About Mutual Funds
A mutual fund in India is set up as a trust, with a sponsor, trustees and an asset management company, and is registered with SEBI. The sponsor must meet the eligibility criteria the regulations lay down.
How we help. We advise on sponsor eligibility, the trust and AMC arrangements, and the regulatory approvals involved, and we provide ongoing regulatory advisory once the fund is established.
Explore mutual fund routes
Schemes
Active and passive offerings
Setting up a fund
Sponsor, trust and AMC
Schemes
Active and passive offerings
Mutual Fund schemes
Schemes launched under the registered fund, each with its own objective.
MF Lite (passive schemes)
A lighter regulatory route for passive schemes.
Setting up a fund
Sponsor, trust and AMC
Sponsor eligibility
The criteria the sponsor must meet.
Trust, trustees and AMC
The three-part structure of an Indian mutual fund.
Approvals and ongoing advisory
Regulatory approvals and support after launch.
Specialised Investment Fund (SIF)
- Minimum ₹10 lakh investment
- Accredited investors exempt from the minimum
Sits between Mutual Funds and PMS.
Who does what in a mutual fund setup
Responsibilities depend on the structure, the agreed engagement and the applicable regulations. The roles below are a general guide, not a statement that Finleaf performs every workstream.
- Finleaf Legal. Within the agreed scope, legal counsel may assist with structuring, legal documentation, regulatory applications and responses, and regulatory questions. The engagement letter defines the work actually undertaken.
- Sponsor. Proposes and establishes the mutual fund and must satisfy the applicable sponsor eligibility requirements.
- Trustees and trustee company. Provide the oversight and fiduciary functions required under the applicable regulatory framework.
- Asset management company (AMC). Manages schemes and carries out its responsibilities under the regulations and scheme documents.
- SEBI and other appointed professionals. SEBI determines regulatory applications. Auditors, tax advisers, company secretaries and other specialists handle their respective professional workstreams where appointed.
How we typically help
This is an illustrative example of how we approach a common situation. It is not a client case study.
A sponsor planning a new mutual fund
The legal work may include reviewing sponsor eligibility, documenting the trust and AMC arrangements, preparing agreed regulatory materials and clarifying which tasks remain with the sponsor, trustees, AMC and other advisers.
Who we work with
- Prospective sponsors assessing whether they meet the eligibility criteria.
- Established financial groups adding a mutual fund, a passive offering or a SIF.
- Asset managers planning new schemes under an existing mutual fund.
- Foreign or cross-border groups looking at an entry into the Indian mutual fund market.
What to expect when you work with us
- Initial conversationYou tell us about your objectives, your investors and your timeline. We tell you what is feasible and what the regulator will expect.
- Scope and proposalWe set out the workstreams, deliverables and fees in a written proposal, so that you know what is included before you commit.
- Kick-offWe agree on the timeline, the information we need from you and the people on each side who will be responsible.
- DeliveryStructuring, documentation and regulatory preparation move forward together, and we keep you updated at each step.
- Filing and follow-throughWe submit the application, manage regulatory queries and keep you informed until the process is complete.
- Launch handoverWe walk you through post-registration obligations and the compliance calendar, so that you can operate with confidence.
Why clients choose Finleaf
- Fewer advisers to manage. One team and one point of accountability.
- Fewer surprises. Defined scope, defined deliverables and clear next steps.
- Cleaner regulatory journeys. Structures and documents prepared with the approval process in mind from day one.
- Coordinated workstreams. Where the engagement requires it, legal documentation and regulatory preparation can be planned in parallel, subject to dependencies and regulator timelines.
- Continuity. The same team supports you after registration.
Our commitments
- Accuracy. We work from current regulations and circulars, and we tell you where the position is unsettled.
- Candour. We tell you what is feasible, what is risky and what we would do in your position.
- Confidentiality. Your plans, structures and investor details stay protected.
- Accountability. We own the outcome of our workstream and report progress clearly.
Frequently asked questions
Who can sponsor a mutual fund?
The sponsor must meet the eligibility criteria set out in the SEBI (Mutual Funds) Regulations. We assess your position against those criteria before anything is filed, so you know early where you stand.
How long does it take to launch?
The timeline depends on the product, how ready your documents and information are, and the regulator’s review. We give a realistic estimate in the proposal and update it as the work progresses.
Do you handle the entire process or only part of it?
Both are possible. Most clients engage us across structuring, documentation, regulatory execution and launch readiness, but you can engage us for a specific stage.
Do you guarantee regulatory approval?
No adviser can. Approval rests with the regulator. What we do is prepare your structure, documents and filings to the standard the process demands and manage the process closely.
Do you support us after registration?
Yes. Our Launch Readiness workstream and post-incorporation support help you onboard investors and meet your ongoing obligations.
Can you work alongside our other advisers?
Yes. We regularly coordinate with merchant bankers, tax advisers, auditors, trustees and custodians, and we can work with the advisers you already have.
Do you manage money or distribute investment products?
No. Finleaf provides legal and regulatory advisory services. We do not manage funds or distribute investment products.
How do I get started?
Share a short brief about your fund or offering. We will revert to discuss scope and next steps.
Speak to Finleaf
Planning a fund, a PMS or a listing? Let’s structure it properly from the start.