Equity NFOs at 9-year high in first half

Fund houses launch 28 schemes to garner Rs 7,500 cr, amid buoyancy in the secondary market

Domestic fund houses have raised the highest sum in nine years through equity New Fund Offers (NFOs) in the first half of calendar 2017. 

A total of 28 NFOs garnered Rs 7,469 crore in these six months. the highest since 2008, when 30 new schemes had got Rs 21,421 crore. The first half of 2016 saw only 12 equity NFOs, cumulatively raising Rs 811 crore.

The latest surge has come with an uptrend in the stock markets, which has helped benchmark indices and also small-cap and mid-cap indices climb to record levels.

Prior to the 2008 market meltdown caused by