Daijiworld Media Network – New Delhi

New Delhi, Jun 10: Nuvama Wealth Management Ltd on Wednesday announced that it has received final approval from the Securities and Exchange Board of India (SEBI) to commence mutual fund operations through its asset management arm, Nuvama Asset Management.

The regulatory clearance enables the company to establish its mutual fund business and expand its presence in the asset management sector.

According to the company, Nuvama Asset Management will initially focus on obtaining approvals to launch investment products under the Specialised Investment Fund (SIF) framework. It plans to subsequently introduce a wider range of mutual fund offerings catering to different investor segments.

In a statement, Nuvama said the approval marks a significant step in strengthening its integrated wealth and asset management platform and will allow it to provide a broader suite of investment solutions.

“SEBI’s approval to establish our mutual fund business is another important building block in Nuvama’s integrated wealth and asset management platform,” said Nuvama Group Managing Director and Chief Executive Officer Ashish Kehair.

He added that the company intends to begin with Specialised Investment Funds, drawing on its experience in managing differentiated public market investment strategies.

As of March 2026, Nuvama managed client assets exceeding Rs 4.5 lakh crore and served more than 13 lakh affluent, high-net-worth and ultra-high-net-worth clients. The company also caters to over 4,750 wealthy families across the country.

Its alternative asset management business had assets under management of more than Rs 12,500 crore as of March 31, 2026.

Nuvama said its entry into the mutual fund industry comes at a time when the sector is witnessing strong growth, with total assets under management crossing Rs 80 lakh crore, driven by increasing retail participation, greater financial awareness and rising adoption of systematic investment plans (SIPs).