SEBI Approves Lakshya Asset Management Company for Mutual Funds
Why in the news
The Securities and Exchange Board of India (SEBI) gave its approval in March 2026 for Lakshya Asset Management Company to start a mutual fund business.
Key facts
- Regulator: SEBI, which licenses asset management companies (AMCs).
- Base: first AMC headquartered in Ahmedabad.
- Sponsor: Wealth First Portfolio Managers.
- Leadership: people from Benchmark AMC, including Sanjiv Shah and Rajan Mehta.
- Focus: passive and quantitative strategies.
Why it matters
| Point | Detail |
|---|---|
| Location | Ahmedabad, outside the usual Mumbai hub |
| Heritage | Team linked to Benchmark AMC, known for India’s first index ETF |
About the AMC
Lakshya is a new asset management company, meaning a firm that runs mutual fund schemes. Its promoters bring experience from Benchmark AMC, which launched India’s first index ETF and the world’s first money market ETF according to one report.
Exam angle
- Remember the first-from-Ahmedabad tag, the sponsor and the regulator.
- An AMC runs mutual fund schemes and needs SEBI approval to start.