Choice International's Next Move: Entering the Mutual Fund Arena

Choice International Ltd has received an in-principle approval from Sebi to start mutual fund operations. This move allows Choice to broaden its financial services and target a more extensive range of investors. The firm is set to establish an asset management company following Sebi's regulations.

Financial services provider Choice International Ltd has secured in-principle approval from the Securities and Exchange Board of India (Sebi) to initiate mutual fund operations. This strategic development will enable Choice International to broaden its financial services portfolio and reach a wider investor demographic.

According to the company, an asset management company and a trustee company will be established as part of the new venture, adhering rigorously to Sebi's regulatory framework. Choice International has expressed its firm commitment to meeting all stipulated conditions to begin its mutual fund activities.

CEO and Executive Director Arun Poddar stated that this approval is pivotal for the company's growth strategy, aiming to empower investors with customized investment solutions and fostering value through disciplined and transparent fund management. The 45-player mutual fund industry in India manages assets surpassing Rs 68 lakh crore.

(With inputs from agencies.)