Mirae Asset Mutual Fund names Basant Bafna to lead fixed income as Mahendra Jajoo completes CIO transition

Mirae Asset Investment Managers (India) has announced the transition of Chief Investment Officer (CIO) – Fixed Income, Mahendra Jajoo, and named Basant Bafna to assume responsibility for overseeing the fixed income portfolio.

Jajoo will be moving on from the organisation to pursue the next chapter in his professional journey. Basant Bafna, who is Senior Fund Manager and Dealer – Fixed Income, has over 14 years of experience in the financial sector and has been associated with Mirae Asset since December 2022. Bafna will work towards strengthening Mirae Asset Mutual Fund’s debt investment capabilities, according to the fund house.

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Over the years, Mahendra Jajoo has been instrumental in shaping our business, leading with a calm, steady hand and a deeply professional approach. He has helped build a strong and resilient foundation for Mirae Asset Mutual Fund in India, strengthening our franchise, nurturing key relationships, and setting up platforms that will support the organisation’s growth in the years ahead, the fund house said.

During his tenure between August 2016 and now, under Mahendra Jajoo’s leadership, the fund house’s debt AUM rose from Rs 321 crore (as on 22 August 2016) to over Rs 32,000 crore (as on 30 November 2025), against the backdrop of a tough credit and interest rate landscape.

“The biggest testimony of his achievement would be his ability to navigate through volatile times and keep all our portfolios clean and without any credit issues during his tenure,” said Swarup Mohanty, Vice Chairman and CEO, Mirae Asset Investment Managers (India) Pvt. Ltd.

Beyond the numbers and milestones, Jajoo will be remembered for the way he worked with integrity, respect and empathy. Colleagues across teams have valued his openness, his willingness to mentor, and his ability to bring people together around a shared purpose, the fund house said.

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“Everyone at Mirae Asset is grateful for his contribution and the positive mark he leaves on our culture and business. We extend our heartfelt thanks and wish him every success and fulfilment in his future endeavours,” added Swarup Mohanty.