The financial arm of Bajaj Group has recently got SEBI nod to set up its AMC business
Bajaj FinServ, the financial services arm of Bajaj Group is trying to come up with a new business model in the mutual fund industry. The company expects the AMC to be operational in a year’s time.
“We want to offer innovative products in the mutual fund space therefore we are trying to develop a different business model for our AMC business,” said Sanjiv Bajaj, Director, Bajaj Finserv Ltd.
The AMC is thinking of launching equity and a debt product but a final decision is yet to be taken. Bajaj FinServ posted a more than two-fold rise in its net profit at Rs 158 crore in the second quarter of current fiscal on the back of robust income growth in general and life insurance businesses, among other things.
