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Fundraising by new offers in the equity segment of the mutual fund (MF) industry hit a 10-year high of Rs 223.33 billion in 2017. The average fund raised per new fund offer (NFO), at nearly Rs 3.8 billion, was also the highest since 2008. Equity NFOs’ contribution to overall equity MF sales is on the rise. Interestingly, of the total inflows in the equity segment during 2017, NFOs contributed 14.7 per cent — a significant jump from 4.6 per cent seen in 2016. This essentially means that flows through NFOs are gaining momentum and there is an available market for the success of such products — which were almost on the brink of extinction in 2011-12. Last year saw a strong comeback by equity NFOs. Though in absolute terms, their numbers were lesser at 59 compared with what was seen in 2014 at 75, the quantum of money was high, which led to a substantial funds flow through this route.