Choice AMC Wins SEBI Final Approval for Mutual Fund Operations
Why in the news
Mumbai-based Choice International Ltd cleared the last regulatory step for its fund arm.
Key facts
- Approving authority: SEBI (final nod).
- Entity: Choice AMC, subsidiary of Choice International Ltd.
- First products: passive funds such as index funds and exchange traded funds (ETFs).
Significance
- Passive products are low-cost, diversified options for retail investors.
- Choice Group now spans broking, lending, investment banking and funds.
Exam angle
- Regulator of AMCs: SEBI.
- Related terms: AMC, passive funds, index fund, ETF.