Fortune Financial Services India has received in-principle approval from SEBI Investment Management Department for to sponsor a Mutual Fund (MF) and to set up of Asset Management Company (AMC) and Trustee Company subject to fulfillment of requirements as prescribed in SEBI (Mutual Fund) Regulations, 1996.
Last year in September, the company had acquired 100,000 equity shares of Rs 10 each fully paid of Distress Asset Specialist for cash deal. With this acquisition, the company’s holding in Distress Asset Specialist was 100% and it had become a wholly owned subsidiary of the company effective from September 01, 2015.
Fortune Financial Services (India) and its wholly-owned subsidiaries, is engaged in providing a range of Financial Services right from Equities and Derivatives trading, Equity Research, Commodities Trading, Portfolio Management Services, Distribution of Mutual Funds, IPO & Insurance products and also Investment banking services.
