The market isn’t your enemy—your biases are: Bajaj MF chief

It was a counter-intuitive message delivered by Ganesh Mohan, the managing director of Bajaj Finserv Mutual Fund, to eager investors at the Mint Money Festival 2026.

- Ann Jacob

Speaking at the NSE Atrium in Mumbai, Mohan focused not only on markets or products, but on a relationship that often damages confidence and capital—the one between investors and their own minds.Addressing the long-running debate between DIY (do it yourself) investing and professional advice, Mohan stripped away industry jargon to highlight a striking shift underway. India, he said, is in the middle of a transition from savers to investors. “In past five years, the ratio of mutual fund assets to bank deposits has almost doubled,” Mohan noted.

Besides, nearly half of the new mutual fund inflows now come through direct channels, raising a critical question: are investors navigating markets with a plan, or just following loudest social media voices?

Mohan pointed to what he described as a modern paradox—the rise of financial influencers. While 80% of followers admit to being influenced by these online voices, only 2% are registered with the Securities and Exchange Board of India (Sebi), he said. The risk, he argued, goes beyond poor advice; it undermines the single most important ingredient for long-term success. “In the markets, the answer to success is discipline. Discipline is so critical, why is it so rare? The answer, he said, lies in human psychology.