Mutual funds rush to float balanced advantage funds

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Balanced advantage funds are gaining currency, outdoing plain-vanilla equity mutual funds in popularity.

The NFO from SBI Balanced Advantage Fund in September raised ₹15,000 crore – the highest by any equity-oriented fund – while Axis MF has repositioned its existing Dynamic equity fund to a balanced advantage fund. NJ MF is making its debut with a balanced advantage fund offering. Assets under management rose 62% over the last year to ₹1.41 lakh crore.

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