(PTI) Helios Capital has received capital markets regulator Sebi's in-principle approval to launch a mutual fund business.
Helios Capital Management PTE Limited, which is the business of portfolio management services, applied for a mutual fund license with the Securities and Exchange Board of India (Sebi) in February 2021.
"I am very pleased to share that Sebi has granted Helios Capital in-principle approval to sponsor Helios Mutual Fund. We deeply respect this approval & will work hard to offer mutual funds for retail investors, focusing on performance & service," Samir Arora, the main founder and fund manager at Helios Capital, announced on Twitter.
After quitting Alliance Capital almost 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital’s Indian mutual fund business.
The company has joined entities like Zerodha, Samco Securities and Bajaj Finserv that received Sebi’s go-ahead to launch mutual fund operations. Besides, half a dozen companies are awaiting Sebi's nod to enter into the mutual fund space.
A flurry of applications for a mutual fund license was seen after the market regulator allowed fintech firms to enter the space.