Online discount broker Samco Securities has received capital markets regulator Sebi’s approval to launch its mutual fund business. “We have received final approval from Sebi on July 30, 2021,” Samco Securities founder Jimeet Modi told PTI on Thursday.
The company has already built a team for its mutual fund operations and plans to launch its first new fund offer (NFO) within the mandatory six months period.
This comes months after the markets regulator had allowed fintech firms to enter the mutual fund space. Companies like Frontline Capital Services, Zerodha Broking, Bajaj Finserv, Wizemarkets Analytics, Unifi Capital, Alchemy Capital Management and Helios Capital Management Pte Ltd are also eyeing an entry into the MF segment.
