An NFO, or New Fund Offer, is a mutual fund scheme's first public subscription window. The AMC announces an open date, sets a fixed entry price around ₹10 per unit, runs the subscription for a fixed period, then closes the window and the scheme starts buying assets at market prices.

Are NFOs good investments?

Most aren't, in the sense that an NFO has no track record, no published portfolio yet and the same expense ratio as a comparable existing scheme that's had 5 or 10 years to prove itself. There are exceptions when an NFO opens a genuinely new asset class or category. The FinSet take next to each NFO calls out which is which.

NFO versus existing fund. Which is better?

An existing fund with a 5-year track record gives a real history of risk-adjusted returns, fund manager behaviour through cycles and actual portfolio holdings. An NFO has none of that. The low-NAV framing some AMCs use is a number illusion since NAV growth depends on the underlying assets and not on the starting price.

How do I apply for an NFO?

Through any SEBI-registered platform that distributes the scheme. Direct plans go through the AMC's own website or app. Regular plans go through a distributor or broker. The minimum investment for most equity NFOs sits between ₹100 and ₹5,000.

What's the minimum NFO investment?

It varies by scheme. Most equity NFOs accept lumpsum from ₹100 to ₹5,000. Index funds and ETFs typically start at ₹500. The exact minimum sits in each scheme's row above.

Why so many NFOs in 2026?

AMCs have a finite number of category slots per SEBI's 2017 categorization rules. They fill empty slots with new schemes. Some launches are genuine category openings. Many are slot-filling exercises that recycle a strategy a sibling fund already runs. The FinSet take on each scheme calls out the difference.

NFOs in India

Updated 26 September 2026

Mutual fund houses launch new schemes most weeks. This page tracks every NFO that's currently open or closing soon in India.

Currently open

Scheme	AMC	Category	Opens	Closes
HDFC BSE REITS and Commercial Real Estate Index Fund	HDFC Mutual Fund	Index Funds	Sep 15	Sep 29
Invesco India Nifty Chemical Index Fund	Invesco Mutual Fund	Index Funds	Sep 15	Sep 29
Invesco India Nifty India Defence Index Fund	Invesco Mutual Fund	Index Funds	Sep 15	Sep 29
Kotak Nifty Capital Markets Index Fund	Kotak Mahindra Mutual Fund	Index Funds	Sep 15	Sep 29
LAKSHYA OVERNIGHT FUND	Lakshya Mutual Fund	Income/Debt Oriented Schemes	Sep 15	Sep 29
Tata CRISIL-IBX Financial Services 3-6 Months Debt Index Fund	Tata Mutual Fund	Index Funds	Sep 15	Sep 29
SBI Nifty200 Value 30 ETF FOF	SBI Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 17	Oct 01
Zerodha Nifty Next 100 ETF	Zerodha Mutual Fund	Exchange Traded Funds (ETFs)	Sep 21	Oct 05
HDFC FTSE India Equity ETF	HDFC Mutual Fund	Exchange Traded Funds (ETFs)	Sep 23	Oct 07
DSP BSE Insurance ETF	DSP Mutual Fund	Exchange Traded Funds (ETFs)	Sep 24	Oct 08
Motilal Oswal Nifty REITs & Realty Index Fund	Motilal Oswal Mutual Fund	Index Funds	Sep 25	Oct 09

Recently closed

Scheme	AMC	Category	Closed
Shriram Gold ETF Passive FOF	Shriram Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 25, 2026
JioBlackRock Balanced Advantage Fund	Jio BlackRock Mutual Fund	Hybrid Schemes	Sep 25, 2026
Axis Nifty500 Low Volatility 50 Index Fund	Axis Mutual Fund	Index Funds	Sep 23, 2026
Kotak Multi Sector Omni FOF	Kotak Mahindra Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 22, 2026
Mirae Asset BSE Information Technology Index Fund	Mirae Asset Mutual Fund	Index Funds	Sep 22, 2026
Monarch Overnight Fund	Monarch Mutual Fund	Income/Debt Oriented Schemes	Sep 17, 2026
Navi Nifty Reits & Realty Index fund	Navi Mutual Fund	Index Funds	Sep 15, 2026
UTI BSE India Sector Leaders Exchange Traded Fund	UTI Mutual Fund	Exchange Traded Funds (ETFs)	Sep 14, 2026
UTI BSE India Sector Leaders Index Fund	UTI Mutual Fund	Index Funds	Sep 14, 2026
BANK OF INDIA VALUE FUND	Bank of India Mutual Fund	Equity Schemes	Sep 11, 2026
Motilal Oswal Quality Fund	Motilal Oswal Mutual Fund	Equity Schemes	Sep 11, 2026
Zerodha Life Cycle Fund 2031	Zerodha Mutual Fund	Life Cycle Funds	Sep 10, 2026
The Wealth Company Multi Cap Fund	The Wealth Company Mutual Fund	Equity Schemes	Sep 10, 2026
ICICI Prudential Dynamic Asset Allocation Passive FOF	ICICI Prudential Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 09, 2026
ICICI Prudential Life Cycle Fund 2041	ICICI Prudential Mutual Fund	Life Cycle Funds	Sep 09, 2026
ICICI Prudential Life Cycle Fund 2031	ICICI Prudential Mutual Fund	Life Cycle Funds	Sep 09, 2026
ICICI Prudential Life Cycle Fund 2036	ICICI Prudential Mutual Fund	Life Cycle Funds	Sep 09, 2026
HDFC GOLD SILVER PASSIVE FOF	HDFC Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 07, 2026
Quantum Flexi Cap Fund	Quantum Mutual Fund	Equity Schemes	Sep 04, 2026
DSP Financial Services Sectoral Debt Fund	DSP Mutual Fund	Income/Debt Oriented Schemes	Sep 02, 2026
Invesco India Pharma and Healthcare Fund	Invesco Mutual Fund	Equity Schemes	Sep 01, 2026
Edelweiss Ultra Short Term Fund	Edelweiss Mutual Fund	Income/Debt Oriented Schemes	Aug 31, 2026
quant Income Plus Arbitrage Active FOF	quant Mutual Fund	Fund of Funds Scheme (Domestic)	Aug 31, 2026
quant Silver ETF	quant Mutual Fund	Exchange Traded Funds (ETFs)	Aug 31, 2026
Nippon India Income Plus Arbitrage Omni Fund of Fund	Nippon India Mutual Fund	Fund of Funds Scheme (Domestic)	Aug 31, 2026
ITI Multi Asset Allocation Fund	ITI Mutual Fund	Hybrid Schemes	Aug 31, 2026
UTI Balanced Hybrid Fund	UTI Mutual Fund	Hybrid Schemes	Aug 28, 2026

Every fact, dated and sourced. No buy or sell call.