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12 New Fund Offers open for subscription


Fund houses are busy launching new fund offers or NFOs even as investment experts are worried that rich valuations and the possibility of hardening interest rates may spoil the mood in the market.

As per Association of Mutual Funds in India (Amfi), 12 new fund offers (NFOs) from 11 fund houses are open for subscription at this moment, including Aditya Birla Sun Life Business Cycle Fund, Axis Nifty 50 Index Fund and Edelweiss Large & Midcap Index Fund.

ICICI Prudential S&P BSE 500 ETF FOF, IDFC MULTI CAP FUND, IIFL QUANT FUND, ITI Banking and Financial Services Fund and Mirae Asset Hang Seng TECH ETF are also among the funds whose NFOs are open for subscription.

NFOs

Equity-oriented mutual funds saw an inflow of Rs 5,215 crore in October, making it the eighth consecutive monthly net infusion.

However, the quantum of net inflows dropped from the previous month. In September, equity funds had seen an inflow of Rs 8,677 crore, as per Amfi data.

Apart from equities, the hybrid category saw net inflows to the tune of Rs 10,437 crore compared to Rs 3,587 crore seen in the previous month.

The Fund of Funds, Index Funds and ETFs too reported positive flows and collectively reported positive flows to the tune of Rs 10,759 crore in October.

Monthly SIP contribution reached an all-time high at Rs 10,518 crore during October from Rs 10,351 crore in September.



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