Mutual Fund NFO:In recent times, asset management companies running mutual funds have raised a lot of money in the market through AFO (New Fund Offering). According to a data, in the financial year 2023-24, asset management companies have raised Rs 66,364 crore from the market by launching 185 new funds, which is 6.5 percent more than in the first financial year 2022-23.
There has been a strong surge in the participation of retail investors in mutual funds. This is the result of this. This increase has come due to the increasing attraction towards mutual funds among retail investors and the strong rise in the stock market. In the financial year 2022-23, asset management companies had launched 253 NFOs and Rs 62,342 crore were raised through these NFOs. Whereas in the financial year 2023-24, less than 185 new funds were launched and more than Rs 66,364 crore were raised compared to the last financial year.
According to the report, maximum NFOs were launched during the fourth quarter of the financial year, January-March. A total of 63 NFOs came during this period through which a total of Rs 22,683 crore was raised. Earlier also in the period October-December, 2023, Rs 16,093 crore was raised through 49 NFOs.
There is strong investment in mutual funds not only through NFO but also through systematic investment plan. For the second consecutive month in March 2024, an investment of Rs 19,271 crore has come through the Systematic Investment Plan, which is a record high level. Even in February 2024, SIP investment was Rs 19,187 crore.
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