INSUBCONTINENT EXCLUSIVE:
Undeterred by the sharp correction in the secondary markets, mutual fund houses have lined up as many as seven new fund offers (NFOs) across
equity, thematic equity, hybrid and focused categories for subscription in October.
After the Sebi ruling on new categorisation and
rationalisation of mutual fund schemes, fund houses continue to fill gaps in their product basket based on market environment.
The SP BSE
Small Cap Index lost 25% since the start of the calendar year, but fund managers believe it is the right time to build portfolios of small
up small cap funds slated to open later this month
The sharp fall in Indian markets also highlights the need for investors to diversify geographically.
Axis Growth Opportunities Fund is
differentiating itself from others by investing one-third of its portfolio in overseas stocks.
ICICI Manufacture in India, a thematic fund,
will benefit from sharp rupee depreciation which it believes will benefit Indian corporates making manufacturing cheaper here.
Mahindra
Rural Bharat and Consumption Yojana is betting on fast growing consumption in India.
While NFOs help fund houses complete their product
neither is the style of fund management known
After the NFO, mutual funds get up to three months to build their portfolio
Bhansali said that once the portfolio is known, investors can consider them especially from fund houses that have a good track record of
recommend NFOs to investors
