Bajaj Finserv Mutual Fund Submits Paperwork To SEBI In Order To Introduce 7 Schemes

Bajaj Finserv Mutual Fund has submitted draught paperwork to the markets regulator for the launch of seven schemes in the equity, debt, and hybrid categories after receiving Sebi's approval to start the mutual fund operations last month. An update with the Securities and Exchange Board of India (Sebi) stated on Monday that the newest player has filed papers to offer mutual fund schemes — liquid fund, money market fund, overnight fund, arbitrage fund, large and mid-cap, balance advantage, and flexi cap fund.

The business would introduce these items after getting the go-ahead from the regulator. In all, 179 open-end funds and 49 closed-end funds were launched in the year 2022, and together they raised a total of Rs 62,187 crore.

In contrast, 81 new schemes were introduced in 2020, bringing in Rs 53,703 crore, while 140 NFOs were floated in 2021, raising a total of Rs 99,704 crore. In order to launch its mutual fund operations under the Bajaj Finserv Mutual Fund brand, financial services company Bajaj Finserv Ltd got the final registration from the Sebi in March of this year.

At the time, the business said that Bajaj Finserv Mutual Fund will soon provide investors with a variety of mutual fund products, including equities, debt, and hybrid funds in both active and passive sectors. Via its companies, Bajaj Finserv offers over 100 million consumers financial products like as savings, borrowing, protection, and wealth building.