Mutual funds’ collects Rs 63854 crore through NFOs in 2023
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 the data compiled by ChanakyaMFguidance.com
“The trend towards the financialisation of assets in India is unmistakable. Aligned with changing consumption behaviours and a need for a higher standard of living, investors recognise the importance of long-term investing. The COVID-19 pandemic underscored the necessity for financial planning and the creation of liquid assets to address emergencies and pave the way for wealth-building,”
It further said that “despite indices exhibiting strength, propelled by robust economic activity, steady GST collections, and confidence in government reforms and policies, anticipating a similar outperformance in 2024 may not be prudent. Valuations across various market capitalisations look elevated, advocating a cautious approach to direct equities in the short term”.
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