NJ Mutual Fund, part of the 27-year-old NJ Group, has launched its maiden fund called NJ Balanced Advantage Fund, an open-ended dynamic asset allocation fund.
Rajiv Shastri, Director & Chief Executive Officer, NJ Asset Management Pvt. Ltd. said, “This launch marks the culmination of a process that began over a decade ago. Since 2010 our Portfolio Management Services have offered rule-based active investment approaches to discerning investors, which has made us among the largest PMS providers in the country. Combined with our learnings as one of India’s largest mutual fund distributors serving retail investors for more than 27 years, we are confident that our philosophy will be embraced by them as well.”
The scheme will invest in equity and debt securities through a rule-based active investment philosophy. The NFO will open for subscription on October 8, 2021, and closes on October 22, 2021.
The scheme will be benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index.
