NJ Mutual Fund

What NJ Mutual Fund does

NJ Mutual Fund, operated by NJ Asset Management Private Limited, is a SEBI-registered Indian mutual fund company that manages seven open-ended schemes spanning equity (Flexi Cap, ELSS Tax Saver, Momentum, Value), hybrid (Balanced Advantage), and debt (Overnight, Arbitrage) categories, complemented by a Portfolio Management Services (PMS) business and a GIFT City-based offshore fund (NJ India Opportunities Fund). The firm's core proposition is rule-based, factor-driven investing, executed through a proprietary NJ Smart Beta Research Platform that supports systematic factor parameter development, robustness backtesting, and risk-return analysis, paired with the educational NJ Factor Book resource.

The business generates revenue primarily through asset management fees on its ₹11,256.78 Crore AUM (as of June 30, 2026) and distribution commissions from its network of 55,283+ active distributors across 236+ locations in 23 Indian states. The go-to-market combines direct-to-consumer digital channels (the Invest Now online portal with KYC and SMS services) with a deep empaneled-distributor channel for advisor-driven sales. Customers are predominantly retail (4,33,861 individual investors as of June 2026) plus NRI investors from the USA and Canada, serviced through the NJ India Invest Private Limited (NJII) sponsor and a group ecosystem that includes NJ Wealth, NJ Insurance, NJ Capital, NJ Technologies, and a charitable foundation.

Name

NJ Mutual Fund

Legal name

NJ Asset Management Private Limited

Website

https://njmutualfund.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

NJ Mutual Fund is an Indian SEBI-registered asset manager offering seven equity, hybrid, and debt mutual fund schemes alongside PMS and GIFT City products, serving 4,33,861 retail and NRI investors through a 55,283+ distributor network using a proprietary rule-based Smart Beta investment methodology.

Ownership category

akta.pro rank

Product category

Asset Management / Mutual Funds

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Sector & Thematic Mutual Funds (FSAAAEAJ)

akta.pro secondary industries

Fixed Income Mutual Funds (FSAAAEAB), Private Client/High-Net-Worth Advisory (FSAEAAAN)

Keywords

• Mutual fund schemes
• Portfolio management services
• Factor-based investing
• Asset management services
• Rule-based investing

Headquarters

HQ city

Surat

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Mutual Fund Management Fees: Revenue generated through asset management fees charged on assets under management across NJ Mutual Fund schemes including NJ Balanced Advantage Fund, NJ ELSS Tax Saver, NJ Flexi Cap Fund, NJ Overnight Fund, NJ Arbitrage Fund, NJ Momentum Fund, and NJ Value Fund.
2. Distribution Revenue: Commissions earned through the network of 55,283+ active distributors empaneled across 236+ locations. Distributors can empanel through distributor.njmutualfund.com.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

NJ Mutual Fund is a SEBI-registered mutual fund that offers seven rule-based mutual fund schemes spanning equity (Flexi Cap, ELSS Tax Saver, Momentum, Value), hybrid (Balanced Advantage), and debt (Overnight, Arbitrage) categories, along with Portfolio Management Services and a GIFT City offshore fund. The fund applies a systematic, rule-based factor investing methodology supported by its proprietary Smart Beta Research Platform to construct and backtest portfolios. Distribution occurs through a self-service online portal and an empaneled network of 55,283+ active distributors across India.

Product overview

NJ Mutual Fund is a rule-based investment mutual fund company sponsored by NJ India Invest Private Limited. The company offers a portfolio of 7 mutual fund schemes including equity funds (Flexi Cap, ELSS Tax Saver, Momentum, Value), hybrid funds (Balanced Advantage), and debt funds (Overnight, Arbitrage). Additional offerings include Portfolio Management Services (PMS) through four baskets and GIFT City investment products. The investment philosophy is centered on rule-based factor investing, supported by proprietary technology platforms including the Smart Beta Research Platform for factor development and backtesting, and the Factor Book educational resource.

Differentiator

Problem solved

Functional benefit

Brands

• NJ Smart Beta: A holistic and proprietary research platform used by NJ researchers to develop factor parameters, backtest them for robustness, and analyse risk and return characteristics.
• NJ Factor Book
• NJ FIO

Products and services

• NJ Balanced Advantage Fund
• NJ ELSS Tax Saver Fund
• NJ Flexi Cap Fund
• NJ Overnight Fund
• NJ Arbitrage Fund
• NJ Momentum Fund
• NJ Value Fund
• NJ Portfolio Management Services (NJ PMS)
• NJ India Opportunities Fund (GIFT City)

Quantifiable outcome

• ₹11,256.78 Cr AUM managed for 4,33,861+ happy investors across NJ MF, PMS & Gift City products

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature2 records

Partnerships

One partnership is on record.

• NJ India Invest Private LimitedcoreStrategic or Co-development PartnerNJ India Invest Private Limited (NJII) is the sponsor of NJ Mutual Fund. Established in 1994 by Mr. Niraj Choksi and Mr. Jignesh Desai, NJII is the flagship company of the NJ Group, a diversified business group with presence in financial services (distribution, asset management, insurance broking, credit/loans, offshore funds), IT services, training & education, FMCG, and real estate. NJII is responsible for discharging functions per SEBI (Mutual Funds) Regulations.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SBI Mutual Fund: India's largest AMC by AUM with a comprehensive portfolio of equity, debt, and hybrid schemes, leveraging SBI's banking branch network for distribution; directly comparable as a multi-scheme, multi-channel Indian mutual fund operator.
• ICICI Prudential Mutual Fund: Large Indian AMC with a full suite of equity, debt, hybrid, and tax-saving schemes distributed via a wide branch and advisor network; directly comparable to NJ MF in scheme breadth, SEBI oversight, and distribution-led GTM.
• Motilal Oswal Mutual Fund: Indian AMC known for systematic, factor-based strategies and index/fund-of-fund products; particularly comparable to NJ MF given the rule-based, factor-tilted investment philosophy and emphasis on quantitative research.
• Kotak Mahindra Mutual Fund: Indian AMC offering a full suite of equity, debt, and hybrid schemes with a strong direct digital channel and bank-led distribution; directly comparable in product mix, GTM, and Indian mutual fund focus.
• Aditya Birla Sun Life Mutual Fund: Major Indian AMC with broad equity, debt, and hybrid scheme offerings and extensive distributor and direct channels; directly comparable in scheme range, AUM profile, and Indian retail-distribution focus.
• DSP Mutual Fund: Mid-to-large Indian AMC with diversified equity, debt, and hybrid schemes and a research-led investment process; directly comparable as a multi-scheme Indian mutual fund operator targeting retail and HNI segments.
• HDFC Mutual Fund: One of India's largest AMCs offering diversified equity, debt, and hybrid mutual fund schemes to retail and institutional investors through a pan-India distributor and direct digital network; directly comparable to NJ MF's product mix, GTM, and SEBI-regulated mutual fund business.
• Quantum Mutual Fund: Boutique Indian AMC focused on disciplined, research-driven, low-turnover strategies across equity and debt; comparable to NJ MF as a smaller, philosophy-led AMC with a differentiated, rules-based investment approach.
• Nippon India Mutual Fund: Large Indian AMC offering diversified equity, debt, hybrid, and themed schemes with a pan-India distributor network; directly comparable in product suite breadth and SEBI-regulated mutual fund distribution model.
• Axis Mutual Fund: Indian AMC with diversified equity, debt, and hybrid schemes distributed through a large advisor and bank network; directly comparable in scheme breadth, distributor-led GTM, and SEBI-regulated mutual fund operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nj-mutual-fund

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NJ Mutual Fund