Mumbai : NJ Mutual Fund Has Grown Around ₹5,200 crore in the new fund offer (NFO) of its Balanced Advantage Fund (BAF). NJ Mutual Fund received its license on 30 April 2021 and is part of the NJ Group, one of the largest mutual fund distribution firms in India. The bulk of the collection has come through NJ’s own mutual fund distribution arm, which has approximately ₹Coming from approximately 140 non-NJ distributors and registered investment advisors, the 230 crore NJ Mutual Fund has a total of approximately 225,000 investors from over 600 districts across 35 states and union territories, its chief executive officer Rajiv Shastri said. Mint. As Mutual Fund Distributor, NJ Wealth Contributes More Than ₹95,000 crore of the current AUM of the MF industry. The group also has a Portfolio Management Service (PMS) which manages approx. ₹2,200 crore in assets.
We calculate the allocation of equity on the basis of both fundamental and technical parameters. Shastri said the equity portion is invested using a multi-factor approach based on price, quality, momentum and volatility factors. “The initial allocation for unhedged equity is 40% or so,” he said. As a fund house, NJ focuses on a rules-based and smart-beta driven approach rather than one driven by a fund manager. “There is a growing opportunity in rules-based investing that has attracted a lot of attention in developed markets and AUM is more or less missing in India. A cursory look at fund inflows indicates that not only a large proportion of fresh inflows but also a major part of the assets are now managed through rule-based methodologies in developed markets. This is an almost empty space in the Indian retail MF market, which we are planning to settle,” said Shastri. Mint In an interview in May.
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.