The number of proposals for new fund offers (NFOs) filed by mutual fund houses with markets regulator Sebi has been dwindling since past few months largely due to the nationwide lockdown and its impact on overall investor sentiment. Fund houses approached Sebi for as many as 11 NFOs in January, the number fell to six in February and further dropped to just one in March and nil in April. In May so far, the figure stands at two, according to the markets regulator. Since March, draft documents for only three new schemes have been filed. This comprises one by Nippon India MF in March and two by SBI MF in May and interestingly, all the three are passive funds.