Alpha Alternatives Fund Advisors seeks Mutual Fund licence, files application with Sebi

Alternative asset management platform Alpha Alternatives Fund Advisors LLP has become the latest entity to approach Sebi for a mutual fund (MF) licence. It has joined the list of seven entities, which are awaiting the capital markets regulator's approval to enter the segment.

According to the latest update with the Securities and Exchange Board of India (Sebi), Alpha Alternatives filed its applications with the regulator on November 8, 2022.

Alpha Alternatives is India's leading multi-asset class alternative asset management platform. It has multiple strategies across absolute-return, credit, commodities, value and quant-driven equities, and fixed income.


Apart from Alpha Alternatives, applications of six companies -- Unifi Capital, Alchemy Capital Management, Angel One, Emkay Global Financial Services, Abira Securities and Wizemarkets Analytics are under consideration as of December 2022.

Four companies, Bajaj Finserv, Zerodha Broking, Helios Capital Management PTE Ltd and Old Bridge Capital Management, have received Sebi's in-principle approval from August 2021 to October 2022 and the approval for final registration is under consideration.

Old Bridge Capital Management was the latest company to obtain Sebi's in-principle nod on October 12, last year.

A flurry of applications for a mutual fund licence was seen after the market regulator allowed fintech firms to enter the space.

At present, the mutual fund industry has 42 players who together manage assets of nearly Rs 40 lakh crore.