New fund offers (NFO) in mutual funds is similar to initial public offering (IPO) where a company before launching its share on the stock exchange offers the shares to the investors for subscription. In a similar manner, before launching the fund officially in the market the mutual fund houses offer the units so that investors are able to make an investment in that particular fund.
Dollar rebounds after Fed goes big on rate cut
The U.S. dollar rose broadly on Thursday after the Federal Reserve’s significant interest rate cut. Despite initial volatility, the dollar rebounded from a one-year low