Mutual funds approach Sebi with 35 new proposals in 2016

To tap the growing demand from retail investors, mutual fund houses have filed draft papers with markets regulatorSebi to launch as many as 35 New Fund Offers (NFO) in the first four months of the year.Retirement, fixed maturity plan (FMP), equity and debt are some of the themes for which mutual fund houses have filed the applications.  Financial Astrology

Sundaram Mutual Fund filed papers for a scheme (Sundaram World Brand Fund) that will invest in equity and equity related instruments listed on overseas stock exchanges across the world, while Reliance MF approached Sebi for launching. Personal Numerology

Interestingly, many mutual fund companies submitted papers with Sebi for launching plans with Hindi names so that investors in rural areas understand the objectives of the schemes in a better manner. The move is seen as moving away from the old tradition of English names for investment schemes.Bal Vikas Yojana', a scheme aimed at saving for children's future, Kar Bachat Yojana, a tax saving fund, 'Bachat Yojana' and 'Nivesh Lakshya' both fixed income schemes, are some of the launch schemes filed with Sebi by Mahindra MF and Reliance MF.  Indian stock market astrology prediction

"Our idea is to explain the investment opportunities to customers in our priority markets in their own language starting with the product names," Mahindra AMC MD and Chief Executive Ashutosh Bishnoi said.Since the beginning of the year, draft documents for 35 NFOs have been submitted with the Securities and Exchange Board of India (Sebi). Of these, 16 draft offers have been filed in last month alone.    According to market participants, MF houses are rushing towards Sebi to launch new schemes on account of growing demand from retail investors for such products as well as robust response received from investors in the recent fund launches.  Sensex Astrology