Mutual funds approach SEBI with 50 NFO proposals
26/03/2015 18:10
Aiming to tap into the upbeat investor sentiment, mutual fund houses have filed draft papers with market regulator SEBI to launch over 50 New Fund Offers, reported PTI. Since the beginning of the year, draft documents for 53 NFOs have been submitted with the Securities and Exchange Board of India (SEBI). Of these, 21 draft offers have been filed so far this month, while 19 papers submitted in February and the other 13 were filed in January, said the media report. Some of the NFOs have already been launched after getting regulatory clearances. ICICI Prudential MF, IDBI MF, SBI MF, Edelweiss MF and HSBC MF are among the fund houses that are offering NFOs to investors. A large number of these schemes are aimed at investment in equity and equity-related securities. Besides, they are offering schemes like ‘Fixed Maturity Plan’ Manufacturing, retirement, economic recovery, resurgence of the business cycle and e-commerce are some of the themes that are attracting mutual fund houses. According to market participants, MF houses are rushing to SEBI to launch new schemes on account of good response received from investors in the recent fund launches. Besides, they said the NFO market has picked up as investors’ confidence about equity markets is back and participation from retail investors is also on the upswing.
26/03/2015 18:10
Aiming to tap into the upbeat investor sentiment, mutual fund houses have filed draft papers with market regulator SEBI to launch over 50 New Fund Offers, reported PTI. Since the beginning of the year, draft documents for 53 NFOs have been submitted with the Securities and Exchange Board of India (SEBI). Of these, 21 draft offers have been filed so far this month, while 19 papers submitted in February and the other 13 were filed in January, said the media report. Some of the NFOs have already been launched after getting regulatory clearances. ICICI Prudential MF, IDBI MF, SBI MF, Edelweiss MF and HSBC MF are among the fund houses that are offering NFOs to investors. A large number of these schemes are aimed at investment in equity and equity-related securities. Besides, they are offering schemes like ‘Fixed Maturity Plan’ Manufacturing, retirement, economic recovery, resurgence of the business cycle and e-commerce are some of the themes that are attracting mutual fund houses. According to market participants, MF houses are rushing to SEBI to launch new schemes on account of good response received from investors in the recent fund launches. Besides, they said the NFO market has picked up as investors’ confidence about equity markets is back and participation from retail investors is also on the upswing.
