Carnelian Asset Management & Advisors has received regulatory clearance from the Securities and Exchange Board of India (SEBI) to launch its mutual fund business.
The approval marks a significant milestone for the firm, enabling it to transition from advisory services to active asset management with a direct retail distribution channel.
The green light permits Carnelian to offer a range of investment products, including equity, debt, and hybrid funds.
This expansion allows the firm to compete directly with established asset management companies in India’s rapidly growing mutual fund industry, which has seen consistent inflows from retail investors in recent years.
Vikas Khemani, Founder and Chief Investment Officer at Carnelian, led the firm through the regulatory process.
The launch is expected to provide investors with additional options in the mid-cap and small-cap equity segments, where Carnelian has previously built a reputation through its advisory arm.