Mutual Fund Market: Three new players to launch mutual fund business will launch their MF business in the coming months
Mumbai: SEBI data shows that three new players will launch their MF business in the coming months. These include Capitalmind Financial, Jio BlackRock and Pantomath Capital Advisors.
All the three players have already received an in-principal approval. In fact, Capitalmind Financial has received a final approval to launch schemes while the other two await the same.
While the management of Jio Blackrock could not be reached till the time of writing this article, Cafemutual talked to the senior management of the other two players to know what investors and distributors can expect from them.
Deepak Shenoy, Founder, Capitalmind Financial Services said that the newly approved fund house is planning to launch active equity schemes first and then venture into debt and hybrid asset classes. He shared that Capitalmind also plans to use its quantitative, data-led approach for stock selection, which the company uses in their PMS and AIF schemes. The AMC manages assets of over Rs. 2,000 crore in PMS and AIF business.
Prasanna Pathak, Managing Partner, Pantomath Capital Advisors said that the AMC is planning to launch a flexi-cap fund first after receiving the final approval. The AMC also plans to launch a liquid fund and a few hybrid funds like balanced advantage and multi-asset allocation fund. The fund house also has a long-term plan of entering SIFs due to its background in PMS and AIFs.
Currently, Pantomath Capital is managing Rs. 4000 crore under three private equity Cat II AIFs and a PMS scheme of Rs. 250 crore. Prasanna plans to give the industry a flavor of private equity style fund management in mutual funds and expressed hope that this would give them an edge over other AMCs.
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