Mutual funds raise Rs 14,370 crore via new fund offers in June
Mutual fund industry witnessed strong inflow via new fund offers (NFOs) in June as 11 NFOs of different fund houses collected Rs 14,370 crore last month.
Mutual fund industry witnessed strong inflow via new fund offers (NFOs) in June as 11 NFOs of different fund houses collected Rs 14,370 crore last month.
The development comes after a lackluster performance in 2022 with 2023 witnessing a substantial increase in overall inflow.
Indian stocks have been able to hold on to all-time highs when market breadth is healthy. Readings of over 15 per cent NSE 500 Index member stocks touching a new 52-week high is positive, said a report by DSP Mutual Fund.
The fund houses are instructed to pay out the proceeds in the event of a redemption or repurchase of units within three working days. Investors in schemes where at least 80% of the capital is invested in foreign securities must be paid within five working days of the date of redemption or repurchase.
Systematic investment plan (SIP) contribution crossed the Rs 13,000 crore mark in October, according to data released by the Association of Mutual Funds of India (AMFI).
This decision from Sebi comes a month after Franklin Templeton Mutual Fund closed six of its debt schemes in April citing redemption pressures and lack of liquidity in the bond markets.
According to the Chairman, PPFAS would come with its ELSS once the number of portfolios touch 100,000.
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