Bajaj Finserv could be the disruptor mutual funds need
The financial services conglomerate, with its extensive network of agents and branches, could help cut the reliance on third-party distributors.
Why read this story?
Editor's note: Last week, the Securities and Exchange Board of India granted final approval to Bajaj Finserv to launch its mutual funds business. The long-awaited clearance comes over a year after the capital markets regulator granted an in-principle licence to the financial services group to set up an asset management company. Bajaj Finserv Asset Management Ltd has, in this time, been silently building its team. It has appointed Ganesh Mohan, the former head of corporate strategy at Bajaj Finserv, as the chief executive officer. Other significant hires include former ICICI Prudential AMC executive Aniruddha Chaudhuri as sales head and Canara Robeco MF’s former equities head Nimesh Chandan as the investment team lead. Details are sparse on the specifics of the products that will be launched in the coming months or the investment strategy that will guide these funds. There is, however, an expectation in the industry that Bajaj Finserv Asset Management’s offerings will be tailored for salaried individuals, a segment likely to form its core customer base. This should translate into a platter of conservative funds with both equity and debt exposures. …
More in Internet
You may also like
Can SEBI get a good social media team for investor education?
With social media becoming a crucial source of financial guidance, it doesn’t help that many first-time investors remain strikingly unaware of regulations meant to protect them against unregistered entities.
Groww strikes a conservative note
The first quarterly results since going public show the online stockbroker is on course to grow its new line of businesses. But investors need to be patient.
Peak XV’s ducks-in-a-row moment is here
After the anxiety of its split with Sequoia, a spell of founder run-ins, senior-level churn and tighter capital, things finally seem to be turning for Peak XV Partners.