Rush for NFOs amid buoyancy in markets to offset net redemptions

Over 12 offer documents filed in a single day last week

Equity mutual fund (MF) schemes, despite buoyancy in the markets, have seen sustained net redemption since July.

To stem outflows and boost asset mobilisation, the Rs 30-trillion asset management industry is making a beeline for new schemes.

On Friday, documents for over 12 new fund offer (NFO) were filed with the Securities and Exchange Board of India (Sebi), taking the year-to-date count to 30.

Experts say even as investor sentiment remains bullish, most existing schemes are seeing outflows every month. And hence, many players say NFOs could be a good way to draw retail attention.

“Launching new funds is a way to attract money