New fund offers (NFOs) seem to be moving in a low gear as fund houses have launched only 340 new schemes in April-September of 2015 following Sebi's direction to rationalise and consolidate offerings with similar goals.
In comparison, mutual funds had come out with 1,059 NFOs for the whole of 2014-15. The numbers stood at 1,023 and 1,168 in 2013-14 and 2012-13, respectively.
"Over the past few years, there has been a declining trend in the issuance of NFOs. This trend has been partly due to the regulator's direction to rationalise and consolidate mutual fund schemes with similar objectives," a report titled 'Indian Mutual Fund Industry- The Road Ahead' from Assocham today said.
