NJ Mutual Funds – Latest MF Schemes, NAV, Performance
NJ Mutual Fund, managed by NJ Asset Management Private Limited, is part of the NJ Group through its sponsor NJ India Invest Pvt. Ltd. (NJII), a financial services company established in 1994. As of October 2025, the fund house manages ₹7,086.61 cr. in AUM, covering equity, hybrid, and debt categories. NJII, as the sponsor, fulfils all SEBI-mandated responsibilities, while the fund operates under the trusteeship of NJ Trustee Limited. The NJ Group expanded into portfolio management in 2009 and entered the mutual fund space after receiving SEBI approval in 2021. In this article, we have highlighted some of the top NJ mutual funds, their performance, fund managers, taxation and more.
List of NJ Mutual Funds
| Name | AUMi (in ₹ cr.) | CAGR 3Y (%) | Expense Ratio (%) | NAV (₹ per unit) | Exit Load (%) | Alpha | Volatility |
|---|---|---|---|---|---|---|---|
| NJ Balanced Advantage Fund | 3781.06 | 12.52 | 0.58 | 14.36 | 1 | - | 7.88 |
| NJ Flexi Cap Fund | 2438.74 | 0 | 0.54 | 13.8 | 1 | 1.52 | 12.87 |
| NJ ELSS Tax Saver Scheme | 306.88 | 0 | 0.56 | 14.75 | 0 | 3.31 | 14.33 |
| NJ Overnight Fund | 297.95 | 6.37 | 0.05 | 1224.88 | 0 | -0.02 | 0.03 |
| NJ Arbitrage Fund | 261.98 | 7.21 | 0.26 | 12.51 | 0 | -0.02 | 0.91 |
Disclaimer: Please note that the above list of the NJ mutual funds is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.
Note: The data on the list of the NJ mutual funds mutual funds is from 20th November 2025. This data is derived from the Tickertape Mutual Funds Screener.
- AMC: NJ Asset Management Private Limited
- Plan: Growth
- AUM: Sorted from highest to lowest
Pro Tip: You can use Tickertape’s Mutual Fund Screener to research and evaluate funds with over 50+ pre-loaded filters and parameters.
Key Information on NJ Mutual Funds
| Founding Date | 30 April 2021 |
| AMC Incorporation Date | 21 October 2005 |
| Headquarters | Mumbai |
| Sponsor | NJ India Invest Private Limited (NJII) |
| Trustee Organisation | NJ Trustee Private Limited |
| Asset Management Company (AMC) | NJ Asset Management Private Limited |
| MD & CEO | Mr. Vineet Nayyar |
| Investor Service Officer | Mr. Raja Ballapuram |
| Compliance Officer | Ms. Punam Upadhyay |
| SEBI Approval for PMS | 2009 |
| SEBI Approval for Mutual Fund Business | 2021 |
| Total AUM | ₹7,086.61 cr. (as of October 2025) |
Overview of the top NJ Mutual Funds
NJ Balanced Advantage Fund
NJ Balanced Advantage Fund follows a dynamic asset allocation strategy that adjusts equity and debt exposure based on the AMC’s rule-based, factor-driven model. The scheme aims to balance growth and stability by shifting allocations depending on prevailing market conditions.
NJ Flexi Cap Fund
NJ Flexi Cap Fund invests across large-cap, mid-cap, and small-cap companies without any fixed allocation limits. The fund uses NJ AMC’s systematic, rules-based framework to identify stocks based on factors such as quality, value, low volatility, and momentum.
NJ ELSS Tax Saver Scheme
NJ ELSS Tax Saver Scheme is an equity-linked savings scheme with a three-year lock-in period, structured around a diversified equity portfolio. The AMC follows its quantitative investment process to select companies across market segments while maintaining a disciplined, factor-oriented approach.
NJ Overnight Fund
NJ Overnight Fund invests in overnight securities with a maturity of one day. The fund is designed to provide high liquidity and minimal interest-rate sensitivity by focusing on short-term money market instruments within a regulated overnight framework.
NJ Arbitrage Fund
NJ Arbitrage Fund seeks to capture the price difference between cash and derivatives markets through arbitrage strategies. The fund combines hedged equity positions with short-term debt exposure, following a rule-based approach to manage volatility and maintain consistency.
How to Invest in the NJ Mutual Funds?
You can easily start to invest in the NJ mutual funds in India by following these steps:
- Visit an equity investment platform such as smallcase
- The next step is to research and identify the best NJ mutual funds, based on your investment thesis. Tools like the Tickertape Mutual Fund Screener can help you filter and compare funds based on parameters such as returns, expense ratio, and fund size.
- Once you shortlist the funds, visit smallcase, log in, and search for the fund by name. You can then choose the investment mode, either a one-time lump sum or a SIP investment plan, and complete the process.
Top Fund Managers at NJ Mutual Funds
Dhaval Patel
Dhaval Patel manages several NJ Mutual Fund schemes across equity, hybrid, and debt categories, with more than 15 years of experience in investment analysis and portfolio management. His background includes an MBA in Finance and engineering, supporting his analytical approach. Currently, Dhaval is managing the NJ Flexi Cap Fund Direct Growth, the NJ Balanced Advantage Fund, among others.
Viral Shah
Viral Shah oversees multiple schemes at NJ AMC and is known for applying the fund house’s systematic, factor-based investment process. His role focuses on maintaining consistency in portfolio construction aligned with NJ’s quality, value, low-volatility, and momentum framework.
Taxation on NJ Mutual Funds
Mutual fund taxation in India depends on whether a scheme is classified as equity, debt, or hybrid. Each category has different holding periods and tax rates for short-term and long-term capital gains. Below is a quick breakdown of how taxation works across major mutual fund types.
Equity Mutual Funds
| Type of Gain | Holding Period | Tax Rate |
| Short-Term Capital Gains (STCG) | Less than 12 months | 20% |
| Long-Term Capital Gains (LTCG) | More than 12 months | 12.5% (gains up to ₹1.25 lakh exempt) |
Debt Mutual Funds
| Type of Gain | Holding Period | Tax Rate | Indexation Benefit |
| STCG | Less than 36 months | Taxed as per income tax slab | Not applicable |
| LTCG | More than 36 months | 12.50% | Not available |
Hybrid Mutual Funds
| Type of Fund | STCG | LTCG | Indexation Benefit |
| Equity-Oriented Hybrid Funds | 20% for holdings < 1 year | 12.5% for holdings > 1 year; gains up to ₹1.25 lakh exempt | Not available |
| Debt-Oriented Hybrid Funds | Taxed as per slab for holdings < 3 years | 12.5% for holdings > 3 years | Not available |
Documents Required To Invest in NJ Mutual Funds
- PAN Card details – mandatory for all mutual fund investments.
- Personal information – full name, mobile number, email address, and other basic details.
- Address proof – Aadhaar (front and back), passport, or any SEBI-accepted address document.
- Bank account details – including account number, IFSC, and a cancelled cheque if required for verification.
- Nominee details – to register one or more nominees for the investment.
- FATCA/CRS declarations – compulsory self-declaration as per regulatory guidelines.
Risks of Investing in NJ Mutual Funds
- Market Risk: Equity and hybrid schemes can fluctuate with overall market movements. Portfolio value may rise or fall depending on economic conditions, company performance, and market cycles.
- Factor Performance Risk: NJ AMC follows a quantitative, factor-based model built on quality, value, low volatility, and momentum. These factors do not outperform at all times. Periods where a particular factor loses strength may lead to temporary underperformance, even if the broader market is rising.
- Data Dependence Risk: Rule-based investing depends on accurate data inputs and timely model execution. Any delay in rebalancing, abrupt market swings, or unexpected price movements can affect how effectively the model captures signals.
- Scheme-Specific Risk: Each NJ Mutual Fund scheme carries its own set of risks based on its structure and investment objective. For example, equity-focused funds are affected by market movements and volatility, whereas changes in interest rates, liquidity conditions, or credit quality may impact debt-oriented funds.
Factors to Consider Before Investing in NJ Mutual Funds
- Rule-Based Investment Philosophy: NJ Mutual Fund operates on a structured, quantitative model that selects securities based on factors such as quality, value, low volatility, and momentum. This approach reduces discretionary decision-making and creates a consistent framework, but its effectiveness varies across market phases depending on how each factor performs.
- Investment Horizon Alignment: NJ’s schemes differ in how they behave across time frames. Equity-heavy schemes tend to experience periods of volatility, while Overnight and Arbitrage Funds are shaped more by short-duration dynamics. The expected holding period influences how each scheme’s performance trends play out.
- Lock-In Requirements: The NJ ELSS Tax Saver Scheme includes a mandatory three-year lock-in period. This restriction defines when units can be redeemed and contributes to the overall structure of the product.
- Cost Structure and TER Behaviour: The Total Expense Ratio (TER) varies across scheme categories and plan types. Since NJ AMC uses systematic rebalancing and factor-based filters, cost structures remain an important structural feature in understanding net outcomes over time.
- Nature of the Scheme: Each NJ scheme reflects a different mix of equity, debt, or hybrid exposure. Flexi Cap and ELSS schemes carry full equity market sensitivity, while Balanced Advantage relies on changing allocation signals. Understanding the schemes and related risks can help investors make wise investment decisions.
Conclusion
NJ Mutual Fund’s rule-based, factor-driven process offers consistency, transparency, and a disciplined approach to portfolio construction. The structured use of quality, value, low volatility, and momentum factors helps create a clear framework that reduces discretionary decision-making. However, performance varies across market phases, model signals can behave differently during rapid movements, and category-specific risks. That’s why it’s important for the investors to conduct a thorough analysis and consult a financial advisor before investing.
For those assessing NJ Mutual Fund schemes as part of their broader investment universe, mutual funds on smallcase can be explored and invested in through a simple and seamless process, based on individual preferences and research.
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Frequently Asked Questions on NJ Mutual Funds
NJ Mutual Fund is managed by NJ Asset Management Private Limited and operates under the NJ Group. The AMC follows a rule-based, factor-driven investment approach across equity, hybrid, and debt categories.
NJ Mutual Fund follows a systematic, factor-driven investment framework that emphasises consistency and transparency. Whether a scheme is suitable depends on the fund category, market conditions, and an individual’s financial preferences.
Disclaimer: Please note that the above information is for educational purposes only, and is not recommendatory.
As of 25th November 2025, as per 1Y returns, some of the best NJ mutual funds include:
– NJ Arbitrage Fund
– NJ Overnight Fund
– NJ Balanced Advantage Fund
– NJ ELSS Tax Saver Scheme
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory.
NJ Mutual Fund offers schemes across equity, hybrid, and debt categories. The lineup includes Flexi Cap, ELSS, Balanced Advantage, Arbitrage, and Overnight Funds. Each category follows the AMC’s rule-based, factor-driven investment process, with varying levels of market exposure and risk characteristics.
NJ Flexi Cap Fund Direct Growth is the direct plan of NJ’s Flexi Cap scheme that invests across large-cap, mid-cap, and small-cap companies without fixed allocation limits. The portfolio is constructed using NJ AMC’s quantitative model, built on factors such as quality, value, low volatility, and momentum
NJ Wealth is the distribution and wealth-management platform of the NJ Group, while the actual mutual fund schemes are issued under the brand NJ Mutual Fund, managed by NJ AMC. The two operate within the same group but serve different functions.
