ASK Asset and Wealth Management Secures SEBI Nod to Foray into Mutual Fund Business

ASK Asset and Wealth Management Group has been granted approval by the Securities and Exchange Board of India to operate as an investment manager for a mutual fund business, marking a regulatory milestone for the firm. 

SEBI Approval Enables ASK to Start Mutual Fund Operations 

The SEBI licence allows ASK to move beyond its traditional portfolio management services and alternative investment funds. With the new permission, the firm can offer mutual fund products to retail investors and institutions, complementing its existing private wealth and high net worth services.  

The company plans to launch schemes covering active equity, passive strategies, hybrid structures, and fixed income assets. 

Expansion of Product Suite 

ASK intends to structure its mutual fund offerings around long term wealth creation, income generation and capital preservation. Emphasis will be placed on risk management and disciplined portfolio construction.  

The proposed platform will cater to a broader investor base, providing access to diversified strategies that were previously limited to high-net-worth clients. 

Asset Base and Ownership 

ASK has operated in India’s equity markets for over 40 years, primarily managing money for high net worth and ultra-high net worth clients.  

As of December 31, 2025, the group managed assets exceeding ₹82,000 crore. In 2022 private equity funds managed by Blackstone acquired a majority stake in the firm, providing additional capital support for the new mutual fund venture. 

Read More: Mutual Funds’ Top 10 IT Bets Shrink by Over ₹50,000 Crore in Notional Value as AI Disruption Fears Deepen! 

Conclusion 

SEBI’s approval permits ASK Asset and Wealth Management to launch a mutual fund business, expanding its service range beyond PMS and AIFs. The firm’s extensive asset base and backing from Blackstone position it to serve a wider investor audience across multiple fund categories. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.