NJ, India’s largest MF distributor, can take advantage of its distribution network.
Moneycontrol PF Team
September 13, 2021 / 01:33 PM IST
NJ Mutual Fund, which recently got MF license from SEBI, will be launching a balanced advantage fund.
The new fund offer (NFO) will open on October 8.
“This launch marks the culmination of a process that began over a decade ago. Since 2010 our portfolio management services have offered rule-based active investment approaches to discerning investors, which has made us among the largest PMS providers in the country,” said Rajiv Shastri, director and chief executive officer at NJ MF.
The fund house will be launching MF products, which will follow rule-based investing.
In such funds the role of fund manager is limited, as the scheme buys and sells securities on the basis of certain preset rules. These rules give buy and sell signals.
NJ, which is also the country’s largest MF distributor in commission terms, will be able to take advantage of its wide distribution network to grow its MF business over time.
Soon, several new fund houses could be launching their funds in the market.
Flipkart co-founder Sachin Bansal-backed Navi MF has filed for ten new funds with SEBI.
Recently, the discount brokerage Samco Securities got the approval from SEBI to start its MF business.
The financial services giant Bajaj Finserv has also got the in-principle approval from SEBI. The leading broking house Zerodha has also received the in-principle approval.