What is the update on the NJ Mutual Fund latest NFO in the mutual funds market?

NJ Mutual Fund is the latest entrant in the mutual funds market and it has managed to collect a whopping Rs.5,200 crore in its debut fund. To an extent it was riding on the SBI MF wave, as it made its debut with the NJ India Balanced Advantage Fund. For a maiden NFO in India, this is record collections in India.

NJ Mutual Fund aims to offer a complete platter of passive schemes to investors, who are more attuned to active funds all these years. But MF data shows that there is a market for passive schemes and that market is growing. NJ is the largest distributors of mutual funds in India through its agent network and this is a case of forward integration by a distribution into the mutual fund origination space.