Holy shit. 8000 crores raised IN NFOs in a month. Look at the schemes, all pointless garbage!

https://t.co/jZoancOqqa

If you look closely, 4 out of the 6 top NFOs in terms of money raised are from bank owned NFOs. These AMCs are notoriously skilled at selling garbage funds through their banking channels. They've turned mis-selling into an art. They're are Picasso's of mis-selling

One would be excused for thinking these are intent based allocations by investors which isn't the case. These funds would've been sold mis-sold by any way possible. Bank RMs are incentivized to do so.

Otherwise, in a country where people don't understand a simple mutual funds, expecting people to understand a worthless and pointless ESG fund a d then allocating 1500 crores is a mega stretch. ICICI Pru too had raised 1000+cr for its ESG fund.

The fact that these new funds are raising so much money to me is a negative. In a time like this, where will retail investors find fresh money to allocate? Which means they must doing stupid things like selling other funds.