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Kolkata, Nov. 4 India Infoline Ltd on Tuesday announced that it has received the in-principle approval from SEBI for sponsoring mutual fund.

Mr R. Venkataraman, Executive Director, India Infoline, has been quoted as saying in a release: “An entry into the mutual funds space is an opportunity for us to continue to expand our offerings under the financial services domain. We will look to build up a strong team to run this business and will leverage upon our existing distribution strengths and proven research capabilities to grow the asset management business.”

India Infoline has so far been one of the largest pan-India distributors for all the leading asset management companies. The company’s distribution network comprises 886 business locations spread across 350 cities and towns.

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