Bajaj Finserv: Financial services company Bajaj Finserv Limited has got a big success. Bajaj Finserv Limited has received approval from the Securities and Exchange Board of India (SEBI) to deal in the mutual fund business. The company has said that it has received final registration from SEBI.
The firm said in a statement that the company will operate under the Bajaj Finserv Mutual Fund banner. Bajaj Finserv Mutual Fund, in association with Bajaj Finserv Asset Management Limited (BFAML), will soon offer investors a choice of mutual fund products including equity, debt, and hybrid funds across both active and non-active segments.
Entry of another asset manager
With Bajaj being given the ‘go ahead’ by SEBI, the mutual fund industry is now set to see the entry of a large asset manager. According to one figure, there are 42 asset management companies in the industry. Bajaj Finserv Mutual Fund is expected to launch various mutual fund schemes in both active and passive segments with Bajaj Finserv Asset Management (BFAM) as the Investment Manager.
Sanjiv Bajaj, Chairman, and Managing Director, Bajaj Finserv said that the approval from SEBI is strategically important for the company. The company provides a range of financial solutions including savings, funding, protection, and wealth creation to over 100 million customers through its businesses.
What is Bajaj Finserv’s portfolio?
Bajaj Finserv Limited is a non-registered Core Investment Company (CIC) under the Core Investment Guidelines, 2016 of RBI. Bajaj Finserv holds a 52.49 percent stake in Bajaj Finance Limited. It holds a 74 percent stake in Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited. Bajaj Housing Finance Limited is a subsidiary of Bajaj Finance Limited.