New Delhi: In a big development, Jefferies Financial Group is preparing to enter India’s $900 billion mutual fund industry. The global financial services provider has appointed Milind Barve, former head of HDFC Asset Management Company, as an advisor to lead the project.

Notably, the development comes at a time when the mutual fund industry in India is growing at a rapid pace. Barve has been entrusted with the duty to formulate the company’s strategy and obtain regulatory approvals. Since the COVID-19 pandemic, people have been investing big in financial assets. Mutual fund total assets have more than doubled in the last five years, data show.

Jefferirs & Indian Mutual Fund industry

Jefferies’ entry into the India’s Mutual Fund industry will be very interesting as it will face stiff

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