Securities and Exchange Board of India (SEBI) approves Nuvama Wealth to launch mutual fund business

Exam-focused facts from the 13 June 2026 current affairs briefing.

Key facts

The Securities and Exchange Board of India (SEBI) has granted final approval to Nuvama Wealth Management to start mutual fund operations through Nuvama Asset Management Limited.
The asset management company will initially seek approvals to launch investment products under the Specialized Investment Fund (SIF) framework.
The Indian asset management industry has recorded Assets Under Management (AUM) surpassing ₹80 lakh crore.
Nuvama manages total client assets of over ₹4.5 trillion as of March 2026, serving more than 1.3 million affluent, High Net Worth Individual (HNI), and Ultra High Net Worth Individual (UHNI) clients.
The Nuvama Group's alternative asset management franchise holds client assets of over ₹12,500 crore as of 31 March 2026.