BAJAJ FINSERV ASSET MANAGEMENT LIMITED.
Bajaj Finserv Limited, one of India’s oldest and most diversified conglomerates, is a leading financial company in the country. The organisation serves crores of people, helping them meet their life goals through various financial solutions.
Bajaj Finserv’s offerings span savings products, consumer and commercial loans, mortgages, auto financing, securities brokerage services, general and life insurance, and investment management. This breadth enables the company to function as a ‘financial services lifecycle partner to every Indian.’
The company is listed on both the BSE Sensex and Nifty 50, underscoring its standing among India’s foremost large-cap enterprises.
Driven by a focus on innovation, data, and analytics, Bajaj Finserv continues to accelerate its digital transformation, develop new financial products, and expand into adjacent lines of business, with the aim of deepening its reach and improving the experience for customers, partners, and shareholders alike.
Bajaj Finserv is part of the Bajaj Group, one of India’s oldest and most respected conglomerates. The group was founded in 1926 by Shri Jamnalal Bajaj, an industrialist, philanthropist, and a committed participant in India’s freedom movement.
A close associate of Mahatma Gandhi, Jamnalal Bajaj’s foundational belief that the common good takes precedence over individual gain has shaped the group’s culture across generations.
His sons, Shri Kamalnayan Bajaj and Shri Ramkrishna Bajaj, carried this legacy forward. Shri Kamalnayan Bajaj took on the responsibility of leading the group from the 1940s onward, transforming the group into one of India’s top business entities by the 1960s.
The legacy was further strengthened under the leadership of Shri Rahul Bajaj, who played a pivotal role in shaping the group’s modern identity.
Today, the Bajaj Group comprises 40 companies with interests spanning automobiles, finance, home appliances, lighting, iron and steel, insurance, and travel. Its flagship company, Bajaj Auto, is the world’s fourth-largest manufacturer of two- and three-wheelers.
The group’s market capitalisation is approximately Rs. 1,30,000 crores, with a pre-tax profit of over Rs. 8,000 crores.
Bajaj Finserv operates as an unregistered Core Investment Company (CIC) and holds significant stakes in a group of specialised financial services businesses:
Bajaj Finserv holds a 51.32% stake in Bajaj Finance Limited, a listed non-bank financial company. Bajaj Finance Limited is also included in the Nifty 50 and BSE Sensex. Its subsidiaries include:
Bajaj Finserv holds a 75.01% stake in each of its two insurance subsidiaries:
Bajaj Finserv holds an 80.10% stake in Bajaj Finserv Direct Limited, a diversified financial services and e-commerce marketplace operating on an open architecture model. It covers loans, cards, insurance, investments, payments, and lifestyle products under the Bajaj Markets brand.
Bajaj Finserv’s wholly owned subsidiaries reflect its strategy of entering high-growth adjacent sectors:
Bajaj Finserv is committed to using technology as a lever for growth and customer satisfaction. The organisation is accelerating its digital transformation across all business lines, with the goal of delivering seamless, simplified and personalised experiences.
The company has established a dedicated Technology and Innovation Centre to drive continuous innovation across its group companies
This focus on technology is not limited to customer-facing products. Data analytics and digital workflows are increasingly embedded into credit assessment, underwriting, operations and compliance processes across the group.
The ethos of Bajaj Finserv draws directly from the values of its founder, Shri Jamnalal Bajaj. His conviction that individual gain must yield to the common good continues to shape the group’s approach to business and society.
These values are embedded in the DNA of every Bajaj company. The Jamnalal Bajaj Award, established in 1978 continues to honour individuals who carry forward his legacy.
| 2000–01 | Bajaj General Insurance Company and Bajaj Life Insurance Company launched as joint ventures with Allianz SE. |
| 2007 | Bajaj Finserv Limited incorporated following demerger from Bajaj Auto Limited to focus exclusively on financial services. |
| 2010 | New brand identity unveiled; headquarters established at Viman Nagar, Pune. Bajaj Auto Finance renamed Bajaj Finance Limited. Bajaj Financial Securities incorporated. |
| 2012 | 1:10 rights issue of Rs. 940 crores completed at Rs. 650 per share (pre-split, pre-bonus). |
| 2018 | Included in Forbes Super 50 Companies list. Enlisted in Nifty 50. |
| 2020 | Inducted into BSE Sensex. |
| 2021 | Bajaj Finserv Health launched. Bajaj Finserv Ventures and Bajaj Finserv Asset Management established. |
| 2022 | BEYOND employability initiative formally branded. SEBI in-principle approval received for mutual fund business. 5:1 equity stock split and 1:1 bonus issue completed. |
Beyond its business operations, Bajaj Finserv also focuses on creating meaningful social impact. Its corporate social responsibility programmes address health, education, child protection, skilling and inclusion for persons with disabilities.
To date, Bajaj Finserv and its group companies have collectively touched over 2 million lives through more than 200 partner-implemented programmes across India.
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Bajaj Finserv Limited, an unregistered Core Investment Company (CIC) under RBI Regulations 2020, is a part of the renowned Bajaj Group.
One of India’s leading and most diversified financial services institutions, Bajaj Finserv Ltd provides simple financial solutions to crores of people every day through its group companies. Through continuous innovation, it strives to enrich the lives of communities across the length and breadth of the country and make financial security accessible to all.
Our Investment Philosophy reflects what we, as an organisation, believe will generate a good return on equity investment for our investors in the long term. It dictates our goals and guides decision making.
Alpha (a) is a term used in investing to describe an investment strategy’s ability to beat the market.
Alpha is thus also often referred to as excess return or the abnormal rate of return in relation to a benchmark, when adjusted for risk. Essentially, it means doing better than the crowd without taking disproportionate risk.
Collecting superior information
Analysts and portfolio managers strive to collect superior information about the business and the management of the company. They try to generate superior earnings forecast and the balance strength of the company and the industry, thereby trying to 'beat the market' on information edge. This is an important source of alpha for an investor. However, over the years, retaining the information edge has become more difficult and expensive. With a whole lot of investors trying to collect superior information, how can an investor be sure to continuously have accurate and material information about the companies, ahead of others, all the time?
Processing information better
Even if you don't have material information earlier than the crowd, you can still generate better outcomes if you are able to process this information better. Investors develop models and algorithms with enhanced predictive powers to forecast the next move. Fund managers who invest based on some pure formal analytical models are quantitative managers. Here, the goal is to try and beat other investors based on the sophistication of procedures or analytics. The analytical edge can be quite useful until it gets copied by many, and then it may stop generating superior returns.
Exploiting behavioural biases
As the name suggests, this edge is achieved by superior behaviour in reacting to the inputs available to maximise alpha. Modern finance assumes people behave with extreme rationality. However, researchers in behavioural finance have shown that this is not true. Moreover, these deviations from rationality are often systematic. Behavioural managers try to exploit situations where securities are mispriced by the market because of behavioural factors. At Bajaj Finserv AMC, we endeavour to combine the best of these edges.
