NJ Mutual Fund, which recently received MF license from SEBI has filed draft papers with the regulator for two schemes — NJ Flexi Cap Fund and NJ Dynamic Asset Allocation Fund.
Both funds are open-ended schemes and will follow rules-based investing.
The funds aim to deliver extra returns compared to underlying benchmarks — Nifty 500 TRI for the flexicap fund and CRISIL Hybrid 35+65 - Aggressive Index for the dynamic fund.
Talking about the rule-based investing, Rajiv Shastri, CEO, NJ Mutual Fund said, "Your organisation changes when you are a completely rules-based fund house. Fund houses that predominantly offer active funds will have research analyst. We have data scientists who are basically focused on analysing data. The entire skill set and organisation structure is different."
The filings come within a month of receiving license from SEBI.
