The NJ Group Story: How Two Friends Redefined Mutual Fund Distribution in India

14th July 2025: In the heart of India’s financial landscape, the NJ Group has become a shining example of how determination and vision can transform lives. Founded in 1994 by Mr. Neeraj Choksi and Mr. Jignesh Desai, these two friends started their journey from a small home office in Surat. Fresh out of university, they were eager to make a difference in the world of finance, even when many people were skeptical about investing in mutual funds. Despite the odds, their passion for mutual funds and commitment to educating potential investors kept them motivated.

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Neeraj and Jignesh faced numerous challenges in the beginning. Mutual funds were a new concept for most Indians, and convincing people to invest their hard-earned money was no easy task. However, their passion for financial education and their belief in the power of investing kept them motivated. They worked tirelessly, educating potential investors about how mutual funds could help them secure their financial future. This commitment to transparency and trust laid the groundwork for a successful business.

As they built their network, the equity markets began to turn favorable, and NJ Group experienced exponential growth. Today the firm has become one of India’s largest mutual fund distributors.

Over the years, NJ Group grew rapidly. They expanded from mutual funds into other areas like insurance and asset management. Today, NJ Group manages over 2,70,322 Cr. crores in assets and has more than 2,410 employees across 230 locations in India. Their flagship business, NJ Wealth, has over 47,875 active distributors, all working hard to spread financial awareness and provide access to mutual funds.

Neeraj Choksi and Jignesh Desai have always believed that financial services should be available to everyone, regardless of their background. They understand that despite their success, there are still many challenges to overcome. Only about 3% of India’s population invests in mutual funds, which is far lower than in countries like the US and the UK. They see this as an opportunity—a chance for young entrepreneurs and aspiring distributors to join them in changing the way people think about finance.

The duo is committed to empowering others to become mutual fund distributors, helping to create a network that can reach more people. They know that with increased financial literacy, more individuals can participate in the economy and improve their lives. As India looks toward a brighter future, Neeraj and Jignesh are excited about the potential for growth in the mutual fund industry. They encourage young people to see this as a career opportunity, emphasizing that the stage is set for a financial revolution.

Their journey is not just about building a business; it’s about making a real impact on society. Neeraj and Jignesh often remind everyone, “Mutual funds sahi hai”—a phrase that captures their belief in the value of investing. Their story is a powerful reminder that with hard work, dedication, and a desire to help others, anyone can achieve their dreams and contribute to a greater cause. The NJ Group continues to lead the way, inspiring countless individuals to join them in their mission of financial inclusion and prosperity for all.

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