Bajaj Finserv received the final approval from the Sebi in March this year to commence its mutual fund operations under the Bajaj Finserv Mutual Fund banner.
Under the equity category, the fund house has filed papers for large & mid cap, and flexi cap funds. In the hybrid category, the fund house plans to launch an arbitrage fund and balanced advantage fund. In the debt category, the fund house plans to offer three schemes: a liquid fund, money market fund, and overnight fund. The schemes will be open-ended schemes.
The scheme under the money market fund category will be named Bajaj Money Market Fund with an investment objective to generate regular income through investment in a portfolio comprising money market instruments. The scheme will be benchmarked against NIFTY Money Market Index B‐I (a scheme with relatively low-interest rate risk and moderate credit risk). The scheme will be managed by Siddharth Chaudhary and Nimesh Chandan.
Bajaj Overnight Fund, an overnight fund, aims to provide reasonable returns commensurate with low risk and a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day. The scheme will be benchmarked against CRISIL Overnight Fund AI Index (a scheme with relatively low interest rate risk and relatively low credit risk). The scheme will be managed by Siddharth Chaudhary and Nimesh Chandan.
Bajaj Liquid Fund, a liquid fund, aims to provide a level of income consistent with the objectives of preservation of capital, lower risk, and high liquidity through investments made primarily in the money market and debt securities with maturity of up to 91 days only. The scheme will be benchmarked against NIFTY Money Market Index B‐I. The scheme will be managed by Siddharth Chaudhary and Nimesh Chandan.
Bajaj Large and Mid Cap Fund, a large & mid cap fund, aims to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related securities, predominantly in large and mid‐ cap stocks from various sectors. The scheme will be benchmarked against Nifty Large Midcap 250 TRI. The equity portion of the portfolio will be managed by Nimesh Chandan and Sorbh Gupta and the debt portion will be managed by Siddharth Chaudhary.Bajaj Flexi Cap Fund, an offering by the fund house in the flexi cap fund category, aims to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments across market capitalisation. The scheme will be benchmarked against S&P BSE 500 TRI. Nimesh Chandan and Sorbh Gupta will manage the equity portion of the portfolio and Siddharth Chaudhary will manage the debt portion.
Bajaj Arbitrage Fund, an arbitrage fund, seeks to generate returns by investing in arbitrage opportunities in the cash and derivatives segments of the equity markets and by investing the balance in debt and money market instruments. The scheme will be benchmarked against the Nifty 50 Arbitrage Index (TRI). The equity portion of the portfolio will be managed by Nimesh Chandan and the debt portion will be managed by Siddharth Chaudhary.
Bajaj Balanced Advantage Fund, a balanced advantage fund, aims to capitalize on the potential upside of equities while attempting to limit the downside by dynamically managing the portfolio through investment in equity & equity-related instruments and active use of debt, money market instruments, and derivatives. The scheme will be benchmarked against the NIFTY 50 Hybrid Composite debt 50:50 Index. Nimesh Chandan and Sorbh Gupta will manage the equity portion of the portfolio and Siddharth Chaudhary will manage the debt portion.
