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ET Wealth Expo | India is still in SIP accumulation phase; SWPs may gain relevance in 25 years: Vikas Khemani

India’s SIP growth story has a long runway, with household equity exposure still in single digits and a large number of investors in the wealth-accumulation phase, says Carnelian Asset Management’s Vikas Khemani. Speaking at the ET Wealth Expo, he said SWPs may take another 25 years to gain widespread relevance…

The Economic Times · Oct 30

From CDMO to aerospace: How Vikas Khemani finds India’s next big themes

Now, as Carnelian has ventured into mutual fund business by launching a small-cap fund with a ₹5,000 crore cap, Khemani is focusing on manufacturing, financials and IT while warning investors against confusing market capitalisation with valuation. In an interview, he explains how the fund plans to manage size, assess expensive…

The Economic Times · Oct 23

NFO Insight: Carnelian Small Cap Fund opens for subscription with Rs 5,000 crore size cap. Can it deliver alpha?

Carnelian Mutual Fund has launched its new Carnelian Small Cap Fund, now available for investors. Targeting a size cap of Rs 5,000 crore, this fund seeks to preserve investment flexibility while focusing on small-cap stocks with strong growth potential at fair prices. It employs an in-depth research strategy to uncover…

The Economic Times · Oct 16

SEBI’s new PMS framework could potentially double industry size over time: APMI Chairman Vikas Khemani

SEBI’s revised PMS framework introduces PRIM, expands investment options and lowers the entry threshold to ₹25 lakh. Industry leaders expect these changes to broaden PMS adoption, while global diversification, derivatives, independent fund managers and risk-adjusted performance gain importance for investors.

The Economic Times · Sep 26

Sebi clears PRIM route for PMS players to invest in mutual funds, SIFs; Rs 25 lakh minimum ticket

Sebi’s board approved PRIM, allowing portfolio managers to invest client money in direct mutual fund plans, ETFs, index funds and SIFs. The new route carries a Rs 25 lakh minimum ticket size and expands PMS portfolio construction options beyond direct equities.

The Economic Times · Sep 24

Ashish Kacholia, Vikas Khemani to get Venus Pipes shares in preferential issue; stock jumps 9%

Venus Pipes and Tubes shares jumped 9% after the company proposed a Rs 372 crore preferential issue to marquee investors including Ashish Kacholia, Carnelian Bharat Amritkaal Fund and WhiteOak Capital-linked entities, with most proceeds earmarked for debt repayment.

The Economic Times · Sep 17

Vikas Khemani’s Carnelian Asset Management files draft document with Sebi for its first fund

Carnelian Asset Management has filed documents with Sebi to launch its first liquid mutual fund, targeting short-term investors seeking high liquidity and low-to-moderate risk. The open-ended scheme will invest in debt and money-market instruments maturing within 91 days, expanding Carnelian’s offerings to retail investors.

The Economic Times · Sep 5

Mukul Agrawal-backed PTC Industries shares slip 4% despite 466% surge in Q1 profit and 180% EBITDA growth

PTC Industries shares fell 4% despite a strong Q1 FY27 performance, with profit surging 466% and EBITDA rising 180%. Revenue grew 83% year-on-year to ₹197.1 crore, supported by aerospace and defence programmes. Investors Mukul Agrawal and Vikas Khemani held 1.07% and 2.57% stakes, respectively, as of June 2026.

The Economic Times · Aug 18

Vikas Khemani elected APMI Chairman, Sandeep Jethwani Vice-Chairman

APMI appointed Vikas Khemani as Chairman and Sandeep Jethwani as Vice-Chairman following its August 10 board meeting. The new leadership will focus on transparency, governance, investor education, technology adoption and industry best practices. India’s PMS industry had Rs 43.3 lakh crore in AUM as of June 2026, highlighting its growing…

The Economic Times · Aug 11

Vikas Khemani’s Carnelian Asset Management receives SEBI approval for mutual fund business

Carnelian Asset Management & Advisors, founded by market veteran Vikas Khemani, received SEBI approval to launch its mutual fund business. The move will allow the firm to offer active and passive investment products across equity, debt and hybrid categories, expanding its presence beyond PMS, AIFs and offshore strategies.

The Economic Times · Jul 22