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The launch of new schemes by mutual funds (MFs) has decelerated due to changes in debt fund taxation.
During the first half (H1) of this financial year (April-September 2023), fund houses introduced a total of 73 new fund offerings (NFOs), compared to 183 in the second half (H2) of 2022-23, or FY23 (October-March), according to data from the Association of Mutual Funds in India.
However, a higher proportion of equity and hybrid fund launches has driven up average collections.
US financial services major Capital Group has been allocated 8.77% of the anchor investor portion, followed by crossover investor Fidelity, Norges Bank and Abu Dhabi Investment Authority (ADIA).