India’s asset management market set for more star power as big boys jump in

• Old Bridge Capital Management (OBCM), has officially received the green light from SEBI to launch its mutual fund activities under the name Old Bridge Mutual Fund.
• Recently BlackRock and Jio Financial Services have reached an agreement to establish a JV aimed at entering India's asset management sector.
• In August, Helios Capital received approval from SEBI to launch its mutual fund, Helios Mutual Fund.

Indian investors will have more choice when it comes to mutual funds with new fund houses setting up shop. Portfolio management firm, Old Bridge Capital Management (OBCM), has officially received the green light from India’s market regulator, the Securities and Exchange Board of India (SEBI), to launch its mutual fund activities under the name Old Bridge Mutual Fund.

Says Kenneth Andrade, Founder OBCM, "We are delighted to receive this licence to commence operations for Old Bridge Mutual Fund and will be launching our maiden actively managed equity scheme. As we move forward with our newly acquired licence, we remain committed to providing investors with long term investment solutions on its mutual funds platform as well.”

Andrade is known for his expertise in equity portfolio management and deep insights into local markets. Moreover, besides his analytical skills, risk management prowess, and effective communication, he upholds a long-term investment philosophy and an entrepreneurial spirit.

BlackRock and Jio Financial Services’ entry

OBCM is not a lone ranger in this. Other fund houses have also recently announced entry into the Indian mutual funds landscape. Recently, BlackRock and Jio Financial Services came to an agreement to establish a joint venture aimed at entering India's asset management sector.

“"BlackRock India is at the very heart of our global operating platform, enabling us to innovate our business to benefit clients. Over the past 17 years, our India platform has grown to over 2,400 employees across offices in Mumbai, Gurgaon, and Bangalore powering our global network by employing talents across investments, alternatives, operations, analytics and modelling, and corporate functions,” said a release.

Samir Arora’s Helios Capital gets SEBI approval too

Just a month ago in August, veteran market voice Samir Arora, founder and fund manager at Helios Capital, shared that Helios Capital had received approval from SEBI to launch its mutual fund, Helios Mutual Fund. “"I am very happy to announce that SEBI has granted approval to Helios Mutual Fund. We need your wishes and support to make this new venture a success," Arora had tweeted.

Founded in 2005, Singapore-based asset management firm Helios Capital oversees various funds, including a global long-only equity fund and long/short and long-only funds with an India focus.

Arora has previously served as the chief investment officer for the Indian mutual fund division of Alliance Capital. Arora possesses strengths in global and emerging market investments, notably in India. His deep market knowledge, astute stock selection, and long-term perspective has contributed to successful investment outcomes.