India Infoline Ltd, one of the leading players in the Indian financial service space, announced that it has received the in-principle approval from SEBI for sponsoring mutual fund.
Speaking on the occasion, R Venkataraman, Executive Director, India Infoline said ‘We are indeed pleased to receive this in-principle approval from SEBI. In line with the trend in the developed markets, we expect Mutual Funds to be the vehicle of choice for the retail investors to participate in the equity markets.
An entry into the Mutual Funds space is an opportunity for us to continue to expand our offerings under the financial services domain in line with our long-term strategy. We will look to build up a strong team to run this business and will leverage upon our existing distribution strengths and proven research capabilities to grow the asset management business.’
India Infoline has proven credentials in mobilizing Mutual fund assets being one of the largest pan-India distributors for all the leading asset management companies. The company’s distribution network comprises 886 business locations spread across 350 cities and towns of India. Its acclaimed research team provides insights into equities, mutual funds, commodities and other sectoral themes.
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