MFs line up 12 new offers with investor interest still strong
Asset managers have lined up several new fund offers (NFO) unfazed by the outcome of the general election results on June 4. As many as 12 new fund offers are open or will be launched in the next fortnight.
Motilal Oswal launched a multicap fund and JM Financial has started a small-cap fund to complete their product basket in the diversified fund space. Many fund houses are launching thematic funds that include the likes of financial services, manufacturing and special opportunities.
Mahindra Manulife and Baroda BNP Paribas are launching manufacturing funds.
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«We are seeing strong interest from investors. Most investors from a sentiment and intent standpoint seem to be looking beyond the upcoming events and focusing on the long-term opportunity,» says Anthony Heredia, MD, Mahindra Manulife Mutual Fund.
Heredia believes the manufacturing space has an integral role to play in the long-term India growth story and hence they have come with NFOs.
Distributors point out that most large fund houses have completed their diversified equity mutual fund basket where regulations specify that they can have only one scheme in a category.
Given the high growth expected in the mutual fund industry, fund houses are looking to expand their product offerings in both the active and passive categories.
With no restriction on the number of sectoral and thematic funds, they are now coming up with new schemes. Given that there is
