News From Press Mutual funds' collects Rs 63,854 crore through NFOs in 2023

Mutual funds' collects Rs 63,854 crore through NFOs in 2023

Source: ET Jan 30, 2024

Asset management companies launched 212 new fund offerings mobilising Rs 63,854 crore in 2023, marginally higher from previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by Morningstar India.

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