SEBI Approves AlphaGrep's In-Principle License for Mutual Fund

The whole market is buzzing with a single piece of news: "AlphaGrep receives SEBI's in-principle approval to launch mutual funds in India." 

AlphaGrep Securities, a leading firm in quantitative investing, has received nod from the Securities & Exchange Board of India (SEBI) to sponsor a new mutual fund. This is a very big step for AlphaGrep as it plans to bring its tech-driven investment strategies to a wider group of retail and institutional investors in India.

Founded in 2010 by Mohit Mutreja and Parshant Mittal, AlphaGrep has grown into a global player in the world of systematic trading. The firm currently manages over Rs.8,500 crore worldwide. Its Indian arm, AlphaGrep Investment Management (AGIM), which already manages Rs.2,000 crore, will house the new mutual fund. AGIM serves more than 500 clients through its two SEBI-registered Category III AIFs, a long-only PMS, and an offshore AIF at GIFT City.

The New Fund Offer will follow AlphaGrep’s proven approach, using advanced mathematical models and machine learning to build and manage portfolios.

The new mutual fund will offer both equity and hybrid investment options designed to meet the specific needs of investors.

"We are grateful to SEBI for its approval," stated Bhautik Ambani, CEO of AlphaGrep Investment Management.” "This approval furthers our goal of offering smart and data-driven investment options to our investors."

AlphaGrep boasts over 400 employees across 10 offices worldwide and is widely recognized for their trading and market-making expertise. Launching of their mutual fund will depend upon satisfying SEBI's final regulatory requirements.

Keep an eye out for updates as AlphaGrep continues its services expansion and provides innovative investment options to the Indian market.