Carnelian Asset Management receives SEBI approval to launch mutual fund business

Carnelian Asset Management & Advisors has received SEBI approval to launch its mutual fund business.

The approval enables Carnelian to expand its offerings to a wider set of retail investors. It also strengthens Carnelian’s position as an integrated wealth and asset management company capable of delivering a comprehensive range of investment products across various investor segments.

Carnelian, which is entering the mutual fund business, has registered spectacular growth, particularly in the retail segment, with more than 20 crore folios and about 10 crore active SIP accounts. The industry-wide AUM has grown to over Rs 82 lakh crore as of June-end.

The firm will now be able to cater to a broader investor base, offering reliable investment solutions based on both active and passive strategies across equity, debt, and hybrid products, he added.

Vikas Khemani, Founder & CIO at Carnelian Asset Management & Advisors, said that in the past seven years, the company has built a strong investment platform anchored on research, discipline, and governance.

The approval enables extending investment capabilities to a much larger investor base and participating more meaningfully in the growing savings and investment ecosystem, he added.

“We believe the next phase of growth for the mutual fund industry will be driven by deeper penetration beyond the major metropolitan centres. As financial awareness and participation continue to rise across smaller towns and rural India, there is a significant opportunity to broaden access to quality investment solutions and bring more investors into the formal financial ecosystem,” he said.