Mutual Funds See ₹3,985 Crore Mobilization in March, HDFC MF Leads with Index Fund
Mutual fund NFOs: 24 funds mobilise Rs 3,985 crore in March, Index fund by HDFC MF contribute maximum
The Economic Times
Image: The Economic Times
In March, 24 new mutual funds raised a total of ₹3,985 crore (approximately $480 million USD), with HDFC Mutual Fund's index fund contributing ₹755 crore (about $90 million USD) as the largest single contributor. The majority of the funds were open-ended, reflecting strong investor interest in various sectors.
- 0124 new mutual funds launched in March, raising ₹3,985 crore.
- 02HDFC Mutual Fund's index fund was the top contributor with ₹755 crore.
- 03Sectoral and thematic funds attracted ₹1,347 crore collectively.
- 04Open-ended funds raised ₹3,743 crore, while closed-ended funds accounted for ₹242 crore.
- 05Small cap funds raised ₹408 crore, with Abakkus Small Cap Fund leading.
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March saw the launch of 24 new mutual funds that collectively mobilised ₹3,985 crore (approximately $480 million USD). Among these, 23 were open-ended funds, raising ₹3,743 crore, while a single closed-ended fund contributed ₹242 crore. The HDFC Mutual Fund's index fund was the standout performer, collecting ₹755 crore. Additionally, four sectoral and thematic funds raised a total of ₹1,347 crore, with the Baroda BNP Paribas ESG Best-in-Class Strategy Fund leading this category at ₹640 crore. Small cap funds also made a mark, gathering ₹408 crore, driven primarily by the Abakkus Small Cap Fund, which raised ₹369 crore. Other funds launched included various ETFs and arbitrage funds, reflecting a diverse investment landscape for March.
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The strong mobilization of funds indicates growing investor confidence in the mutual fund market, which could lead to more investment opportunities and potentially higher returns for investors.
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