Five new fund offers (NFOs) are currently open for subscription in the market. These are 360 ONE Flexicap Fund, Edelweiss Multi Asset Allocation Fund, ITI Focused Equity Fund, Mirae Asset Fixed Maturity Plan - Series V -Plan 4, and Quant BFSI Fund.

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An NFO is the first-time subscription offer for a new scheme launched by asset management companies (AMCs). They are intended to raise capital for the fund and attract investors.

Experts say that NFO could make sense only when the fund offers something unique that is not available in the market. Additionally, investors can look at the objective and the motive behind the new fund offer. Also, returns of other funds in that category should be checked.

Here's a look at the NFOs that are currently open:

360 ONE Flexicap Fund

360 ONE Mutual Fund (formerly known as IIFL Mutual Fund) announced the launch of the 360 ONE Flexicap Fund, an open-ended dynamic equity scheme investing across large-cap, mid-cap, and small-cap stocks. This new fund offer (NFO) is available till June 26, 2023. The scheme will re-open for continuous sale and repurchase from July 06, 2023.

The investment objective of the scheme is to generate long-term capital appreciation by primarily investing in equity and equity-related securities across the entire market capitalization range and investing the remaining portion in debt and money market instruments, the fund house said.

Edelweiss Multi Asset Allocation Fund

This NFO will be available till June 19, 2023. It is an open-ended scheme investing in equity, debt, gold and silver.

“The fund provides investors an opportunity to generate fixed income-like returns in a tax-efficient way,” the fund house said. According to the company, the fund's primary focus will be to generate low volatile fixed-income equivalent returns by investing in fixed- income, equity arbitrage, and gold and silver arbitrage.

ITI Focused Equity Fund

This is an open ended equity scheme investing in maximum 30 stocks across market capitalisation.

The investment objective of the scheme is to seek to generate long term capital appreciation by investing in a concentrated portfolio of equity and equity related instruments of up to 30 companies across market capitalisation. However, there can be no assurance that the investment objective of the scheme would be achieved, the fund house said.

Mirae Asset Fixed Maturity Plan - Series V -Plan 4

This NFO was launched on June 8, 2023 and will be available till June 13, 2023. The investment objective of the scheme is to provide income to the investors through investments in a portfolio comprising of debt and money market instruments maturing on or before the maturity of the scheme. It is a close ended scheme, where no entry load is applicable.

The units will be listed on the stock exchange. One can invest Rs5,000 during NFO period and then multiples of Re 1.

Quant BFSI Fund

This is an open-ended equity scheme investing in banking and financial services-related sectors and will be available till June 14. Individuals can invest under the scheme with a minimum investment of Rs 5,000 per plan/option and in multiples of Re 1. There is no upper limit for investment.

The primary investment objective of the scheme is to generate consistent returns by investing in equity and equity related instruments of banking and financial services. However, there is no assurance that the investment objective of the scheme will be achieved, the fund house said.

(Edited by : C H Unnikrishnan)