Zerodha co-founder Nikhil Kamath, who is also the founder of True Beacon—an alternative asset manager—has announced his entry into wealth management. True Beacon will offer portfolio management services (PMS) targeting high net worth families. True Beacon has been offering alternative investment products since 2019 and has a client base of 300 apart from Kamath’s own substantial base of contacts among India’s wealthy. The company has assets under management of around ₹1,500 crore. Alternative investment fund (AIFs) have a minimum ticket size of ₹1 crore per client. True Beacon Wealth is targeting assets under management (AUM) of ₹750 crore in its first year of operations. Although the firm plans to offer all types of PMS services, its focus will be discretionary PMS.