Quantitative trading and investment firm AlphaGrep Securities has received an in-principle approval from market regulator Sebi to sponsor mutual funds in India, a statement said on June 16, which will be housed under the asset management vertical AlphaGrep Investment Management (AGIM).
"This approval marks a significant milestone in AlphaGrep's journey to bring its data-driven, technology-powered investment capabilities to a broader retail and institutional investor base in India," the company said.
Founded by Mohit Mutreja and Parshant Mittal in 2010, AlphaGrep has built a specialised quant trading and investment platform and manages over Rs 8,500 crore globally. Its asset class vertical AGIM has assets under management (AUM) of over Rs 2,000 crore. It has over 500 clients across two SEBI-registered CAT III AIFs (long-short), Long Only PMS and GIFT City-domiciled outbound CAT III AIF.
The company said that AGIM has a proven track record of managing alternative assets and delivering risk-adjusted returns. It now aims to democratize access to "sophisticated investment strategies through its upcoming suite of mutual fund products", it added.
Bhautik Ambani, CEO of AlphaGrep Investment Management said, "We are grateful to Sebi for granting us the in-principle approval and for fostering an environment that encourages innovation in asset management. This development reinforces our long-term vision of offering investors access to differentiated, systematic and quant-driven investment solutions grounded in technology and data science."
Also Read: SEBI board meet this week; separate delisting norms for PSUs on agenda
The proposed mutual fund business will combine advanced mathematical models, machine learning, and a disciplined approach to portfolio construction, AlphaGrep said. It plans to offer a range of quant-driven actively managed products, including equity and hybrid strategies, to cater to the diverse investor needs in India.
The final registrations and operational launch of the mutual fund business are however subject to Sebi's approval, following fulfillment of certain requirements.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
