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New fund houses set-up headquarters outside Mumbai: Bengaluru and now Pune to play host

NAVI and Zerodha have their base in Bengaluru, while Bajaj Finserv will operate its mutual funds business from Pune

January 28, 2022 / 12:27 PM IST

Nimesh Chandan, former head of investments (equities) at Canara Robeco mutual fund has joined Bajaj Finserv’s upcoming mutual fund yesterday at its headquarters in Pune, on January 27. In August 2021, the fund house had announced that it had got its in-principle license from the capital market regulator, Securities and Exchange Board of India (SEBI). With Chandan on board as the head of investments, the fund house has now started the process of  building the rest of its team, including its fixed income group.

Pune gets its first mutual fund (MF) house headquartered in the city. Most fund houses have their headquarters in Mumbai.

Last year, NAVI Asset Management (AMC) set up its own headquarters in Bengaluru after it acquired Essel AMC. Zerodha’s upcoming fund house is also to be based in Bengaluru.

Closer to group companies than stock exchanges