New plans of Edelweiss

Edelweiss Capital, a Mumbai based financial services company has received the approval from the market regulator, SEBI, to start its asset management business. As per the press release yesterday, Edelweiss Asset Management Ltd will act as an investment manger for Edelweiss Mutual Fund, whom the registration has been granted. The asset management company plans to launch more than 8-9 products in the mutual fund domain within one year, which will include broad based equity funds, structured funds, arbitrage funds and other innovative fixed income funds and equity funds inline with the requirements of the market. The group company’s businesses include investment banking, insurance brokerage and wealth management.