TestCloud
Prep • Practice • Perform
Log In

SEBI Grants Preliminary Approval to ASK Group for Launching Mutual Fund Business.

Banking & Finance | Dated: 31 Mar 2025

In March 2025, Mumbai (Maharashtra)-based ASK Asset & Wealth Management Group (ASK Group), backed by Blackstone Inc. (United States of America, USA), secured in-principle approval from Securities and Exchange Board of India (SEBI) to launch its Mutual Fund (MF) business.

🎯 Key Highlights:

  • - This marks a strategic expansion of ASK Group’s existing investment solutions, which include listed equity portfolio management, alternate investments, and wealth management.

💡 Other Important Facts:

  • (i) The company plans to offer a diverse range of mutual fund products aligned with its research-driven investment approach.
  • (ii) The new mutual fund venture will cater to various investor segments, including retail investors, High Net-worth Individuals (HNI), Ultra High Net-worth Individuals (UHNI), and institutional investors.
  • (iii) According to the Association of Mutual Funds in India (AMFI) January 2025 report, the Assets Under Management (AUM) of Indian mutual funds have experienced significant growth, rising from Rs. 24 lakh crore in March 2019 to Rs. 67 lakh crore in January 2025.

📚 Test Your Knowledge:

Recently, in March 2025, which organization granted in-principle approval to ASK Group to launch its Mutual Fund (MF) business?

Correct Answer: SEBI

🚀 Quick Recap: