Bajaj Finserv Receives SEBI Registration to Launch Mutual Fund Operations
On Wednesday, financial services firm Bajaj Finserv announced that it has received final registration from the Securities and Exchange Board of India (SEBI) to begin its mutual fund operations. The company will operate its business under the Bajaj Finserv Mutual Fund banner, as stated in a press release.
Bajaj Finserv Mutual Fund, with Bajaj Finserv Asset Management Limited (BFAML) as the Investment Manager, will offer a range of mutual fund products, including equity, debt, and hybrid funds, both in the active and passive segments, to investors in the near future.
Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, commented on the significance of SEBI’s approval, stating that it enables the firm to complete its suite of financial solutions for retail customers. He also mentioned that the company’s mutual fund business, led by Ganesh Mohan, will inspire a new approach to investing and sustained, long-term wealth creation.
Bajaj Finserv provides financial solutions, including savings, financing, protection, and wealth creation, to over 100 million customers. The company is an unregistered Core Investment Company (CIC) under Core Investment Companies (Reserve Bank) Direction, 2016.
Additionally, Bajaj Finserv holds a 52.49 per cent stake in Bajaj Finance Ltd, a listed non-bank with the structure of a bank, and a 74 per cent stake each in Bajaj Allianz General Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd. Bajaj Housing Finance Ltd is a subsidiary of Bajaj Finance Ltd.
About Bajaj Finserv:
Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.
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