Financial services company Choice International on Friday said its arm Choice AMC has received final approval from Sebi to commence operations as an Asset Management Company (AMC), marking its foray into the mutual fund business.
The regulatory clearance enables the Mumbai-headquartered Choice group to formally roll out its mutual fund operations, expand its offerings across the financial services spectrum, the company said in a statement.
Choice will now initiate operations of its AMC, with a strategic and phased rollout beginning with passive investment products such as index funds and exchange traded funds (ETFs), it added.
"This approval marks a significant milestone in the expansion of our financial services portfolio and reinforces our long-term commitment to delivering comprehensive and accessible investment solutions.
"The mutual fund platform will initially focus on passive products, in line with our objective to build a stable, scalable, and professionally managed asset management business under a strong regulatory and governance framework," Choice International's CEO Arun Poddar said.
