MFs push passive assets, but flurry of schemes don't impress investors

SBI MF's two schemes contribute more than half of overall passive asset base; 55 schemes have less than Rs 100 crore in assets.

With assets of passive products, which include exchange-traded funds (ETFs) and index funds, trebling over the past three years, albeit on a low base, the mutual fund industry has been witnessing a flurry of such offerings -- 18 launches in the past year and another eight lined up this month. But, most such schemes have struggled to garner meaningful assets, with only 22 of 116 passive schemes reporting AUM of over Rs 1,000 crore and as many as 55 having assets less than Rs 100 crore.

The new offerings in the queue include an IT exchange-traded fund (ETF) from Axis Mutual