Emkay Global gets approval to launch mutual fund biz

Emkay Global Financial Services has received in- principle approval from the capital markets regulator to launch its mutual fund business in India. The mutual fund industry manages assets of ₹40 lakh crore with as many as 42 players.

Last month, Bajaj Finserv got the final approval to launch its mutual fund schemes. Few other players like Zerodha, Helios Capital, Angel One, Old Bridge Capital have already got in-principle approval from the Sebi.

Founded in 1995, Emkay offers a range of financial services like institutional equities, PMS, private wealth management, investment banking and retail broking services.

– Our Bureau

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