Since March 11, 2008 more than a dozen Fund Houses have filed their OD on the SEBI website waiting for the Muhoorta for a good launch. It included 6 Equity schemes, 3 Derivative Funds, some Interval Funds and Several FMPs. What was interesting to note was
1. Bharati Axa Investment Managers are planning to make thier entry by a big splash offering three products: one each in Equity, Treasury and the Liquid category.
2. Both Birla sun Life and HSBC have named their Debt Funds that use derivatives as "Equity Linked" to denote that the portfolio contain floating coupon bonds that has got the coupons linked to some equity index or equity scheme!!! Is n't it a surrogate attempt to sell on the market familiar terms like "ULIP" and "ELSS".
3. The FMPs that are now selling is getting dried up by 24th April 2008; The lining up from 7 fund houses may get opening after the 29th April 2008 credit policy by RBI
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