Investors prefer existing MF schemes than NFOs (Business Standard 30th June 2008)
Investors may prefer to invest in the existing schemes of mutual fund houses instead of putting money into new fund offerings, after the Indian markets went into a tailspin following weak global cues and a situation of tight liquidity in India, feel most distributors.
Eleven new fund offerings are currently open including AIG Infrastructure and Economic Reform Fund, HDFC Infrastructure Fund, Reliance Natural Resources Fund, ICICI Prudential Fusion, Lotus India Mid and Small Cap Fund and two from JM Mutual Fund’s stable, JM Core 11 fund and JM Tax Gain fund.
Since several NFOs have opened as recently as last week, exact collection figures could not be obtained. Existing schemes have seen inflows rather than redemptions.
“We have got fresh inflows in the last one week or so at least to the extent of our fortnightly average,” said a senior official from DSPML Mutual Fund.
The Bombay Stock Exchange (BSE) benchmark index Sensex has fallen by 652.04 points or 3.43 per cent in the last one week. The figures do not reveal the entire picture because the market saw stomach churning volatility, moving by as much as 1500 points in a single trading session. More
Investors may prefer to invest in the existing schemes of mutual fund houses instead of putting money into new fund offerings, after the Indian markets went into a tailspin following weak global cues and a situation of tight liquidity in India, feel most distributors.
Eleven new fund offerings are currently open including AIG Infrastructure and Economic Reform Fund, HDFC Infrastructure Fund, Reliance Natural Resources Fund, ICICI Prudential Fusion, Lotus India Mid and Small Cap Fund and two from JM Mutual Fund’s stable, JM Core 11 fund and JM Tax Gain fund.
Since several NFOs have opened as recently as last week, exact collection figures could not be obtained. Existing schemes have seen inflows rather than redemptions.
“We have got fresh inflows in the last one week or so at least to the extent of our fortnightly average,” said a senior official from DSPML Mutual Fund.
The Bombay Stock Exchange (BSE) benchmark index Sensex has fallen by 652.04 points or 3.43 per cent in the last one week. The figures do not reveal the entire picture because the market saw stomach churning volatility, moving by as much as 1500 points in a single trading session. More
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