Neo Wealth and Asset Management (Neo Group) on Friday announced its entry into the mutual fund business with the launch of Neo Mutual Fund, as part of plans to expand its financial services platform.
The fund house will initially launch schemes across liquid, arbitrage, diversified equity and multi-asset allocation categories, subject to regulatory approvals.
Neo Mutual Fund has brought together around 10 experienced fund managers who have collectively managed assets worth over ₹2 lakh crore in their previous roles, the company said in a statement.
The fund house plans to establish a presence across over 25 locations in the country and build a nationwide distribution network through mutual fund distributors, independent financial advisors, banks and wealth managers.
The company said its initial focus would be on strengthening investment capabilities, building credibility and developing distribution partnerships, with no short-term assets under management (AUM) target.
Neo Group managed around ₹1.46 lakh crore in total client assets across ‘assets under advice’ and ‘assets under management’ as of September 30, 2026.
At present the country has 57 mutual fund houses, which collectively managed assets worth over ₹87 lakh crore as of September 2026, according to data from Association of Mutual Funds in India.
Published on November 6, 2026
