Zerodha Fund House AUM soars by Rs 500 cr in 40 days, hits Rs 1,000 cr mark

Zerodha Fund House, a joint venture between Zerodha and smallcase, witnessed substantial growth with its Assets Under Management (AUM) surging Rs 500 crore in just 40 days, taking the total tally to cross Rs 1,000-crore mark.

The fund house touched the asset base of Rs 500 crore on February 15.

The first Rs 500 crore in AUM was added in over three months and the increase from Rs 500 crore to Rs 1,000 crore took just 40 days.

"Heartening to see investor trust continue to compound at @ZerodhaAMC (a smallcase-Zerodha JV) with assets doubling to Rs 1,000+ crore in just 40 days. It's a reflection of the growing appetite for index-based investment products & we are grateful for all the feedback & ideas," Vasanth Kamath, Founder and CEO, smallcase announced on X(formerly Twitter).

 

"Also, very proud of the amazing team at ZFH that's innovating with industry-first products while charting our own unique path by building differently with a direct-only, passive-only approach," he added.

After getting capital markets regulator Sebi's approval, Zerodha Fund House forayed into the mutual fund space with the launch of passive funds in October 2023. Before that, in April last year, Zerodha formed a JV with Amazon-backed wealth management firm smallcase to build an asset management company.

At present, 45 mutual fund players are managing an asset base of over Rs 50 lakh crore.

 

SRM Contractors IPO subscribed 86.6 times on final day 
 

The initial public offering (IPO) of SRM Contractors got subscribed 86.57 times on the last day of bidding on Thursday. The Rs 130.20 crore IPO received bids for 3,75,705,680 shares against 4,340,100 shares on offer, according to NSE data. The quota for non-institutional investors received 214.93 times subscription while the portion meant for qualified institutional buyers got subs­cribed 59.59 times. The category for retail individual investors fetched 46.97 times subscription. The IPO of fresh issue of up to 6,200,000 equity shares had a price range of Rs 200-210 a share. PTI

 

Gold shines, logs best month in more than a year 
 

Gold prices climbed on Thursday and were set to log their best month in over a year, bolstered by strong safe-haven demand, US interest rate cut expectations and central bank buying. Spot gold gained 0.5 per cent to $2,204.99 per ounce as of 10.20 am. EDT (1420 GMT), eyeing its best month since November 2022 gaining around 8 per cent so far, and a second straight quarterly rise. US gold futures edged 0.7 per cent higher to $2,204.80. While there are some indications that inflation is running hotter than policymakers would like, that doesn’t necessarily explain the high valuations for gold right now, said Everett Millman, chief market analyst with Gainesville Coins. Reuters