MFs mop-up Rs 66,364 cr via NFOs in FY24
AMCs floated 185 NFOs last year, a 6.5% increase from 253 NFOs in 2022-23
New Delhi: Asset management companies (AMCs) floated 185 new fund offerings mobilising Rs66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year, amidst growing interest of retail investors and significant uptrend in broader markets. This was higher than Rs62,342 crore garnered by AMCs through 253 New Fund Offerings (NFOs) in 2022-23.
“The financialisation of savings in India is currently underway, signifying a growing recognition among investors that investing in financial assets is integral to building wealth. With income and expenditure levels rising constantly, there is a heightened need to channel monthly savings into avenues offering higher returns. The substantial inflow of investments into equities underscores a notable shift in investor attitudes and risk appetites,” FYERS Research said in its report.
As India’s growth narrative gains momentum and investment opportunities expand, many unlisted companies seek capital market support.
