Yeh sunke mazaa aa gaya! SEBI ne finally Lakshya AMC ko operational hone ki permission de di hai. Aur guess what? Ye wahi team hai jinhone lagbhag 20 saal pehle India mein pehle ETFs jaise Nifty BeES aur Gold BeES launch kiye the. Ye log, matlab Sanjiv Shah, Rajan Mehta, aur Sanjay Gaitonde, ab dobara passive investment ke space mein ekdum taiyaar hain.
Toh inka plan kya hai? Dekho, India ka mutual fund market toh ₹81 lakh crore se bhi zyada bada ho gaya hai (Jan 2026 tak ka data hai), lekin jab baat passive funds ki aati hai, toh adoption abhi bhi bahut kam hai. Sirf 19% log passive strategies use kar rahe hain, jo developed countries ke comparison mein kaafi kam hai. Aur ETF market hi ₹8.38 lakh crore ka ho gaya hai (March 2025 tak). Toh yahan bahut bada scope hai, aur Lakshya AMC yehi gap fill karne aa rahi hai.
Inko support mil raha hai Wealth First Portfolio Managers ka, jo khud ek public listed company hai. Unki market cap ₹922 crore hai aur P/E 38.66 chal raha hai. Interesting baat ye hai ki ye log Ahmedabad se operate karne wale hain, jo usual Mumbai/Delhi se alag hai. Ahmedabad ek growing financial hub ban raha hai.
Market mein HDFC AMC aur Nippon India Asset Management jaise bade players toh hain hi, lekin SEBI bhi passive investing ko promote kar rahi hai. Goldman Sachs toh India ko ekdum future opportunity dekh raha hai, 6-7% GDP growth aur digitization ke karan.
Haan, thode risks toh hain, jaise ki bade AMCs ka P/E ratio kaafi high hai (35x to 44x). Aur April 1, 2026 se SEBI ke naye rules aa rahe hain jo transparency aur cost-efficiency par zyada focus karenge, jisse AMC business model par asar pad sakta hai. Par overall, ye ek exciting move hai.
Baaki details, jaise ki kon se products launch honge aur kab, woh jaldi hi batane wale hain. Toh track karna mat bhulna!