Mutual funds apply for new funds to take advantage of market recovery

Mutual funds (MFs) have applied for a clutch of new funds to take advantage of the beaten-down valuations and expand their product basket, with markets showing signs of recovery. Mahindra MF has filed for a focused equity fund, to build a portfolio oriented towards high-quality stocks. “We expect high-quality stocks to lead the recovery initially. Further, it makes sense to build such a portfolio at this juncture with quality stocks available at attractive levels,” said Ashutosh Bishnoi, managing director and chief executive officer, Mahindra Manulife MF.

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