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The number of proposals for new fund offers (NFOs) filed by mutual fund houses with SEBI has been dwindling since past few months largely due to the nationwide lockdown and its impact on overall investor sentiment.
While fund houses approached SEBI for 11 NFOs in January, the number fell to six in February and further to just one in March and nil in April. In May so far, the figure stands at two, according to SEBI.
Since March, draft documents for only three new schemes have been filed. This comprises one by Nippon India MF in March and two by SBI MF in May and, interestingly, all the three are passive funds.
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