New fund offers have slowed down, as fund houses have launched only 340 new schemes in the April to September 2015 period. In comparison, mutual funds had brought out 1,059 NFOs during the 2014-15 fiscal. This is partly due to market regulator, SEBI's direction to rationalise and consolidate mutual fund schemes with similar objectives. The requirement of disclosing details and number of funds managed by each fund manager has also led to more circumspection by fund houses.