Mumbai : Carnelian Asset Management & Advisors today announced that it has received approval from the Securities and Exchange Board of India (SEBI) to launch its mutual fund business.
The approval marks a significant milestone in Carnelian’s growth journey, enabling the firm to expand its offerings to a wider set of retail investors. It also strengthens Carnelian’s position as an integrated wealth and asset management company that can deliver a comprehensive range of investment products across various investor segments.
Carnelian is entering the mutual fund business at a time when the domestic asset management industry is witnessing spectacular growth, particularly in the retail segment, with more than 20 crore folios and about 10 crore active SIP accounts. The industry-wide AUM has grown to over Rs 82 lakh crore as on June 30, 2026.
The firm will now be able to cater to a broader investor base, offering reliable investment solutions based on active as well as passive strategies through equity, debt and hybrid products.
Commenting on the development, Mr Vikas Khemani, Founder & CIO at Carnelian Asset Management & Advisors, said: ” Over the past seven years, we have built a strong investment platform anchored on research, discipline, and governance. This approval enables us to extend our investment capabilities to a much larger investor base and participate more meaningfully in India’s growing savings and investment ecosystem.”
“We believe the next phase of growth for the mutual fund industry will be driven by deeper penetration beyond the major metropolitan centers. As financial awareness and participation continue to rise across smaller towns and rural India, there is a significant opportunity to broaden access to quality investment solutions and bring more investors into the formal financial ecosystem.”
