ETFs and index funds

Hemen Bhatia, Executive Director and CEO, Angel One AMC, said as the asset management industry experiences rapid growth in passive investing, ETFs and index funds are increasingly being embraced by both retail and institutional investors.

The fund house aims to offer user-friendly, easy to understand wealth creating products to a growing base of retail investors across the country, he added.

Angel One AMC’s focus will be on developing a comprehensive suite of ETF and index fund products, designed to provide clients with diversified investment options that align with their investment preferences and risk profile.

It plans to leverage the existing digital infrastructure and wide distribution network of its parent and other partners to ensure seamless access to these investment products, it said.

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