Sam Ghosh Ventures into Mutual Fund Industry

Mumbai: Sam Ghosh, a seasoned veteran of India's financial sector, is set to make a significant entry into the mutual fund industry with his own venture. The Securities and Exchange Board of India (Sebi) has granted approval to Cosmea Investments, the holding company for Ghosh's financial ventures, to launch its mutual fund business.

The company had applied for a mutual fund license in May 2024, and it is expected to take about six months to commence operations. Initially, the group plans to invest Rs 200 crore into the fund management business, offering products in both active and passive sub-segments of the industry.

Expanding Financial Services Portfolio

Currently, the group has Sebi's approval to run portfolio management services (PMS) and alternate investment fund (AIF) businesses. Under its PMS arm, the group manages approximately Rs 170 crore. The AIF business, though relatively new, is beginning to gain traction. Additionally, the group holds a license to operate a fund management business in the GIFT City.

Cosmea's capital markets division provides a range of services, including broking & distribution, wealth management, and advisory. Collectively, its capital market businesses manage and advise assets worth about Rs 1,000 crore.

A Stellar Career in Financial Services

Ghosh's illustrious career includes leading Bajaj's insurance ventures in India, in partnership with global major Allianz, in the early 2000s. He later moved to Anil Ambani’s Reliance Capital in 2008, where he led the financial services entity that grew to become a major player in the mutual fund, broking, and commercial finance sectors. After leaving the group in 2017, Ghosh took the helm of Bharti (Airtel) group’s financial services operations before setting up his own venture.