Samir Arora, founder and fund manager of Helios Capital recently shared that market regulator Sebi approved Helios Mutual Fund. “I am very happy to announce that SEBI has granted approval to Helios Mutual Fund. We need your wishes and support to make this new venture a success,” Arora tweeted on Thursday.
On Sunday, Arora spilled a few additional details about the upcoming Helios Mutual Fund on the X platform (formerly known as Twitter). When a user asked Arora about the name of the fund, he replied, “No creativity is allowed in the name of funds. It has to be Helios XX Fund with XX being one of the categories allowed- mid-cap, Flexicap, balanced, etc”.
Another user asked about the launching of the first New Fund Offer. “When will you be launching the first NFO sir? looking forward!”
Arora wrote, “Thank you. Should be in October”.
One user inquired about the types of funds Arora’s fund house would bring. “Sir if you can say what type of funds your company is going to bring or what unique products just like Zerodha said they will be passive-only fund house,” Arora replied, “We have said that we will not be passive-only active so the exact opposite of them”.
Arora told his followers on the X platform, “Of course we will work hard for every SIP but right now we are happy with the company we keep” while sharing an image in which he, Reliance Industries chairman Mukesh Ambani and Zerodha co-founder Nithin Kamath were called, “New SIP players in Town”.
Founded in 2005, Singapore-based asset management firm Helios Capital Management Pte Ltd manages a global long-only equity fund as well as long/short and long-only funds with an emphasis on India.
Arora headed the Indian mutual fund division of Alliance Capital as its chief investment officer.
‘MUKESH AMBANI’s AMC’
Last month Reliance Group’s Jio Financial Services and US-based BlackRock Inc announced they will form a 50:50 joint venture to launch asset management services in India.
Jio Financial Services was demerged from Reliance Industries on 20 July.
The venture is BlackRock’s second attempt at an entry into India’s asset management industry. It exited an earlier joint venture with local financial firm DSP Group in 2018.
‘ZERODHA’s AMC’
On 11 August, broking firm Zerodha received final approval from capital markets regulator Sebi to set up an asset management company. Zerodha founder Nithin Kamath said industry veteran Vishal Jain will be the new CEO of the AMC business.
In April, both Zerodha and Smallcase announced that they would set up a joint venture to launch the Zerodha AMC business.
“We just received the final approval for the @ZerodhaAMC we are building in partnership with @smallcaseHQ,” Kamath announced on the X platform, formerly known as Twitter.
Investors are betting big on systematic investment plans or SIP to generate long-term wealth with the monthly flow in the mutual fund industry through the route reaching an all-time high of ₹15,245 crore in July.
The monthly SIP contribution in July was way higher than ₹14,734 crore inflow seen in June and ₹14,749 crore in May, which was the previous high.
SIP is an investment methodology offered by mutual funds wherein an individual can invest a fixed amount in a chosen scheme periodically at fixed intervals, say once a month, instead of making a lump sum investment. The SIP installment amount can be as small as ₹500 per month.
The latest inflow in equities was largely driven by five new fund offerings (NFOs) which cumulatively collected ₹3,011 crore. Moreover, categories like mid and small cap have received significant flows during the month under review.
The inflow pushed the Assets Under Management (AUM) of the industry to ₹46.37 lakh crore at the end of July from ₹44.39 lakh crore in June-end.