India Infoline receives inprinciple to start MF Company

Leading financial services firm India Infoline has received inprinciple nod from SEBI to start its mutual fund company. “An entry into the mutual funds space is an opportunity for us to continue to expand our offerings under the financial services domain in line with our long-term strategy,” India Infoline executive director R Venkataraman said in a statement on Tuesday. The company has presence in 886 business locations spread over 350 cities across the country.

In the recent past, all the Assets under management have declined significantly on account of the fall in the stock prices and also some amount withdrawal by investors and no new money flowing into the new purchases of Mutual funds.