Bajaj Finserv Mutual Fund files papers with Sebi to launch 7 schemes

Bajaj Finserv Mutual Fund, which received Sebi's go-ahead to begin its mutual fund operations last month, has filed draft documents with the markets regulator for launching seven schemes in equity, debt and hybrid spaces.

The newest player has filed papers to launch mutual fund schemes -- liquid fund, money market fund, overnight fund, arbitrage fund, large- and mid-cap, balance advantage and flexi cap fund, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.

The company would launch these products after receiving the regulator's approval.

Overall, a total of 179 open-end funds and 49 closed-end funds were launched in the calendar year 2022, and cumulatively, these funds garnered Rs 62,187 crore.

In comparison, 140 NFOs were floated in 2021 and cumulatively, these funds were able to mobilise Rs 99,704 crore and 81 new schemes were launched in 2020 raking in Rs 53,703 crore.

Financial services firm Bajaj Finserv Ltd received the final registration from the Sebi in March this year to commence its mutual fund operations under the Bajaj Finserv Mutual Fund banner.

At that time, the company announced that Bajaj Finserv Mutual Fund would soon offer a range of mutual fund products, including equity, debt, and hybrid funds, both in the active and passive segments, to investors.

Bajaj Finserv, through its businesses, provides financial solutions, including savings, financing, protection, and wealth creation, to over 100 million customers.