Blackstone-backed ASK Group has appointed former Motilal Oswal Asset Management Company executive Akhil Chaturvedi to lead its mutual fund business, according to a Bloomberg report published on October 26, 2026. Chaturvedi previously served as chief business officer at Motilal Oswal and brings over 13 years of industry experience. ASK received regulatory approval to enter the mutual fund sector in February 2026. The move expands its presence beyond wealth management, portfolio management services and alternative investment funds, allowing it to target a broader retail investor base.

ASK’s assets under management reportedly reached approximately $9 billion following its September acquisition of SageOne Investment Managers. The expansion comes amid strong growth in India’s mutual fund industry, supported by rising household participation in financial markets. However, challenging equity-market conditions, declining stock prices and significant foreign investor outflows could create near-term hurdles. Backed by Blackstone, ASK aims to capitalise on India’s long-term wealth-management opportunities and strengthen its position in the competitive asset-management industry.