AMCs To Launch New Schemes of Mutual Fund In July

Asset Management Companies (AMCs) are preparing to launch new schemes of mutual funds next month. The SEBI-imposed three-month ban on the offering of new funds will come to an end. Up till the new system is put in place, the market regulator has put an embargo on the introduction of new fund offers. The new system must be in place by July 1 according to a deadline set by SEBI. Mutual fund businesses have begun preparing to introduce new fund plans as the prohibition period is coming to an end.

In the financial year 2021–2022, AMC launched 176 new funds

At least six AMCs have this month filed paperwork to SEBI for clearance to start new schemes. A dozen companies simultaneously submitted paperwork to SEBI for 15 schemes between April and May. AMC collected Rs 1.08 lakh crore through 176 new fund offers during the fiscal year 2021–2022. The year 2020–2021 saw the introduction of 84 new fund offerings prior to this. Only four fund offers have been made so far in the current fiscal year 2022–2023, raising a total of only Rs 3,307 crore.

Let us inform you that Rs 32,722 crore was withdrawn from debt mutual funds with fixed income in May. In light of the RBI’s approach to managing inflation brought on by external sources, the outflows have risen during the past month. A total of Rs 54,656 crore was invested in these schemes in April, according to figures from the Association of Mutual Funds in India (AMFI). The portfolio numbers have decreased in May compared to April, according to AMFI. According to the data, there were 72.87 lakh folios in May as opposed to 73.43 lakh in April.