Angel One's Leap into Mutual Funds with SEBI Nod

Angel One's subsidiary, Angel One Asset Management Company, has received SEBI approval to start mutual fund operations. The company focuses on passive investment solutions like Index Funds and ETFs, aiming for cost-effective investment options. Angel One's shares rose by 4.07% following this announcement.

Fintech firm Angel One made headlines when its subsidiary, Angel One Asset Management Company, received approval from SEBI to initiate mutual fund operations. This strategic move marks Angel One's entry into the asset management sector, concentrating on passive investment solutions that prioritize cost-efficiency and transparency.

In the wake of this announcement, Angel One's stock surged 4.07% to close at Rs 2,909.65 on the BSE. The introduction of passive investment products, such as Index Funds and ETFs, signifies Angel One's commitment to providing a simplified and affordable investment path for clients.

According to Dinesh Thakkar, the company's Chairman and Managing Director, their focus on passive investing aims to make financial products more accessible and empower a new wave of investors to participate in India's economic growth. With 45 mutual fund houses currently managing Rs 66 lakh crore, Angel One's entry is poised to shake up the existing landscape.

(With inputs from agencies.)