Mumbai/Pune, June 07, 2023: Bajaj Finserv Ltd., one of India’s most diversified and technology-driven financial services groups, today announced the strengthening of its suite of retail financial offerings with the launch of its new mutual fund business under Bajaj Finserv Mutual Fund.

Bajaj Finserv Mutual Fund will launch a comprehensive set of products across fixed-income, hybrid, and equity categories to meet the needs of diverse investor profiles ranging from retail and HNIs to institutions. To begin, the company will launch a set of fixed-income, liquid, overnight, and money market products to cater to the institutional segment, and company treasuries.  

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, said, “We are committed to being a full-stack financial solutions provider to meet India’s growing needs and building deeper, long-term relationships with customers who are already invested in us. The launch of asset management helps diversify our retail franchise and leverage the group’s combined strength in financial services across a much larger customer base.”

“Technology and analytics have been the cornerstones of businesses at Bajaj Finserv and are not only enablers but also differentiators. Bajaj Finserv Mutual Fund will deploy technology at scale to empower teams, create platforms for distributors, simplify investments, and build long-term sustainable value for customers. We believe the asset management business positions Bajaj Finserv for an exciting new chapter of growth,” he added.

Ganesh Mohan, Chief Executive Officer, of Bajaj Finserv Asset Management Company, said, “Bajaj Finserv Mutual Fund’s strategy is built on innovation, win-win partnerships, and a future-ready business model through usage of data and tech platforms – the fundamental pillars on which the Bajaj Finserv group is built.”

“Our primary differentiator is our investment philosophy. We look to combine all sources of alpha, namely the Information edge, Quantitative edge as well as Behavioural edge into a framework, which we call ‘INQUBE’. Our team, comprising experts from across the industry and professionals from the Bajaj Finserv Group, enables us to benefit from deep industry know-how as well as the Group’s culture and DNA,” Mohan added.

Bajaj Finserv Mutual Fund had filed its first seven schemes with SEBI i.e. the liquid fund, money market fund, overnight fund, arbitrage fund, large and mid-cap fund, balanced advantage fund, and flexi cap fund.  Bajaj Finserv Mutual Fund will start rolling out these products within the next 30 days, starting with Fixed Income products.

The future product roadmap will be determined by the investment team based on market opportunities and the possibilities of generating sustainable alpha, as opposed to large market size categories, Mohan said.

Bajaj Finserv received the final registration from the Securities and Exchange Board of India (SEBI) to commence its mutual fund operations under Bajaj Finserv Mutual Fund, with Bajaj Finserv Asset Management Limited (BFAML) as the Investment Manager, in March 2023.

Bajaj Finserv Mutual Fund’s operating model aligns with Bajaj Finserv’s entrepreneurial culture, innovation, execution rigor, strong risk management, and long-term sustainable growth.

The company’s investments team is led by Nimesh Chandan, Chief Investment Officer, an investment professional with 22 years of experience in investing in Indian capital markets.

The leadership team of Bajaj Finserv Mutual Fund includes Aniruddha Chaudhari, Head – Retail & Institutional business, Nilesh Chonkar, Head – Operations & Finance, Harish Iyer, Head – Legal & Compliance, Royston Netto, Head – Marketing & Digital Business, Niranjan Vaidya, Head – IT and Vaibhav Date, Head – Human Resources.

Bajaj Finserv Mutual Fund will leverage the Bajaj brand which is synonymous with delivering high-quality products for India for almost a century.

The Bajaj Finserv Group, over 16 years, has built strategic proficiencies to help meet an individual’s financial needs and build financial resilience through solutions such as savings products, consumer and commercial loans, mortgages, auto financing, securities brokerage services, general and life insurance, and investments.

Bajaj Finserv serves 10 crore customers at 4,500 locations through a combination of digital and physical reach. The Bajaj Group has so far touched 2 million lives through its social impact programmes.