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NEW FUND OFFERS

A new fund offer (NFO) is a first-time subscription offer for a new scheme launched by asset management companies (AMCs). The investors opting to invest in these schemes at the offer price (in most cases, the offer price is fixed at Rs10) can only do so in a stipulated period. After the NFO period, investors can only take exposure to these funds at the prevailing NAV. A new fund is an offer in the market by the AMCs to fill in the theme the AMC doesn't have in its portfolio. As per SEBI, an AMC cannot overlap with any theme in their bouquet, thus new schemes are launched by the AMC to introduce a concept that is not part of their existing portfolio. The offer remains open for 15 days and reopens after a week for subscription at the applicable NAV.

Types of NFO:

A New Fund Offer can be of two types-

  • Open-ended funds: This fund is officially launched after the NFO ends. Investors can enter and exit the fund at any time after the launch. 

  • Close-ended funds: A close-ended fund does not allow investors' entry and/or exit after the NFO period, until its maturity. This period is typically 3-4 years from the launch date. However, some close-ended funds get converted into open-ended ones for investors to enter and exit at the prevailing NAVs.

Mutual Fund NFOs Update

Scheme Name Issue Opens On Issue Closes On
Baroda BNP Paribas Multi Asset Fund November 28, 2022 December 12, 2022
ICICI Prudential Fixed Maturity Plan - Series 88 - 1233 Days Plan I
December 1, 2022 December 14, 2022
ICICI Prudential Fixed Maturity Plan - Series 88 - 91 Days Plan November 29, 2022 December 12, 2022
ICICI Prudential Fixed Maturity Plan - Series 88 - 1226 Days Plan
November 28, 2022 December 7, 2022
ICICI Prudential Fixed Maturity Plan-Series 88-125 Days Plan H November 30, 2022 December 13, 2022
ICICI Prudential Nifty Pharma Index Fund November 25, 2022 December 9, 2022
IIFL ElSS Nifty 50 Tax Saver Index Fund December 1, 2022 December 21, 2022
Kotak FMP Series 300 -1223 Days December 1, 2022 December 7, 2022
Mahindra Manulife Small Cap Fund November 21, 2022 December 5, 2022
Nippon India Fixed Horizon Fund - XlIV - Series 4 November 25, 2022 December 5, 2022
Nippon India Fixed Horizon Fund - XlIV - Series 5 November 25, 2022 December 9, 2022
Nippon India Nifty G-Sec- Jun 2036 Maturity Index Fund November 29, 2022 December 8, 2022
SBI Fixed Maturity Plan (FMP) - Series 73 (1226 Days) November 28, 2022 December 5, 2022
Union Multicap Fund-Regular Plan November 28, 2022 December 12, 2022
UTI Fixed Term Income Fund-Series XXXV-II (1223 Days) November 30, 2022 December 8, 2022

Please Note: The scheme of open-ended NFO reopens after a week from the closure date for investment at the applicable NAV.

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