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Blackstone-backed ASK Asset & Wealth Management gets SEBI approval for mutual fund business

ASK Asset & Wealth Management Group has received an In-Principle Approval (IPA) from the Securities and Exchange Board of India (SEBI) to launch its mutual fund business. The Blackstone-backed firm plans to offer research-driven investment solutions for Indian investors.
Blackstone-backed ASK Asset & Wealth Management has received approval from the Securities and Exchange Board of India (SEBI) to enter the mutual fund business. This approval allows ASK to launch its first mutual fund scheme, marking its entry into the Rs 50 trillion Indian mutual fund industry. The company, which has been managing assets worth over Rs 10,000 crore, aims to leverage its expertise in alternative investments to offer new investment products. This move is part of ASK's broader strategy to diversify its offerings and tap into the growing retail investor market in India.

Read the Full CNBCTV18 Article at:
[ https://www.cnbctv18.com/personal-finance/blackstone-backed-ask-asset-wealth-management-gets-sebi-approval-mutual-fund-business-19581090.htm ]