Lakshya Mutual Fund: Lakshya Asset Management Company (Lakshya AMC) has received SEBI approval (Securities and Exchange Board of India) to start the mutual fund business.

The new AMC is sponsored by Wealth First Portfolio Managers Ltd. Wealth First is a publicly listed wealth management company. Its shares are listed on both the exchanges, NSE and BSE.

The SEBI approval to launch mutual fund business marks a significant milestone in its vision to build an innovation-led asset management platform in India.

Lakshya Mutual Fund said that it has onboarded key members of the founding team of Benchmark Asset Management Company: Sanjiv Shah, Rajan Mehta and Sanjay Gaitonde.

They are widely regarded as pioneers of Exchange Traded Funds (ETFs) in India.

Benchmark AMC introduced several industry-first products, including India’s first ETF, Nifty BeES; India’s first Gold ETF, Gold BeES (World’s First Gold ETF to be filed with regulators); and the world’s first money market ETF, Liquid BeES.

Founded in 2001, Benchmark was also the first Mutual fund in India which focused exclusively on passive and quantitative investment, which is one of the fastest-growing segments today.

The Benchmark AMC product suite was subsequently acquired by Nippon Life India Asset Management from Goldman Sachs Asset Management.

“Our focus in this AMC will be to identify gaps in the investment landscape and build products that effectively address those needs. We believe there is significant opportunity to create differentiated offerings that deliver meaningful value to investors,” Ashish Shah, Managing Director, Wealth First Portfolio Managers, said.

Lakshya Mutual Fund will also become the first asset management company to be headquartered in Ahmedabad.

India’s mutual fund industry has expanded dramatically from about Rs 1 lakh crore in assets under management in 2001 to over Rs 82 lakh crore in early 2026.
 

Demat Accounts In India: The number of women investors is increasing rapidly in India. According to a recent customer trend from Axis Direct, women-led demat account openings have surged 129 per cent since 2021.

The latest data points to a strong rise in financial participation and inclusion in India which is projected to remain the world's fastest-growing major economy in the world.

As per Axis Direct, mutual fund (lumpsum) (49 per cent) and systematic investment plans (33 per cent) account for the majority of total investments by women, underscoring a strong preference for disciplined, long-term financial planning over short-term market exposure.

Investments in direct equities, derivatives and commodities remain minimal, further reflecting a risk-aware investment approach. This trend reflects a focus on consistency, diversification, and goal-oriented investing.

The preference for systematic investing is particularly pronounced among women in the 26-45 age group, who are leading SIP adoption. Younger investors below 25 and those above 45 tend to favour mutual fund (lumpsum), reinforcing their role as a trusted and accessible investment avenue across different life stages.

Nearly 64 per cent of equity orders placed by women are executed online, Axis Direct data showed.

"These trends collectively point to an evolving investment narrative wherein women are not only entering the markets in greater numbers but are also shaping a more disciplined and resilient investing culture," Axis Direct, which is a subsidiary of Axis Bank, said.

Axis Direct, with over 5 million customers, offers investment solutions like equities, mutual funds, SIPs, IPOs, derivatives, bonds, NCDs, ETFs, and FDs.

Mutual Fund Investment: Capital market regulator SEBI has proposed to introduce gift cards or gift prepaid payment instruments (PPIs) for investments in mutual funds.

SEBI said that the move is aimed at improving financial inclusion as it will help in onboarding of new investors.

As per the SEBI's proposal, the purchaser of Gift PPI can gift the prepaid payment instrument to a recipient. The receiver will use the gift card to invest in a mutual fund cheme.

SEBI has said that a cap of Rs 50,000 per investor should be in place for investments made through gift cards. These PPIs will be funded only through electronic bank transfer or UPI from an Indian bank account with a validity period of one year from date of issuance.

"The RTAs, on behalf of AMCs will track how much each investor has invested per AMC per financial year through Gift PPI, e-wallets and cash. If the transaction resulting from a Gift PPI redemption crosses Rs 50,000, the RTA will reject the transaction, and the PPI face value will be refunded to the issuer's escrow account," it added.

Traditionally, Gift cards and prepaid solutions have been used in retail purchases and over a period of time their adoption has increased driven by digital payments, offering instant delivery and enhanced security.

The consultation paper comes after the Sebi received a proposal from the Association of Mutual Funds in India (AMFI) to consider allowing Gift PPI as an instrument to invest in units of mutual fund.

According to Sebi, “Gift Card/ Gift PPI is expected to improve financial inclusion through on boarding of new investors in the mutual fund space.”