Bajaj Finserv completes its first business quarter with overRs.5,000 cr in AuM across money market funds, its first equity fund (Flexicap –1500 cr AuM) and an arbitrage fund. Ganesh thanks distributors and investors for the faith reposed in his team.
Ganesh believes that whether funds are active or passive, investors will still need guidance in an increasingly uncertain world and that is best provided by seasoned financial intermediaries. Less than 10% investors invest directly with AMCs. That said, margins will shrink and intermediaries will need to fully embrace technology to provide scalable service to a growing client base without increasing their cost base.
Entry of Jio and Zerodha will give a bigger push for digital-first, low-cost offerings. Bajaj Finserv understands that diverse needs of different customer segments will need varied solutions and aims to be competitive across all spaces – with solutions that need high-touch as well as those that offer low-cost digital-first solutions.
Oct-Dec quarter will see the fund house launching its BAF with a differentiated model, continuing its journey in the fixed income space with a Banking/PSU debt fund and entering the passives space as well.
The fund house aims to shortly offer a comprehensive partner portal which integrates all of Bajaj Finserv’s solutions within a single platform, thus enabling MFDs to be present on both sides of their clients’ balance sheets – assets as well as liabilities (loans).