Know the whole story about Jio Financial Services vs Zerodha (Smallcase)
With the SEBI license for AMC, brokerage firm Zerodha has now got the go-ahead to launch mutual funds.
Nitin Kamat, Founder and CEO of Zerodha Broking Limited has given this information in a tweet.
This AMC is a joint venture between Zerodha Broking Limited and Wealth Management Company Smallcase.
Zerodha will now compete with Mukesh Ambani's Jio Financial Services in the asset management business.
Reliance Industries has recently demerged its financial business and is preparing for listing under the name Jio Financial Services.
Jio Financial Services has also joined hands with BlackRock, the world's largest asset management company.
Now the competition between Jio Financial Services and Zerodha in the asset management business will be worth watching.
Zerodha Founder and CEO Nitin Kamat said that we have six to eight crore unique mutual and equity investors.
Nitin Kamat said that we want to create simple funds and ETFs that all investors can easily understand.
Vishal Jain will be the CEO of this asset management company (JV of Zerodha and Smallcase).
This month many companies are preparing to launch their IPOs. See the list of Upcoming IPOs in August