Hybrid, equity, debt, retirement and fixed maturity plan (FMP) are some of the themes for which mutual fund houses have filed the applications.
In addition, the houses are eyeing overseas stock exchanges for investment.
Motilal Oswal filed papers for a scheme - Motilal Oswal MOSt Focused Dynamic Fund - to invest in equity, derivatives and debt instruments.
BNP Paribas submitted papers with market regulator Sebi to launch an arbitrage fund for investment in a diversified portfolio of equity, equity derivatives and arbitrage opportunities with exposure in debt and money market instruments.
Sundaram Mutual Fund filed papers for a scheme (Sundaram World Brand Fund) to invest in equity and equity-related instruments listed on overseas stock exchanges across the world, while Reliance MF approached the Sebi for launching a Korea-focused fund in the Indian markets.
Interestingly, many mutual fund companies submitted papers with the Sebi for launching plans with Hindi names so that investors in rural areas understand the objectives of the schemes in a better manner.
It is being seen as moving away from the old tradition of English names for such investment schemes.
'Bal Vikas Yojana', a scheme aimed at saving for children's future, 'Kar Bachat Yojana', a tax saving fund,
'Bachat Yojana' and 'Nivesh Lakshya', both fixed income schemes, are some of the launch schemes filed with Sebi by Mahindra MF and Reliance MF.
"Our idea is to explain the investment opportunities to customers in our priority markets in their own language starting with the product names," Mahindra AMC MD and chief executive Ashutosh Bishnoi had said.
Since the beginning of the year till June 22, draft documents for 48 NFOs have been submitted with the Securities and Exchange Board of India (Sebi). Of these, eight draft offers were filed last month alone.
Of these 48 NFOs, some of the funds have already been launched by the asset management companies after getting clearance from Sebi.
According to market participants, MF houses are rushing towards the Sebi to launch new schemes on account of growing demand from retail investors for such products as well as robust response received from investors in the recent fund launches.
There has been a growing demand from retail investors for mutual fund products as the investors base touched a record high of 4.84 crore at the end of May.
Last year, a total of 191 draft papers were filed with the capital markets watchdog.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.