homepersonal finance NewsFrom liquid fund to flexicap scheme — Bajaj Finserv MF to launch seven NFOs soon
From liquid fund to flexicap scheme — Bajaj Finserv MF to launch seven NFOs soon
Bajaj Finserv on Tuesday launched its mutual fund (MF) business. Known as Bajaj Finserv Mutual Fund, this will be India's 41st asset management company (AMC).
Bajaj Finserv, which announced the launch of its mutual fund (MF) business on Tuesday, said it would soon unveil its seven new fund offers (NFOs). This would include liquid funds, money market funds, overnight funds, arbitrage funds, large and midcap funds, balanced advantage funds and flexicap funds. Bajaj Finserv Mutual Fund will start rolling out these products within the next 30 days, starting with fixed-income products.
Last month, Bajaj Finserv Mutual Fund filed a draft with SEBI to launch these funds.
Here are the NFO details as per the draft scheme information documents available with SEBI (As compiled by Cafemutual.com)
| Fund | Type | Benchmark | Fund Manager (s) |
| Bajaj Arbitrage Fund | Open-ended | Nifty 50 Arbitrage Index (TRI) | Nimesh Chandan (Equity portion)Siddharth Chaudhary (Debt portion) |
| Bajaj Balanced Advantage Fund | Open-ended | NIFTY 50 Hybrid Composite Debt 50:50 Index | Nimesh Chandan and Sorbh Gupta (Equity Portion)Siddharth Chaudhary (Debt Portion) |
| Bajaj Flexi Cap Fund | Open-ended | S&P BSE 500 TRI | Nimesh Chandan and Sorbh Gupta (Equity portion)Siddharth Chaudhary (Debt portion) |
| Bajaj Large and Mid Cap Fund | Open-ended | Nifty Large Midcap 250 TRI | Nimesh Chandan and Sorbh Gupta (Equity portion)Siddharth Chaudhary (Debt portion) |
| Bajaj Liquid Fund | Open-ended | NIFTY Liquid Index B‐I | Siddharth Chaudhary and Nimesh Chandan |
| Bajaj Money Market Fund | Open-ended | NIFTY Money Market Index B‐I | Siddharth Chaudhary and Nimesh Chandan |
| Bajaj Overnight Fund | Open-ended | CRISIL Overnight Fund AI Index | Siddharth Chaudhary and Nimesh Chandan |
An NFO is the first-time subscription offer for a new scheme launched by asset management companies (AMCs). They are intended to raise capital for the fund and attract investors. 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, while 81 new schemes were launched in 2020, raking in Rs 53,703 crore, according to news agency Press Trust of India (PTI).
Meanwhile, 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. The firm, through its businesses, provides financial solutions, including savings, financing, protection, and wealth creation to over 100 million customers.
First Published: Jun 6, 2023 1:44 PM IST
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