Master Trust subsidiary gets SEBI nod for mutual fund sponsorship

Master Trust Limited announced today that its wholly owned subsidiary, Master Capital Services Limited, has received in-principle approval from the Securities and Exchange Board of India (SEBI) to act as a sponsor for a mutual fund. This approval enables Master Capital Services Limited to launch various schemes, including those under the Specialized Investment Fund category.

This follows an earlier intimation regarding the subsidiary's application to SEBI. With this in-principle approval, Master Capital Services Limited will proceed to establish an asset management company and a trustee company, adhering to the applicable regulatory framework. The final registration of the mutual fund remains contingent upon fulfilling further requirements stipulated by SEBI.