Motilal Oswal gets nod to start mutual fund

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New Delhi:Motilal Oswal Friday said it has received an in-principle approval from market regulator Securities and Exchange Board (SEBI) to set up a mutual fund business.

The company's wholly-owned subsidiary, Passionate Investment Management Pvt. Ltd, will be responsible for the mutual fund business, an official statement said.

Motilal Oswal is a diversified financial services company, and is engaged in wealth management, equity broking, commodity broking, distribution of third party products, investment banking and venture capital management.
Source: IANS
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