MFs file papers with Sebi for 10 new offerings in Jan

With mutual funds gaining traction among retail investors, asset management companies have filed draft offer documents with market regulator Sebi for as many as 10 new schemes this month.

Equity, debt and fixed maturity plans (FMPs) are some of the themes for which the MF houses have filed the applications.

ICICI Prudential MF, Reliance MF, DSP BlackRock MF, SBI MF, HDFC MF and IDFC MF have filed the offer documents for new fund offers (NFOs) with the Securities and Exchange Board of India (Sebi).

The schemes will be opened for subscription soon after the necessary clearance.

According to market participants, fund houses are in a hurry to launch new schemes given the heightened interest among retail investors, and the recent fund launches that have evoked a good response.

"In 2017, we will see more focus on retail investors, who are already showing a lot of commitment and maturity," Quantum Mutual Fund Chief Executive Jimmy Patel said.

Last year, close to 106 draft papers were filed with the capital market watchdog.