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New Delhi, Asset management companies launched 212 <keyword id="20372350" type="General" weightage="20" keywordseo="new-fund-offerings" source="keywords">new fund offerings</keyword> mobilising Rs 63,854 crore in 2023, marginally higher from previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by <keyword id="20372349" type="General" weightage="20" keywordseo="morningstar-india" source="keywords">Morningstar India</keyword>. "The trend towards the financialisation of assets in India is unmistakable. Aligned with changing consumption behaviours and a need for a higher standard of living, investors recognise the importance of long-term investing. The COVID-19 pandemic underscored the necessity for financial planning and the creation of liquid assets to address emergencies and pave the way for wealth-building," FYERS Research said in its report. It further said that "despite indices exhibiting strength, propelled by robust economic activity, steady <keyword id="19951327" type="General" weightage="20" keywordseo="gst" source="keywords">GST</keyword> collections, and confidence in government reforms and policies, anticipating a similar outperformance in 2024 may not be prudent. Valuations across various market capitalisations look elevated, advocating a cautious approach to direct equities in the short term". As per the FYERS report, the January-March period of 2023 saw the highest number of NFOs at 57. However, the peak fund mobilisation occurred in the July-September period, totalling Rs 22,049 crore. Additionally, 29 thematic or sectoral funds raised an aggregate of Rs 17,946 crore in 2023. With an increased risk appetite for equities and awareness of products and offerings, retail investors opted for higher-risk products like thematic and sectoral funds compared to other products. Usually, NFOs come during a surging market when investor sentiments are high and optimistic. The NFOs were floated to capitalise on the mood of investors and attract their investment as they were willing to invest at that time. Industry experts said that the stock market performance along with the positive investor sentiments led to higher fund mobilisation through NFOs in 2023. In the year 2023, Nifty 50 index delivered a return of 20 per cent, majorly supported by earnings growth. <keyword id="19994732" type="General" weightage="20" keywordseo="nifty-midcap" source="keywords">Nifty Midcap</keyword> and <keyword id="20118967" type="General" weightage="20" keywordseo="nifty-smallcap" source="keywords">Nifty Smallcap</keyword> indices recorded impressive returns of 47 per cent and 56 per cent, respectively. Domestic Institutional Investors (DIIs) infused a substantial Rs 1.7 lakh crore into the market and the infusion played a pivotal role in propelling Indian equities beyond the USD 4 trillion market capitalization milestone. Overall, the mutual fund industry saw a net inflow of Rs 2.74 lakh crore in 2023 as compared to an inflow of over Rs 71,000 crore in the preceding year. The huge inflow could be on the back of sustained investors' interest in equity funds, arbitrage funds, and index funds &amp; ETFs. Debt schemes experienced a net outflow of Rs 46,100 crore last year, while equity schemes saw substantial inflows of Rs 1.62 lakh crore, closely followed by hybrid category schemes at Rs 93,208 crore.

Mutual funds collects ₹63,854 cr via new fund offers in 2023

New Delhi, May 11 () The number of proposals for new fund offers (NFOs) filed by mutual fund houses with markets regulator Sebi has been dwindling since past few months largely due to the nationwide lockdown and its impact on overall investor sentiment. Fund houses approached Sebi for as many as 11 NFOs in January, the number fell to six in February and further dropped to just one in March and nil in April. In May so far, the figure stands at two, according to the markets regulator. Since March, draft documents for only three new schemes have been filed. This comprises one by Nippon India MF in March and two by SBI MF in May and interestingly, all the three are passive funds. "The slowdown in March/April is largely related to the lockdown and its impact on overall investor sentiment," said Kaustubh Belapurkar, Director – Manager Research, Morningstar India. Jimmy Patel, MD and CEO, Quantum Mutual Fund said the industry is grappling with fixed income funds facing redemption pressure last month and the prevailing market conditions are not so encouraging either, which resulted in slowdown in NFO filing. "In COVID-19 era, there seems to be uncertainty on the survival and continuity of a lot of industries and business models. At this point in time, it is not a liquidity crisis but a crisis of confidence," Ashika Wealth Advisors Co-Founder and CEO Amit Jain said. So far in 2020, draft documents for 20 NFOs have been submitted with the Securities and Exchange Board of India (Sebi). Of these, some of the schemes have already been launched after getting regulatory clearances. Of these 20 NFOs request filed with Sebi, a large chunk of these offerings are passive funds. Patel said passive funds have slowly gaining traction as such funds do not need minimum assets under management (AUM) and investor count, Patel said. Themes like exchange traded funds (ETFs) and environment social and governance (ESG) attracted of mutual fund companies. Besides, many mutual fund companies filed applications for index funds. Given the defined Sebi categories most fund companies are only looking to fill gaps in their active fund bouquets if any. "On the passive side there has been a fair bit of interest with a number of offerings around broader Index funds and ETFs as well as some thematic /sectoral ETFs. Another theme that is seeing interest is the ESG theme, which has been in the spotlight globally for a while now," Belapurkar said. "Fund companies are beefing up their product bouquets to be ready for the future where passive funds and ESG funds will play an increasingly important role in investor portfolios," he added. Jain said new fund offer shall increase once economic and financial stability is restored in the system. Nippon India MF, SBI MF, Aditya Birla Sunlife MF, DSP MF, BNP Paribas MF, UTI MF, Tata MF and HSBC MF are the fund houses that approached Sebi with the offer documents for NFOs. Nippon India Mutual Fund spokesperson said new schemes have been filed to complete our ETF portfolio suite. SP DRR

Lockdown, weak investor sentiment impact mutual funds' NFO

New Delhi, Dec 12 () The Bharat Bond ETF received an overwhelming response from institutional players on Thursday with the portion reserved for anchor investors garnering bids worth nearly Rs 3,000 crore, around 1.7 times of the size.
 Bharat Bond ETF, through which the government seeks to mop up Rs 15,000 crore, opened for subscription on Thursday for anchor investors and would open for retail investors from Friday.
 In a tweet, Department of Investment and Public Asset Management said that the new fund offer (NFO) of Bharat Bond ETF was launched on Thursday and the anchor book was subscribed by 1.7 times at Rs 2,980 crore.
 As much as 25 per cent of the initial issue size of Rs 7,000 crore was reserved for anchor investors.
 The offer would remain open for all investors during December 13-20 and investors can subscribe to the ETF with a minimum unit size of Rs 1,000.
 Edelweiss Asset Management Company is managing the issue of Bharat Bond ETF, the first corporate bond exchange-traded fund in the country.
 "Through the ETF, Edelweiss Mutual Fund proposes to raise an initial amount of Rs 3,000 crore with a green shoe option of Rs 2,000 crore in the 3-year maturity period (2023) and Rs 4,000 crore with a green shoe option of Rs 6,000 crore in the 10-year maturity bucket (2030)," Edelweiss AMC said.
 The ETF would invest only in AAA-rated bonds of public sector companies and would have target maturity structures.
 The ETF with a 3-year maturity would follow the Nifty Bharat Bond Index-April 2023 and the one with a 10-year maturity would follow the Nifty Bharat Bond Index-April 2030. SP HRS

Bharat Bond ETF: Anchor investors put in bids worth Rs 3,000 cr

New Delhi, Mar 9 () Market regulator Sebi has revised mutual fund regulations to permit non-bank Sebi-registered custodians to manage gold or gold-related instruments. Currently, only the banks that are registered as custodians with Securities and Exchange Board of India (Sebi) are permitted to manage gold exchange-traded funds (ETFs) and other gold-related products. "In case of a gold exchange-traded fund scheme, the assets of the scheme being gold or gold related instruments may be kept in the custody of a custodian registered with the board," Sebi said revising the mutual fund norms. After the revision of norms, non-banking custodians as well as banking custodians can manage gold ETFs and other gold-related products.For this, the regulator has amended Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. The amendments to the regulation were made after Sebi's board in February approved a proposal to allow bank and non-bank custodians to offer custodian services for gold or gold related instruments such as gold ETFs.The move is aimed at reducing concentration of custodial services for gold or related instruments, Sebi had said.Additionally, Sebi has also allowed sponsors or asset management companies (AMC) to invest in close-ended mutual fund schemes. The sponsor or asset management company has to invest either at least one per cent of the amount which would be raised in the new fund offer or Rs 50 lakh, whichever is less "provided that the investment by the sponsor or asset management company shall be made in such option of the scheme, as may be specified by the board," Sebi said.Presently, the investment by the sponsor or AMC is mandatory in all schemes, except closed-ended schemes. Sebi in its board meeting said, "in order to bring uniformity across schemes, the board has decided that sponsor or AMC shall invest in close ended schemes also." SRS ANSANS

Sebi allows non-bank custodians to manage gold, related instruments

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>
The members of Google's new European VC fund were gathered in one place for the first time Monday morning at TechCrunch's Disrupt Europe conference. The new fund has $100 million to spend each year, compared to the $300 million that the US arm has to play with. From left to right, here's who they are:
<h3>Eze Vidra</h3>
Vidra is best known as the former head of Google's London Campus, a workspace for early-stage tech startups. On stage at Disrupt, he explained that the Google Ventures fund is looking to "do something different in Europe," remarking that "there's a lot to learn from our colleagues in the US." 
Interestingly, Vidra explained the unorthodox way that Google Ventures is being contacted by companies. There's no contact form on its website, he says "because then there's an expectation that we will get back to you in a timely manner." According to Vidra, startup founders are getting in touch with the team by post, social media, or through introductions.
<h3>MG Siegler</h3>
Former TechCrunch writer MG Siegler joins Google's new European team after working for their US venture capital fund. He explained that "Google Ventures has been going for five years, people know we're doing a pretty good job over there." Siegler went on to say that the new European team will be working closely with their US counterparts: "Europe is the next logical step. This is Google Ventures as an entire team, we all just spent the past couple of weeks in the US getting to know the rest of the team."
<h3>Peter Read</h3>
Read is one of Europe's most prolific VCs, having invested in a large number of both early stage and established companies. On stage at Disrupt, he explained that he joined Google Ventures in order to gain a "much bigger check book" to play with. Additionally, he said, the new fund offers a "suite of services" around engineering, recruitment and design. 
<h3>Avid Larizadeh</h3>
Larizadeh is a former startup founder and employee, having worked for Skype and eBay before founding fashion startup Boticca. She explained that she wants to help tech startups through the downtimes of the startup cycles, helping startups shed employees and restructure, as well as the ups.
<h3>Tom Hulme</h3>
As well as a design director at IDEO London, the legendary design company, Hulme is now a partner at Google Ventures Europe. He explained that design teams are often the most important part of startups. Additionally, he went on to mention that the morning after the announcement came that he was joining Google Ventures, he woke up to 700 emails.

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Mutual funds collects ₹63,854 cr via new fund offers in 2023

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Lockdown, weak investor sentiment impact mutual funds' NFO

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Bharat Bond ETF: Anchor investors put in bids worth Rs 3,000 cr

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Sebi allows non-bank custodians to manage gold, related instruments

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Here's The First Team Photo Of The People Behind Google's New $100 Million London VC Fund

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