# Carnelian Asset Management & Advisors Private Limited

> Carnelian Asset Management & Advisors Private Limited is an SEC-registered investment advisory firm in Mumbai, Maharashtra, India, registered since 2026, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 11, 2026.

- CRD: 335103
- Filed as: CARNELIAN ASSET MANAGEMENT & ADVISORS PRIVATE LIMITED
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Mumbai, Maharashtra, India
- Filing period: October 2026
- Form ADV filing dated: May 11, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/335103
- AdvisorCensus page: https://advisorcensus.com/firm/carnelian-asset-management-and-advisors-private-limited-mumbai-maharashtra-335103

## Quick answers

**How is Carnelian Asset Management & Advisors Private Limited compensated?**
On its Form ADV (Item 5.E, October 2026), Carnelian Asset Management & Advisors Private Limited reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Carnelian Asset Management & Advisors Private Limited located?**
Carnelian Asset Management & Advisors Private Limited's principal office is in Mumbai, Maharashtra, India, according to its Form ADV.

**Is Carnelian Asset Management & Advisors Private Limited registered with the SEC or a state?**
Carnelian Asset Management & Advisors Private Limited is an SEC-registered investment advisory firm, registered since 2026. Status as filed: Approved. CRD 335103.

**How much does Carnelian Asset Management & Advisors Private Limited manage?**
Carnelian Asset Management & Advisors Private Limited reports $1,498,860,000 in regulatory assets under management in its Form ADV filing dated May 11, 2026 (100% discretionary).

**What types of clients does Carnelian Asset Management & Advisors Private Limited serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (4,535); pooled investment vehicles (other than investment companies and business development companies) (5).

**Which custodians does Carnelian Asset Management & Advisors Private Limited use?**
Carnelian Asset Management & Advisors Private Limited's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Nuvama Custodial Services Limited as a custodian holding 10% or more of its separately managed account assets.

**Does Carnelian Asset Management & Advisors Private Limited report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/335103

**What changed in Carnelian Asset Management & Advisors Private Limited's recent Form ADV filings?**
In the June 2026 filing data: Newly registered with the SEC.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Nuvama Custodial Services Limited

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,498,860,000
- Discretionary: $1,498,860,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 4,535 | $954,920,000 |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $543,940,000 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2026 (0 years)
- Employees: 73 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, NH, NJ, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [carneliancapital.co.in](https://carneliancapital.co.in)
- Facebook @carnelianasset
- LinkedIn @carnelianassetmanagement
- Instagram @carnelianassetmanagement
- X @carnelian_assets

## Changes in the filing (last 12 months)

### June 2026
- Newly registered with the SEC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Carnelian Asset Management & Advisors Private Limited (CRD 335103): Form ADV filing data as of October 2026.