TFS Gulf 
- In 2018, Sunil Singhania daringly walked away from Reliance Mutual Fund as Global Head of Equities, to build something of his own.
- Fast forward seven years, his Abakkus Asset Manager handles a whopping ₹38,049 crore ($4.29 billion) in AUM.
- And now Abakkus is opening a new chapter: the launch of its first mutual fund product, the Abakkus Flexi Cap Fund.
Looking back at 2018
Sunil Singhania spent 15 years at Reliance Mutual Fund, and dominated every minute of it.
From CIO to Global Head of Equities at Reliance Capital, he was steering entire businesses: Life Insurance, Offshore Funds, PMS, AIFs, Wealth, you name it.
At one point, he was managing ₹4,00,000 crore ($60 billion) in AUM.
But Singhania wanted freedom, to chart his own path.
So in 2018, he gave up certainty and comfort to begin again…right from ground zero.
Abakkus Asset Manager in born
With decades of experience, and investment management knowledge he launched Abakkus Asset Manager.
What started as a small PMS (Portfolio Management Services) and AIF (Alternative Investment Funds) set up, has now become one of India’s most respected alpha focused boutique asset managers.
Abakkus now manages a staggering ₹38,049 crore ($4.29 billion) in AUM (as of Sept 30, 2025).
But Singhania doesn’t want to stop there.
Fast Forward to 2025
In 2025, Abakkus is finally stepping into the ₹80 lakh crore mutual fund industry, a battlefield ruled by giants.
With Abakkus Mutual Fund, they’re opening the doors to everyday retail investors for the first time.
And their debut product?
The Abakkus Flexi Cap Fund
It’s an equity mutual fund.
What’s the strategy of the fund?
It’s like giving the fund manager complete freedom to pick the best stocks, whether they’re large-cap, mid-cap, or small-cap…rather than being restricted to one category.
And this one will be run by Sanjay Doshi, who used to be a Senior Fund Manager at Abakkus Asset Manager.
NFO (New Fund Offer) Details
- Opened: December 8, 2025
- Closes: December 22, 2025
- Portfolio Structure: Minimum 65% equities; Up to 10% in REITs & InvITs; Benchmark: BSE 500 TRI
The Abakkus Liquid Fund
The Abakkus Liquid Fund is the second product rolled out by Abakkus Mutual Fund, launched alongside their flagship Abakkus Flexi Cap Fund.
It aims to deliver steady, low risk, optimal returns by investing in debt and money market instruments such as Treasury Bills, Commercial Papers, Certificates of Deposit.
Wrapping up
Abakkus Mutual Fund CEO Vaiibhavv Chugh says the markets are “finally looking alive again” after a quiet 2025.
And he has good reason to be optimistic:
- India’s economy? Going from $4T to $8T
- Low inflation
- Strong GDP
- Corporate earnings on the up
- And fund flows staying solid
FAQs
1. Who is Sunil Singhania?
Sunil Singhania is a Chartered Accountant and a CFA charterholder by qualification. He is a well-known Indian investment professional and fund manager. He built a strong reputation over more than two decades in equity investing.
2. How to start a mutual fund in India (as an AMC)?
To start a mutual fund business in India, you must go through regulatory approval from SEBI under the SEBI (Mutual Funds) Regulations, 1996.
A. Establish the legal structure: Incorporate an Asset Management Company (AMC) and a Trust/Trustee Company (mutual funds must be set up as a trust). The sponsor (promoter) must form the mutual fund trust and appoint trustees.
B. Sponsor and trust requirements: The sponsor must satisfy eligibility criteria including prior business experience in financial services and a sound track record. A trust deed must be drafted under the Indian Trusts Act, 1882 and registered.
C. Apply to SEBI for registration: Submit Form A with SEBI along with supporting documents such as the trust deed, AMC memorandum and articles of association, investment management agreement, and details of key personnel and infrastructure.
D. Capital and net worth requirements: The AMC must maintain a minimum net worth of ₹50 crore (continuous requirement). The sponsor must usually contribute at least 40% of the AMC’s net worth at the outset.
E. Trustee and independent directors: Trustees must oversee the mutual fund and protect investor interests. Independent directors are required on trustee and AMC boards.
F. SEBI evaluation: SEBI reviews the application, conducts due diligence, and may grant the Certificate of Registration if requirements are met. Once registered, the AMC can launch schemes only after SEBI approval of each scheme’s offer document.
3. What qualifications or experience are needed to start a mutual fund in India?
There are no strict academic degree requirements defined by SEBI, but the regulatory framework implicitly states the following.
The sponsor must have a sound track record in financial services for at least five years with positive net worth and profitability in most of those years, ensuring credibility and competence.
