Bajaj Finserv launches its mutual fund: Key things to know

Bajaj Finserv MF: Bajaj Finserv launched its mutual fund (MF) business today (June 6, 2023). The non-banking financial services company got capital markets regulator SEBI's approval in March for its MF business, and it will be operated under Bajaj Finserv Mutual Fund. Bajaj Finserv Asset Management Limited will be the investment manager, according to Zee Business Research. This is India's 43rd asset management company (AMC).

India's MF industry size is Rs 40.8 lakh crore and Bajaj Finserv's MF will be the sixth company to enter the MF industry post-2021. The said MF's headquarters will be in Pune, as per the research desk.

Bajaj Finserv MF: Other Key details 

Bajaj Finserv has already received SEBI's approval to launch seven schemes, which include three debt schemes, three equity schemes, and one arbitrage fund. Currently, Bajaj Finserv has a customer base of more than 10 crore and it has over 6 crore retail customers. Nimesh Chandan will be the chief investment officer (CIO) of the MF, while Ganesh Mohan will be the chief executive officer (CEO). Further, Sorbh Gupta and Siddharth Chaudhary will be the fund managers.