Fo Collection News Today

Since April 1, investors and distributors have been bogged down by new KYC rules that limit first-time investments in fund houses unless the KYC status is ‘validated.’ Among the casualties of this are some of the schemes launched in April by newer fund houses, who have had to reject applications because of incomplete KYC.

The highest number of schemes were launched in the sectoral category — 13 followed by 12 other ETFs. In terms of fund collection, the sectoral category amassed Rs 5,725 crore, followed by multi-asset allocation fund (Rs 4,791 crore), multi-cap fund (Rs 3,277 crore) and liquid funds (Rs 3,083 crore).