Wealth First Portfolio Managers Limited has informed the Exchange about In-Principle Approval from SEBI
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Wealth First Portfolio Managers Limited has received an in-principle approval from SEBI on 7th May 2025 to sponsor and set up a Mutual Fund. The company will now establish an Asset Management Company (AMC) and a Trustee Company as required under SEBI regulations. This marks Wealth First's entry into the mutual fund business, expanding beyond its existing portfolio management services. The approval is the first major step before the actual launch of the mutual fund operations.
This is a positive milestone for shareholders as it opens a new, potentially high-growth revenue stream through the mutual fund business. Diversification into mutual funds could significantly boost future earnings, though the actual launch timeline and capital requirements are yet to be disclosed.