New Delhi: Existing and new market players as well as Exchange Traded Funds are likely to hit the market in the coming months with a flurry of new Mutual Funds schemes.
An action packed first quarter of 2007 is on cards with at least 20 new schemes waiting on the sidelines to be launched. Country’s largest fund manager UTI Mutual Fund alone planning to launch about six schemes before the end of March.
Out of the 20 schemes, 18 have already been approved by SEBI and many more are currently in the process of getting regulator clearances.
Besides, new entrants like J P Morgan and AIG are slated to start their mutual fund operations by March-April.
Many other top global asset management companies like Aegon, Bharti-AXA and UBS have also announced plans for India.
Even Vanguard, American Capital, T Rowe Price, Sumitomo Mitsui Asset Management, Daiwa Asset Management and Pioneer are eyeing entry into India.
In December, Japan's leading asset manager Nikko Asset Management formed a joint venture with India's Ambit RSM Finance to float a mutual fund.
While the investors are set to get a wider range to choose their mutual fund schemes, the returns on these investments could, however, remain modest depending on the broader market trends, the experts believe.
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