Bull run effect? Over 180 NFOs raised a whopping ₹66,000 crore in fiscal 2024
impressive return of 30 percent to the benchmark index of Nifty50. No wonder then the stocks and mutual funds drew investors galore. It will, therefore, not come as a surprise that a total of 185 new fund offers, or NFOs, were launched in fiscal 2024, raising a whopping ₹66,364 crore, shows the AMFI data.
These include both open-ended and close-ended schemes. It is interesting to note that a 34 percent of the total funds were raised in the past three months alone between Jan to March. ALSO READ: NFO Alert: Tata Mutual Fund launches the Tata Nifty Financial Services Index Fund; all you need to know The maximum number of NFOs were launched in February when 22 schemes raised ₹11,720 crore followed by Dec when 21 schemes raised ₹9,872 crore.
Even March 2024 witnessed launched of new 21 schemes which collectively raised ₹4,146 crore. (Source: AMFI) Among all the categories, index and hybrid mutual funds were quite popular among fund houses. These new launches included 35 index funds and 17 hybrid funds, the data shows.
Meanwhile, total inflow into all the mutual fund schemes via systematic investment plans (SIPs) stood at ₹1.99 lakh crore, 28 per cent higher than ₹1.56 lakh crore recorded in the preceding financial year. SIP contribution stood at an all-time high of ₹19,270.96 crore in March 2024 as against ₹19,186.58 crore in February 2024. In fact, SIP contribution into mutual funds increased every month during the entire year, except in the months of April and June.
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