Fixed maturity plans (FMPs) from at least five fund houses — Aditya Birla Sunlife, ICICI Prudential, Kotak, Reliance and Sundaram Mutual Fund — with a tenure of 1,150-1,240 days are open for subscription or scheduled to open in the coming week, indicating that FMPs are back in the reckoning.
Wealth managers believe that rise in bond yields over the last one month leading to better post tax returns, and profit booking in equities are driving investors to FMPs. Many more of these FMPs are likely to hit the markets in the coming days, as investor appetite increases.
