Ask Investment Managers is set to apply for a mutual fund license with SEBI and is also considering acquiring existing mutual fund businesses. The firm will focus exclusively on equity funds in both active and passive categories, leveraging its 30 years of experience in managing such products. It aims to target the mass affluent and high-net-worth individual segments, who possess a better understanding of investment risks. This strategic move aligns with their expertise and market focus as they expand into the mutual fund space.