Fund houses rush to launch FMPs as year end approaches
Monday, March 27, 2017, 7:00 PM
Fixed maturity plans (FMPs) of mutual funds are back in vogue as the financial year comes to an end. At least eight asset management companies have launched three-year FMPs of late as superior tax benefits and better returns than fixed deposits attract well-heeled investors to this product. FMPs are close-ended mutual fund schemes which invest in debt instruments with maturity of the fund.