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Record NFOs Launched in FY2024: Here are the Key Players and their Collections

Upstox
By Upstox News Desk

4 min read | Updated on May 21, 2024, 20:34 IST

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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.

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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 fundsNFO collection (crore)
SBI Mutual Fund47,719
Bajaj Finserv Mutual Fund105,990
Kotak Mahindra Mutual Fund114,885
Axis Mutual Fund53,721
Baroda BNP Paribas Mutual Fund53,696
Source: Value Research
SBI Mutual Fund, sponsored by State Bank of India and managed by SBI Mutual Fund Trustee Company Private Limited, was set up on 29 June 1987 and incorporated on 07 February 1992. As of 31 March 2024, it manages assets worth ₹919,519.99 crore. In FY24, SBI Mutual Fund launched several NFOs, collectively raising ₹7,719 crore. These include the SBI Energy Opportunities Fund, SBI Nifty50 Equal Weight Index Fund, SBI NIFTY 1D RATE ETF, and SBI S&P BSE Sensex Index Fund.
Bajaj Finserv Mutual Fund was incorporated on 18 October 2021 by Bajaj Finserv Limited and is managed by Bajaj Finserv Mutual Fund Trustee Limited. As of 31 March 2024, it manages assets worth ₹9,674.62 crore.

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.

Kotak Mahindra Mutual Fund, sponsored by Kotak Mahindra Bank Limited and chaired by Uday Kotak, was incorporated on 5 August 1994 and launched its first scheme on 23 June 1998. As of 31 March 2024, the fund manages assets worth ₹381,034.18 crore. In the financial year 2024, Kotak Mahindra Mutual Fund launched several new schemes collecting cash through NFO ₹4,885, including the Kotak Nifty AAA Bond Jun 2025 HTM Index Fund, Kotak Long Duration Fund, Kotak Technology Fund, Kotak Healthcare Fund, Kotak Consumption Fund, Kotak Nifty G-Sec July 2033 Index Fund, Kotak Multi Asset Allocation Fund, Kotak S&P BSE Housing Index Fund, Kotak Nifty Financial Services Ex-Bank Index Fund, Kotak Quant Fund, and Kotak Nifty 200 Momentum 30 Index Fund.
Axis Mutual Fund, sponsored by Axis Bank Limited and managed by Axis Mutual Fund Trustee Limited, was incorporated on 13 January 2009 and launched its first fund on 4 September 2009. As of 31 March 2024, it manages assets worth ₹266,774.93 crore. In the fiscal year 2024, Axis Mutual Fund collected cash ₹3,721 by introducing several new fund offers (NFOs) which include the Axis CRISIL IBX SDL June 2034 Debt Index Fund, Axis S&P BSE Sensex Index Fund, Axis US Treasury Dynamic Bond ETF Fund of Fund, Axis India Manufacturing Fund, and Axis Nifty IT Index Fund.
Baroda BNP Paribas Mutual Fund was established on 24 November 1994 and incorporated on 5 November 1992. It is sponsored by Bank of Baroda and BNP Paribas Asset Management Asia Limited, with Baroda BNP Paribas Trustee India Pvt Ltd (formerly Baroda Trustee India Pvt Ltd) serving as the trustee. As of 31 March 2024, the fund manages assets worth ₹32,266.82 crore.

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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