Old Bridge Capital Management gets Sebi nod for mutual fund business
Old Bridge Capital Management (OBCM) has received the Securities and Exchange Board of India’s (Sebi’s) approval to start its mutual fund operations under Old Bridge Mutual Fund.
Kenneth Andrade, Founder of OBCM, said, “We are delighted to receive this licence 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 licence, we remain committed to providing investors with long-term investment solutions on its mutual funds platform as well.”
Old Bridge Capital Management was incorporated in December 2015 and the company is registered with Sebi as a portfolio manager.
OBCM’s media release on Wednesday claimed that the company was also an investment manager and sponsor to a Sebi-registered Category III Alternative Investment Fund named Old Bridge Capital AIF.
The company website claims that Andrade has managed a portfolio of over a billion dollars with a track record of beating the benchmark every year since 2006.
OBCM manages equity portfolios through two structures — Portfolio Management Services and Category III Alternative Investment Funds — the release said.
Earlier, Reliance Industries Ltd’s financial services arm Jio Financial Services (JFS) and BlackRock have signed an agreement to form a 50:50 joint venture to offer investment solutions.
Through the joint venture, the firms aim for a digital-first offering and democratise access to solutions for investors in India. JFS and BlackRock are targeting an initial investment of $150 million each in the joint venture, to be named Jio BlackRock.
More recently, Bengaluru-based billionaire Nithin Kamath along with his brother Nikhil Kamath launched Zerodha Fund House, which is
