A number of fund houses plan to launch equity schemes. On Monday alone, three fund houses — ICICI Prudential, Sundaram and Motilal Oswal — filed draft papers for new fund offers (NFOs) with SEBI.

A few days back, Aditya Birla Sun Life MF had filed NFO papers for a PSU Equity Fund.

ICICI Prudential has filed for an open-ended ETF, tracking the Nifty Bank Index.

Sundaram MF is planning to launch Sundaram Equity Fund, an open-ended equity scheme. The investment objective of the scheme is to generate capital appreciation by investing in a diversified portfolio of equity and equity-related instruments across in all m-cap stocks.

The scheme may use derivatives for trading, hedging and portfolio balancing. Exposure to derivatives will be limited to 50 per cent of the net asset value of the scheme at the time of transaction. It will invest between 65-100 per cent in equity and equity-related instruments, while 0-35 per cent may be invested in fixed income and money market instruments. The scheme intends to identify and invest in stocks that are diversified across the market-cap spectrum, benchmarked to the BSE-500 Index.

Fund managers S Krishnakumar and Bharath S will handle the equity portion, Dwijendra Srivastava will take care of fixed Income and Rohit Seksaria will focus on investments in overseas securities.

Motilal Oswal AMC has filed a draft red herring prospectus with SEBI for four schemes — Motilal Oswal Nifty SmallCap 250 Fund, Motilal Oswal Nifty Midcap 150 Fund, Motilal Oswal Nifty 500 Fund and Motilal Oswal Nifty Bank Fund — all open-ended funds tracking their respective indices.

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