NEW DELHI: (Jul 22) Carnelian Asset Management & Advisors on Wednesday said it has received approval from markets regulator Sebi to launch its mutual fund business, marking its entry into the country’s fast-growing asset management industry.
The approval will enable the firm to expand its offerings to retail investors by launching active and passive investment products across equity, debt and hybrid categories, the company said in a statement.
Founded in 2019 by Vikas Khemani, Manoj Bahety and Swati Khemani, Carnelian currently manages more than Rs 18,300 crore in assets across Portfolio Management Services (PMS), Alternative Investment Funds (AIFs) and offshore investment strategies, serving over 8,600 clients through a network of more than 710 partners as of June 30, 2026.
Source: PTI News
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