Listed stockbroking firm Angel One is currently in the final leg of setting up an asset management company (AMC), following which the company will launch a passive mutual fund.

Chief growth officer of Angel One, Prabhakar Tiwari, told Inc42 that with the market regulator’s (SEBI) green light, Angel One will be locking horns with Zerodha and Groww in the highly underpenetrated passive mutual funds space in India. Notable, Angel One rivals, Zerodha and Groww, forayed into the market last year.

It is imperative to mention here that the share of exchange-traded funds (ETFs) or passive mutual funds in overall retail assets under management (AUM) is currently at a mere 2%.

However, the silver lining is that the same is on the rise. According to Motilal Oswal Financial Services, the share of exchange-traded funds stood at INR 9,700 Cr in FY23, growing at a CAGR of 56% since FY19, largely driven by online distributors.

In addition to venturing into the passive mutual funds space, Angel One has also clinched a five-year deal as one of the official partners for the Indian Premier League.

Reportedly, Angel One outbid rival Groww by paying INR 380 Cr to the BCCI in the online stockbroking category for the IPL’s sponsorship.

Without divulging the price details of the IPL deal, Tiwari stated that the stockbroking firm aims to reach out to at least 500 Mn Indians through on-ground advertisements as well as digital and print channels as IPL’s official partner.

While Groww and Zerodha have been making headlines with........

© Inc42