New Delhi, March 28 -- Blackstone-backed ASK Asset & Wealth Management Group has been given an In-Principle Approval from the Securities and Exchange Board of India (Sebi) to start its mutual fund business.

ASK Asset & Wealth Management Group, an investment and wealth management company, will offer mutual funds according to its current investment solutions, which include listed equity portfolio management, alternates, and wealth management. This will provide a broader range of opportunities for investors across segments, the company said in a statement.

Speaking on the Sebi approval, Sunil Rohokale, Co-Founder, CEO, & Managing Director of ASK Asset & Wealth Management Group, said, "We have received an in-principle approval for entering ...