Carnelian gets SEBI nod to launch mutual funds in India
Carnelian Asset Management & Advisors just got the Securities and Exchange Board of India's (SEBI) nod to launch its own mutual funds in India.
Started in 2019 by Vikas Khemani, Manoj Bahety, and Swati Khemani, the company is moving beyond portfolio management and alternative investments to offer new options for everyday investors: think active and passive funds across equity, debt, and hybrid categories.
India mutual fund assets exceed ₹82L/cr
Carnelian already manages more than ₹18,300 crore for more than 8,600 clients with help from 710-plus partners nationwide.
According to Khemani, there's big potential for mutual funds to reach smaller towns and rural areas.
Their move comes as India's mutual fund scene is booming, with total assets hitting over ₹82 lakh crore and around 10 crore Systematic Investment Plan (SIP) accounts as of June 2026, showing more people are getting financially savvy and investing regularly.