13 mutual funds collect Rs 471 crore in May, Motilal Oswal Contra Fund contributes Rs 267 crore

Around 13 new mutual funds launched in May together collected Rs 471 crore. Fund houses launch new funds to complete their bouquet of offerings. Here is a detailed breakup, according to the latest data release by Association of Mutual Funds in India (AMFI).

In May, only open ended funds were launched. No close-ended funds were launched.

Motilal Oswal Contra Fund, a contra fund by Motilal Oswal Mutual Fund, collected Rs 267 crore in May.

Around six index funds were launched in May which together collected Rs 165 crore - Groww Nifty Private Bank Index Fund (Rs 6 crore), Invesco India BSE Sensex Index Fund (Rs 17 crore), Invesco India Nifty Bank Index Fund (Rs 30 crore), SBI CRISIL-IBX 10:90 Gilt + SDL Index - Dec 2029 Index Fund (Rs 27 crore), SBI Nifty G-sec Jul 2031 Index Fund (Rs 16 crore) and Axis Nifty Capital Markets Index Fund (Rs 69 crore).

Six other ETFs launched in May together collected Rs 39 crore - SBI Nifty200 Value 30 ETF (Rs 9 crore), DSP Nifty FMCG ETF (Rs 5 crore), SBI Nifty Smallcap 250 ETF (Rs 6 crore), Edelweiss Nifty Next 50 ETF (Rs 7 crore), 360 ONE MSCI India ETF (Rs 6 crore) and Groww Nifty Private Bank ETF (Rs 6 crore).

The NFO market remained subdued. Of the 13 funds launched in May, 12 of them were from the passive space (Index as well as ETF). Together, they garnered net assets worth 471 cores highlighting investors cautious stance by not going overboard, said Himanshu Srivastava, Principal, Manager Research, Morningstar Investment Research India.