Fund houses launch mid-, small-cap NFOs as valuations turns attractive

Fund houses have lined up mid- and small-cap new fund offerings (NFOs) as valuations have turned attractive following a correction from this year's highs. 

Axis MF, Navi MF and Mirae Asset MF are among fund houses to roll out passive funds focused on mid- and small-cap themes.

Axis MF recently launched Axis Nifty Midcap 50 Index Fund and Axis Nifty Smallcap 50 Index Fund. While Navi MF came out with Navi Nifty Midcap 150 Index Fund and Mirae Asset opened Mirae Asset Nifty Midcap 150 exchange traded fund (ETF).

Market participants say that focus on passive is because they offer