New mutual funds in April 2026: 11 launches

Eleven, and mostly passive

11 new schemes published their first NAV in April 2026, counting each fund's Direct plan, Growth option. That is less than half of March's 25, though still more than the 6 of April 2025.

From January to April 2026 the total is 69, against 63 in the same four months of 2025, both counted among funds still publishing a NAV in early May.

Seven of the eleven are index funds. Only one is an actively managed equity fund.

The list

Three patterns

Index funds that hold both equity and bonds. Edelweiss and Zerodha both launched funds tracking an index made 70% of the Nifty LargeMidcap 250 and 30% of 8–13 year government securities. It is a hybrid portfolio, built and rebalanced by an index rule rather than a manager, and the two funds started within two weeks of each other.

More short-term financial-services debt index funds. SBI's two funds track the same CRISIL-IBX indices of 3–6 and 9–12 month financial-services debt that Nippon India and HDFC launched funds on in March. That makes five such funds in under two months.

A new house's first funds. Choice Mutual Fund's Nifty 50 and Nifty Next 50 index funds both began on 9 April. They are its first schemes with a Direct Growth NAV; its only earlier scheme was a gold ETF.

The lone active equity fund is JioBlackRock Large Cap. The rest are wrappers and low-risk products: HSBC's gold ETF fund-of-funds, Kotak's multi-asset fund-of-funds and Groww's arbitrage fund.

Eight houses launched something, with Choice, SBI and Zerodha accounting for two each.

How they started

An index fund's early weeks are a test of how closely it follows its index. By 5 May 2026:

• Choice Nifty 50 Index was 1.14% above its first NAV of 9 April. The Nifty 50 price index rose 1.08% over the same days, from 23,775.10 to 24,032.80.
• Choice Nifty Next 50 Index was up 6.61%, against 6.58% for the Nifty Next 50.

Both tracked their index closely from the start, which suggests the money was invested from day one.

The one fund below its first NAV was JioBlackRock Large Cap, 1.65% lower. It began on 16 April, a day the Nifty 50 closed at 24,196.75, above where it stood on 5 May. The two SBI debt index funds and Groww Arbitrage were each within about 0.1% of their starting NAV, as funds of that kind should be.

What this does not tell you

Three weeks of NAVs measure the market, not the fund. None of these funds has a record that says anything about its manager or its tracking over time.

The count leaves out ETFs. It is built from Direct Growth NAVs, which ETFs do not have.

A launch is not a recommendation. A new index fund tracks the same index as older ones; what usually separates them over time is cost and tracking.

Where to go from here

The guide to index funds and ETFs explains the products that dominated April, and arbitrage funds covers Groww's new fund. For the months before, see the new funds of March 2026. The index fund category page lists every index fund with its returns.