By IANS,
Kolkata : Non-banking financial services firm Peerless General Finance and Investment Co. Monday announced that it has got the preliminary in-principle approval from the market regulator Securities and Exchange Board of India (Sebi) to start an asset management company.
“We have got the preliminary SEBI nod for setting up a mutual fund business, which will allow us to leverage our expertise in managing depositors’ money and offering investors a wide array of financial solutions to fulfil their diverse financial needs,” Peerless managing director S.K. Roy said in a statement here.
Peerless has appointed Akshay Gupta as the chief executive officer of the proposed asset management company. Gupta is a former senior executive from ICICI-Prudential Mutual Fund.