Diversified financial services major Bajaj Finserv is soon going to start its mutual fund (MF) business, as the company has received the final registration from the Securities and Exchange Board of India (Sebi) to commence the new vertical under ‘Bajaj Finserv Mutual Fund’. It will offer a range of MF products including equity, debt, and hybrid funds to investors.
“Bajaj Finserv Mutual Fund, with Bajaj Finserv Asset Management Limited (BFAML) as the investment manager, will soon offer a range of mutual fund products including equity, debt, and hybrid funds, both in the active and passive segments, to investors. BFAML will create a tech-driven, multi-channel approach to serve investors across various touchpoints and geographies in order to build a future-ready asset management company,” Bajaj Finserv said in a statement.
Bajaj Finserv, through its businesses, provides financial solutions, including savings, financing, protection, and wealth creation, to over 100 million customers.
Sanjiv Bajaj, chairman & managing director of Bajaj Finserv, said, “A resurgent India, rising investor confidence and digital access to financial services is leading to high adoption of mutual funds. The approval from Sebi is strategically important for Bajaj Finserv as it enables the company to complete its suite of financial solutions for retail customers. With Ganesh Mohan at the helm, our mutual fund business will inspire a new approach to investing and sustained, long-term wealth creation.”
With the addition of mutual funds to its diverse portfolio of businesses, Bajaj Finserv now offers the full range of financial services for customers through their lifecycle — asset acquisition and lifestyle enhancement through financing, asset protection through insurance, family protection through life and health insurance, healthcare needs for the family, savings & investment products, and retirement planning.
Ganesh Mohan, chief executive officer of Bajaj Finserv Asset Management Limited, said, “With greater awareness among investors to stay invested over the longer term, it is an opportune time for the Group to build its mutual fund offering for investors. The mutual fund business will align with the Group’s philosophy of being future-focussed and tech-driven. Coupled with our innovation DNA and a win-win approach for our partners, our business model is focused on creating long-term returns for our investors.”
Ganesh Mohan has been part of Bajaj Finserv for 8 years as group head of corporate strategy, prior to taking over as CEO of BFAML. Earlier, he held various leadership roles with The Boston Consulting Group for 16 years.
The leadership team also includes Nimesh Chandan as chief investment officer (CIO), an investment professional with over 22 years of experience in investing in Indian capital markets. He has been part of the mutual fund industry for 17 years; prior to joining BFAML, he was head (investments- equities) at Canara Robeco AMC.
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