Nuvama Wealth Management Limited has informed stock exchanges on June 10, 2026 that it has received final approval from the Securities and Exchange Board of India to commence mutual fund operations. SEBI granted the certificate of registration for Nuvama Mutual Fund via a letter dated June 9, 2026, following an earlier intimation on October 1, 2025 regarding approval to act as sponsor.
Nuvama Asset Management Limited, a wholly owned subsidiary of Nuvama Wealth Management, will act as the Asset Management Company for Nuvama Mutual Fund. Nuvama Mutual Fund Trusteeship Services Limited, also a wholly owned subsidiary, will serve as the Trustee Company.
The Asset Management Company will now seek necessary approvals to launch investment products under the Specialized Investment Fund framework. Nuvama intends to expand into a broader range of mutual fund offerings over time.
Nuvama manages total client assets of over Rs 4.5 trillion as of March 2026, serving more than 1.3 million affluent, HNI, and UHNI clients and over 4,750 of India's wealthiest families. The group's alternative asset management franchise holds client assets of over Rs 12,500 crore as of March 31, 2026. Nuvama offers wealth management solutions covering investment advisory, estate planning, investment management, lending and broking services.
Ashish Kehair, MD and CEO of Nuvama Group, said the SEBI approval is another important building block in Nuvama's integrated wealth and asset management platform. Nuvama plans to begin with Specialized Investment Funds, where its experience in managing differentiated public market strategies provides a unique edge, before expanding into a wider suite of investment solutions over time.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.