The new AMC is sponsored by Wealth First Portfolio Managers, a publicly-listed wealth management company on the NSE and BSE with a strong and growing presence across India.
Lakshya AMC has onboarded key members of the founding team of Benchmark AMC including Sanjiv Shah, Rajan Mehta and Sanjay Gaitonde. Benchmark AMC, widely regarded as pioneers of ETFs in India, introduced several industry-first products including Nifty BeES, Gold ETF, Gold BeES and the world’s first money market ETF, Liquid BeES.
Founded in 2001, Benchmark also was the first MF in India which focused exclusively on passive and quantitative investment.
The Benchmark AMC product suite was subsequently acquired by Nippon Life India Asset Management from Goldman Sachs Asset Management. Lakshya AMC will also be the first AMC to be headquartered in Ahmedabad.
Passive side of ETF
Rajan Mehta, Director, Lakshya AMC, told businessline that the fund will focus only on passive side in the ETF and fund of funds space and address those small niches which are very specialised solutions for some investment problems.
“When investors’ horizon is longer, it is difficult to predict outperformance or under performance but you can predict the cost to be paid. Even a cost of 1 or 2 per cent every year will make a compounding impact over 20 years,” he said.
As market get more institutionalised, investors will gravitate towards passives because it will be very difficult to choose the best-performing fund managers, he added.
Ashish Shah, Managing Director, Wealth First Portfolio Managers, said the AMC will identify gaps in the investment landscape and build products that effectively address those needs.
“We believe there is significant opportunity to create differentiated offerings that deliver meaningful value to investors,” he said.
Sanjiv Shah, former Co-founder of Benchmark Asset Management and Director at Lakshya AMC, said the fund aims to design investment solutions that solve real-world investment challenges and simplify investing for a wide range of investors.
Published on March 26, 2026