Helios Capital Receives SEBI Approval for Mutual Fund Launch
Samir Arora, the founder and fund manager of Helios Capital, has announced that the market regulator SEBI has granted approval for the launch of Helios Mutual Fund. Arora shared the exciting news on Twitter, expressing his gratitude for the support and well-wishes to make this new venture successful.
In a recent interaction on the social media platform X (formerly known as Twitter), Arora provided more details about the forthcoming Helios Mutual Fund. When asked about the fund's name, he responded, "No creativity is allowed in the name of funds. It has to be Helios XX Fund with XX being one of the categories allowed - mid-cap, Flexicap, balanced, etc."
Arora also revealed plans for the first New Fund Offer (NFO). When a user inquired about the launch date of the first NFO, Arora stated, "Thank you. Should be in October."
Regarding the types of funds that Helios Capital would offer, Arora responded to another query, "We have said that we will not be passive-only active, so the exact opposite of them," referring to Zerodha's passive-only approach.
Arora expressed his commitment to SIP (Systematic Investment Plan) investors, sharing an image in which he, Mukesh Ambani (Reliance Industries chairman), and Nithin Kamath (Zerodha co-founder) were dubbed "New SIP players in Town."
Founded in 2005, Singapore-based Helios Capital Management manages global long-only equity funds and long/short funds with a focus on India. Arora previously led the Indian mutual fund division of Alliance Capital as its Chief Investment Officer.
Growing Competition in the AMC Industry
Helios Capital's entrance into the mutual fund industry comes at a time when several prominent players are expanding their footprint:
Reliance Group's Jio Financial Services and US-based BlackRock Inc have announced a 50:50 joint venture to launch asset management services in India.
Zerodha, a broking firm, has received final approval from SEBI to set up an asset management company. Industry veteran Vishal Jain will lead the new AMC business.
SIPs See High Inflows: Investors are increasingly relying on systematic investment plans (SIPs) to build long-term wealth, with July witnessing an all-time high monthly SIP inflow of ₹15,245 crore. This monthly contribution surpassed the inflow of ₹14,734 crore in June and ₹14,749 crore in May. The influx has led to a rise in the industry's Assets Under Management (AUM) to ₹46.37 lakh crore in July from ₹44.39 lakh crore in June-end.
As the mutual fund landscape evolves with new entrants and growing investor interest, the industry is witnessing a dynamic period of innovation and competition.