Wealth First Portfolio Managers Limited announced in an exchange filing dated March 25 that its subsidiary, Lakshya Asset Management Private Limited, has received final approval from the Securities and Exchange Board of India (SEBI) to operate as an Asset Management Company (AMC), marking a significant regulatory milestone for India’s asset management sector
The approval, dated March 25, 2026, authorises Lakshya Asset Management to launch and manage mutual fund schemes in India, marking the company’s formal entry into the highly competitive mutual fund industry.
What is a Mutual Fund?
A mutual fund is a pooled investment vehicle where money from multiple investors is collected and invested in assets such as stocks, bonds, or other securities. These funds are managed by professional fund managers, offering diversification and accessibility to retail investors.
Who oversees Mutual Funds in India?
Mutual funds in India are regulated by the Securities and Exchange Board of India (SEBI). The actual management of these funds is handled by Asset Management Companies (AMCs), which design investment strategies and manage investor money under SEBI’s framework.
The Association of Mutual Funds in India (AMFI) is an industry body that represents all SEBI-registered mutual funds in India. It looks after the ethical practices, standardisation, and investor awareness, while also working to build trust and transparency in the mutual fund ecosystem.
This approval positions Wealth First to tap into India’s growing mutual fund market and expand its footprint in the investment ecosystem.
About Wealth First Portfolio Managers
Wealth First Portfolio Managers Ltd is a financial services firm that provides customised wealth management, investment advisory, and portfolio management services to individuals, families, and corporates.
The company was listed on January 20, 2021, according to data available on the NSE’s official website.
On Wednesday (March 25), the shares of Wealth First Portfolio Managers settled around 2.8 per cent, or Rs 24.75 higher, at Rs 915.75.
Wealth First Portfolio Managers Performance
Wealth First Portfolio Managers Limited’s stock has delivered mixed short-term but strong long-term performance, gaining 7.88 per cent in one week while remaining flat over one month. The stock is up 3.90 per cent year-to-date and 5.02 per cent over one year, with exceptional returns of 213.47 per cent over three years and 664.55 per cent over five years, according to the data available on NSE’s official webiste.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
