ASK Group Enters Mutual Fund Space After SEBI Approval

Blackstone-backed ASK Asset & Wealth Management Group has received in-principle approval from SEBI to launch its mutual fund business in India. The move is expected to further strengthen ASK’s presence in the wealth management sector while complementing its existing investment offerings.

Research-Driven Investment Solutions for Indian Investors

ASK plans to offer research-driven mutual fund products that align with diverse investor needs. Currently, the firm operates in:

• Listed equity portfolio management

• Alternate investment funds (AIFs)

• Wealth management solutions

With this expansion, ASK aims to cater to a broader investor base, bringing its client-centric approach to the mutual fund industry.

CEO’s Vision for ASK’s Mutual Fund Business

Sunil Rohokale, Co-Founder, CEO & Managing Director of ASK Group, expressed enthusiasm about the development:
"We have received in-principle approval to enter the mutual fund business. India’s investment landscape is evolving rapidly, and we see an opportunity to bring our research-driven, client-centric approach to a wider audience."

India’s Mutual Fund Industry Growth: A Key Opportunity

The mutual fund industry in India has seen exponential growth in Assets Under Management (AUM):

• ₹24 lakh crore in March 2019

• ₹67 lakh crore in January 2025

This nearly threefold increase highlights the growing financialization of the Indian economy, presenting ASK with a strong opportunity to carve a niche in this competitive space.

Next Steps for ASK Group

Now that ASK has received SEBI’s in-principle approval, the company will work towards:

• Meeting SEBI's final requirements for operational approval

• Structuring its mutual fund product lineup

• Building distribution networks and investor outreach programs

Conclusion

As India’s mutual fund industry continues to grow, ASK Group’s entry into the sector marks a strategic expansion, leveraging its expertise in wealth and portfolio management. The move aligns with the broader trend of financialization and increased retail investor participation in India’s capital markets.

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