Samir Arora-owned Helios Capital gets Sebi nod for mutual fund unit
capital market regulator Securities and Exchange Board of India (SEBI) on Thursday has granted approval to Helios Mutual Fund on Thursday. "I am very happy to announce that SEBI has granted approval to Helios Mutual Fund. We need your wishes and support to make this new venture a success," said Samir Arora on X platform.
The Portfolio Management Services (PMS) submitted an application for a mutual fund licence in February 2021, and SEBI granted Helios Capital in-principle clearance to start a mutual fund operation in September 2022. "I am very pleased to share that Sebi has granted Helios Capital in-principle approval to sponsor Helios Mutual Fund. We deeply respect this approval & will work hard to offer mutual funds for retail investors, focusing on performance & service," Samir Arora, the main founder and fund manager at Helios Capital, announced on X platform formerly known as Twitter on September 2022.
Founded in 2005, Singapore-based asset management firm Helios Capital Management Pte Ltd manages a global long-only equity fund as well as long/short and long-only funds with an emphasis on India. Arora is returned to the 43-player mutual fund sector after leaving Alliance Capital with almost 20 years of experience. He headed the Indian mutual fund division of Alliance Capital as its chief investment officer.
The company has joined organisations like Zerodha, Samco Securities, and Bajaj Finserv that have been given the all-clear by Sebi to begin operating mutual fund operations. Additionally, a dozen businesses are waiting for Sebi's approval to enter the mutual fund industry. After the market regulator permitted fintech companies to operate in the sector, a wave of applications for mutual fund licences was observed,
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