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Record NFOs Launched in FY2024: Here are the Key Players and their Collections
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4 min read | Updated on May 21, 2024, 20:34 IST
SUMMARY
In the Financial Year 2024, Indian mutual fund houses have launched a total of 176 new fund offers (NFOs), amassing an amount of ₹63,538 crore. The highest collection in terms of NFOs was made by SBI Mutual Fund, Bajaj Finserv Mutual Fund, and Kotak Mahindra Mutual Fund; with SBI leading at ₹7,719 crore.
Asset management companies garnered nearly ₹63,538 crore via NFO
New Fund Offers, launched by an asset management company (AMC), refer to introducing a new mutual fund scheme, which presents an opportunity for investors to subscribe to the units of a specific fund enabling them to acquire it from the start. At times, these NFOs are based on a new investment strategy, a particular theme, or a different asset class.
When a new scheme is being launched, investors can purchase the units of the fund at a preset offer price such as ₹10 per unit. Sometimes, AMCs do promotional campaigns for the NFO to create an interest among investors.
Nearly ₹63,538 crore was collected last financial year by way of 176 new fund offers (NFOs).
Here are the top five fund houses that collected the most money.
| Fund house (Mutual Fund) | No. of funds | NFO collection (crore) |
|---|---|---|
| SBI Mutual Fund | 4 | 7,719 |
| Bajaj Finserv Mutual Fund | 10 | 5,990 |
| Kotak Mahindra Mutual Fund | 11 | 4,885 |
| Axis Mutual Fund | 5 | 3,721 |
| Baroda BNP Paribas Mutual Fund | 5 | 3,696 |
The fund house has launched several NFOs in FY24 collecting cash worth ₹5,990, including the Bajaj Finserv Large and Mid-Cap Fund, Bajaj Finserv Nifty Bank ETF, Bajaj Finserv Nifty 50 ETF, Bajaj Finserv Balanced Advantage, Bajaj Finserv Banking and PSU Fund, Bajaj Finserv Arbitrage Fund, Bajaj Finserv Flexi Cap Fund, Bajaj Finserv Money Market Fund, Bajaj Finserv Liquid Fund, and Bajaj Finserv Overnight Fund.
Baroda BNP Paribas Mutual Fund launched several new fund offers (NFOs) in FY24, collectively amassing ₹3,696 crore. The schemes introduced include the Baroda BNP Paribas Innovation Fund, Baroda BNP Paribas NIFTY 50 Index Fund, Baroda BNP Paribas Gold ETF, Baroda BNP Paribas Small Cap Fund, and Baroda BNP Paribas Value Fund.
176 NFOs were launched in FY24 amassing an amount of ₹63,538 crore In the fiscal year 2024, there was a strong increase in NFOs from Indian mutual funds, with significant contributions from major players, indicative of investor trust and various market approaches.
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