Old Bridge Cap gets Sebi nod for MF launch

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MUMBAI:

Kenneth Andrade

, who left IDFC MF eight years ago to start a fund management business for wealthy investors, is entering the mutual fund space again.
Andrade’s Old Bridge Capital has received the regulatory nod to launch a fund business in an already crowded space that recently saw the entry of Bajaj Finserv and Zerodha. Jio Blackrock too is preparing for a launch soon. Recently, Helios Capital, founded by fund manager Samir Arora, also received a Sebi nod to enter the mutual fund business.
The recent regulatory nods for launching mutual fund businesses would take the total number of fund houses to near the 50 mark, with

SBI MF

, ICICI

Prudential MF

and HDFC MF leading the table in terms of assets under management.