Mumbai based mostly Alternative Group has obtained the full mutual fund distribution company of Centcart Money Providers Pvt Ltd for an undisclosed amount to increase the position of its mutual fund system – Investica.
The acquisition deal is inked by its subsidiary Preference Wealth Non-public Ltd.
“The fragmented mutual fund distribution company is in a consolidation mode and we are looking ahead to further inorganic advancement. Moreover, irrespective of there staying a surge in the number of mutual fund traders, the sector penetration is nevertheless very low and there stays a large amount of untapped possible,” mentioned Kamal Poddar, Controlling Director, Decision Group.
In Oct past calendar year, Alternative group had acquired the mutual fund distribution business enterprise of Bank Bazaar in an all income deal.
“This sale will enable CentCart Money to concentrate on our main NBFC business enterprise and consolidate our line of activity”, reported Brijesh Parnami, Founder & CEO of CentCart Money.
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