Nuvama receives final SEBI approval to launch Mutual Fund Business

Nuvama Wealth Management Limited, announced that it has received the final approval from the Securities and Exchange Board of India (SEBI) to commence mutual fund operations through its asset management arm, Nuvama Asset Management Limited (“AMC”).

The approval marks an important milestone in Nuvama's journey to build a scaled asset management franchise. As the next step, the AMC will seek necessary approvals to launch investment products under the Specialized Investment Fund (SIF) framework, followed by a broader range of mutual fund offerings over time.

This development further strengthens Nuvama's position as an integrated wealth and asset management platform and expands its ability to deliver differentiated investment solutions across investor segments.

Since its inception, Nuvama has built one of India's most trusted and scaled wealth management platforms, currently managing total client assets of over ₹4.5 trillion (as of March 2026) and serving more than 1.3 million affluent, HNI, and UHNI clients, as well as 4,750+ of India's wealthiest families. The Nuvama Group has also developed a focused alternative asset management franchise with client assets of over ₹12,500 crore as of 31 March, 2026.

Commenting on the development, Ashish Kehair, MD & CEO of Nuvama Group 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.  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."

Nuvama enters the mutual fund space at a time when the Indian asset management industry is experiencing strong and sustained growth, with industry-wide AUM surpassing ₹80 lakh crore. With domestic investor participation rising steadily, driven by increasing financial awareness, favourable demographics, and growing systematic investment plan (SIP) culture the mutual fund industry is widely expected to continue its robust growth trajectory over the coming decade.

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