Bajaj Finserv could be the disruptor mutual funds need

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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. …