Nuvama Wealth Management on Wednesday announced that it has received the final approval from the Securities and Exchange Board of India (SEBI) to start mutual fund operations through its asset management arm, Nuvama Asset Management Limited.
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, according to a press release.
