Cosmea gets SEBI nod to expand into mutual fund market

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Cosmea oversees assets across capital market activities, including broking, wealth management, distribution, and advisory services. Credit: one photo/Shutterstock.

Cosmea Financial Holdings (CFH) has been granted approval by the Securities and Exchange Board of India (Sebi) to sponsor a mutual fund.

The firm, which submitted its application in May last year, now has a six-month window to complete the necessary registration formalities as per the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.

The company is expected to invest Rs2bn ($23.3m) in its asset management venture, focusing on Quant and Smart Beta strategies to meet the demands of Indian investors.

Furthermore, Cosmea has forged a distribution partnership with WisdomTree, a global ETF and ETP sponsor with assets exceeding $100bn.

Currently, Cosmea manages and advises assets totalling Rs10bn ($116.8m) across various capital market operations, including broking and distribution, wealth management, and advisory services.

The group has recently broadened its services by obtaining a CAT III Alternate Investment Fund (AIF) licence and a fund management entity licence in GIFT City.

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CFH founder and chairman Sam Ghosh said: “With our investment in cutting-edge technology and partnerships with global leaders like WisdomTree, we aim to redefine investment solutions for Indian investors. Our focus on Quant and Smart Beta strategies will provide innovative and data-driven approaches to wealth creation.

“This is just the beginning of our long-term vision to build a technology-first, customer-centric financial ecosystem.”

Cosmea Investment Private Limited (CIPL), the financial services holding company of the Cosmea Group, operates in three primary sectors: capital markets, asset management, and insurance.

In capital markets, it provides an array of services, including broking and distribution, wealth management, and advisory. Its SuperApp is a tech-driven digital platform that streamlines investment processes.

Having secured a CAT III AIF Licence and a Fund Management Entity Licence in GIFT City, Cosmea is now focused on launching both domestic and international businesses within the next six to nine months, adopting a digital-first strategy.