Mumbai, January 2, 2025: Cosmea Financial Holdings (CFH), promoted by Sam Ghosh, has secured approval from the Securities and Exchange Board of India (SEBI) to sponsor a mutual fund. The approval marks a significant milestone in Cosmea’s journey to expand its presence in India’s rapidly growing financial markets.
Cosmea had filed its application with SEBI in May 2024 and now has six months to complete the registration formalities under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
The group is set to invest ₹200 crore in its asset management company, with a focus on Quant and Smart Beta strategies to cater to the evolving needs of Indian investors. It has also entered into a distribution agreement with WisdomTree, a global ETF and ETP sponsor managing assets exceeding USD 100 billion.
Cosmea currently manages and advises assets worth ₹1,000 crore across its capital market businesses, including Broking & Distribution, Wealth Management, and Advisory. The group recently expanded its footprint by acquiring a CAT III Alternate Investment Fund (AIF) License and a Fund Management Entity License in GIFT City.
With ambitious plans to achieve Assets Under Management (AUM) of ₹15,000 crore within three years, Cosmea aims to leverage its expertise in technology-driven growth through its SuperApp, physical distribution network, and strategic partnerships.
Commenting on the development, Sam Ghosh, Founder and Chairman, Cosmea Financial Holdings said, “We are thrilled to receive SEBI’s approval to enter the mutual fund business, which is a key milestone in our journey to transform into a diversified financial services group. With our investment in cutting-edge technology and partnerships with global leaders like WisdomTree, we aim to redefine investment solutions for Indian investors. Our focus on Quant and Smart Beta strategies will provide innovative and data-driven approaches to wealth creation. This is just the beginning of our long-term vision to build a technology-first, customer-centric financial ecosystem”
Cosmea Investment Private Limited (CIPL) is the holding company for all financial services businesses under the Cosmea Group. The company operates across three key verticals:
Capital Markets: Providing comprehensive services, including Broking & Distribution, Wealth Management, and Advisory. Its SuperApp is a new-generation, technology-driven digital platform offering seamless investment solutions.
Asset Management: Managing over ₹170 crore in Portfolio Management Services (PMS), Cosmea recently secured a CAT III AIF License and a Fund Management Entity License in GIFT City. The company is focused on launching domestic and offshore businesses within the next 6-9 months, with a digital-first approach to asset management.
Insurance: In partnership with Qatar Insurance Company (QIC) and other investors, Cosmea has applied for a General Insurance License. The group aims to leverage its distribution network and management expertise to build a strong presence in the insurance sector.
With its diversified offerings, experienced leadership team, and focus on technology, Cosmea Financial Holdings is strategically positioned to tap into the immense growth potential of India’s financial markets.