Securities and Exchange Board of India

Carnelian Asset Management Secures SEBI Mutual Fund Approval

Carnelian Asset Management & Advisors has secured SEBI approval to launch a mutual fund business, enabling it to offer active and passive funds across equity, debt and hybrid categories to retail investors, alongside its PMS, AIFs and offshore strategies. With over ₹18,300 crore in AUM and 8,600+ clients served via 710+ partners as of June 30, 2026, the firm positions itself to capitalize on India's expanding mutual fund industry, which totals over ₹82 lakh crore AUM and tens of millions of folios and SIPs, while founder Vikas Khemani emphasizes deeper penetration beyond metros and growth opportunities in rural India.