Lakshya Asset Management gets SEBI nod to launch mutual fund business

• Lakshya Asset Management Company receives SEBI approval to start mutual fund operations.
• Sponsored by Wealth First Portfolio Managers, a publicly listed wealth management firm.
• Founding team members from Benchmark Asset Management Company, known for introducing ETFs in India, join Lakshya AMC.
• Lakshya AMC will be headquartered in Ahmedabad, a unique location for a mutual fund house.
• Enters India's expanding mutual fund industry, which has grown significantly, though passive strategies still have room for growth.