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).
Apart from this, the fund house has filed documents for Navi Nifty India Manufacturing Index Fund and two international funds.
As per the reports, Franklin Templeton had threatened to exit India if it was not given a fair hearing.
The timings were revised during the lockdown due to the coronavirus pandemic.
The petition in the High Court of Gujarat was filed by investors alleging that winding up of the debt schemes by the fund house was illegal.
Last month, the fund house had closed six of its debt funds, citing redemption pressures and lack of liquidity in the bond markets.
