Nuvama Wealth Management Ltd has received final approval from the Securities and Exchange Board of India (SEBI) to commence mutual fund operations through its asset management subsidiary, Nuvama Asset Management Ltd (AMC).
The regulatory clearance marks a significant milestone in Nuvama’s strategy to build a scaled asset management franchise and further strengthen its integrated wealth and asset management platform.
Entry into mutual fund space
Following the approval, Nuvama AMC will seek the necessary regulatory clearances to launch investment products under the Specialised Investment Fund (SIF) framework. The company plans to subsequently expand its offerings with a broader suite of mutual fund products over time.
The move broadens Nuvama’s capabilities in delivering investment solutions across a wide spectrum of investor segments and adds another growth avenue to its wealth management business.
Building on a strong platform
Nuvama said it enters the mutual fund industry with an established wealth management franchise that currently manages client assets exceeding ₹4.5 trillion as of March 2026.
The company serves more than 1.3 million affluent, high-net-worth (HNI) and ultra-high-net-worth (UHNI) clients, including 4,750 of India’s wealthiest families. The group has also built a focused alternative asset management business with client assets of over ₹12,500 crore.
Focus on differentiated strategies
Nuvama Group MD & CEO Ashish Kehair said, “SEBI’s approval to establish our mutual fund business is another important building block in Nuvama’s integrated wealth and asset management platform. Our investment expertise, distribution reach and strong client base positions us well to scale a distinctive asset management business.”
He added, “We plan to begin with Specialized Investment Funds (SIFs), where our experience in managing differentiated public market strategies gives us a unique edge and enables us to extend these capabilities to a broader set of investors. Over time, we intend to expand into a wider suite of investment solutions.”
Industry growth tailwinds
Nuvama’s entry comes at a time when India’s mutual fund industry continues to witness strong growth, with industry assets under management crossing ₹80 lakh crore.
The company noted that rising financial awareness, favourable demographics and growing adoption of systematic investment plans (SIPs) are driving greater participation from domestic investors. These trends are expected to support sustained expansion of the mutual fund industry over the coming decade.
With the latest approval, Nuvama is set to deepen its presence across the wealth and asset management value chain while tapping into the rapidly growing mutual fund market.