Bajaj Finserv Asset Management (MF)

About

Established on June 6, 2023, Bajaj Finserv AMC is a wholly owned subsidiary of Bajaj Finserv Limited.

The AMC is expected to launch products across fixed income, equities and hybrid categories. It has filed its first seven schemes, the liquid fund, money market fund, overnight fund, arbitrage fund, large and mid-cap fund, balanced advantage fund, and flexi cap fund.

Bajaj Finserv is the holding company for various financial services under Bajaj Group. Bajaj Finserv aims to provide financial solutions to retail and SME customers.The firm currently provides these solutions to over 100 million customers. It is listed on the NSE and BSE. 

Key staff

Purav Jhaveri, President – Investments – He is the president of investments for Bajaj Finserv Ltd. He joined the firm in 2020 and has been responsible for overseeing the investment teams across the group. Before joining the firm, he was a Managing Director of Investment Strategy and Portfolio Manager with Franklin Templeton Investments, USA. He has an MBA from the Wharton School of the University of Pennsylvania and a Master’s in Management from NMIMS, University of Bombay. He holds a CFA charter and a financial risk manager certification from the Global Association of Risk Professionals. Additionally, he is a member of CII National Committee on Financial Markets.

Ganesh Mohan, CEO – joined Bajaj Finserv Limited in 2015 as the Group Head of Strategy. He led several transformation projects for the group that focused on fostering innovation and building newer capabilities for its companies. In November, 2021, he moved as Chief Executive Officer of Bajaj Finserv Asset Management Limited, the wholly owned subsidiary of Bajaj Finserv Limited. Before joining Bajaj Finserv Limited, Ganesh was a Partner with the Boston Consulting Group and worked with them for 16 years, in the US, Europe, Middle East and India.He holds a B.Tech (Hons) in Chemical Engineering from IIT Kharagpur and an MBA from IIM Calcutta in Finance and Strategy.

Nimesh Chandan, CIO – is an investment professional with 22 years of experience in investing in the Indian capital markets. He has a track record in managing money and advising clients, both domestic and international, retail as well as institutional. He has been part of the mutual fund industry for 17 years where has managed products across market capitalization and themes, and developed models on Sustainable Investing, Quant Investing and Asset Allocation.

Investment philosophy

According to  the ET article listed in the media section – The firm aims to combine all sources of alpha, namely the Information edge, Quantitative edge as well as the Behavioral edge into a framework, which they call ‘INQUBE’. Their team of Bajaj Finserv experts from different industries gives them the benefit of having in-depth industry knowledge and the culture and DNA of Bajaj. 

According to the firm’s website – The firm follows an investment philosophy focused on generating long-term returns for investors. 

Equity – Their equity investments are based on the fundamental attributes of companies, with a belief in the quality of the company’s business and management as key drivers of wealth creation. They utilize a three-stage investment process that incorporates fundamental research, analytical tools, and an understanding of market inefficiencies and biases. 

Fixed Income – In the fixed income market, the emphasis is on the quality of assets and evaluating the ability of borrowers to service their debt. Liquidity management and risk-adjusted returns are also important considerations in their investment approach. The investment philosophy and process serve as a guide for their goals and decision-making.

Media

Bajaj Finserv Mutual Fund launched, June, 2023 https://economictimes.indiatimes.com/mf/mf-news/bajaj-finserv-mutual-fund-launched/articleshow/100786766.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Sanjaj Bajaj, Managing Director and Chairman of Bajaj Finserv announces the launch of their mutual fund. He talks about the firm’s goal of being a full-stack financial solutions provider and building long-term relationships with customers that are already invested in the firm.

The AMC’s CEO, Ganesh Mohan talks about their investment philosophy. He believes that it is the firm’s primary differentiator. They look to combine all sources of alpha, namely the Information edge, Quantitative edge as well as the Behavioral edge into a framework, which they call ‘INQUBE’. 

Bajaj Finserv is now the 43rd player in the mutual funds space. Its task is to leave the crowd behind, June, 2023 https://economictimes.indiatimes.com/prime/money-and-markets/bajaj-finserv-enters-as-the-43rd-player-in-the-mutual-funds-space-the-task-is-now-to-stand-apart-/primearticleshow/100829969.cms

Bajaj Finserv AMC, a financial services company, has entered the highly competitive mutual funds industry in India as the 43rd player. Despite the crowded market, the company aims to differentiate itself through its “last-mover advantage” and an existing customer base from its lending business. Bajaj Finserv AMC plans to launch a comprehensive range of products and cater to retail investors, high-net-worth individuals, and institutional clients. The company’s investment philosophy focuses on combining different sources of alpha, and it aims to differentiate itself through its investment strategies and style tilt. While competition is intense, the company believes there is still room for growth in the industry, given the low penetration of mutual funds in India compared to other major economies.

After Twitterati scream foul about pesky calls, RBI says ‘will look into it’, June, 2023 https://www.businessinsider.in/business/news/bajaj-finserv-after-twitterati-scream-foul-about-pesky-calls-rbi-says-will-look-into-it/articleshow/100849176.cms

Sanjiv Bajaj, the chairman of Bajaj Finserv, announced that his company would introduce a new feature called ‘right to be forgotten’ to address the issue of marketing calls. This feature would allow people who do not wish to receive calls to register their preference on the company’s website or app. Bajaj mentioned that this feature would be implemented within three months. In relation to cross-selling financial products he says “You will see, in three months’ time, on our website and our web app will be an option – you click it – we will never bother you again. You’ll have the right to be forgotten by us but then make sure you don’t come back to us for our products and solutions,”. This caused an outrage on Twitter from existing clients.

In response to a question about this issue during a press conference, the Reserve Bank of India (RBI), the country’s banking regulator, stated that the telecom regulator, Telecom Regulatory Authority of India (TRAI), is the appropriate authority to address the matter. The RBI acknowledged that the question had been raised and expressed its intention to look into it. The RBI further mentioned that rules already exist for telemarketers and recovery agents in terms of customer service standards. TRAI maintains a Do Not Call registry where customers can register their numbers to avoid receiving unwanted calls, although it does not differentiate between calls related to transactions and calls from telemarketers.