Unifi Capital gets nod for MF biz; Bajaj Finserv MF launches new fund

Unifi Capital gets in-principle approval for MF business
 

Unifi Capital has obtained an in-principle approval from the Securities and Exchange Board of India (Sebi) for a mutual fund foray. The company has been operating as a portfolio manager since 2001 and currently manages over Rs 20,000 crore on behalf of about 10,000 portfolio management services and alternative investment funds. “Within the regulatory framework, we have more than enough space to offer differentiated investment strategies that mutual fund investors are yet to be served,” said Sarath Reddy, founder of Unifi Capital.

Bajaj Finserv MF launches balanced advantage fund
 

Newly-formed Bajaj Finserv Asset Management has announced the launch of a balanced advantage fund (BAF) — schemes that dynamically invest in both equity and debt. The new fund offer (NFO) for the scheme opens on November 24 and closes on December 8. “Given that we are a new entrant, we have the opportunity of looking at things afresh. Our BAF is yet another example of that approach. Here, both behavioural sciences and financial insights are ‘balanced’, to help us make our investment decisions,” said Ganesh Mohan, CEO, Bajaj Finserv Asset Manage­ment, an 100 per cent subsidiary of Bajaj Finserv. BS REPORTER

Aditya Birla MF US Treasury NFO mops up Rs 200 crore
 

Aditya Birla Sun Life AMC has collected close to Rs 200 crore for its US Treasury Bond exchange traded fund (ETF) fund of funds’ new fund offer (NFO), which were open between October 16 and Octo­ber 30. The asset manager had launched two funds bench­ma­rked to US Treasury 1-3 year Bond ETF and 3-10 year Bond ETF. “Almost 7,000 investors have capitalised on this unique oppo­rtunity and invested in Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds NFO. We believe the Federal Reserve is unlikely to hike rates going forward and any increase in yields should be looked upon as an opportunity to buy US treasuries as rate cuts to start from end of next year or early 2025,” said A. Balasubr­am­anian, managing director & CEO, Aditya Birla Sun Life AMC. BS REPORTER