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News18
4 days ago
- Business
- News18
The Wealth Company gets Sebis final nod to launch mutual fund business
New Delhi, Jul 18 (PTI) The Wealth Company Asset Management Holdings, a part of the Pantomath Group, on Friday said it has received the final approval from markets regulator Sebi to launch its mutual fund business. With this, the company formally enters the Rs 74 lakh crore mutual fund industry under its new identity, The Wealth Company Mutual Fund. 'Sebi granted the Certificate of Registration to the company on July 18, 2025, enabling it to commence operations as a registered Asset Management Company (AMC)," the company said in a statement. As India's youngest asset management company (AMC), The Wealth Company Mutual Fund, aims to democratise wealth creation for retail investors across the country with a strong focus on Tier-3 and beyond markets, which have been witnessing burgeoning economic activity and rising surplus incomes that deserve to be channelled in active fund management. 'We believe in democratising wealth creation by offering high-quality, outcome-oriented products and empowering our MFD partners to serve investors effectively, particularly in the promising Tier-3 and beyond markets," Madhu Lunawat, Founder, MD and CEO of The Wealth Company, said. At present, there are close to 50 mutual fund houses operating in the country. PTI SP TRB Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
4 days ago
- Business
- Economic Times
The Wealth Company receives Sebi approval to commence mutual fund business
The Wealth Company gets Sebi's nod for its mutual fund business. It will operate as The Wealth Company Mutual Fund. The Wealth Company Asset Management Holdings Private has received final approval from Sebi to launch its mutual fund business. With this regulatory milestone, The Wealth Company formally enters the Rs 74.41 trillion mutual fund industry under its new identity: The Wealth Company Mutual Fund. Sebi granted the Certificate of Registration to the company on July 18, enabling it to commence operations as a registered Asset Management Company (AMC). According to a press release, The Wealth Company Mutual Fund aims to bring a unique proposition to the market—combining the rigorous, bottom-up, data-intensive research methodologies typically seen in private equity with the simplicity and accessibility required by retail investors. Also Read | NFO Insight: Capitalmind Mutual Fund's flexi cap fund opens for subscription. Will it help to manage current market volatility? As India's youngest asset management company (AMC), The Wealth Company Mutual Fund aims to democratize wealth creation for retail investors across the country, with a strong focus on Tier 3 and beyond markets. These regions have been witnessing burgeoning economic activity and rising surplus incomes—capital that deserves to be channeled into active fund management to participate in the country's promising development outcomes under the Viksit Bharat agenda. The AMC will leverage the Pantomath Group's unique strengths and deep understanding of the investment ecosystem, alongside robust risk management fund house will continue to prioritize businesses aligned with India's macroeconomic priorities, including those contributing to the Make in India mission, sustainable industrial development, and digital transformation. Staying true to its principles, the company will consciously avoid sectors that are environmentally irresponsible or misaligned with the broader vision of inclusive and responsible growth. This approach is further strengthened by extensive back-testing and AI-powered insights, ensuring investment decisions are rooted in deep analysis and empirical Wealth Company's foray into mutual funds builds upon its remarkable success in the alternate investment space, where it has emerged as one of the fastest-scaling platforms in recent to the press release, the company has, in a short span, built a robust portfolio across equity and structured strategies, attracted marquee investors, and delivered consistent performance. This experience in managing sophisticated investment products has laid a strong foundation for its mutual fund venture—positioning the fund house to offer both innovation and stability from day one. Also Read | Parag Parikh Flexi Cap Fund and HDFC Flexi Cap Fund among top 7 flexicap mutual funds for July 2025 The Wealth Company has been a formidable player in the alternate investments space, contributing significantly to the management of over Rs 10,000 crore in client assets under the group's purview. These assets are spread across four themed Alternate Investment Funds (AIFs), catering to high net-worth individuals (HNIs) across India and global markets.'Over the years, mutual funds have emerged as the most trusted and optimal investment platform for retail investors. As the country progresses toward its Viksit Bharat agenda, an increasing number of retail investors have an opportunity to play a vital role in nation-building and the wealth creation that will follow,' said Madhu Lunawat, Founder, MD, and CEO of The Wealth Company Asset Management Holdings further added, 'Our entry into mutual funds is driven by a commitment to bring the same disciplined, data-driven investment philosophy honed in our alternative ventures to a wider audience. We believe in democratizing wealth creation by offering high-quality, outcome-oriented products and by empowering our MFD partners to serve investors effectively, particularly in the promising Tier 3 and beyond markets, in alignment with India's Viksit Bharat agenda.'
Time of India
4 days ago
- Business
- Time of India
The Wealth Company receives Sebi approval to commence mutual fund business
The Wealth Company Asset Management Holdings Private has received final approval from Sebi to launch its mutual fund business . With this regulatory milestone, The Wealth Company formally enters the Rs 74.41 trillion mutual fund industry under its new identity: The Wealth Company Mutual Fund. Sebi granted the Certificate of Registration to the company on July 18, enabling it to commence operations as a registered Asset Management Company (AMC). According to a press release, The Wealth Company Mutual Fund aims to bring a unique proposition to the market—combining the rigorous, bottom-up, data-intensive research methodologies typically seen in private equity with the simplicity and accessibility required by retail investors. Explore courses from Top Institutes in Select a Course Category Data Analytics Digital Marketing Artificial Intelligence Leadership Operations Management Finance CXO healthcare MBA Others Public Policy Project Management Design Thinking Technology MCA PGDM Product Management Healthcare Management Data Science others Degree Data Science Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details Also Read | NFO Insight: Capitalmind Mutual Fund's flexi cap fund opens for subscription. Will it help to manage current market volatility? As India's youngest asset management company (AMC), The Wealth Company Mutual Fund aims to democratize wealth creation for retail investors across the country, with a strong focus on Tier 3 and beyond markets. These regions have been witnessing burgeoning economic activity and rising surplus incomes—capital that deserves to be channeled into active fund management to participate in the country's promising development outcomes under the Viksit Bharat agenda. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search ads Search Now Undo The AMC will leverage the Pantomath Group 's unique strengths and deep understanding of the investment ecosystem, alongside robust risk management practices. The fund house will continue to prioritize businesses aligned with India's macroeconomic priorities, including those contributing to the Make in India mission, sustainable industrial development, and digital transformation. Staying true to its principles, the company will consciously avoid sectors that are environmentally irresponsible or misaligned with the broader vision of inclusive and responsible growth. Live Events This approach is further strengthened by extensive back-testing and AI-powered insights, ensuring investment decisions are rooted in deep analysis and empirical validation. The Wealth Company's foray into mutual funds builds upon its remarkable success in the alternate investment space, where it has emerged as one of the fastest-scaling platforms in recent years. According to the press release, the company has, in a short span, built a robust portfolio across equity and structured strategies, attracted marquee investors, and delivered consistent performance. This experience in managing sophisticated investment products has laid a strong foundation for its mutual fund venture—positioning the fund house to offer both innovation and stability from day one. Also Read | Parag Parikh Flexi Cap Fund and HDFC Flexi Cap Fund among top 7 flexicap mutual funds for July 2025 The Wealth Company has been a formidable player in the alternate investments space, contributing significantly to the management of over Rs 10,000 crore in client assets under the group's purview. These assets are spread across four themed Alternate Investment Funds (AIFs), catering to high net-worth individuals (HNIs) across India and global markets. 'Over the years, mutual funds have emerged as the most trusted and optimal investment platform for retail investors. As the country progresses toward its Viksit Bharat agenda, an increasing number of retail investors have an opportunity to play a vital role in nation-building and the wealth creation that will follow,' said Madhu Lunawat, Founder, MD, and CEO of The Wealth Company Asset Management Holdings Private. She further added, 'Our entry into mutual funds is driven by a commitment to bring the same disciplined, data-driven investment philosophy honed in our alternative ventures to a wider audience. We believe in democratizing wealth creation by offering high-quality, outcome-oriented products and by empowering our MFD partners to serve investors effectively, particularly in the promising Tier 3 and beyond markets, in alignment with India's Viksit Bharat agenda.'
Time of India
6 days ago
- Health
- Time of India
Indian-origin physician Sanjay Mehta pleads guilty to illegally prescribing opioids that killed two in US; had little to no experience
An Indian-origin physician, Sanjay Mehta, pleaded guilty to unlawfully prescribing opioids, including to two poeple who fatally overdosed. He admitted that he procured the opioids by fraud. Tired of too many ads? go ad free now The 57-year-old man from West Virginia's Shady Spring pleaded guilty to three counts of obtaining a controlled substance by fraud after he admitted to unlawfully prescribing opioids while working at HOPE Clinic, a pain management clinic, according to a news release from the US Attorney's Office for the Southern District of West Virginia. Prosecutors said Mehta worked at multiple sites that the pain management clinic operated from November 2012 through May 2015 though he had 'little to no experience in dealing with chronic pain patients and no training in prescribing Schedule II narcotics.' Mehta admitted to writing prescriptions for three different customers with no legitimate medical purpose, including prescriptions for oxycodone, methadone and Roxicodone. Prosecutors said two of the three patients died of opioid intoxication within days of receiving their prescriptions. Mehta is scheduled to be sentenced on October 31 and faces a maximum of four years in prison, up to three years of supervised release and a maximum $750,000 fine. He also agreed to surrender his Drug Enforcement Administration Certificate of Registration, not oppose the revocation of his registration to dispense controlled substances and not apply for re-registration. Mehta was initially indicted in 2018 along with others associated with HOPE Clinic and Patients, Physicians and Pharmacists Fighting Diversion, which managed HOPE Clinic's daily operations. According to the indictment, from November 2010 to June 2015, Mehta and his associatesconspired to distribute oxycodone and other Schedule II controlled substances outside the usual course of professional practice. Tired of too many ads? go ad free now Mehta and six other physicians pleaded guilty to separate charges in lieu of the indictment. PPPFD owner-operator Mark T. Radcliffe, 68, of Shady Spring and co-defendant Michael T. Moran, 60, of Covington, Virginia, are scheduled for trial on Oct. 6, 2025. HOPE Clinic operated in Beckley, Beaver and Charleston, West Virginia, and Wytheville, Virginia. 'It is readily evident that the Southern District of West Virginia has been severely impacted by the opioid crisis. The United States Attorney's Office is committed to bringing to justice those whose criminal conduct contributes to this crisis and worsens its most tragic consequences,' said acting US attorney Lisa G. Johnston. 'This commitment stems from the recognition that such actions harm patients and undermine efforts to combat the epidemic. '
India Today
6 days ago
- Health
- India Today
Indian-origin doctor pleads guilty as prescribed opioids kill 2 in US
An Indian-origin doctor has pleaded guilty to federal charges in connection with his unlawful prescription of powerful opioids, which led to the deaths of two patients due to overdose. The doctor, Sanjay Mehta, had minimal experience with chronic pain patients and no training in prescribing Schedule-II narcotics when he was recruited at a clinic in Virginia where he worked between 2012 and 2015, according to US 57-year-old doctor from Shady Spring, West Virginia, who was first indicted in 2018, appeared before a court and pleaded guilty to three counts of aiding and abetting the obtaining of a controlled substance by fraud."Mehta admitted to unlawful prescription practices at HOPE (Hitech Opioid Pharmachovigilance Expertise) Clinic, a purported pain management clinic that operated in Beckley, Beaver and Charleston, West Virginia, and Wytheville, Virginia," the US Attorney's Office, Southern District of West Virginia said in a statement. According to the court documents and statements, the 57-year-old lacked both experience and proper training in treating chronic pain or prescribing Schedule II narcotics, which include highly addictive other physicians also pleaded guilty to separate charges in lieu of the indictment."Mehta worked at the Beckley HOPE Clinic from November 2012 through July 2013 and the Beaver HOPE Clinic from August 2013 through May 2015. Mehta had little to no experience in dealing with chronic pain patients and no training in prescribing Schedule II narcotics for the treatment of chronic pain when he was recruited to work at HOPE Clinic," the statement DOCTOR PRESCRIBED POWERFUL OPIOIDS WITHOUT NEEDAs part of his plea, Mehta admitted to writing unjustified prescriptions for oxycodone, methadone, and Roxicodone (a branded form of oxycodone hydrochloride) to three different patients at the clinic."Two of the three customers died of opioid intoxication within days of receiving their unlawful prescriptions," the statement quantum of punishment will be announced on October faces a maximum penalty of four years in prison, up to three years of supervised release, and a $750,000 fine (approximatelty Rs 6.2 crore). Mehta also agreed to surrender his Drug Enforcement Administration Certificate of Registration, not oppose the revocation of his registration to dispense controlled substances, and not apply for re-registration, according to the was initially indicted in 2018 along with others associated with HOPE Clinic and Patients, Physicians and Pharmacists Fighting Diversion (PPPFD), which managed HOPE Clinic's daily operations, it indictment alleges that from November 2010 to June 2015, the defendants conspired to distribute oxycodone and other Schedule II-controlled substances, not for legitimate medical purposes and outside the usual course of professional practice, according to the owner-operator Mark T Radcliffe, 68, of Shady Spring, and co-defendant Michael T Moran, M D, 60, of Covington, Virginia, are scheduled for trial on October 6, 2025, the statement read.- Ends
