Friday, 20 September 2024 | PNS | DEHRADUN
Bajaj Finserv Mutual Fund crossed Rs 17,000 crore AUM in its first year of launch, as on August 31 this year. Officials of the fund house state that it has grown significantly in both size and scope since the launch of its maiden scheme. In its first year, the fund house launched 10 active schemes along with 3 ETFs.
The fund house recently celebrated the first anniversary of Bajaj Finserv Flexi Cap Fund, its flagship equity fund. In its first year of operation, the fund has delivered strong returns, both in direct and regular plans. The fund crossed Rs 3,500 core AUM in its first year of launch.
Using the megatrends approach for sectoral and stock selection, Bajaj Finserv Flexi Cap Fund invests in 60 plus stocks that may benefit from prevailing and upcoming movements in the market. The fund’s top allocations are in banking and financial services, pharmaceuticals, automobiles, technology, chemical and consumer sectors. Bajaj Finserv AMC chief executive officer Ganesh Mohan said, “The growth reflects our journey of strategic investment decisions, disciplined risk management, and dynamic allocation, all under the theme of megatrend investing. This strategy allowed us to spread investments over time, reducing the impact of market volatility from geopolitical risks and optimizing our entry points. This approach ensured that our fund remained true to its label, dynamically adjusting market cap allocations and strategically selecting sectors based on evolving market conditions.”
Recently, the fund house launched its third equity scheme, the Bajaj Finserv Large Cap Fund. This was following a study by the AMC highlighting that large caps tend to be a relatively low-risk approach to investing in Indian equities as compared to small and mid caps, especially at the present market valuation. Large caps tend to fall less than their peers in mid and small cap space and thus recoup their losses much faster when sentiment turns. The current valuation of the large caps is closer to the long-term average of 23.1, indicating that the large caps are in the fair value zone for long-term investors.
