Old Bridge Capital Management gets final nod from Sebi to launch Mutual Fund business

livemint.com:

premier portfolio management firm , today announced that it has received the final approval from the Securities and Exchange Board of India (SEBI) to commence its mutual fund operations under Old Bridge Mutual Fund. Kenneth Andrade , Founder of OBCM said "We are delighted to receive this license to commence operations for Old Bridge Mutual Fund and will be launching our maiden actively managed equity scheme. As we move forward with our newly acquired license, we remain committed to providing investors with long-term investment solutions on its mutual funds platform as well".

Old Bridge Capital Management Private Limited was incorporated in December, 2015. Helios Capital Asset Management (India) Private Ltd is making its foray into the mutual fund space with the filing of a scheme information document (SID) with markets regulator Sebi for an overnight fund. The company will launch the new scheme after getting approval from Sebi.

In addition to Helios Capital, broking firm Zerodha received final approval from Sebi to set up an asset management company. Zerodha has submitted draft offer documents to the market regulator for the launch of two schemes, the Zerodha Tax Saver (ELSS) Nifty Large Midcap 250 Index Fund and the Zerodha Nifty Large Midcap 250 Index Fund (ZN250), in accordance with its mandate to establish passive schemes. Zerodha MF files papers with SEBI for two schemes.