Blackstone-backed ASK Asset & Wealth Management Group gets SEBI's nod to launch mutual fund business

Blackstone-backed ASK Asset & Wealth Management Group gets SEBI’s nod to launch mutual fund business

• ASK Asset & Wealth gets SEBI nod to launch mutual fund business
• ASK Mutual Fund to offer equity, hybrid, and fixed-income funds
• Blackstone holds majority stake in ASK since 2022

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ASK Asset & Wealth Management on February 17 announced that it has received regulatory approval from SEBI to launch its operations as an investment manager for the mutual fund business in India.

The company said that ASK Mutual Fund will bring its cycle-tested investment philosophy to a wider audience, offering world-class investment solutions across active equity, passive strategies, hybrid and fixed-income products.

“The mutual fund platform will enable ASK to cater to all investor categories, from first-time retail investors and long-term savers to HNIs and institutional participants, through transparent, well-structured, and scalable products,” it said in a press release.

The fund house said that it will introduce a “thoughtfully curated suite of solutions” which will be designed to address diverse investment aims, including long-term wealth creation, income generation, and capital preservation, while maintaining a strong emphasis on risk management and disciplined portfolio construction.

Notably, private equity funds managed by Blackstone acquired a majority stake in ASK Asset & Wealth Management Group back in 2022.

Speaking about the development, Sameer Koticha, Founder & Chairman of the company, said, “This marks an important milestone in ASK’s evolution as a diversified asset and wealth management platform. For over four decades, ASK has navigated multiple market cycles with a strong, research-driven approach focused on capital protection and growth. The launch of ASK Mutual Fund now enables us to extend this legacy to a wider investor base.”

“With Mutual Funds, we complete our transition into a full-suite asset and wealth management platform, spanning PMS, AIFs, Private Wealth, and now Mutual Funds for retail and institutional investors,” he added.

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