Mutual Funds approach Sebi with 16 new fund offers

To tap the growing demand from retail investors, mutual fund houses have filed draft papers with market regulator Sebi to launch 16 New Fund Offers.

Retirement, fixed maturity plan (FMP) and equity are some of the themes that for which mutual fund houses have filed applications.

DSP Black Rock MF, Tata MF, ICICI Prudential MF, DHFL Pramerica MF and Indiabulls MF have filed for fixed maturity plan.

In addition, Birla SunLife MF has approached for banking ETF and ICICI Prudential has submitted the draft document for retirement fund.

Since the beginning of the year, draft documents for 16 NFOs have been submitted with the Securities and Exchange Board of India (Sebi.)

Of these, 5 draft offers have been filed so far this month, while 11 papers were submitted in January.

According to market participants, MF houses are rushing towards Sebi to launch new schemes on account of growing demand from retail investors for such products.

There has been growing demand from retail investors in the recent fund launches for mutual fund products as the investors base touched a record high of Rs 4.64 crore in January.

A total of 191 draft papers were filed last year with the capital markets watchdog.