To tap the growing demand from retail investors, mutual fund houses have filed draft papers with markets regulator Sebi to launch as many as 30 New Fund Offers. Retirement, fixed maturity plan (FMP) and equity are some of the themes for which mutual fund houses have filed the applications. Interestingly, many mutual fund companies have approached Sebi for launching plans with Hindi names so that investors in rural areas understand the objectives of the schemes in a better manner. The move is seen as moving away from the old tradition of English names for investment schemes.
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The S&P BSE Sensex was trading at 25,878, up 108 points, while the broader Nifty50 was quoting 7,965, up 36 points.
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