SEBI issues licence for Bajaj Finserv to start a mutual fund company

2 Mar 2023 , 07:59 AM

On Wednesday, SEBI, the market regulator, granted Bajaj Finserv a licence to launch a mutual fund company. The business promised investors that it would soon release a variety of mutual fund products, including active and passive equity, debt, and hybrid funds.

The investment manager for the MF business will be Bajaj Finserv Asset Management Limited (BFAML), and the CEO of the AMC will be Ganesh Mohan, who has been with Bajaj Finserv for 8 years as group head for corporate strategy.

‘The mutual fund industry will adhere to the group’s future-focused, tech-driven ideology. Our business model is concentrated on producing long-term returns for our investors because of our innovation DNA and a win-win strategy for our partners”, according to Ganesh Mohan reported by ET.

Ganesh held a number of executive positions before joining Bajaj Finserv, including one for 16 years with the Boston Consulting Group (BCG).

With Ganesh Mohan in charge, the mutual fund industry will spur long-term, sustainable wealth creation, according to Sanjiv Bajaj, CMD of Bajaj Finserv.

Chief Investment Officer (CIO) Nimesh Chandan is also a member of the executive team. Chandan is a financial expert with more than 22 years of expertise in the capital markets of India. He has spent 17 years working in the mutual fund industry.

In order to build a future-proof asset management organisation, the company declared it would develop a tech-driven, multi-channel approach to service investors across numerous touchpoints and locations.

According to Bajaj Finserv, with the addition of mutual funds to its varied portfolio of companies, it now provides the full range of financial services for clients throughout their life cycles.

The company stated in a statement that the mutual fund products will also serve institutional clients.

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