The company is sponsored by Wealth First Portfolio Managers, a publicly listed wealth management firm on the NSE and BSE. Lakshya AMC has also brought on board members of the founding team of Benchmark Asset Management Company, including Sanjiv Shah, Rajan Mehta, and Sanjay Gaitonde.
The Benchmark team is known for introducing exchange-traded funds (ETFs) in India, including products such as Nifty BeES and Gold BeES. Benchmark AMC, founded in 2001, focused on passive and quantitative investing and was later acquired by Nippon Life India Asset Management from Goldman Sachs Asset Management.
Lakshya AMC said it will be headquartered in Ahmedabad, a relatively uncommon base for mutual fund houses, which are typically concentrated in larger financial centres.
The development comes at a time when India’s mutual fund industry has seen significant expansion. According to data from the Association of Mutual Funds in India, assets under management have grown from about ₹1 lakh crore in 2001 to over ₹82 lakh crore in early 2026.
Despite this growth, passive strategies account for roughly one-fifth of total industry assets, compared with a significantly higher share in markets such as the United States.
Lakshya AMC said further details on its product offerings and launch timelines will be announced later.
