Choice AMC receives final approval from SEBI to launch mutual fund operations in India, starting with passive investment products like index funds and ETFs.
The regulatory clearance enables the Mumbai-headquartered Choice group to formally roll out its mutual fund operations, expand its offerings across the financial services spectrum, the company said in a statement.
Choice will now initiate operations of its AMC, with a strategic and phased rollout beginning with passive investment products such as index funds and exchange traded funds (ETFs), it added.
“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,” Choice International’s CEO Arun Poddar said.