Produced by: Basudha Das
Around 12 mutual fund NFOs were launched in April. Of these 12 NFOs, three schemes are still under their NFO period.
Around seven index funds were launched in April. Tata Mutual Fund offered six funds: Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund, Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund The seventh one, Edelweiss Nifty Alpha Low Volatility 30 Index Fund, is still under its NFO period.
In April, two thematic funds were launched — Bandhan Innovation Fund and HDFC Manufacturing Fund. HDFC Manufacturing Fund is still open for subscription and will close on May 10.
Two fixed maturity plans were launched in April. Aditya Birla Sun Life Mutual Fund launched Aditya Birla SL FMP-UU-91D and its NFO period is still on. Kotak Mutual Fund launched Kotak FMP-330-98D.
Trust Mutual Fund launched TRUSTMF Flexi Cap Fund. It has reopened for subscription and redemption from April 26.
SO far, 3 new NFOs have been launched in May. These are: Axis Mutual Fund's Nifty Bank Index Fund, Groww Mutual Fund's Nifty Non-Cyclical Consumer Index Fund.
In 2023-24, asset management companies (AMCs) floated 185 new fund offerings mobilising Rs 66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year.
The January-March period of 2024 saw the highest number of NFOs at 63 with the fund mobilisation totalling Rs 22,683 crore.
The October-December period of 2023, AMCs introduced 49 NFOs and mobilised Rs 16,093 crore.
Business Today provides market and mutual fund news for informational purposes only and that should not be construed as investment advice. It's important to remember that past performance does not indicate future results. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.