MFs file papers with Sebi for 12 new offerings so far in 2017

With mutual funds gaining traction among retail investors, asset management companies have filed draft offer documents with market regulator Sebi for as many as 12 new schemes since the beginning of this year.
Equity, debt and fixed maturity plans (FMPs) are some of the themes for which the MF houses have filed the applications.
Fund houses from Sundaram, Edelweiss, ICICI Prudential, Reliance, DSP BlackRock, SBI, HDFC and IDFC have filed the offer documents for new fund offers (NFOs) with the Securities and Exchange Board of India (Sebi).
The schemes will be opened for subscription soon after the necessary clearance.
According to market participants, fund houses are in a rush to launch new schemes, given heightened interest among retail investors and good response the recent fund launches have evoked.

"In 2017, we will see more focus on retail investors who are already showing a lot of commitment and maturity," Quantum Mutual Fund Chief Executive Jimmy Patel said.

He further said the government's announcement of a paperless online mechanism for registration as mutual funds will also be a boon to the sector.
The proposed system is expected to make it easier for the existing and new market intermediaries to complete their registration and other regulatory filings with Sebi much faster and in a cost-effective way.
Last year, close to 106 draft papers were filed with the capital market watchdog.