Peerless gets regulator’s nod for asset management company

December 22nd, 2008 - 7:59 pm ICT by IANS  

Kolkata, Dec 22 (IANS) Non-banking financial services firm Peerless General Finance and Investment Co. Monday announced that it has got the preliminary in-principle approval from the market regulator Securities and Exchange Board of India (Sebi) to start an asset management company.”We have got the preliminary SEBI nod for setting up a mutual fund business, which will allow us to leverage our expertise in managing depositors’ money and offering investors a wide array of financial solutions to fulfil their diverse financial needs,” Peerless managing director S.K. Roy said in a statement here.

Peerless has appointed Akshay Gupta as the chief executive officer of the proposed asset management company. Gupta is a former senior executive from ICICI-Prudential Mutual Fund.

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