Mahindra Asset Management Company (AMC) on 4 February 2016 received Securities and Exchange Board of India’s (SEBI’s) approval to manage the Mahindra Mutual Fund.
Mahindra AMC is a wholly-owned subsidiary of Mahindra & Mahindra Financial Services (MMFS), a part of the Anand Mahindra-led Mahindra group.
According to reports, Mahindra Finance applied for a mutual fund licence on 30 December 2008 and was given an in-principle approval on 4 October 2011.
Currently, about 40 mutual fund houses are operation in the country. HDFC MF, ICICI Prudential and Reliance MF are among the top mutual fund companies in India.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 4 February 2016
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.