Madhu Lunavat has received approval from SEBI to start a mutual fund business. Madhu is the first woman in the country to start a mutual fund business. It is seen as an important stage of the rapidly growing mutual fund industry in India. Madhu is the co-founder and executive director of the Pentomath Group. Currently, India has dominated the mutual fund industry of more than Rs 70 lakh crore. This can be gauged from the fact that there are a total of 46 asset management companies in India, out of which only one company Edelweiss’s boss is a woman. His name is Radhika Gupta, who is the MD and CEO of Edelweiss.
Has held responsibility in many big companies
Before becoming a entrepreneur, Madhu has handled important responsibilities in many big companies. These include Infosys, ASREC and Edelweiss Group. She has been a CFO at Edelweiss ARC. Madhu’s company received SEBI certificate of registration on 18 July. The wealth mutual fund company will have a fossa on comprehensive research based investment. This company will launch easy products keeping in mind the needs of investors.
Tier-3 and small towns will focus
The wealth company Mutual Fund Company’s focus will be on Tier-3 and small cities. People’s income is increasing rapidly in these cities. Madhu’s company wants to take advantage of this opportunity. Earlier, the wealth company has achieved good success in the Alternative Investment Space. Madhu said, “Mutual funds have become the most trusted source for general investors for the last few years.” He said that he would try to carry forward this trend.
Madhu is a chartered accountant by profession
Madhu is a chartered accountant. He has said that getting the approval of SEBI for a woman’s mutual fund business is not just a matter of honor for her, but it is an honor for every woman who wants to create a financial landscape, wants to lead it and decide its direction. Madhu’s AMC will make full use of technology to make its access to remote areas of the country. This company will give priority to the interests of customers.