 "Cosmea Financial gets Sebi nod for MF foray; UTI MF launches quant fund")
Cosmea Financial Holdings (CFH), promoted by Sam Ghosh, has received approval from the Securities and Exchange Board of India (Sebi) to sponsor a mutual fund, the company announced on Thursday. It has six months to complete the registration formalities under mutual fund regulations. The group is set to invest Rs 200 crore in its asset management company, focusing on Quant and Smart Beta strategies to cater to the evolving needs of Indian investors. Cosmea currently manages and advises assets worth Rs 1,000 crore across its capital market businesses, including broking, distribution, wealth management, and advisory.
UTI MF launches quant fund
UTI Mutual Fund on Thursday announced the launch of UTI Quant Fund, an equity scheme that will follow a quantitative investment strategy. "The fund employs a factor allocation model to dynamically assign weights to four key factors—momentum, quality, low volatility, and value—with the goal of generating alpha over the benchmark," the fund house said. According to the asset manager, the factor model can help manage volatility, resulting in better risk-adjusted returns. "Its flexibility across market cycles lends the ability to adjust exposure across factors based on market conditions and adds a layer of adaptability," it said.
ITI AML appoints Jatinder Pal Singh as CEO
ITI Asset Management Limited (AML) has appointed Jatinder Pal Singh as its chief executive officer (CEO). He was previously associated with Mahindra Manulife Investment Management as chief marketing officer. Prior to Mahindra Manulife Investment Management, he was associated with Morgan Stanley Investment Management as national head of sales and distribution, ITI AML said. He succeeds Hitesh Thakkar, who had been the acting CEO since August 2022.