Nuvama Wealth Management Limited has received final approval from SEBI to commence its mutual fund operations. The company’s wholly-owned subsidiary, Nuvama Asset Management Limited, will act as the Asset Management Company for the newly approved Nuvama Mutual Fund. This significant development marks a key milestone in Nuvama’s integrated wealth and asset management strategy, expanding its service offerings and market reach.
Nuvama Expands into Mutual Funds
Nuvama Wealth Management Limited announced on June 10, 2026, that it has received the final approval from the Securities and Exchange Board of India (SEBI) to launch its mutual fund business. This strategic move allows Nuvama to commence mutual fund operations through its subsidiary, Nuvama Asset Management Limited, which will function as the Asset Management Company (AMC) for the new entity, Nuvama Mutual Fund.
Key Milestones and Future Strategy
This approval represents a significant milestone for Nuvama, underscoring its journey to establish a scaled asset management franchise. The AMC will now pursue necessary approvals to introduce investment products under the Specialized Investment Fund (SIF) framework, with plans to broaden its mutual fund offerings over time. This expansion is expected to further strengthen Nuvama’s position as an integrated wealth and asset management platform.
About Nuvama’s Existing Business
Nuvama has a well-established presence in wealth management, managing total client assets exceeding ₹4.5 trillion as of March 2026. The company serves over 1.3 million affluent, HNI, and UHNI clients, including more than 4,750 of India’s wealthiest families. Additionally, the Nuvama Group boasts a focused alternative asset management franchise with client assets of over ₹12,500 crore as of March 31, 2026. The mutual fund business launch is seen as a natural extension of its existing capabilities.
Leadership Perspective
Ashish Kehair, MD & CEO of Nuvama Group, stated that SEBI’s approval is a crucial step in building Nuvama’s integrated platform. He highlighted the company’s investment expertise, distribution network, and strong client base as key assets for scaling a distinctive asset management business. The initial focus will be on Specialized Investment Funds (SIFs), leveraging Nuvama’s experience in managing differentiated public market strategies to extend these capabilities to a wider investor base. The long-term vision includes expanding into a more diverse range of investment solutions.
Market Context
Nuvama enters the mutual fund sector at a time of significant growth for the Indian asset management industry, with industry-wide AUM surpassing ₹80 lakh crore. The increasing participation of domestic investors, driven by greater financial awareness, favorable demographics, and the growing popularity of Systematic Investment Plans (SIPs), is expected to fuel robust growth in the mutual fund industry over the next decade.
Subsidiary Roles
Nuvama Mutual Fund Trusteeship Services Limited, another wholly-owned subsidiary, will serve as the Trustee Company for Nuvama Mutual Fund, ensuring governance and oversight for the new venture.
Contact Information
For media inquiries, Mr. Zohar Reuben (+91 74001 80816, [email protected]) can be contacted. For public relations, Mr. Ashish Trivedi of Avian We (+91 98925 00644, [email protected]) is the point of contact.
Source: BSE
