Fund Name
3Y Returns

NJ Balanced Advantage Fund Direct Plan IDCW Payout Payout

Hybrid Dynamic Asset Allocation or Balanced Advantage


Moderately High


₹3,935.41 cr.

NJ Balanced Advantage Fund Direct Plan Growth

Hybrid Dynamic Asset Allocation or Balanced Advantage


Moderately High


₹3,935.41 cr.

NJ Arbitrage Fund Direct Plan Growth

Hybrid Arbitrage Fund




₹348.85 cr.

NJ Overnight Fund Direct Plan Growth

Debt Overnight Fund




₹129.67 cr.

NJ ELSS Tax Saver Scheme Direct Growth

Equity ELSS


Very High


₹165.11 cr.

NJ ELSS Tax Saver Scheme Direct IDCW Payout

Equity ELSS


Very High


₹165.11 cr.

About NJ Mutual Fund

NJ Wealth Mutual Fund is sponsored by NJ India Invest Private Limited (NJII), which is a flagship company of NJ Group. NJII was established in 1994 to cater to the various requirements of investors in the financial services sector. And being the sponsor of NJ Mutual Fund, NJII is obligated to fulfil its duties and obligations to the Fund in compliance with the regulations set forth by the Securities and Exchange Board of India (Mutual Funds). NJ Mutual Fund operates under the trusteeship of NJ Trustee Limited.

In 2009, the company got approval to launch its Portfolio Management Services (PMS). In 2021, they got a licence to launch their mutual fund schemes. This was followed by the launch of their first mutual fund scheme, NJ Balanced Advantage Fund, in October 2021. In 2022, they launched the NJ Arbitrage Fund and NJ Overnight Fund, followed by the NJ ELSS Tax Saver Scheme in 2023. NJ Group Mutual Fund follows a rule-based and quality-focused investment approach. Though they offer a limited number of mutual funds, they ensure to follow their four main investment factors: quality, value, low volatility and momentum.

NJ Group is one of the largest mutual fund distributor groups in India. As of September 2023, they have more than 31,400 active distributors and the Assets Under Management (AUM) is more than ₹1,60,000 crore. They are established in over 165 locations in 19+ states with over 1,800 employees.

NJ Mutual Fund Key Information

Founding date April 30, 2021
AMC Incorporation date October 21, 2005
Headquarters in Mumbai
Name of the sponsors NJ India Invest Private Limited (NJII)
Trustee organisation NJ Trustee Private Limited
MD and CEO Rajiv Shastri
Compliance Officer Punam Upadhyay


NJ Mutual Fund Managers


Rishi Sharma

Fund Manager since Jul 2022 (1 year)


Viral Shah

Fund Manager since Mar 2023 (1 year)

How to Invest in NJ Mutual Fund via Angel One?

Investing in the NJ Mutual Fund is a hassle-free process when done through your Angel One account. You just have to follow these steps:

Step 1: Log in to your Angel One account by entering your mobile number and validate the OTP. Next, enter your MPIN.

Note: In case you do not have an account with Angel One, you can open a demat account with us in under a few minutes by submitting the necessary documents.

Step 2: Determine which fund is most suited based on your needs and risk profile. You can learn more about each fund on the Angel One app. Things to consider at this stage are:

  1. Search for the fund you want to invest in or take cues from funds listed by Angel One across categories.
  2. Analyse the fund’s past performance, tax incidence, and the sectors and companies in which it invests. You can also calculate the potential returns using the calculator.
  3. Evaluate the fund’s level of risk and weigh it against your risk tolerance.
  4. Check the fund’s ratings given by reputed rating agencies. Generally, the ratings range from 1 to 5.
  5. Consider the fund’s expense ratio to get an idea about the cost of investing in it.

Step 3: Once you finalise the fund(s) you want to invest in, open your Angel One account, go to the Mutual Funds section, and look for it. Since this can be a long-term investment, be careful when choosing the fund that you would like to invest in.

  1. Decide whether you want to invest via SIP or make a one-time investment
  2. Next, decide your monthly SIP date. Now, enter the amount you want to invest and choose how you want to make the payment. UPI is the preferred mode. Alternatively, you can choose net banking
  3. After placing the order, in case of the SIP route of investment, you can create an AutoPay to make hassle-free future instalments.

Top 5 NJ Mutual Fund to Invest

Name of the Fund Sub Category AUM (₹ in crore) Minimum Investment (₹) Absolute Returns 1Y (%)
NJ Balanced Advantage Fund Balanced Advantage Fund 3,671.66 500 15.62%
NJ Arbitrage Fund Arbitrage Fund 339.54 5,000 7.16
NJ Overnight Fund Overnight Fund 131.18 5,000 6.46
NJ Flexi Cap Fund Flexi Cap Fund 504.38 500
NJ ELSS Tax Saver Scheme Equity Linked Savings Scheme (ELSS) 123.41 500

**All data as of October 11, 2023.

Note: These 5 funds from NJ Mutual Fund are sorted as per the 1-yr Absolute Return.

NJ Balanced Advantage Fund

This Balanced Advantage Fund by NJ Mutual Fund holds assets worth ₹3,671.66 crore. The fund has an expense ratio of 0.60%. Investors can start investing in NJ Balanced Advantage Fund with a minimum amount of ₹500. Balanced Advantage Funds invest in a mix of equities and fixed-income securities to provide a balance between growth potential and stability.

NJ Flexi Cap Fund

This fund from NJ Mutual Fund falls under the category of flexi-cap funds. The fund manages assets worth ₹504.38 crore and has an expense ratio of 0.38%. The minimum investment required to invest in this fund is ₹500. Being a flexi-cap fund, the fund invests in a diversified portfolio of equities across market capitalisations, offering flexibility to the fund manager to choose stocks based on market conditions and growth potential.

NJ Arbitrage Fund

NJ Arbitrage Fund comes under the category of arbitrage funds. The fund manages assets worth ₹339.54 crore, and the expense ratio for this fund is 0.31%. The minimum investment required to invest in this fund is ₹5,000. Being an arbitrage fund, the fund uses the strategy of simultaneously buying and selling securities in various markets to make use of price differences.

NJ Overnight Fund

This is an overnight fund from NJ Mutual Fund. It holds assets worth ₹131.18 crore, and the expense ratio for this fund is 0.05%. The minimum investment required to invest in this fund is ₹5,000. Overnight funds invest in very short-term debt instruments with a maturity of one day.

NJ ELSS Tax Saver Scheme

The NJ ELSS Tax Saver Scheme comes under the category of Equity Linked Savings Scheme (ELSS) fund. It holds assets worth ₹123.41 crore, and the expense ratio for this fund is 0.61%. The minimum investment required to invest in this fund is ₹500. ELSS funds primarily invest in equity and equity-related instruments and offer tax benefits.

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NJ Mutual Fund FAQs

Should I invest in the NJ Mutual Fund scheme?

NJ Mutual Fund comes under the NJ Group, which has a strong presence in the financial industry in India. They launched their first fund in 2021 and have well-experienced fund managers. However, you must evaluate a fund based on factors such as risk, volatility, and your return expectations.

How to start NJ Mutual Fund SIP online?

You can start investing in NJ MF SIP online in several ways. One of them is through AMC’s official website. But for a seamless experience, you can do it via Angel One.

How to redeem NJ Mutual Funds online?

For online investments, you can redeem your units in three ways. First, via the Angel One App under the Mutual Funds section. Second, by visiting Finally, you can also redeem your NJ Mutual Fund units by visiting AMC's website.

How much time does it take to redeem NJ Mutual Fund?

It takes T+2 working days to redeem NJ Mutual Fund units. On Angel One, you can see the tentative date of the transaction, which helps in planning your finances well.

What are the redemption charges of NJ Mutual Fund?

Redemption charges depend on the type of mutual fund you want to sell. You can check with the AMC for more details.

How to increase the SIP amount in a NJ Mutual Fund?

You can do this in three ways - by visiting, the Angel One App or the AMC’s official website.

How can I get the NJ Mutual Fund statement?

Getting the NJ Mutual Fund account statement is simple. Head to the Mutual Funds section in the Angel One App or visit Alternatively, you can get the statement by visiting the AMC’s official website.

Are NJ Mutual Fund schemes tax-free?

Not all schemes are tax-free. As with any other ELSS, the one offered by NJ MF also comes with tax benefits. By investing in NJ MF ELSS Funds, you can claim a tax deduction of up to ₹1.5 lakh under Section 80C every financial year.

What is the best NJ Mutual Fund?

The best NJ Mutual Fund depends on various factors personal to you (risk tolerance and return expectation) and regarding the fund’s performance (volatility, returns, risk, AUM, tracking error, and expense ratio). Choose a fund only after evaluating it based on the above factors. Also, take a look at the fund’s historical performance and how experienced the fund manager is.

What determines the taxes on mutual fund returns?

  1. Type of the fund - debt fund or equity fund
  2. Holding period - short term or long term. Note that the definition of short- and long-term depends on the type of fund
  3. Total capital gains on selling the fund
  4. Dividends received