#MutualFundsIndia #AbakkusAMC #ChoiceInternational #SEBI #MFIndustry #NewAMCs #PMS #AIF #FundManagement #SpecialisedInvestmentFunds #BoutiqueAMCs #AlphaAlternatives #CarnelianAM #OaklaneCapital #EsteeAdvisors #AshikaGroup
Mumbai – India’s ₹74 lakh crore mutual fund (MF) industry is set to witness increased competition and innovation as new players enter the fray. Abakkus Asset Management and Choice International, two reputed names from the investment and broking ecosystem, have received in-principle approval from SEBI to launch their mutual fund businesses.
Additionally, five more financial entities — Alpha Alternatives, Ashika Credit Capital, Carnelian Asset Management, Estee Advisors, and Oaklane Capital — have recently applied for mutual fund licenses, signaling heightened interest from established portfolio management firms and brokers to tap the growing MF market.
🆕 In-Principle Approvals: Abakkus AMC & Choice International
The Securities and Exchange Board of India (SEBI) granted in-principle nods to Abakkus and Choice in December 2024, and both companies submitted their final responses in June 2025.
The final green signal will come after SEBI’s on-site inspection, likely to be conducted within 2–3 months. Following that, the two firms are expected to launch their first MF products within another 1–2 months, pending regulatory filings.
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Abakkus AMC, founded by Sunil Singhania, is already a well-known name in India’s Portfolio Management Services (PMS) and Alternative Investment Fund (AIF) space. Known for its stock-picking expertise and alpha-generation strategies, Abakkus is widely watched by high-net-worth investors.
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Choice International, a full-service financial firm led by Arun Poddar, brings its experience in stockbroking, investment advisory, and wealth solutions to the mutual fund space.
📄 Five New Applicants: Rising Momentum in MF License Requests
Simultaneously, five more players — Alpha Alternatives, Ashika Credit Capital, Carnelian Asset Management, Estee Advisors, and Oaklane Capital — have submitted fresh applications for mutual fund licenses to SEBI.
What’s notable is that four out of the five — Alpha Alternatives, Carnelian, Estee, and Oaklane — already run PMS or AIF businesses. The entry of these seasoned alternative investment firms into the mutual fund space signals a potential wave of product innovation, boutique strategies, and differentiated investment offerings beyond the conventional large-cap funds.
Let’s look at the new applicants:
🔹 Alpha Alternatives
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Founded by Naresh Kothari
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Known for its AIF products
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Focuses on alternative strategies for HNIs and institutions
🔹 Carnelian Asset Management
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Co-founded by Vikas Khemani, Manoj Bahety, and Swati Khemani
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Operates as an AIF/PMS platform
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Emphasizes long-term wealth creation via high-conviction equity portfolios
🔹 Estee Advisors
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A quant-based PMS and algorithmic trading firm
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Founded by Sandeep Tyagi
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Focuses on systematic strategies and market-neutral models
🔹 Oaklane Capital
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Founded by Kuntal Shah, a seasoned market veteran
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Offers custom PMS strategies
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Likely to bring deep value investing expertise into mutual fund schemes
🔹 Ashika Credit Capital
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A stockbroking and lending firm, part of the Ashika Group
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Chaired by Pawan Jain, with Daulat Jain as Managing Director
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Also offers family office solutions and AIF products
🔍 Industry Outlook
The mutual fund industry in India has been growing at a rapid pace, with a sharp increase in Systematic Investment Plan (SIP) inflows, digital onboarding, and retail participation in Tier-II and Tier-III cities. As more investors look beyond traditional savings into capital markets, the scope for differentiated fund offerings is expanding.
The entry of boutique players and PMS/AIF specialists is expected to introduce Specialised Investment Funds (SIFs) — a potential new trend in India’s MF landscape. These funds may cater to niche segments like:
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Smart-beta strategies
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Quantitative investing
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Sectoral and thematic plays
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ESG and impact funds
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Market-neutral or long-short strategies
Moreover, many of these players bring in international exposure, proprietary models, and technology-driven platforms, which could challenge traditional asset management styles and appeal to the digitally-savvy next-generation investors.
🏁 What’s Next?
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SEBI inspections of Abakkus AMC and Choice International are expected soon. If cleared, mutual fund scheme filings could happen as early as Q4 2025.
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The five new applicants are currently under regulatory review, and approvals may start rolling in by early 2026.
📌 Key Takeaways:
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India’s ₹74 lakh crore MF industry is set to welcome seven new players, with two nearing final launch.
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Majority of new entrants have strong PMS/AIF backgrounds, ensuring experienced fund management.
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New players expected to diversify product offerings and introduce specialised investment strategies.
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This trend reflects SEBI’s efforts to promote healthy competition and innovation in the MF space.
🔖 Hashtags:
#MutualFundsIndia #AbakkusAMC #ChoiceInternational #SEBI #MFIndustry #NewAMCs #PMS #AIF #FundManagement #SpecialisedInvestmentFunds #BoutiqueAMCs #AlphaAlternatives #CarnelianAM #OaklaneCapital #EsteeAdvisors #AshikaGroup #SIPGrowth #FintechInInvesting #RetailInvestors #IndiaInvests #SEBIUpdates #SunilSinghania #ArunPoddar #MarketInnovation
