NJ Mutual Fund
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.
- Company typePrivate
- Founded1994
- HeadquartersSurat, India
- Headcount101–250
- GTM typeB2C
- OfferingServices
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.
NJ Mutual Fund firmographics
Firmographics- 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
NJ Mutual Fund industry classification
Industry- 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
Where NJ Mutual Fund is headquartered
LocationHeadquarters
- HQ city
- Surat
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
NJ Mutual Fund business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- 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.
- 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
NJ Mutual Fund product offering
Product offeringCore 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
Companies that use NJ Mutual Fund
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
NJ Mutual Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature2 records
NJ Mutual Fund partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- NJ India Invest Private LimitedcoreNJ 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
NJ Mutual Fund competitors and assessment
Company assessmentDirect 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
NJ Mutual Fund social profiles
Digital presenceNJ Mutual Fund compliance and trust
Trust signalCompliance1 record
NJ Mutual Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
NJ Mutual Fund leadership team
Management profileNumber of profiles
Profiles13 records
NJ Mutual Fund subsidiaries and ownership
Company hierarchySubsidiaries8 records
NJ Mutual Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NJ Mutual Fund M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NJ Mutual Fund
What does NJ Mutual Fund do?
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.
Is NJ Mutual Fund a public or private company?
NJ Mutual Fund is a private company. It is classified as corporate owned and is currently operating.
When was NJ Mutual Fund founded?
NJ Mutual Fund was founded in 1994. It employs 101 to 250 people.
Where is NJ Mutual Fund based?
NJ Mutual Fund is headquartered in Surat, India, in the Asia region.
How does NJ Mutual Fund make money?
Two revenue lines are on record. Mutual Fund Management Fees are the primary driver. The others are distribution Revenue.
Who are NJ Mutual Fund's main competitors?
Direct peers on record are SBI Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Kotak Mahindra Mutual Fund, Aditya Birla Sun Life Mutual Fund, DSP Mutual Fund, HDFC Mutual Fund, Quantum Mutual Fund, Nippon India Mutual Fund and Axis Mutual Fund.
Does NJ Mutual Fund have an API?
No public API is recorded for NJ Mutual Fund.
What industry is NJ Mutual Fund in?
NJ Mutual Fund's product category is Asset Management / Mutual Funds. Its primary akta.pro industry code is FSAAAEAJ, Sector & Thematic Mutual Funds, with a secondary code of FSAAAEAB, Fixed Income Mutual Funds. Its NAICS code is 525910 and its SIC code is 6282.