Latest News | Alpha Alternatives Fund Advisors Seeks MF Licence, Files Application with Sebi

New Delhi, Jan 16 (PTI) Alternative asset management platform Alpha Alternatives Fund Advisors LLP has become the latest entity to approach Sebi for a mutual fund (MF) licence.

It has joined the list of seven entities, which are awaiting the capital markets regulator's approval to enter the segment.

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According to the latest update with the Securities and Exchange Board of India (Sebi), Alpha Alternatives filed its applications with the regulator on November 8, 2022.

Alpha Alternatives is India's leading multi-asset class alternat?ive asset management platform. It has multiple strategies across absolute-return, credit, commodities, value and quant-driven equities, and fixed income.

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Apart from ??Alpha Alternatives, applications of six companies -- Unifi Capital, Alchemy Capital Management, Angel One, Emkay Global Financial Services, Abira Securities and Wizemarkets Analytics are under consideration as of December 2022.

Four companies, Bajaj Finserv, Zerodha Broking, Helios Capital Management PTE Ltd and Old Bridge Capital Management?, have received Sebi's in-principle approval from August 2021 to October 2022 and the approval for final registration is under consideration.

Old Bridge Capital Management was the latest company to obtain Sebi's in?-principle nod on October 12, last year.

A flurry of applications for a mutual fund licence was seen after the market regulator allowed fintech firms to enter the space.

At present, the mutual fund industry has 42 players who together manage assets of nearly Rs 40 lakh crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)